Real Estate Investing in Port Orchard, Washington (98366)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98366 (Port Orchard, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Port Orchard, WA (98366)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98366 Port Orchard
Not every below-median market is a bargain. Port Orchard's 98366 ZIP clocks in at signals that favor experienced operators who can absorb the risk $511K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98366 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Stepping back, 98366 offers a low basis, the region around Port Orchard has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 98366 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The 98366 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 Port Orchard:
Property Strategy for 98366
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $377,379 | $1,490 | 2.8% | +4.4% | $377,379 |
| 2BR | $413,621 | $1,950 | 3.4% | +5.5% | $206,811 |
| 3BR | $485,603 | $2,570 | 3.8% | +5.1% | $161,868 |
| 4BR | $538,567 | $2,820 | 3.8% | +5.1% | $134,642 |
| 5BR | $588,580 | — | — | +5.0% | $117,716 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98366 Compare?
| Metric | 98366 | Port Orchard | Bremerton-Silverdale-Port Orchard, WA | Washington |
|---|---|---|---|---|
| Home Value | $510,876 | $566,848 | N/A | $591,536 |
| 5-Year CAGR | 2.5% | 2.6% | N/A | 5.9% |
| Avg Rent | $1,966 | $2,281 | N/A | - |
| Cap Rate | 3.0% | 3.1% | - | - |
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 98366 (Port Orchard, 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 | $510,876 |
| Monthly Rent | $1,966 |
| Price-to-Rent | 21.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +4.0% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +2.5% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | +0.8% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +3.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). 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 98366
Population: 37,692
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 98366
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 5,796 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What strategy should investors use in Port Orchard, WA?
Investors usually favor careful cash-flow rentals with hands-on management in Port Orchard, WA. With home values at $511K and rents near $1,966/mo, other strategies can work but produce measured rather than outsized returns.
Are there empty rentals in Port Orchard, WA?
Vacancy in Port Orchard, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,966/mo.
How strong are rents in Port Orchard, WA?
The typical rental in Port Orchard, WA commands about $1,966/mo monthly. That rent profile stable cash flow against the $511K purchase basis.
How expensive is real estate in Port Orchard, WA?
Median home price in Port Orchard, WA is near $511K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
What is the renter demographic in Port Orchard, WA?
Port Orchard, WA offers a even-keeled renter base at the $1,966/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 98366 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98366 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 98366 ranks in Bremerton-Silverdale-Port Orchard, WA
Every ZIP in this metro, ranked. Free.
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