Real Estate Investing in South Bend, Washington (98586)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98586 (South Bend, 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: 13.5% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- Elevated poverty: 22.8% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in South Bend, WA (98586)?
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Market Analysis: 98586 South Bend
ZIP 98586 in South Bend, WA carries a durable set of headwinds. Home values near $304K and rents of $1,044/mo sit inside a market where underwriting has to be tight.
Put differently, the numbers look inviting — $304K purchase price, 0.0% nominal cap — the work to hit that pro forma in 98586 is substantial and deserves full respect.
In the broader WA picture, 98586 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
A impressive renter share of 42% in 98586 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 98586 is an operator game, not a passive one. Looking more closely, entry prices of $304K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in South Bend:
Market Trends
Home Value History (with trend line)
📊 How Does 98586 Compare?
| Metric | 98586 | South Bend | Washington |
|---|---|---|---|
| Home Value | $304,404 | $304,404 | $591,536 |
| 5-Year CAGR | 4.5% | 4.5% | 5.9% |
| Avg Rent | $1,044 | $1,044 | - |
| Cap Rate | 2.7% | 2.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98586 (South Bend, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $304,404 |
| Monthly Rent | $1,044 |
| Price-to-Rent | 24.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.2% |
📈 Home Appreciation
| 1-Year | +4.1% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +8.9% ▲ |
🏠 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 (2.7%). 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 98586
Population: 1,848
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 98586
Schools in This ZIP Code
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.
Frequently Asked Questions
How do experienced investors play South Bend, WA?
South Bend, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($304K prices, $1,044/mo rents) make it a reasonable choice.
Is it easy to find good tenants in South Bend, WA?
Tenant quality in South Bend, WA ranks as solid. Landlords generally report reliable occupancy at market rents of $1,044/mo.
Are eviction rules reasonable in South Bend, WA?
South Bend, WA operates under WA law, which is tenant-protective overall for landlords. Expect measured treatment in typical lease and eviction cases.
What is the rental occupancy rate in South Bend, WA?
Expect elevated vacancy in South Bend, WA. Rents at $1,044/mo are absorbed by the tenant base without meaningful lag.
Is South Bend, WA a good market for FHA house hackers?
The house hack math a challenging in South Bend, WA. Owner-occupant buyers benefit from the $1,044/mo rents and $304K home values.
You know 98586 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98586 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.
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