$820,000
Est. $4,542/moPrice reduced $75,900 from the original $895,900 asking price
2,788 sq ft
7418 207th Avenue E, Bonney Lake, WA 98391
• Listed May 22, 2026•107 days active · 107 cumulative
Listing Broker: Rethinking Real Estate LLC; Don J. Karstedt; 253-255-1299; don@brokerdon.com
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Listing Broker: Rethinking Real Estate LLC; Don J. Karstedt; 253-255-1299; don@brokerdon.com
About this home
Live at Lake Tapps while rental income from next door helps offset housing costs. Rare owner-occupant or investment opportunity on a quiet dead-end street surrounded by mature trees. Each spacious unit offers nearly 1,400 sq ft with 3 bedrooms, 2.5 baths, full-size laundry, large primary suite with walk-in closet, private deck and backyard, plus an oversized 2-car garage. Vacant Unit 2 is move-in ready and recently refreshed with new interior paint, new laminate flooring throughout the main level, new front-load washer and dryer, new water heater, new range and granite countertops. Unit 1 has a reliable month-to-month tenant who would like to stay, providing immediate rental income. Unit 1 also had a furnace replacement and laminate kitchen/dining flooring in 2022. The entire building received a new roof and gutters in 2026. The previous Unit 2 tenant remained for 9 years, reflecting the property's strong tenant appeal. A standout feature is neighborhood membership with private access to Church Lake Park on Lake Tapps, including picnic areas, playground and boat launch access, a rare benefit in an area with limited public lake access. Owned by the sellers since new in 2003, this duplex combines long-term rental appeal, attractive pro forma income potential and the flexibility to live in one side while income from the other helps reduce monthly housing expense. Enjoy Lake Tapps access and a residential setting while building equity with income-producing real estate.
Listed by Don J. Karstedt • Rethinking Real Estate LLC
Listing updated: September 21, 2026 at 09:37am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2527663
Around this home
How much should you offer?
7418 207th Avenue E, Bonney Lake, WA 98391
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
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.
Property details
Layout
- Duplex
- 1,000 sq ft garage
Flooring
- Laminate
- Vinyl
- Carpet
Heating & cooling
- Forced Air heating
- None cooling
Schools
Ratings via SchoolDiggerSumner-Bonney Lake School District
- Emerald Hills ElementaryPublic · Grades K-5 · State rank 73 of 1,13810/10
- Lakeridge Middle SchoolPublic · Grades 6-8 · State rank 52 of 51410/10
- Bonney Lake High SchoolPublic · Grades 9-12 · State rank 55 of 3968/10
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.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 2
- Units in building
- 2
- Units below grade
- false
- Building square feet
- 2,788 sq ft
Income & expenses
- Gross scheduled income
- $63,600
- Total monthly income
- $2,310
- Gross adjusted income
- $63,600
- Net operating income
- $45,543
- Cap rate
- 5.55%
- Gross rent multiplier
- 12.89
- Total expenses
- $18,057
- Insurance
- $1,416
- Other expenses
- $4,718
- Water / sewer / garbage paid by
- 4126
Parking & storage
- Parking spaces
- 8
- Uncovered parking
- 4
- Covered spaces
- 4
Taxes & assessment
- Annual taxes
- $7,797
- Tax year
- 2025
- Financing
- Cash, Conventional, FHA, VA Loan
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
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Sales & Tax Records for 7418 207th Avenue E
NWMLS via MLS Grid · Pierce County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Sep 21, 2026Price reducedNWMLS via MLS Grid · #2527663$820,000$294/sq ft
- May 22, 2026ListedNWMLS via MLS Grid · #2527663$895,900$321/sq ft
- May 7, 2003SoldNWMLS via MLS Grid · #22250113$249,000$89/sq ft
- Nov 5, 2002PendingNWMLS via MLS Grid · #22250113$246,900$89/sq ft
- Nov 4, 2002ListedNWMLS via MLS Grid · #22250113$246,900$89/sq ft
Down payment assistance
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
Source: program list compiled by RexMont from ARCH (A Regional Coalition for Housing) member-jurisdiction information. This is not Northwest MLS listing data.
Mortgage payment forecast
$5,417 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: Rethinking Real Estate LLC; Don J. Karstedt; 253-255-1299; don@brokerdon.com
Market pulse
Bonney Lake is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 70 days.
Recent sales nearby
Within 1 mile · last 6 months$2,750,000 Sold
1 day ago
7 bd•6 ba•~6,947 sq ft•Single Family
20404 Church Lake Drive E, Bonney Lake, WA 98391
7%
Under list
63
Days on market
0.5 mi
Distance
$1,480,000 Sold
4 days ago
4 bd•2.5 ba•~2,252 sq ft•Single Family
7619 214th Avenue E, Bonney Lake, WA 98391
6%
Under list
110
Days on market
0.6 mi
Distance
$865,000 Sold
4 days ago
5 bd•2.75 ba•~3,116 sq ft•Single Family
7704 Connells Prairie Road E, Bonney Lake, WA 98391
4%
Under list
82
Days on market
0.4 mi
Distance
$1,250,000 Sold
4 days ago
4 bd•2.5 ba•~2,989 sq ft•Single Family
19917 Church Lake Rd E, Bonney Lake, WA 98391
4%
Under list
46
Days on market
0.6 mi
Distance
$565,000 Sold
2 weeks ago
3 bd•1.75 ba•~1,640 sq ft•Single Family
20411 Church Lake Road E, Bonney Lake, WA 98391
0%
Over list
68
Days on market
0.5 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 Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 17, 2026 at 2:51 PM PT (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.
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