Real Estate Investing in Leavenworth, Washington (98847)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98847 (Leavenworth, 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: 18.8% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.2% CAGR).
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 33.7 — 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 Leavenworth, WA (98847)?
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Market Analysis: 98847 Leavenworth
ZIP 98847 inside Chelan County looks affordable on the surface — median value of $506K — but the discount exists for reasons that a careful buyer should understand before committing.
The 98847 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 98847 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 98847 ZIP's population of 2,034 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Experienced landlords with local relationships tend to find 98847 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 Leavenworth:
Market Trends
Home Value History (with trend line)
📊 How Does 98847 Compare?
| Metric | 98847 | Leavenworth | Wenatchee, WA | Washington |
|---|---|---|---|---|
| Home Value | $505,749 | $592,259 | N/A | $591,536 |
| 5-Year CAGR | 1.2% | 1.0% | N/A | 5.9% |
| Avg Rent | $1,251 | $1,421 | N/A | - |
| Cap Rate | 1.9% | 1.9% | - | - |
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 98847 (Leavenworth, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $505,749 |
| Monthly Rent | $1,251 |
| Price-to-Rent | 33.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 1.9% |
| 5-Year IRR | 3.2% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +0.1% ▲ |
| 5-Year CAGR | +1.2% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 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 (1.9%). 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 98847
Population: 2,034
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 98847
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 1,302 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the median home value in Leavenworth, WA?
Leavenworth, WA home values average about $506K. That price point suits investors targeting rentals with $1,251/mo in monthly income.
How strong is the working-renter base in Leavenworth, WA?
Leavenworth, WA offers a reliable renter base at the $1,251/mo rent level. Tenant turnover is reasonable for well-managed properties.
Does a duplex house hack pencil in Leavenworth, WA?
House hacking works a challenging in Leavenworth, WA. Rents of $1,251/mo against $506K acquisition make the strategy solid for owner-occupants.
How strong are rents in Leavenworth, WA?
Expect rents around $1,251/mo per month in Leavenworth, WA. With home values at $506K, the yield math works out to reasonable levels for rental investors.
How does Leavenworth, WA rate as a rental market?
Our data puts Leavenworth, WA at 2.0/5 for investability. Home prices of $506K and rents around $1,251/mo create a solid backdrop for investor activity.
You know 98847 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98847 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.
How 98847 ranks in Wenatchee, WA
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