Real Estate Investing in Seattle, Washington (98112)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98112 (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.
- Flat appreciation: Values have barely moved over 5 years (1.3% CAGR).
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 50.2 — hard to cash-flow at these prices.
What’s happening in Seattle, WA (98112)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98112 Seattle
The 98112 ZIP covers a section of Seattle that demands careful diligence. Prices near $1.4M look accessible, but the work to make a deal cash flow is real.
Distressed markets are won on execution, not on spreadsheets. ZIP 98112 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
On the rental side, 98112 offers a low basis, the region around Seattle has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
On balance, 23,961 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.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Seattle:
Property Strategy for 98112
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $497,379 | $2,260 | 3.3% | -0.7% | $497,379 |
| 2BR | $828,811 | $2,630 | 2.3% | +0.6% | $414,406 |
| 3BR | $1,309,517 | $3,440 | 1.9% | +2.7% | $436,506 |
| 4BR | $1,891,465 | $4,050 | 1.5% | +3.8% | $472,866 |
| 5BR | $2,601,406 | — | — | +3.9% | $520,281 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98112 Compare?
| Metric | 98112 | Seattle | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $1,362,281 | $694,046 | N/A | $591,536 |
| 5-Year CAGR | 1.3% | 0.8% | N/A | 5.9% |
| Avg Rent | $2,263 | $2,268 | N/A | - |
| Cap Rate | 1.3% | 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 98112 (Seattle, 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 | $1,362,281 |
| Monthly Rent | $2,263 |
| Price-to-Rent | 50.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.0% |
| Cap Rate | 1.3% |
| 5-Year IRR | 2.6% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +1.3% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 Rent Trends
| 1-Year | -1.6% ▼ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +2.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.3%). 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 98112
Population: 23,961
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 98112
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bailey Gatzert Elementary School
Lowell Elementary School
John Hay Elementary School
Laurelhurst Elementary School
Leschi 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
What price range are homes in Seattle, WA?
Median home price in Seattle, WA is near $1.4M, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
Do landlords face vacancy issues in Seattle, WA?
Rental vacancy in Seattle, WA is elevated. Investors should budget normal turnover but not chronic empty units.
Is rental property easy to operate in Seattle, WA?
Landlord-friendliness in Seattle, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How much rent can I charge in Seattle, WA?
Seattle, WA rentals go for roughly $2,263/mo a month. That puts gross yield in solid territory relative to $1.4M acquisition costs.
How qualified is the tenant pool in Seattle, WA?
Expect a solid tenant pool in Seattle, WA. The rental market absorbs $2,263/mo rents without meaningful friction.
You know 98112 now. You don’t know where it ranks.
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How 98112 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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