Real Estate Investing in Packwood, Washington (98361)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98361 (Packwood, 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: 80.4% 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 33.6 — 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 Packwood, WA (98361)?
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Market Analysis: 98361 Packwood
Investors eyeing 98361 need to respect the fundamentals at play. Home values of $464K come alongside slower price movement and elevated management overhead.
The 98361 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 98361 and stronger Packwood ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 98361 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 98361 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Packwood:
Market Trends
Home Value History (with trend line)
📊 How Does 98361 Compare?
| Metric | 98361 | Packwood | Centralia, WA | Washington |
|---|---|---|---|---|
| Home Value | $463,809 | $463,809 | N/A | $591,536 |
| 5-Year CAGR | 7.3% | 7.3% | N/A | 5.9% |
| Avg Rent | $1,152 | $1,152 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98361 (Packwood, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $463,809 |
| Monthly Rent | $1,152 |
| Price-to-Rent | 33.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 1.9% |
| 5-Year IRR | 9.3% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +7.3% ▲ |
| 10-Year CAGR | +12.0% ▲ |
🏠 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 (1.9%). 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 98361
Population: 388
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
Frequently Asked Questions
How do home values compare in Packwood, WA?
The median home value in Packwood, WA is roughly $464K. That puts it reasonable relative to the WA statewide average.
Is Packwood, WA good for landlords?
Packwood, WA operates under WA law, which is tenant-protective overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
Does Packwood, WA make sense for an investment property?
Yes - Packwood, WA a 3.0/5 investability score. With $464K home prices against $1,152/mo monthly rent, the market delivers a reasonable entry point for new investors.
What are rental rates like in Packwood, WA?
Rents in Packwood, WA run near $1,152/mo. Compared with median home prices of $464K that produces solid gross yields for typical rentals.
Is the tenant base reliable in Packwood, WA?
Packwood, WA offers a even-keeled renter base at the $1,152/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 98361 now. You don’t know where it ranks.
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How 98361 ranks in Centralia, WA
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