Real Estate Investing in Camano Island, Washington (98282)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98282 (Camano Island, WA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 15.5% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Camano Island, WA (98282)?
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Market Analysis: 98282 Camano Island
The 98282 ZIP in Camano Island, WA is a local-operator market. Outside capital chasing a $732K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98282 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 98282 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The demographic picture in 98282 includes headwinds that any investor should price in. Income distribution skews lower than Camano Island averages, and tenant stability requires active management.
The 98282 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 Camano Island:
Property Strategy for 98282
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $572,320 | $1,850 | 2.3% | +5.1% | $572,320 |
| 2BR | $661,958 | $2,160 | 2.3% | +5.9% | $330,979 |
| 3BR | $765,090 | $2,850 | 2.7% | +6.5% | $255,030 |
| 4BR | $990,669 | $3,320 | 2.4% | +7.4% | $247,667 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98282 Compare?
| Metric | 98282 | Camano Island | Washington |
|---|---|---|---|
| Home Value | $732,475 | $732,475 | $591,536 |
| 5-Year CAGR | 2.1% | 2.1% | 5.9% |
| Avg Rent | $2,650 | $2,650 | - |
| Cap Rate | 2.8% | 2.8% | - |
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 98282 (Camano Island, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $732,475 |
| Monthly Rent | $2,650 |
| Price-to-Rent | 23.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 4.9% |
📈 Home Appreciation
| 1-Year | +1.2% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +2.1% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 98282
Population: 17,535
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 98282
Schools in This ZIP Code
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.
Frequently Asked Questions
Is Camano Island, WA a good market for buy-and-hold investors?
Our data puts Camano Island, WA at 3.0/5 for investability. Home prices of $732K and rents around $2,650/mo create a solid backdrop for investor activity.
Should investors worry about vacancy in Camano Island, WA?
Vacancy in Camano Island, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,650/mo.
How deep is the rental pool in Camano Island, WA?
The tenant pool in Camano Island, WA is solid, supported by local employment and population fundamentals. Rents of $2,650/mo are well-absorbed by the market.
Does Camano Island, WA favor landlords or tenants?
Camano Island, WA operates under WA law, which is tenant-protective overall for landlords. Expect measured treatment in typical lease and eviction cases.
What monthly rent should investors expect in Camano Island, WA?
Rental rates in Camano Island, WA average $2,650/mo. Tenant demand and $732K home values make the yield look reasonable by investor standards.
You know 98282 now. You don’t know where it ranks.
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Community Ratings
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