Real Estate Investing in Chewelah, Washington (99109)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 99109 (Chewelah, WA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.0% 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 28.6 — 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 Chewelah, WA (99109)?
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Market Analysis: 99109 Chewelah
ZIP 99109 in Chewelah, WA carries a substantial set of headwinds. Home values near $356K and rents of $1,035/mo sit inside a market where underwriting has to be tight.
Turning to rents, the numbers look inviting — $356K purchase price, 0.0% nominal cap — the work to hit that pro forma in 99109 is substantial and deserves full respect.
The gap between 99109 and stronger Chewelah ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 99109 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategically, 99109 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Chewelah:
Property Strategy for 99109
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $294,789 | $1,150 | 2.8% | +8.4% | $147,395 |
| 3BR | $388,157 | $1,600 | 3.0% | +7.9% | $129,386 |
| 4BR | $410,963 | $1,930 | 3.4% | +7.5% | $102,741 |
Market Trends
Home Value History (with trend line)
📊 How Does 99109 Compare?
| Metric | 99109 | Chewelah | Spokane-Spokane Valley, WA | Washington |
|---|---|---|---|---|
| Home Value | $355,554 | $355,554 | N/A | $591,536 |
| 5-Year CAGR | 3.7% | 3.7% | N/A | 5.9% |
| Avg Rent | $1,035 | $1,035 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
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 99109 (Chewelah, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $355,554 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 28.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (2.3%). 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 99109
Population: 5,075
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 99109
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
How qualified is the tenant pool in Chewelah, WA?
Working renters make up the core of the Chewelah, WA tenant base. The pool is reasonable for investors targeting long-term holds.
How does Chewelah, WA stack up for property investment?
The 3.0/5 investability rating in Chewelah, WA reflects its $356K prices and $1,035/mo rents. Investors generally consider it a solid option within WA.
Where do home prices stand in Chewelah, WA?
Typical homes in Chewelah, WA go for around $356K. The 5-year CAGR of 0.0% reliable price movement.
Are landlord laws favorable in Chewelah, WA?
Chewelah, WA falls under WA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
How tight is the rental market in Chewelah, WA?
Vacancy in Chewelah, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,035/mo.
You know 99109 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 99109 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 99109 ranks in Spokane-Spokane Valley, WA
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