$1,599,000
Est. $8,060/mo3 bd•2 ba•2,500 sq ft
5008 Ne 2nd Street, Renton, WA 98059
• Listed 2026-05-13•36 days on market
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Based on information submitted to the MLS GRID as of May 15, 2026 at 09:00pm (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.
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ATTENTION BUILDERS & SAVVY INVESTORS! A rare, high-yield opportunity in the heart of the sought-after East Renton Highlands. This premier 1.16-acre flat parcel offers the perfect "hybrid" investment: a turnkey, income-producing rental with massive, shovel-ready development upside. CASH FLOW WHILE YOU PERMIT: The existing home was fully remodeled in 2022. It currently generates $3,800/month on a m-to-m lease. This consistent income covers your holding costs while you permits and platting. DEVELOPMENT POTENTIAL & HB 1337 DENSITY: The heavy lifting is done! Over $200,000 has been invested in design, civil engineering, and city coordination for a 6-lot single-family subdivision. Take your ROI even further by leveraging Washington’s HB 1337—the potential exists to design up to 3 units per lot, creating a high-density, 18-unit community in a market starved for inventory. "SHOVEL-READY" ADVANTAGE: 100% of the civil engineering was previously completed and approved. While it expired last year, the comprehensive files are ready for a streamlined revival. Skip the grueling 2-year design phase and jump straight into a high-margin project. PRIME TECH CORRIDOR LOCATION: Completely flat, usable lot abutting newer construction on all sides. Enjoy a seamless commute with easy access to I-405, Hwy 169, and major tech hubs. Just minutes from The Landing, Gene Coulon Park, and top-tier Highlands shopping. Bring your crew and unlock the maximum value of this Highlands gem!
Listed by Shelly Xiuping Hu • Globenex Realty
Listing updated: May 15, 2026 at 09:00pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2523358
Open houses
No upcoming open houses scheduled for this property.
$1,038,000
-$561,000 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $850K and $1.3M.
Rental earnings
$3,125/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$1,068,000Last sold price
154 Hoquiam Avenue Ne, Renton, WA 98059
$1,299,000Last sold price
5322 Ne 2nd Street, Renton, WA 98059
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.
5008 Ne 2nd Street, Renton, WA 98059
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
$9,452 per month
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School information is unavailable for this listing. School boundaries can change, so verify the assigned schools with the district before purchasing.
Renton 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 for about 1% below list price.
Time on market: Days-on-market data not available for this area.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jun 2026
