Opportunity in Wenatchee, WA

[Amanda Dallman]

As Investors we have had to make a pivot over the last year, as LTR cashflow is tight, and STR have gotten so competitive. But there is still opportunity out there!

What's going on in Wenatchee? 

We're a valley in central Washington located at the East side of the Cascade mountains. Our city sits on the Columbia which powers several dams providing us with the countries cheapest power.  We're only 3 hours away from Seattle and have all the outdoor recreation you could want. As you can imagine, people are quickly moving in.  I am a realtor in the area and in the last few months I have been getting calls from companies looking for furnished houses to rent for their employees... and I don't have anything to offer them.  I had to ask myself what is going on and where is the opportunity. 

Here is what I have learned-

Microsoft has announced plans to put 6 data centers in East Wenatchee making them the single largest investor and tax payer in Douglas County. Last week I learned at the port meeting that Microsoft has also been approved to put in an additional 3 data centers in Malaga, WA (just south of Wenatchee) Making Microsoft also the largest investor and tax payer in Chelan County history.  The opportunity-  These companies need housing for their executives coming in and out of these projects which will take several years if not a decade to complete. 

Our hospitals system is also a large employer in that area, and there is not enough skilled staff in the area. When you do a quick search on google you will find over 200 job postings for traveling nurses! These are people that stay in a area for 3 months at a time. 

What makes Wenatchee a great area for mid-term rentals?

The county has a tight permitting code on STR. This keeps the STR competitions down! Here is a link to the county code

https://www.co.chelan.wa.us/co...

Investing in Wenatchee is a long-term hold opportunity with steady growth in appreciation. Here are a couple clips of the price per square foot increases over the last year, 3 years and 10 Years

The past year

The last 3 years

The last 10 Years

Happy Investing,

Amanda Dallman