Real Estate Investing in Naselle, Washington (98638)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98638 (Naselle, 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.
- Elevated vacancy: 10.2% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 30.3 — 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 Naselle, WA (98638)?
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Market Analysis: 98638 Naselle
ZIP 98638 inside Pacific County looks affordable on the surface — median value of $403K — but the discount exists for reasons that a careful buyer should understand before committing.
Rent of $1,107/mo on a $403K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98638 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 98638 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 98638 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 98638 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Naselle:
Market Trends
Home Value History (with trend line)
📊 How Does 98638 Compare?
| Metric | 98638 | Naselle | Washington |
|---|---|---|---|
| Home Value | $402,660 | $406,155 | $591,536 |
| 5-Year CAGR | 3.8% | 3.8% | 5.9% |
| Avg Rent | $1,107 | $1,112 | - |
| Cap Rate | 2.1% | 2.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98638 (Naselle, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $402,660 |
| Monthly Rent | $1,107 |
| Price-to-Rent | 30.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.1% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 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 (2.1%). 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 98638
Population: 1,545
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 98638
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
What is the rental occupancy rate in Naselle, WA?
Expect elevated vacancy in Naselle, WA. Rents at $1,107/mo are absorbed by the tenant base without meaningful lag.
Is housing expensive in Naselle, WA?
Expect median prices around $403K in Naselle, WA. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
Is Naselle, WA a smart market for rental property?
Yes - Naselle, WA a 3.0/5 investability score. With $403K home prices against $1,107/mo monthly rent, the market delivers a reasonable entry point for new investors.
What real estate strategy is ideal for Naselle, WA?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Naselle, WA. The numbers - $403K homes against $1,107/mo rents - support that play.
Where do rents currently stand in Naselle, WA?
Expect rents around $1,107/mo per month in Naselle, WA. With home values at $403K, the yield math works out to reasonable levels for rental investors.
You know 98638 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98638 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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