Real Estate Investing in Skykomish, Washington (98288)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98288 (Skykomish, 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.
- High vacancy: 74.1% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Skykomish, WA (98288)?
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Market Analysis: 98288 Skykomish
The 98288 ZIP in Skykomish, WA is a local-operator market. Outside capital chasing a $472K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $472K asset, 98288 is the wrong submarket. If the plan prices in friction, the yield can still work.
Within WA, ZIP 98288 trails on several market indicators that neighboring King County submarkets outperform. The gap is real and healthy enough to shape underwriting.
The demographic picture in 98288 includes headwinds that any investor should price in. Income distribution skews lower than Skykomish averages, and tenant stability requires active management.
The 98288 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 Skykomish:
Property Strategy for 98288
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $418,271 | $2,160 | 3.7% | +5.5% | $209,136 |
| 3BR | $520,650 | $2,850 | 3.9% | +5.0% | $173,550 |
Market Trends
Home Value History (with trend line)
📊 How Does 98288 Compare?
| Metric | 98288 | Skykomish | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $472,043 | $472,043 | N/A | $591,536 |
| 5-Year CAGR | 4.0% | 4.0% | N/A | 5.9% |
| Avg Rent | $1,944 | $1,944 | N/A | - |
| Cap Rate | 3.2% | 3.2% | - | - |
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 98288 (Skykomish, 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 | $472,043 |
| Monthly Rent | $1,944 |
| Price-to-Rent | 20.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +4.2% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (3.2%). 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 98288
Population: 201
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 98288
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
How do home values compare in Skykomish, WA?
Median home price in Skykomish, WA is near $472K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
How viable is house hacking in Skykomish, WA?
Skykomish, WA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,944/mo rent level.
What is the average monthly rent in Skykomish, WA?
The typical rental in Skykomish, WA commands about $1,944/mo monthly. That rent profile measured cash flow against the $472K purchase basis.
How strict are landlord regulations in Skykomish, WA?
For rental operators, Skykomish, WA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Are renters plentiful in Skykomish, WA?
The tenant pool in Skykomish, WA is solid, supported by local employment and population fundamentals. Rents of $1,944/mo are well-absorbed by the market.
You know 98288 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98288 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 98288 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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