Real Estate Investing in Odessa, Washington (99159)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 99159 (Odessa, WA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.9% of homes vacant — above national norms.
- 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 Odessa, WA (99159)?
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Market Analysis: 99159 Odessa
Not every below-median market is a bargain. Odessa's 99159 ZIP shows signals that favor experienced operators who can absorb the risk $220K pricing implies.
Distressed markets are won on execution, not on spreadsheets. ZIP 99159 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 99159 sits on the difficult end of the WA spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 99159 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategically, 99159 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 Odessa:
Market Trends
Home Value History (with trend line)
📊 How Does 99159 Compare?
| Metric | 99159 | Odessa | Othello, WA | Washington |
|---|---|---|---|---|
| Home Value | $219,579 | $219,579 | N/A | $591,536 |
| 5-Year CAGR | 6.8% | 6.8% | N/A | 5.9% |
| Avg Rent | $999 | $999 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 99159 (Odessa, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $219,579 |
| Monthly Rent | $999 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +1.4% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +10.2% ▲ |
🏠 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 (3.6%). 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 99159
Population: 1,177
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 99159
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
What are rental rates like in Odessa, WA?
Investors in Odessa, WA typically see rents near $999/mo per month against $220K home values - a solid setup for rental cash flow.
What price range are homes in Odessa, WA?
Odessa, WA median home values land near $220K. That is reasonable territory for investors looking at $999/mo-per-month rentals.
Is Odessa, WA a good market for buy-and-hold investors?
Odessa, WA sits at an investability rating of 3.0/5, with median home values near $220K and average rents around $999/mo. That combination puts it in the robust tier for investor interest.
Is Odessa, WA suited for a house hack?
The house hack math a challenging in Odessa, WA. Owner-occupant buyers benefit from the $999/mo rents and $220K home values.
Which real estate strategy fits Odessa, WA?
A careful cash-flow rentals with hands-on management strategy Odessa, WA best. The market produces predictable results for that approach at the $220K price point.
You know 99159 now. You don’t know where it ranks.
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