Real Estate Investing in Seattle, Washington (98102)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98102 (Seattle, WA)? 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.
- Declining values: -0.6% 5-year CAGR — values have moved lower.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 30.7 — hard to cash-flow at these prices.
What’s happening in Seattle, WA (98102)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98102 Seattle
The 98102 ZIP in Seattle, WA is a local-operator market. Outside capital chasing a $759K entry has to pair deep knowledge with the discount.
The investment case in 98102 is impressive only for operators who understand what they are buying. A $759K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 98102 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Stepping back, 26,583 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 98102 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 Seattle:
Property Strategy for 98102
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $394,456 | $2,500 | 4.6% | -1.9% | $394,456 |
| 2BR | $713,549 | $2,910 | 2.9% | -0.6% | $356,775 |
| 3BR | $1,134,086 | $3,810 | 2.4% | +0.7% | $378,029 |
| 4BR | $1,680,026 | $4,480 | 1.9% | +2.9% | $420,006 |
| 5BR | $2,055,001 | — | — | +2.9% | $411,000 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98102 Compare?
| Metric | 98102 | Seattle | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $759,249 | $694,046 | N/A | $591,536 |
| 5-Year CAGR | N/A | 0.8% | N/A | 5.9% |
| Avg Rent | $2,064 | $2,268 | N/A | - |
| Cap Rate | 2.1% | 2.3% | - | - |
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 98102 (Seattle, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98102 (Seattle, 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 | $759,249 |
| Monthly Rent | $2,064 |
| Price-to-Rent | 30.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.1% |
| 5-Year IRR | 1.5% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | -0.6% ▼ |
| 5-Year CAGR | -0.6% ▼ |
| 10-Year CAGR | +1.6% ▲ |
🏠 Rent Trends
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +3.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.1%). 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 98102
Population: 26,583
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 98102
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bailey Gatzert Elementary School
Daniel Bagley Elementary School
Green Lake Elementary School
John Hay Elementary School
Laurelhurst Elementary 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 10,676 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Seattle, WA good for landlords?
The landlord environment in Seattle, WA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
What approach is best for Seattle, WA real estate?
Most investors in Seattle, WA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 2.0/5 investability profile and the market fundamentals.
What is the average home sale price in Seattle, WA?
The median home value in Seattle, WA is roughly $759K. That puts it reasonable relative to the WA statewide average.
Can I live-in-and-rent in Seattle, WA?
House hacking in Seattle, WA is reasonable to execute. Prices around $759K and rents of $2,064/mo solid owner-occupant economics.
How qualified is the tenant pool in Seattle, WA?
Tenant quality in Seattle, WA ranks as solid. Landlords generally report consistent occupancy at market rents of $2,064/mo.
You know 98102 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98102 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 98102 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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