Real Estate Investing in Olalla, Washington (98359)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98359 (Olalla, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 36.6 — 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 Olalla, WA (98359)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98359 Olalla
ZIP 98359 in Olalla, WA carries a sturdy set of headwinds. Home values near $736K and rents of $1,674/mo sit inside a market where underwriting has to be tight.
Put differently, the numbers look inviting — $736K purchase price, 0.0% nominal cap — the work to hit that pro forma in 98359 is substantial and deserves full respect.
Put differently, 98359 offers a low basis, the region around Olalla has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 98359 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Distressed ZIPs reward experience. healthy returns are possible in 98359, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Olalla:
Property Strategy for 98359
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $577,588 | $1,860 | 2.3% | +6.5% | $288,794 |
| 3BR | $695,807 | $2,600 | 2.7% | +6.7% | $231,936 |
| 4BR | $836,804 | $2,970 | 2.6% | +6.8% | $209,201 |
Market Trends
Home Value History (with trend line)
📊 How Does 98359 Compare?
| Metric | 98359 | Olalla | Bremerton-Silverdale-Port Orchard, WA | Washington |
|---|---|---|---|---|
| Home Value | $735,535 | $735,535 | N/A | $591,536 |
| 5-Year CAGR | 3.5% | 3.5% | N/A | 5.9% |
| Avg Rent | $1,674 | $1,674 | N/A | - |
| Cap Rate | 1.8% | 1.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98359 (Olalla, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98359 (Olalla, WA)?
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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 | $735,535 |
| Monthly Rent | $1,674 |
| Price-to-Rent | 36.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.7% |
| Cap Rate | 1.8% |
| 5-Year IRR | 5.3% |
📈 Home Appreciation
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +3.5% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (1.8%). 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 98359
Population: 4,691
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 98359
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 12,520 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much does a house cost in Olalla, WA?
In Olalla, WA the median home value sits at $736K. Against the broader WA market, that reads as reasonable for most investors.
Do rentals sit vacant long in Olalla, WA?
Expect elevated vacancy in Olalla, WA. Rents at $1,674/mo are absorbed by the tenant base without meaningful lag.
What real estate strategy is ideal for Olalla, WA?
For Olalla, WA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is Olalla, WA good for house hacking?
House hacking in Olalla, WA is a challenging. With home values around $736K and rents at $1,674/mo, owner-occupants can offset a meaningful share of PITI.
Is rental property easy to operate in Olalla, WA?
Landlord-friendliness in Olalla, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 98359 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98359 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 98359 ranks in Bremerton-Silverdale-Port Orchard, WA
Every ZIP in this metro, ranked. Free.
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