Real Estate Investing in Colbert, Washington (99005)
Should you buy in 99005 (Colbert, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 27.6 — hard to cash-flow at these prices.
What’s happening in Colbert, WA (99005)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 99005 Colbert
This part of Spokane County is not an easy win. The 99005 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
From an investor standpoint, the numbers look inviting — $601K purchase price, 0.0% nominal cap — the work to hit that pro forma in 99005 is substantial and deserves full respect.
ZIP 99005's metrics run below Spokane County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
From an investor standpoint, 10,682 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
New investors are better served looking at Colbert's stable or hybrid ZIPs before stepping into 99005. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Colbert:
Property Strategy for 99005
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $510,442 | $1,710 | 2.4% | +5.8% | $255,221 |
| 3BR | $550,455 | $2,350 | 3.1% | +6.3% | $183,485 |
| 4BR | $587,724 | $2,760 | 3.4% | +6.4% | $146,931 |
| 5BR | $700,905 | — | — | +6.7% | $140,181 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 99005 Compare?
| Metric | 99005 | Colbert | Spokane-Spokane Valley, WA | Washington |
|---|---|---|---|---|
| Home Value | $601,335 | $601,335 | N/A | $591,536 |
| 5-Year CAGR | 4.5% | 4.5% | N/A | 5.9% |
| Avg Rent | $1,815 | $1,815 | N/A | - |
| Cap Rate | 2.4% | 2.4% | - | - |
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 99005 (Colbert, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $601,335 |
| Monthly Rent | $1,815 |
| Price-to-Rent | 27.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.4% |
| 5-Year IRR | 6.8% |
📈 Home Appreciation
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +4.5% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.4%). 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 99005
Population: 10,682
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 99005
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 3,743 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are homes affordable in Colbert, WA?
Colbert, WA home values average about $601K. That price point suits investors targeting rentals with $1,815/mo in monthly income.
How does Colbert, WA rate as a rental market?
Colbert, WA rates 3.0/5 for investability. With median values at $601K and rents near $1,815/mo, the market offers reasonable fundamentals for rental investors.
Can I live-in-and-rent in Colbert, WA?
House hacking in Colbert, WA is a challenging. With home values around $601K and rents at $1,815/mo, owner-occupants can offset a meaningful share of PITI.
What is the average monthly rent in Colbert, WA?
Rent in Colbert, WA is around $1,815/mo. The resulting rent-to-value relationship with $601K pricing is reasonable for most investor models.
Is WA a landlord-friendly state?
Landlord-friendliness in Colbert, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
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