Real Estate Investing in Appleton, Washington (98602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98602 (Appleton, 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: 48.1% 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 25.3 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Appleton, WA (98602)?
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Market Analysis: 98602 Appleton
The 98602 ZIP in Appleton, WA is a local-operator market. Outside capital chasing a $350K entry has to pair deep knowledge with the discount.
On the rental side, the numbers look inviting — $350K purchase price, 0.0% nominal cap — the work to hit that pro forma in 98602 is substantial and deserves full respect.
Within WA, ZIP 98602 trails on several market indicators that neighboring Klickitat County submarkets outperform. The gap is real and resilient enough to shape underwriting.
The 98602 ZIP's population of 198 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
Strategically, 98602 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Appleton:
Market Trends
Home Value History (with trend line)
📊 How Does 98602 Compare?
| Metric | 98602 | Appleton | Washington |
|---|---|---|---|
| Home Value | $350,150 | $350,150 | $591,536 |
| 5-Year CAGR | 1.7% | 1.7% | 5.9% |
| Avg Rent | $1,152 | $1,152 | - |
| Cap Rate | 2.6% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98602 (Appleton, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $350,150 |
| Monthly Rent | $1,152 |
| Price-to-Rent | 25.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 4.3% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +0.6% ▲ |
| 5-Year CAGR | +1.7% ▲ |
| 10-Year CAGR | N/A |
🏠 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 (2.6%). 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 98602
Population: 198
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
What is the rental occupancy rate in Appleton, WA?
Appleton, WA carries elevated vacancy risk. Expect even-keeled absorption at market rents of $1,152/mo.
What real estate strategy is ideal for Appleton, WA?
A careful cash-flow rentals with hands-on management strategy Appleton, WA best. The market produces stable results for that approach at the $350K price point.
Are rents high in Appleton, WA?
The typical rental in Appleton, WA commands about $1,152/mo monthly. That rent profile stable cash flow against the $350K purchase basis.
Does a duplex house hack pencil in Appleton, WA?
Appleton, WA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,152/mo rent level.
Is Appleton in WA worth investing in?
With a 2.0/5 investability score, Appleton, WA ranks as a solid market for rental property investors. Median prices of $350K and rents of $1,152/mo drive the underlying numbers.
You know 98602 now. You don’t know where it ranks.
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