Real Estate Investing in Garibaldi, Oregon (97118)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97118 (Garibaldi, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 29.0% of homes vacant — above national norms.
- 1-year downturn: Values declined 5.9% in the last year.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Garibaldi, OR (97118)?
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Market Analysis: 97118 Garibaldi
The 97118 ZIP covers a section of Garibaldi that demands careful diligence. Prices near $350K look accessible, but the work to make a deal cash flow is real.
Rent of $1,224/mo on a $350K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97118 sits below the stated 0.0% once reality is priced in.
The gap between 97118 and stronger Garibaldi ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A sturdy renter share of 28% in 97118 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 97118 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Garibaldi:
Property Strategy for 97118
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $317,007 | $1,360 | 3.1% | +6.7% | $158,503 |
| 3BR | $415,179 | $1,890 | 3.3% | +6.6% | $138,393 |
Market Trends
Home Value History (with trend line)
📊 How Does 97118 Compare?
| Metric | 97118 | Garibaldi | Oregon |
|---|---|---|---|
| Home Value | $350,071 | $350,071 | $493,884 |
| 5-Year CAGR | 1.6% | 1.6% | 4.9% |
| Avg Rent | $1,224 | $1,224 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97118 (Garibaldi, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $350,071 |
| Monthly Rent | $1,224 |
| Price-to-Rent | 23.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 4.3% |
📈 Home Appreciation
| 1-Year | -5.9% ▼ |
| 3-Year CAGR | -2.6% ▼ |
| 5-Year CAGR | +1.6% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97118
Population: 769
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97118
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Where do home prices stand in Garibaldi, OR?
Median home price in Garibaldi, OR is near $350K, with a 5-year CAGR of 0.0%. Prices have been even-keeled and supportive of buy-and-hold strategies.
What approach is best for Garibaldi, OR real estate?
A careful cash-flow rentals with hands-on management strategy Garibaldi, OR best. The market produces predictable results for that approach at the $350K price point.
Is rental property easy to operate in Garibaldi, OR?
Garibaldi, OR operates under OR law, which is landlord-friendly overall for landlords. Expect measured treatment in typical lease and eviction cases.
How viable is house hacking in Garibaldi, OR?
The a challenging house-hack environment in Garibaldi, OR reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How strong is Garibaldi, OR for real estate investors?
With a 2.0/5 investability score, Garibaldi, OR ranks as a solid market for rental property investors. Median prices of $350K and rents of $1,224/mo drive the underlying numbers.
You know 97118 now. You don’t know where it ranks.
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