Real Estate Investing in Keyport, Washington (98345)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98345 (Keyport, 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: 32.6% 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 27.2 — hard to cash-flow at these prices.
• 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 Keyport, WA (98345)?
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Market Analysis: 98345 Keyport
Investors eyeing 98345 need to respect the fundamentals at play. Home values of $590K come alongside slower price movement and elevated management overhead.
The 98345 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 98345 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A substantial renter share of 53% in 98345 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 98345 is an operator game, not a passive one. Put differently, entry prices of $590K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Keyport:
Market Trends
Home Value History (with trend line)
📊 How Does 98345 Compare?
| Metric | 98345 | Keyport | Bremerton-Silverdale-Port Orchard, WA | Washington |
|---|---|---|---|---|
| Home Value | $589,602 | $589,602 | N/A | $591,536 |
| 5-Year CAGR | 2.4% | 2.4% | N/A | 5.9% |
| Avg Rent | $1,809 | $1,809 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98345 (Keyport, WA). Anonymous, moderated, never written by AI.
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Property managers serving Kitsap County
Manage rentals here? List your business →Olympic Property Management LLC provides residential management services for individuals and families in north Kitsap County from their office on Bainbridge Island. summary from their website
Details Property Management provides property management services in Kitsap County. summary from their website
Paramount Property Management Group provides property management services for houses and homes for rent in Port Orchard. 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 | $589,602 |
| Monthly Rent | $1,809 |
| Price-to-Rent | 27.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +2.4% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (2.4%). 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 98345
Population: 272
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
🎓 Nearby Colleges & Universities
Investor Insight: With 6,651 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do experienced investors play Keyport, WA?
Keyport, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($590K prices, $1,809/mo rents) make it a reasonable choice.
What is the typical renter like in Keyport, WA?
Tenant demand in Keyport, WA is solid. The local workforce $1,809/mo rents across most rental classes.
Is WA a landlord-friendly state?
WA ranks as a tenant-protective state for landlord-tenant law. Keyport generally follows the statewide framework, so landlords face reasonable operating rules.
What does house hacking look like in Keyport, WA?
House hacking works a challenging in Keyport, WA. Rents of $1,809/mo against $590K acquisition make the strategy solid for owner-occupants.
Is Keyport, WA a good place for real estate investing?
With a 3.0/5 investability score, Keyport, WA ranks as a solid market for rental property investors. Median prices of $590K and rents of $1,809/mo drive the underlying numbers.
You know 98345 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98345 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 98345 ranks in Bremerton-Silverdale-Port Orchard, WA
Every ZIP in this metro, ranked. Free.
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