Real Estate Investing in Tenino, Washington (98589)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98589 (Tenino, 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.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 29.0 — 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 Tenino, WA (98589)?
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Market Analysis: 98589 Tenino
On balance, ZIP 98589 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $520K median. It rewards specialists, not generalists.
The 98589 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
The gap between 98589 and stronger Tenino ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 98589 ZIP's population of 7,296 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that registers the need for careful underwriting.
The right play in 98589 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Tenino:
Property Strategy for 98589
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $396,782 | $1,660 | 3.0% | +5.5% | $198,391 |
| 3BR | $538,737 | $2,280 | 3.0% | +6.7% | $179,579 |
| 4BR | $615,268 | $2,790 | 3.3% | +6.9% | $153,817 |
Market Trends
Home Value History (with trend line)
📊 How Does 98589 Compare?
| Metric | 98589 | Tenino | Olympia-Lacey-Tumwater, WA | Washington |
|---|---|---|---|---|
| Home Value | $520,344 | $520,344 | N/A | $591,536 |
| 5-Year CAGR | 3.1% | 3.1% | N/A | 5.9% |
| Avg Rent | $1,494 | $1,494 | N/A | - |
| Cap Rate | 2.2% | 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 98589 (Tenino, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $520,344 |
| Monthly Rent | $1,494 |
| Price-to-Rent | 29.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.2% |
| 5-Year IRR | 5.3% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 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 98589
Population: 7,296
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 98589
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,102 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What real estate strategy is ideal for Tenino, WA?
In Tenino, WA the solid play is typically careful cash-flow rentals with hands-on management. The combination of $520K prices and $1,494/mo rents suits that approach.
Is it easy to find good tenants in Tenino, WA?
Expect a solid tenant pool in Tenino, WA. The rental market absorbs $1,494/mo rents without meaningful friction.
How do landlord-tenant laws work in Tenino, WA?
For rental operators, Tenino, WA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Does Tenino, WA make sense for an investment property?
Tenino, WA rates 3.0/5 for investability. With median values at $520K and rents near $1,494/mo, the market offers reasonable fundamentals for rental investors.
Is house hacking profitable in Tenino, WA?
Tenino, WA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $520K price point reasonable to enter.
You know 98589 now. You don’t know where it ranks.
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How 98589 ranks in Olympia-Lacey-Tumwater, WA
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