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2208 S 3rd Ave Yakima, WA 98903

3 Beds 1 Baths 1,196 sqft Built 1925

$240,000

List Price

$913

$821.7 - $1K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $200.67
  • 5 Days on Market
  • MLS # : 21-274
  • Updated Date : 02/10/2021 at 09:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 1 full
Listing Agent

Fathom Realty Wa, Llc

Listing Agent's Description

Wonderful home on a large lot that is fully fenced and conveniently located nearby to schools, parks, shopping, highway access, airport, outdoor recreation and more. Great investment opportunity, the property is zoned R-2. Square footage is closer to 1800sf when measured. Occupied by tenant, 24 hour showing notice required. Adhere to all current Covid-19 measures as instructed by the governor.

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PRICE & RENT TRENDS

Zip Code: 98903

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180kPrice in $70k189k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 98903

No Data Available.

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Ridgeview Elementary School Primary Regular 647 41 1
Lewis And Clark Middle School Middle Regular 839 44 1
A.c. Davis High School High Regular 2,099 97 2

Ridgeview Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 41
1
GreatSchools Rating

Lewis And Clark Middle School

  • Education Level: Middle
  • # of students: 839
  • # of teachers: 44
1
GreatSchools Rating

A.c. Davis High School

  • Education Level: High
  • # of students: 2,099
  • # of teachers: 97
2
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$822$1,004$913

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $913
EXPENSES Loan Payment -$834
Property Tax -$164
Property Insurance -$51
Property Management Fees -$109
CASH FLOW
-$245

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$913

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$692

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $913

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$913
1$913
$913
RENT COMPS ANALYSIS
  • 2208 S 3rd Ave Yakima, WA
    • 3 beds 1 baths ∙ 1,196 Sqft ∙ Built 1925 3 beds 1 baths ∙ 1,196 Sqft ∙ Built 1925
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $913
    • $0.76
    •  
PROPERTY LISTING DETAILS
Randall Sali
1.509.571.0919
Fathom Realty Wa, Llc
BESbswy