Real Estate Investing in Mukilteo, Washington (98275)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98275 (Mukilteo, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
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 32.3 — hard to cash-flow at these prices.
What’s happening in Mukilteo, WA (98275)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98275 Mukilteo
This part of Snohomish County is not an easy win. The 98275 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 98275 is robust only for operators who understand what they are buying. A $910K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Mukilteo have seen price recovery that 98275 has not matched. Snohomish County data supports the view that the spread is structural rather than temporary.
The 98275 ZIP's population of 21,312 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that records the need for careful underwriting.
The right play in 98275 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 Mukilteo:
Property Strategy for 98275
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $288,467 | $2,200 | 5.5% | +6.8% | $288,467 |
| 2BR | $491,218 | $2,560 | 3.8% | +6.7% | $245,609 |
| 3BR | $880,846 | $3,350 | 2.7% | +7.8% | $293,615 |
| 4BR | $1,092,350 | $3,940 | 2.6% | +8.7% | $273,087 |
| 5BR | $1,253,479 | — | — | +8.9% | $250,696 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98275 Compare?
| Metric | 98275 | Mukilteo | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $909,622 | $909,622 | N/A | $591,536 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 5.9% |
| Avg Rent | $2,348 | $2,348 | N/A | - |
| Cap Rate | 2.0% | 2.0% | - | - |
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 98275 (Mukilteo, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98275 (Mukilteo, WA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Snohomish County
Manage rentals here? List your business →inTrust Property Management offers HOA Management Services in King & Snohomish Counties. summary from their website
Haven Property Management is a full-service residential management company based in Federal Way, WA, covering the Greater Puget Sound area. summary from their website
Navigate Community Management provides community management 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 | $909,622 |
| Monthly Rent | $2,348 |
| Price-to-Rent | 32.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +0.3% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +1.6% ▲ |
| 5-Year CAGR | +3.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.0%). 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 98275
Population: 21,312
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 98275
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Challenger Elementary
Fairmount Elementary
Horizon Elementary
Odyssey Elementary
Olivia Park 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
Investor Insight: With 12,483 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How quickly do rentals get leased in Mukilteo, WA?
Occupancy in Mukilteo, WA runs predictable with elevated vacancy. Well-priced units at $2,348/mo lease on reasonable timelines.
Is the tenant base reliable in Mukilteo, WA?
Mukilteo, WA draws a reliable base of working renters. Demand at the $2,348/mo rent level is reasonable for standard single-family and small multi rentals.
How much does a house cost in Mukilteo, WA?
Mukilteo, WA home values average about $910K. That price point suits investors targeting rentals with $2,348/mo in monthly income.
What strategy should investors use in Mukilteo, WA?
For Mukilteo, 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 it like being a landlord in Mukilteo, WA?
Rental owners in Mukilteo, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
You know 98275 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98275 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 98275 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 98275 (Mukilteo)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 98275 (Mukilteo, WA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.