Real Estate Investing in Lakebay, Washington (98349)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98349 (Lakebay, 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: 28.1% 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 26.8 — 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 Lakebay, WA (98349)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98349 Lakebay
Investors eyeing 98349 need to respect the fundamentals at play. Home values of $538K come alongside slower price movement and elevated management overhead.
The 98349 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Lakebay have seen price recovery that 98349 has not matched. Pierce County data supports the view that the spread is structural rather than temporary.
A notable renter share of 14% in 98349 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Lakebay:
Property Strategy for 98349
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $396,362 | $1,510 | 2.7% | +5.2% | $396,362 |
| 2BR | $494,026 | $1,860 | 2.7% | +4.9% | $247,013 |
| 3BR | $546,209 | $2,600 | 3.4% | +5.5% | $182,070 |
| 4BR | $692,942 | $2,970 | 3.1% | +5.3% | $173,235 |
Market Trends
Home Value History (with trend line)
📊 How Does 98349 Compare?
| Metric | 98349 | Lakebay | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $538,426 | $538,426 | N/A | $591,536 |
| 5-Year CAGR | 2.1% | 2.1% | N/A | 5.9% |
| Avg Rent | $1,674 | $1,674 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
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 98349 (Lakebay, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98349 (Lakebay, WA)?
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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 | $538,426 |
| Monthly Rent | $1,674 |
| Price-to-Rent | 26.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +2.1% ▲ |
| 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 (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 98349
Population: 5,021
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 98349
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 7,226 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical rental rate in Lakebay, WA?
Rental rates in Lakebay, WA average $1,674/mo. Tenant demand and $538K home values make the yield look reasonable by investor standards.
How qualified is the tenant pool in Lakebay, WA?
Tenant demand in Lakebay, WA is solid. The local workforce $1,674/mo rents across most rental classes.
Does Lakebay, WA favor landlords or tenants?
The landlord environment in Lakebay, WA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
Is real estate in Lakebay, WA a good investment right now?
With a 3.0/5 investability score, Lakebay, WA ranks as a solid market for rental property investors. Median prices of $538K and rents of $1,674/mo drive the underlying numbers.
Are homes affordable in Lakebay, WA?
The median home value in Lakebay, WA is roughly $538K. That puts it reasonable relative to the WA statewide average.
You know 98349 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98349 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 98349 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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