Real Estate Investing in Eastsound, Washington (98245)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98245 (Eastsound, 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: 27.5% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 53.6 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Eastsound, WA (98245)?
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Market Analysis: 98245 Eastsound
Investors eyeing 98245 need to respect the fundamentals at play. Home values of $932K come alongside slower price movement and elevated management overhead.
The 98245 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Turning to rents, 98245 offers a low basis, the region around Eastsound has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A sturdy renter share of 20% in 98245 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 98245 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Eastsound:
Property Strategy for 98245
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $710,314 | $1,230 | 1.2% | +8.0% | $710,314 |
| 2BR | $808,754 | $1,610 | 1.4% | +7.9% | $404,377 |
| 3BR | $996,580 | $2,130 | 1.5% | +8.0% | $332,193 |
| 4BR | $1,270,848 | $2,130 | 1.2% | +8.2% | $317,712 |
Market Trends
Home Value History (with trend line)
📊 How Does 98245 Compare?
| Metric | 98245 | Eastsound | Washington |
|---|---|---|---|
| Home Value | $931,970 | $931,970 | $591,536 |
| 5-Year CAGR | 2.9% | 2.9% | 5.9% |
| Avg Rent | $1,449 | $1,449 | - |
| Cap Rate | 1.2% | 1.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98245 (Eastsound, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $931,970 |
| Monthly Rent | $1,449 |
| Price-to-Rent | 53.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 1.9% |
| Cap Rate | 1.2% |
| 5-Year IRR | 4.1% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (1.2%). 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 98245
Population: 4,206
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 98245
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 does Eastsound, WA rate as a rental market?
Our data puts Eastsound, WA at 2.0/5 for investability. Home prices of $932K and rents around $1,449/mo create a solid backdrop for investor activity.
What is the average monthly rent in Eastsound, WA?
The typical rental in Eastsound, WA commands about $1,449/mo monthly. That rent profile stable cash flow against the $932K purchase basis.
How should investors approach Eastsound, WA?
A careful cash-flow rentals with hands-on management strategy Eastsound, WA best. The market produces even-keeled results for that approach at the $932K price point.
Are renters plentiful in Eastsound, WA?
Expect a solid tenant pool in Eastsound, WA. The rental market absorbs $1,449/mo rents without meaningful friction.
What are home prices like in Eastsound, WA?
Homes in Eastsound, WA typically sell near $932K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
You know 98245 now. You don’t know where it ranks.
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Community Ratings
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