Real Estate Investing in Cowiche, Washington (98947)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98947 (Cowiche, 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.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cowiche, WA (98947)?
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Market Analysis: 98947 Cowiche
The 98947 ZIP covers a section of Cowiche that demands careful diligence. Prices near $353K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 98947 can be a a viable market for hunting ground — but the discount at $353K reflects genuine risk that outside investors often underestimate.
Looking more closely, 98947 offers a low basis, the region around Cowiche has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 98947 ZIP's population of 3,146 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
Distressed ZIPs reward experience. solid returns are possible in 98947, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Cowiche:
Property Strategy for 98947
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $274,562 | $1,310 | 3.4% | +5.1% | $137,281 |
| 3BR | $364,633 | $1,820 | 3.6% | +5.1% | $121,544 |
| 4BR | $366,235 | $2,000 | 3.9% | +3.7% | $91,559 |
Market Trends
Home Value History (with trend line)
📊 How Does 98947 Compare?
| Metric | 98947 | Cowiche | Yakima, WA | Washington |
|---|---|---|---|---|
| Home Value | $353,236 | $360,771 | N/A | $591,536 |
| 5-Year CAGR | 2.6% | 2.4% | N/A | 5.9% |
| Avg Rent | $1,179 | $1,134 | N/A | - |
| Cap Rate | 2.6% | 2.5% | - | - |
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 98947 (Cowiche, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $353,236 |
| Monthly Rent | $1,179 |
| Price-to-Rent | 25.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.2% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +2.6% ▲ |
| 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 (2.6%). 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 98947
Population: 3,146
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 98947
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
Frequently Asked Questions
Where do home prices stand in Cowiche, WA?
Expect median prices around $353K in Cowiche, WA. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
How do landlord-tenant laws work in Cowiche, WA?
Landlord-friendliness in Cowiche, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Are renters plentiful in Cowiche, WA?
The tenant pool in Cowiche, WA is solid, supported by local employment and population fundamentals. Rents of $1,179/mo are well-absorbed by the market.
Which real estate strategy fits Cowiche, WA?
Cowiche, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($353K prices, $1,179/mo rents) make it a reasonable choice.
What do rentals go for in Cowiche, WA?
Cowiche, WA rentals go for roughly $1,179/mo a month. That puts gross yield in solid territory relative to $353K acquisition costs.
You know 98947 now. You don’t know where it ranks.
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How 98947 ranks in Yakima, WA
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