Real Estate Investing in Eatonville, Washington (98328)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98328 (Eatonville, 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.
- Elevated vacancy: 11.3% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 25.2 — hard to cash-flow at these prices.
What’s happening in Eatonville, WA (98328)?
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Market Analysis: 98328 Eatonville
Not every below-median market is a bargain. Eatonville's 98328 ZIP stands at signals that favor experienced operators who can absorb the risk $599K pricing implies.
Looking more closely, the numbers look inviting — $599K purchase price, 0.0% nominal cap — the work to hit that pro forma in 98328 is substantial and deserves full respect.
The gap between 98328 and stronger Eatonville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 98328 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The 98328 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 Eatonville:
Property Strategy for 98328
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $397,794 | $1,510 | 2.7% | +4.5% | $397,794 |
| 2BR | $509,991 | $1,860 | 2.6% | +5.7% | $254,996 |
| 3BR | $611,482 | $2,600 | 3.1% | +6.4% | $203,827 |
| 4BR | $674,943 | $2,970 | 3.2% | +6.6% | $168,736 |
| 5BR | $709,757 | — | — | +6.7% | $141,951 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98328 Compare?
| Metric | 98328 | Eatonville | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $599,344 | $493,461 | N/A | $591,536 |
| 5-Year CAGR | 2.9% | 4.2% | N/A | 5.9% |
| Avg Rent | $1,983 | $1,829 | N/A | - |
| Cap Rate | 2.6% | 3.0% | - | - |
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 98328 (Eatonville, WA). Anonymous, moderated, never written by AI.
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Property managers serving Pierce County
Manage rentals here? List your business →Harborside Property Management LLC offers commercial and residential property manager services in Tacoma & Gig Harbor, including single-family and multi-family homes. 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
HOA Community Solutions provides management services for homeowner associations. 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 | $599,344 |
| Monthly Rent | $1,983 |
| Price-to-Rent | 25.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 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 (2.6%). 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 98328
Population: 11,222
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 98328
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 strong is tenant demand in Eatonville, WA?
Eatonville, WA draws a steady base of working renters. Demand at the $1,983/mo rent level is reasonable for standard single-family and small multi rentals.
Do rentals sit vacant long in Eatonville, WA?
Rental vacancy in Eatonville, WA is elevated. Investors should budget normal turnover but not chronic empty units.
What are home prices like in Eatonville, WA?
The median home value in Eatonville, WA is roughly $599K. That puts it reasonable relative to the WA statewide average.
Is Eatonville, WA a good market for FHA house hackers?
Eatonville, WA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,983/mo rent level.
Are landlord laws favorable in Eatonville, WA?
Rental owners in Eatonville, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
You know 98328 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98328 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 98328 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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