Real Estate Investing in Loon Lake, Washington (99148)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 99148 (Loon Lake, 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.
- High vacancy: 49.6% 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 30.3 — 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 Loon Lake, WA (99148)?
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Market Analysis: 99148 Loon Lake
This part of Stevens County is not an easy win. The 99148 ZIP sits at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
From a cash-flow lens, the numbers look inviting — $426K purchase price, 0.0% nominal cap — the work to hit that pro forma in 99148 is substantial and deserves full respect.
In the broader WA picture, 99148 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Employment concentration in 99148 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Loon Lake's stable or hybrid ZIPs before stepping into 99148. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Loon Lake:
Property Strategy for 99148
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $385,683 | $1,300 | 2.4% | +7.5% | $192,841 |
| 3BR | $488,960 | $1,800 | 2.7% | +6.9% | $162,987 |
| 4BR | $670,217 | $2,170 | 2.3% | +6.7% | $167,554 |
Market Trends
Home Value History (with trend line)
📊 How Does 99148 Compare?
| Metric | 99148 | Loon Lake | Spokane-Spokane Valley, WA | Washington |
|---|---|---|---|---|
| Home Value | $426,021 | $426,021 | N/A | $591,536 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 5.9% |
| Avg Rent | $1,170 | $1,170 | N/A | - |
| Cap Rate | 2.1% | 2.1% | - | - |
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 99148 (Loon Lake, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $426,021 |
| Monthly Rent | $1,170 |
| Price-to-Rent | 30.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.3% |
| Cap Rate | 2.1% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 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 (2.1%). 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 99148
Population: 2,381
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 99148
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 home prices like in Loon Lake, WA?
In Loon Lake, WA the median home value sits at $426K. Against the broader WA market, that reads as reasonable for most investors.
Is Loon Lake, WA a friendly market for rental owners?
Rental owners in Loon Lake, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
How tight is the rental market in Loon Lake, WA?
Vacancy in Loon Lake, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,170/mo.
Which investment style suits Loon Lake, WA?
Most investors in Loon Lake, WA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How strong is the working-renter base in Loon Lake, WA?
Loon Lake, WA offers a steady renter base at the $1,170/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 99148 now. You don’t know where it ranks.
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How 99148 ranks in Spokane-Spokane Valley, WA
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