Real Estate Investing in North Bend, Washington (98045)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98045 (North Bend, 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 25.8 — hard to cash-flow at these prices.
What’s happening in North Bend, WA (98045)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98045 North Bend
The 98045 ZIP in North Bend, WA is a local-operator market. Outside capital chasing a $999K entry has to pair deep knowledge with the discount.
Rent of $3,225/mo on a $999K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98045 sits below the stated 0.0% once reality is priced in.
The gap between 98045 and stronger North Bend ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 98045 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 98045 is an operator game, not a passive one. Put differently, entry prices of $999K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in North Bend:
Property Strategy for 98045
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $557,776 | $2,280 | 2.9% | +6.8% | $557,776 |
| 2BR | $661,963 | $2,660 | 2.9% | +7.4% | $330,981 |
| 3BR | $849,379 | $3,480 | 2.9% | +8.1% | $283,126 |
| 4BR | $1,260,938 | $4,090 | 2.3% | +8.8% | $315,235 |
| 5BR | $1,395,970 | — | — | +7.8% | $279,194 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98045 Compare?
| Metric | 98045 | North Bend | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $998,912 | $998,912 | N/A | $591,536 |
| 5-Year CAGR | 4.2% | 4.2% | N/A | 5.9% |
| Avg Rent | $3,225 | $3,225 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
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 98045 (North Bend, 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 | $998,912 |
| Monthly Rent | $3,225 |
| Price-to-Rent | 25.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +4.2% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | +6.2% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). 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 98045
Population: 15,705
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 98045
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.
Frequently Asked Questions
Does a duplex house hack pencil in North Bend, WA?
North Bend, WA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $999K price point reasonable to enter.
How strict are landlord regulations in North Bend, WA?
WA ranks as a tenant-protective state for landlord-tenant law. North Bend generally follows the statewide framework, so landlords face reasonable operating rules.
How strong is the working-renter base in North Bend, WA?
North Bend, WA draws a steady base of working renters. Demand at the $3,225/mo rent level is reasonable for standard single-family and small multi rentals.
Is North Bend in WA worth investing in?
The 3.0/5 investability rating in North Bend, WA reflects its $999K prices and $3,225/mo rents. Investors generally consider it a solid option within WA.
What type of investing works in North Bend, WA?
North Bend, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($999K prices, $3,225/mo rents) make it a reasonable choice.
You know 98045 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98045 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 98045 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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