Real Estate Investing in Everett, Washington (98204)
Should you buy in 98204 (Everett, 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.
- High price-to-rent: Price-to-rent ratio 26.4 — hard to cash-flow at these prices.
What’s happening in Everett, WA (98204)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98204 Everett
ZIP 98204 in Everett, WA carries a robust set of headwinds. Home values near $572K and rents of $1,802/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98204 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader WA picture, 98204 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 98204 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 98204 is an operator game, not a passive one. From an investor standpoint, entry prices of $572K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Everett:
Property Strategy for 98204
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $243,134 | $1,850 | 5.5% | +4.6% | $243,134 |
| 2BR | $345,357 | $2,160 | 4.5% | +5.4% | $172,679 |
| 3BR | $591,177 | $2,850 | 3.5% | +7.8% | $197,059 |
| 4BR | $699,102 | $3,320 | 3.4% | +7.7% | $174,776 |
| 5BR | $750,524 | — | — | +7.7% | $150,105 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98204 Compare?
| Metric | 98204 | Everett | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $571,797 | $518,037 | N/A | $591,536 |
| 5-Year CAGR | 5.7% | 5.2% | N/A | 5.9% |
| Avg Rent | $1,802 | $1,961 | N/A | - |
| Cap Rate | 2.5% | 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 98204 (Everett, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98204 (Everett, WA)?
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Property managers serving Snohomish County
Manage rentals here? List your business →inTrust Property Management offers HOA Management Services in King & Snohomish Counties. summary from their website
Haven Property Management is a full-service residential management company based in Federal Way, WA, covering the Greater Puget Sound area. summary from their website
Navigate Community Management provides community management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $571,797 |
| Monthly Rent | $1,802 |
| Price-to-Rent | 26.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +1.2% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 Rent Trends
| 1-Year | -3.2% ▼ |
| 3-Year CAGR | -0.4% ▼ |
| 5-Year CAGR | +3.4% ▲ |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.5%). 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 98204
Population: 43,961
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 98204
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 12,483 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are rents high in Everett, WA?
Rent in Everett, WA is around $1,802/mo. The resulting rent-to-value relationship with $572K pricing is reasonable for most investor models.
What is the tenant pool like in Everett, WA?
Tenant demand in Everett, WA is solid. The local workforce $1,802/mo rents across most rental classes.
What is the average home sale price in Everett, WA?
In Everett, WA the median home value sits at $572K. Against the broader WA market, that reads as reasonable for most investors.
Are there empty rentals in Everett, WA?
Occupancy in Everett, WA runs predictable with elevated vacancy. Well-priced units at $1,802/mo lease on reasonable timelines.
How landlord-friendly is Everett, WA?
Everett, WA operates under WA law, which is tenant-protective overall for landlords. Expect steady treatment in typical lease and eviction cases.
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