Real Estate Investing in Waller, Washington (98443)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98443 (Waller, 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.
- High price-to-rent: Price-to-rent ratio 28.0 — 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 Waller, WA (98443)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98443 Waller
The 98443 ZIP in Waller, WA is a local-operator market. Outside capital chasing a $574K entry has to pair deep knowledge with the discount.
The investment case in 98443 is resilient only for operators who understand what they are buying. A $574K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Waller have seen price recovery that 98443 has not matched. Pierce County data supports the view that the spread is structural rather than temporary.
Resident income in 98443 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 98443, 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 Waller:
Property Strategy for 98443
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $480,134 | $1,900 | 2.8% | +4.4% | $240,067 |
| 3BR | $551,853 | $2,630 | 3.4% | +5.4% | $183,951 |
| 4BR | $622,076 | $2,990 | 3.5% | +5.4% | $155,519 |
Market Trends
Home Value History (with trend line)
📊 How Does 98443 Compare?
| Metric | 98443 | Waller | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $574,482 | $574,482 | N/A | $591,536 |
| 5-Year CAGR | 2.7% | 2.7% | N/A | 5.9% |
| Avg Rent | $1,710 | $1,710 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
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 98443 (Waller, WA). Anonymous, moderated, never written by AI.
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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 | $574,482 |
| Monthly Rent | $1,710 |
| Price-to-Rent | 28.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 5.0% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 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 (2.3%). 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 98443
Population: 5,787
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 98443
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lyon Elementary School
Roosevelt Elementary School
Meeker Elementary
Blix Elementary School
Boze Elementary School
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 4,093 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Waller in WA worth investing in?
Waller, WA comes in at an investability rating of 3.0/5, with median home values near $574K and average rents around $1,710/mo. That combination puts it in the sturdy tier for investor interest.
Are renters plentiful in Waller, WA?
Tenant quality in Waller, WA ranks as solid. Landlords generally report steady occupancy at market rents of $1,710/mo.
Are rents high in Waller, WA?
Rent in Waller, WA is around $1,710/mo. The resulting rent-to-value relationship with $574K pricing is reasonable for most investor models.
What kind of vacancy should I budget for in Waller, WA?
Waller, WA sees elevated vacancy, which is reasonable relative to the broader WA rental market.
Can owner-occupants cash flow in Waller, WA?
House hacking in Waller, WA is reasonable to execute. Prices around $574K and rents of $1,710/mo solid owner-occupant economics.
You know 98443 now. You don’t know where it ranks.
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How 98443 ranks in Seattle-Tacoma-Bellevue, WA
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