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Short-Term Rental · Seattle, WA

Short-Term Rental Financing in Seattle, WA

Estimated 0.83x DSCR on a $850,000 short-term rental with $212,500 down — qualified on the property's income, not your tax returns.

Modeled Purchase Price
$850,000
25% Down
$212,500
Loan Amount
$637,500
Est. Monthly PITIA
$5,461
Creditable STR Income
$4,536/mo
Est. DSCR Ratio
0.83x

Short-Term Rental investing in Seattle

Short-term rental financing in Seattle is a different underwriting product than a long-term DSCR loan even though it carries the same name. The lender is crediting nightly revenue instead of a signed lease, which means the documentation, the reserve requirement, and the permit diligence all change.

At the Seattle median of $850,000, a short-term rental prices near $850,000. Minimum down is 25% ($212,500), leaving a loan of $637,500. Estimated all-in PITIA runs about $5,461 per month.

The Seattle ratio math on this product

Gross nightly revenue in Seattle models to about $6,300/month across a full year. Lenders do not credit that dollar-for-dollar — a 28% haircut for vacancy, cleaning, platform fees and management leaves $4,536 of creditable income. Against a PITIA of $5,461, that is an estimated DSCR ratio of 0.83x. That is below the 1.0 threshold, which is normal at this basis. Financing here works one of three ways — more money down, a no-ratio DSCR product, or qualifying on documented short-term rental revenue.

Underwriting notes specific to STR files: plan on 25% down as the floor, six months of PITIA in reserves, and either twelve months of Airbnb/VRBO earnings statements on the subject property or a third-party market revenue study for a property with no operating history. Short-term rental activity is moderate here and local rules vary by zoning district. Verify the permit status of the exact address before you go hard on earnest money — an unpermitted STR is an unfinanceable STR on this product.

Returns and structure

Return metrics at the Seattle median for this product: an estimated cap rate of 3.52%, and monthly cash flow of $925 negative at 25% down. Negative cash flow at the minimum down payment is common in appreciation-led markets; investors close the gap with a larger down payment, a purchase below median, an added unit, or a rate buydown.

Seattle property types compared

Property TypeModeled PriceMin. DownEst. IncomeEst. DSCR
Single-Family Rental$850,00020% ($170,000)$4,200/mo0.73x
2–4 Unit Multi-Family$1,343,00025% ($335,750)$7,812/mo0.91x
Condo & Townhome$612,00020% ($122,400)$3,318/mo0.72x
Short-Term Rental (this page)$850,00025% ($212,500)$4,536/mo0.83x

All figures model a purchase at the Seattle median of $850,000 with the property-type adjustments described above, at an illustrative 7.50% DSCR rate on a 30-year fixed. Short-term rental income is shown after the standard lender haircut.

Figures on this page are modeled estimates derived from the Seattle median price and market rent, adjusted for short-term rental product characteristics. They are illustrative, not a loan offer or an appraisal. Actual pricing, rent, taxes, insurance, HOA dues and DSCR depend on the specific property and on conditions at the time of application.

Seattle Short-Term Rental FAQ

More Seattle investor resources

Seattle investor guide
Full market analysis and loan options
Single-Family Rental in Seattle
0.73x est. DSCR
2–4 Unit Multi-Family in Seattle
0.91x est. DSCR
Condo & Townhome in Seattle
0.72x est. DSCR
King County investor hub
Every market we finance in the county
DSCR loan requirements in Washington
DSCR payment calculator

Price a short-term rental in Seattle

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