Real Estate Investing in Stevenson, Washington (98648)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98648 (Stevenson, 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: 10.9% 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 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 Stevenson, WA (98648)?
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Market Analysis: 98648 Stevenson
Turning to rents, ZIP 98648 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $564K median. It rewards specialists, not generalists.
Looking more closely, the numbers look inviting — $564K purchase price, 0.0% nominal cap — the work to hit that pro forma in 98648 is substantial and deserves full respect.
Regionally, 98648 sits on the difficult end of the WA spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 98648 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 98648 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 Stevenson:
Property Strategy for 98648
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $442,494 | $1,800 | 2.9% | +5.9% | $221,247 |
| 3BR | $582,498 | $2,470 | 3.1% | +6.9% | $194,166 |
| 4BR | $629,672 | $2,900 | 3.3% | +7.0% | $157,418 |
Market Trends
Home Value History (with trend line)
📊 How Does 98648 Compare?
| Metric | 98648 | Stevenson | Washington |
|---|---|---|---|
| Home Value | $564,379 | $564,379 | $591,536 |
| 5-Year CAGR | 3.7% | 3.7% | 5.9% |
| Avg Rent | $1,620 | $1,620 | - |
| Cap Rate | 2.2% | 2.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98648 (Stevenson, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $564,379 |
| Monthly Rent | $1,620 |
| Price-to-Rent | 29.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.4% |
| Cap Rate | 2.2% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +2.3% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 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 98648
Population: 3,353
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 98648
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
Is housing expensive in Stevenson, WA?
Median home price in Stevenson, WA is near $564K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
Are eviction rules reasonable in Stevenson, WA?
WA ranks as a tenant-protective state for landlord-tenant law. Stevenson generally follows the statewide framework, so landlords face reasonable operating rules.
What is the average monthly rent in Stevenson, WA?
Stevenson, WA rentals go for roughly $1,620/mo a month. That puts gross yield in solid territory relative to $564K acquisition costs.
How should investors approach Stevenson, WA?
Stevenson, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($564K prices, $1,620/mo rents) make it a reasonable choice.
How strong is tenant demand in Stevenson, WA?
Tenant quality in Stevenson, WA ranks as solid. Landlords generally report stable occupancy at market rents of $1,620/mo.
You know 98648 now. You don’t know where it ranks.
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