Real Estate Investing in Castle Rock, Washington (98611)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98611 (Castle Rock, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 27.0 — 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 Castle Rock, WA (98611)?
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Market Analysis: 98611 Castle Rock
Investors eyeing 98611 need to respect the fundamentals at play. Home values of $487K come alongside slower price movement and elevated management overhead.
Rent of $1,503/mo on a $487K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98611 sits below the stated 0.0% once reality is priced in.
The gap between 98611 and stronger Castle Rock ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The demographic picture in 98611 includes headwinds that any investor should price in. Income distribution skews lower than Castle Rock averages, and tenant stability requires active management.
trends toward 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 Castle Rock:
Property Strategy for 98611
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $372,851 | $1,670 | 3.2% | +6.2% | $186,425 |
| 3BR | $496,361 | $2,320 | 3.4% | +6.6% | $165,454 |
| 4BR | $547,425 | $2,800 | 3.7% | +6.9% | $136,856 |
| 5BR | $588,778 | — | — | +6.9% | $117,756 |
Market Trends
Home Value History (with trend line)
📊 How Does 98611 Compare?
| Metric | 98611 | Castle Rock | Longview, WA | Washington |
|---|---|---|---|---|
| Home Value | $487,160 | $487,160 | N/A | $591,536 |
| 5-Year CAGR | 3.2% | 3.2% | N/A | 5.9% |
| Avg Rent | $1,503 | $1,503 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
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 98611 (Castle Rock, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $487,160 |
| Monthly Rent | $1,503 |
| Price-to-Rent | 27.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.7% |
| Cap Rate | 2.4% |
| 5-Year IRR | 5.6% |
📈 Home Appreciation
| 1-Year | +2.8% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 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 (2.4%). 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 98611
Population: 9,367
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 98611
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 1,259 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Castle Rock, WA a good place for real estate investing?
Investors tracking Castle Rock, WA will find a 3.0/5 rating supported by $487K median home values and $1,503/mo rents. That profile suits long-term holders targeting predictable returns.
Does house hacking work in Castle Rock, WA?
Castle Rock, WA offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,503/mo rent level.
Are there empty rentals in Castle Rock, WA?
Castle Rock, WA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the typical home price in Castle Rock, WA?
Typical homes in Castle Rock, WA go for around $487K. The 5-year CAGR of 0.0% measured price movement.
How much is rent in Castle Rock, WA?
Rent in Castle Rock, WA is around $1,503/mo. The resulting rent-to-value relationship with $487K pricing is reasonable for most investor models.
You know 98611 now. You don’t know where it ranks.
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How 98611 ranks in Longview, WA
Every ZIP in this metro, ranked. Free.
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