Real Estate Investing in Allyn, Washington (98524)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98524 (Allyn, 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: 24.5% 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 38.1 — 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 Allyn, WA (98524)?
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Market Analysis: 98524 Allyn
ZIP 98524 inside Mason County looks affordable on the surface — median value of $543K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 98524 is notable only for operators who understand what they are buying. A $543K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within WA, ZIP 98524 trails on several market indicators that neighboring Mason County submarkets outperform. The gap is real and resilient enough to shape underwriting.
Employment concentration in 98524 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Allyn's stable or hybrid ZIPs before stepping into 98524. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Allyn:
Property Strategy for 98524
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $519,484 | $1,320 | 1.8% | +6.3% | $259,742 |
| 3BR | $538,776 | $1,840 | 2.5% | +6.0% | $179,592 |
| 4BR | $619,728 | $2,050 | 2.4% | +6.5% | $154,932 |
Market Trends
Home Value History (with trend line)
📊 How Does 98524 Compare?
| Metric | 98524 | Allyn | Shelton, WA | Washington |
|---|---|---|---|---|
| Home Value | $542,993 | $542,993 | N/A | $591,536 |
| 5-Year CAGR | 2.4% | 2.4% | N/A | 5.9% |
| Avg Rent | $1,188 | $1,188 | N/A | - |
| Cap Rate | 1.7% | 1.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98524 (Allyn, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $542,993 |
| Monthly Rent | $1,188 |
| Price-to-Rent | 38.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.6% |
| Cap Rate | 1.7% |
| 5-Year IRR | 4.1% |
📈 Home Appreciation
| 1-Year | +0.8% ▲ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +2.4% ▲ |
| 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 (1.7%). 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 98524
Population: 4,585
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
Is real estate in Allyn, WA a good investment right now?
The 2.0/5 investability rating in Allyn, WA reflects its $543K prices and $1,188/mo rents. Investors generally consider it a solid option within WA.
What is the tenant pool like in Allyn, WA?
Tenant demand in Allyn, WA is solid. The local workforce $1,188/mo rents across most rental classes.
How quickly do rentals get leased in Allyn, WA?
Rental vacancy in Allyn, WA is elevated. Investors should budget normal turnover but not chronic empty units.
What investment strategy works best in Allyn, WA?
Allyn, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($543K prices, $1,188/mo rents) make it a reasonable choice.
What are rental rates like in Allyn, WA?
Investors in Allyn, WA typically see rents near $1,188/mo per month against $543K home values - a solid setup for rental cash flow.
You know 98524 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98524 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 98524 ranks in Shelton, WA
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