Real Estate Investing in Port Ludlow, Washington (98365)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98365 (Port Ludlow, WA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 16.2% 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 30.3 — 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 Port Ludlow, WA (98365)?
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Market Analysis: 98365 Port Ludlow
ZIP 98365 in Port Ludlow, WA carries a substantial set of headwinds. Home values near $661K and rents of $1,818/mo sit inside a market where underwriting has to be tight.
The investment case in 98365 is substantial only for operators who understand what they are buying. A $661K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
From a cash-flow lens, 98365 offers a low basis, the region around Port Ludlow has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 98365 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. solid returns are possible in 98365, 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 Port Ludlow:
Property Strategy for 98365
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $498,123 | $1,720 | 2.5% | +5.9% | $498,123 |
| 2BR | $650,072 | $2,020 | 2.2% | +5.9% | $325,036 |
| 3BR | $694,303 | $2,810 | 2.9% | +6.3% | $231,434 |
| 4BR | $811,428 | $3,390 | 3.0% | +6.3% | $202,857 |
Market Trends
Home Value History (with trend line)
📊 How Does 98365 Compare?
| Metric | 98365 | Port Ludlow | Washington |
|---|---|---|---|
| Home Value | $660,947 | $608,968 | $591,536 |
| 5-Year CAGR | 1.9% | 2.7% | 5.9% |
| Avg Rent | $1,818 | $1,575 | - |
| Cap Rate | 2.2% | 2.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98365 (Port Ludlow, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $660,947 |
| Monthly Rent | $1,818 |
| Price-to-Rent | 30.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.2% |
| 5-Year IRR | 4.0% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +0.4% ▲ |
| 5-Year CAGR | +1.9% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 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 (2.2%). 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 98365
Population: 5,178
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
Frequently Asked Questions
How tight is the rental market in Port Ludlow, WA?
Port Ludlow, WA carries elevated vacancy risk. Expect predictable absorption at market rents of $1,818/mo.
What are home prices like in Port Ludlow, WA?
The median home value in Port Ludlow, WA is roughly $661K. That puts it reasonable relative to the WA statewide average.
How strong is Port Ludlow, WA for real estate investors?
Port Ludlow, WA scores 2.0/5 for investability. Home values sit at $661K and rents near $1,818/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Which real estate strategy fits Port Ludlow, WA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Port Ludlow, WA. The numbers - $661K homes against $1,818/mo rents - support that play.
Are rents high in Port Ludlow, WA?
Port Ludlow, WA rentals go for roughly $1,818/mo a month. That puts gross yield in solid territory relative to $661K acquisition costs.
You know 98365 now. You don’t know where it ranks.
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