$610,000
Listed at $649,0002 bd•1.75 ba•1,120 sq ft
1816 S 312th Street, Federal Way, WA 98003
• Listed 2025-08-28
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Prime development opportunity or those seeking long-term rental income or starter home in the heart of Federal Way! This expansive 26,224 sq ft corner lot is zoned RM-1800, possibly allowing for up to 14 multifamily units—ideal for builders, investors. The property includes a charming 2-bedroom starter home with utilities already on-site (water, sewer, electricity), plus gas available at the street. Located directly across from retail and just minutes from The Commons Mall, I-5 access, and public transit, this site offers unbeatable convenience and walkability. Whether you're looking to build now or hold for future appreciation, this parcel delivers flexibility, location, and upside.
Listed by Heidi Lee • We Lakeside
Listing updated: October 20, 2025 at 04:06am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2424886
Neighborhood mobility
Federal Way School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
Federal Way is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 17 days.
$913,195 Sold
3 months ago
5 bd•3.25 ba•~2,790 sq ft•Single Family
30317 11th Place S, Federal Way, WA 98003
0%
Over list
—
Days on market
0.6 mi
Distance
$505,000 Sold
4 months ago
3 bd•1 ba•~1,370 sq ft•Single Family
30212 10th Avenue S, Federal Way, WA 98003
1%
Over list
—
Days on market
0.8 mi
Distance
$983,950 Sold
4 months ago
5 bd•3 ba•~2,983 sq ft•Single Family
30332 11th Place S, Federal Way, WA 98003
0%
Over list
—
Days on market
0.8 mi
Distance
$634,990 Sold
5 months ago
4 bd•1.75 ba•~1,540 sq ft•Single Family
30041 14th Avenue S, Federal Way, WA 98003
0%
Over list
—
Days on market
0.7 mi
Distance
$1,000,000 Sold
5 months ago
5 bd•3.5 ba•~3,580 sq ft•Single Family
30714 19th Avenue S, Federal Way, WA 98003
3%
Over list
—
Days on market
0.3 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Sep 2026
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 20, 2025 at 04:06am (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
Open houses
No upcoming open houses scheduled for this property.
Nearby open houses (2)
See more →
Open Sat, Sep 12 +1$474,000
-$136,000 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $419K and $610K.
Rental earnings
$1,425/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$610,000Last sold price
1816 S 312th Street, Federal Way, WA 98003
$550,000Last sold price
31212 9th Avenue S, Federal Way, WA 98003
Estimate is a comp-supported screen, not an appraisal or broker price opinion. Ask RexMont for a property-specific pricing review before writing or accepting an offer.
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