Real Estate Investing in Seattle, Washington (98119)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98119 (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.
- Elevated vacancy: 8.8% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 41.8 — hard to cash-flow at these prices.
What’s happening in Seattle, WA (98119)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98119 Seattle
From a cash-flow lens, ZIP 98119 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $1.0M median. It rewards specialists, not generalists.
In practical terms, the numbers look inviting — $1.0M purchase price, 0.0% nominal cap — the work to hit that pro forma in 98119 is substantial and deserves full respect.
Regionally, 98119 sits on the difficult end of the WA spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 98119 includes headwinds that any investor should price in. Income distribution skews lower than Seattle averages, and tenant stability requires active management.
Strategy in 98119 is an operator game, not a passive one. Stepping back, entry prices of $1.0M are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Seattle:
Property Strategy for 98119
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $383,363 | $2,310 | 4.3% | -2.1% | $383,363 |
| 2BR | $736,831 | $2,690 | 2.6% | +0.7% | $368,416 |
| 3BR | $1,191,947 | $3,520 | 2.1% | +3.0% | $397,316 |
| 4BR | $1,627,840 | $4,140 | 1.8% | +4.4% | $406,960 |
| 5BR | $2,101,209 | — | — | +4.9% | $420,242 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98119 Compare?
| Metric | 98119 | Seattle | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $1,044,900 | $694,046 | N/A | $591,536 |
| 5-Year CAGR | 1.7% | 0.8% | N/A | 5.9% |
| Avg Rent | $2,082 | $2,268 | N/A | - |
| Cap Rate | 1.6% | 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 98119 (Seattle, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98119 (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 | $1,044,900 |
| Monthly Rent | $2,082 |
| Price-to-Rent | 41.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.4% |
| Cap Rate | 1.6% |
| 5-Year IRR | 3.3% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +1.7% ▲ |
| 10-Year CAGR | +3.9% ▲ |
🏠 Rent Trends
| 1-Year | -1.5% ▼ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +2.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.6%). 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 98119
Population: 26,390
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 98119
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lowell Elementary School
Daniel Bagley Elementary School
Green Lake Elementary School
John Hay Elementary School
Queen Anne 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
Frequently Asked Questions
How should investors approach Seattle, WA?
For Seattle, WA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is the renter demographic in Seattle, WA?
Working renters make up the core of the Seattle, WA tenant base. The pool is reasonable for investors targeting long-term holds.
How high is vacancy risk in Seattle, WA?
Rental vacancy in Seattle, WA is elevated. Investors should budget normal turnover but not chronic empty units.
How landlord-friendly is Seattle, WA?
Seattle, WA operates under WA law, which is tenant-protective overall for landlords. Expect consistent treatment in typical lease and eviction cases.
What price range are homes in Seattle, WA?
Seattle, WA median home values land near $1.0M. That is reasonable territory for investors looking at $2,082/mo-per-month rentals.
You know 98119 now. You don’t know where it ranks.
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How 98119 ranks in Seattle-Tacoma-Bellevue, WA
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