Real Estate Investing in Mazama, Washington (98833)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98833 (Mazama, 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: 74.8% 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 55.1 — 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 Mazama, WA (98833)?
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Market Analysis: 98833 Mazama
ZIP 98833 in Mazama, WA carries a healthy set of headwinds. Home values near $678K and rents of $1,026/mo sit inside a market where underwriting has to be tight.
The investment case in 98833 is solid only for operators who understand what they are buying. A $678K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 98833 sits on the difficult end of the WA spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Turning to rents, 238 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 98833 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 Mazama:
Market Trends
Home Value History (with trend line)
📊 How Does 98833 Compare?
| Metric | 98833 | Mazama | Washington |
|---|---|---|---|
| Home Value | $678,019 | $678,019 | $591,536 |
| 5-Year CAGR | 3.6% | 3.6% | 5.9% |
| Avg Rent | $1,026 | $1,026 | - |
| Cap Rate | 1.2% | 1.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98833 (Mazama, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $678,019 |
| Monthly Rent | $1,026 |
| Price-to-Rent | 55.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 1.8% |
| Cap Rate | 1.2% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | +3.9% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | +3.6% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 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 (1.2%). 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 98833
Population: 238
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
How high is vacancy risk in Mazama, WA?
Mazama, WA sees elevated vacancy, which is reasonable relative to the broader WA rental market.
Should investors consider Mazama, WA?
Yes - Mazama, WA a 2.0/5 investability score. With $678K home prices against $1,026/mo monthly rent, the market delivers a reasonable entry point for new investors.
What is the tenant pool like in Mazama, WA?
Mazama, WA draws a even-keeled base of working renters. Demand at the $1,026/mo rent level is reasonable for standard single-family and small multi rentals.
Are landlord laws favorable in Mazama, WA?
For rental operators, Mazama, WA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
What type of investing works in Mazama, WA?
In Mazama, WA the solid play is typically careful cash-flow rentals with hands-on management. The combination of $678K prices and $1,026/mo rents suits that approach.
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