Real Estate Investing in Seattle, Washington (98101)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98101 (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.
- High vacancy: 14.2% of homes vacant — above national norms.
- Declining values: -1.8% 5-year CAGR — values have moved lower.
- 1-year downturn: Values declined 5.0% in the last year.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Seattle, WA (98101)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98101 Seattle
Not every below-median market is a bargain. Seattle's 98101 ZIP shows signals that favor experienced operators who can absorb the risk $567K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $567K asset, 98101 is the wrong submarket. If the plan prices in friction, the yield can still work.
Regionally, 98101 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.
Who lives in 98101 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 98101 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Seattle:
Property Strategy for 98101
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $498,086 | $2,980 | 4.3% | -0.7% | $498,086 |
| 2BR | $902,438 | $3,470 | 2.8% | -0.3% | $451,219 |
| 3BR | $1,437,200 | $4,540 | 2.3% | -1.1% | $479,067 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98101 Compare?
| Metric | 98101 | Seattle | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $567,273 | $694,046 | N/A | $591,536 |
| 5-Year CAGR | N/A | 0.8% | N/A | 5.9% |
| Avg Rent | $2,592 | $2,268 | N/A | - |
| Cap Rate | 3.6% | 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 98101 (Seattle, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98101 (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 | $567,273 |
| Monthly Rent | $2,592 |
| Price-to-Rent | 18.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 1.8% |
📈 Home Appreciation
| 1-Year | -5.0% ▼ |
| 3-Year CAGR | -3.0% ▼ |
| 5-Year CAGR | -1.8% ▼ |
| 10-Year CAGR | +0.1% ▲ |
🏠 Rent Trends
| 1-Year | -5.2% ▼ |
| 3-Year CAGR | +0.5% ▲ |
| 5-Year CAGR | +0.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 98101
Population: 16,396
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 98101
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Bailey Gatzert Elementary School
Lowell Elementary School
Beacon Hill International School
John Muir Elementary School
Kimball 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 2,500 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do experienced investors play Seattle, WA?
In Seattle, WA the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $567K prices and $2,592/mo rents suits that approach.
How strong is the working-renter base in Seattle, WA?
Seattle, WA draws a even-keeled base of working renters. Demand at the $2,592/mo rent level is reasonable for standard single-family and small multi rentals.
Where do rents currently stand in Seattle, WA?
Rents in Seattle, WA run near $2,592/mo. Compared with median home prices of $567K that produces solid gross yields for typical rentals.
Is house hacking profitable in Seattle, WA?
House hacking in Seattle, WA is a challenging. With home values around $567K and rents at $2,592/mo, owner-occupants can offset a meaningful share of PITI.
What are vacancy rates like in Seattle, WA?
Expect elevated vacancy in Seattle, WA. Rents at $2,592/mo are absorbed by the tenant base without meaningful lag.
You know 98101 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98101 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 98101 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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