Real Estate Investing in Bellevue, Washington (98007)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98007 (Bellevue, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 35.3 — hard to cash-flow at these prices.
What’s happening in Bellevue, WA (98007)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98007 Bellevue
Investors eyeing 98007 need to respect the fundamentals at play. Home values of $1.0M come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $1.0M asset, 98007 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within WA, ZIP 98007 trails on several market indicators that neighboring King County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Who lives in 98007 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 98007 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Bellevue:
Property Strategy for 98007
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $306,609 | $2,600 | 6.1% | +1.5% | $306,609 |
| 2BR | $493,440 | $3,030 | 4.4% | +3.0% | $246,720 |
| 3BR | $1,131,062 | $3,960 | 2.5% | +7.1% | $377,021 |
| 4BR | $1,471,869 | $4,660 | 2.3% | +8.3% | $367,967 |
| 5BR | $1,718,074 | — | — | +8.7% | $343,615 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98007 Compare?
| Metric | 98007 | Bellevue | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $1,020,072 | $1,508,137 | N/A | $591,536 |
| 5-Year CAGR | 3.9% | 4.6% | N/A | 5.9% |
| Avg Rent | $2,408 | $3,161 | N/A | - |
| Cap Rate | 1.8% | 1.7% | - | - |
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 98007 (Bellevue, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98007 (Bellevue, WA)?
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Property managers serving King County
Manage rentals here? List your business →Alki Property Management LLC specializes in apartment rentals. summary from their website
Brink Property Management offers residential property management and vacant home management services in Bellevue, providing marketing, tenant screening, rent collection, and maintenance. summary from their website
Full Service Property Management offers compassionate property management across Metro Seattle, including multi-family management, property marketing, and maintenance services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,020,072 |
| Monthly Rent | $2,408 |
| Price-to-Rent | 35.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.8% |
| Cap Rate | 1.8% |
| 5-Year IRR | 5.7% |
📈 Home Appreciation
| 1-Year | +0.6% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.9% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | -1.2% ▼ |
| 3-Year CAGR | +1.6% ▲ |
| 5-Year CAGR | +2.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.8%). 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 98007
Population: 26,838
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 98007
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Sherwood Forest Elementary
Sunset Elementary
Ardmore Elementary School
Central Educational Services
Chinook Middle School
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
Investor Insight: With 14,764 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical renter like in Bellevue, WA?
Bellevue, WA draws a stable base of working renters. Demand at the $2,408/mo rent level is reasonable for standard single-family and small multi rentals.
Is rental property easy to operate in Bellevue, WA?
Bellevue, WA operates under WA law, which is tenant-protective overall for landlords. Expect measured treatment in typical lease and eviction cases.
Does house hacking make sense in Bellevue, WA?
Bellevue, WA is a a tougher market for house hackers. FHA or conventional owner-occupant buyers find the $1.0M price point reasonable to enter.
How much rent can I charge in Bellevue, WA?
Rent in Bellevue, WA is around $2,408/mo. The resulting rent-to-value relationship with $1.0M pricing is reasonable for most investor models.
What are vacancy rates like in Bellevue, WA?
Occupancy in Bellevue, WA runs even-keeled with elevated vacancy. Well-priced units at $2,408/mo lease on reasonable timelines.
You know 98007 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98007 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98007 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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