Real Estate Investing in Kenmore, Washington (98028)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98028 (Kenmore, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 32.4 — hard to cash-flow at these prices.
What’s happening in Kenmore, WA (98028)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98028 Kenmore
Investors eyeing 98028 need to respect the fundamentals at play. Home values of $1.0M come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 98028 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 98028 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 98028 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 98028 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Kenmore:
Property Strategy for 98028
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $308,499 | $2,130 | 5.0% | +2.2% | $308,499 |
| 2BR | $614,069 | $2,480 | 2.9% | +6.8% | $307,035 |
| 3BR | $926,175 | $3,240 | 2.5% | +7.7% | $308,725 |
| 4BR | $1,172,328 | $3,810 | 2.3% | +9.1% | $293,082 |
| 5BR | $1,373,715 | — | — | +9.3% | $274,743 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98028 Compare?
| Metric | 98028 | Kenmore | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $1,009,674 | $1,009,674 | N/A | $591,536 |
| 5-Year CAGR | 4.1% | 4.1% | N/A | 5.9% |
| Avg Rent | $2,600 | $2,600 | N/A | - |
| Cap Rate | 2.0% | 2.0% | - | - |
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 98028 (Kenmore, WA). Anonymous, moderated, never written by AI.
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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 | $1,009,674 |
| Monthly Rent | $2,600 |
| Price-to-Rent | 32.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 6.2% |
📈 Home Appreciation
| 1-Year | -0.8% ▼ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | +12.3% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.5% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). 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 98028
Population: 23,594
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 98028
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Maywood Hills Elementary
Westhill Elementary
Helen Keller Elementary
John Muir Elementary
Robert Frost Elementary
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 9,695 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Can owner-occupants cash flow in Kenmore, WA?
Kenmore, WA offers a tougher house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,600/mo rent level.
How landlord-friendly is Kenmore, WA?
Landlord-friendliness in Kenmore, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How deep is the rental pool in Kenmore, WA?
The tenant pool in Kenmore, WA is solid, supported by local employment and population fundamentals. Rents of $2,600/mo are well-absorbed by the market.
What is the average monthly rent in Kenmore, WA?
Expect rents around $2,600/mo per month in Kenmore, WA. With home values at $1.0M, the yield math works out to reasonable levels for rental investors.
What are vacancy rates like in Kenmore, WA?
Kenmore, WA sees elevated vacancy, which is reasonable relative to the broader WA rental market.
You know 98028 now. You don’t know where it ranks.
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How 98028 ranks in Seattle-Tacoma-Bellevue, WA
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