Real Estate Investing in University Place, Washington (98467)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98467 (University Place, 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 34.4 — hard to cash-flow at these prices.
What’s happening in University Place, WA (98467)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98467 University Place
The 98467 ZIP covers a section of University Place that demands careful diligence. Prices near $689K look accessible, but the work to make a deal cash flow is real.
On balance, the numbers look inviting — $689K purchase price, 0.0% nominal cap — the work to hit that pro forma in 98467 is substantial and deserves full respect.
In the broader WA picture, 98467 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A healthy renter share of 41% in 98467 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in University Place:
Property Strategy for 98467
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $471,418 | $1,860 | 2.8% | +4.7% | $235,709 |
| 3BR | $634,783 | $2,600 | 2.9% | +5.9% | $211,594 |
| 4BR | $744,065 | $2,970 | 2.9% | +6.3% | $186,016 |
| 5BR | $804,999 | — | — | +6.2% | $161,000 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98467 Compare?
| Metric | 98467 | University Place | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $689,125 | $660,291 | N/A | $591,536 |
| 5-Year CAGR | 2.8% | 2.8% | N/A | 5.9% |
| Avg Rent | $1,669 | $1,839 | N/A | - |
| Cap Rate | 1.9% | 2.2% | - | - |
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 98467 (University Place, 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 | $689,125 |
| Monthly Rent | $1,669 |
| Price-to-Rent | 34.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 4.7% |
📈 Home Appreciation
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -13.8% ▼ |
| 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 98467
Population: 15,241
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 98467
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Arlington Elementary School
Edison Elementary School
Gray Middle School
Manitou Park Elementary School
Wainwright Intermediate 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 8,573 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in University Place, WA?
The median home value in University Place, WA is roughly $689K. That puts it reasonable relative to the WA statewide average.
Which investment style suits University Place, WA?
A careful cash-flow rentals with hands-on management strategy University Place, WA best. The market produces steady results for that approach at the $689K price point.
What are rental rates like in University Place, WA?
Rental rates in University Place, WA average $1,669/mo. Tenant demand and $689K home values make the yield look reasonable by investor standards.
Does University Place, WA favor landlords or tenants?
University Place, WA operates under WA law, which is tenant-protective overall for landlords. Expect predictable treatment in typical lease and eviction cases.
Does University Place, WA make sense for an investment property?
With a 2.0/5 investability score, University Place, WA ranks as a solid market for rental property investors. Median prices of $689K and rents of $1,669/mo drive the underlying numbers.
You know 98467 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98467 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 98467 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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