Active
Listed by Andreas George Andreadis • Windermere R.E. Port Townsend.
FOR SALE
$400,000
Est. $2,018/mo99 Xx Rainier Street, Port Townsend, WA 98368
• Listed 2026-05-22•16 days on market
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About this home
Discover a rare and unique investment opportunity in the City of Port Townsend. This R-IV Multi-Family parcel is positioned at the corner of Rainier Street and Discovery Road. Much of the critical infrastructure is already established, including utilities in the street, brand-new sidewalks along Discovery Road, and integrated walking trails on Rainier Street that enhance the site’s future curb appeal and walkability. This property benefits from R-IV high-density zoning and the City of Port Townsend’s Multi-Family Tax Exemption (MFTE) programs. These incentives provide a clear path to maximizing ROI in a high-demand housing market. The R-IV zoning allows for 10–24 dwellings per structure, with a total density range of 15 to 48 units per 40,000 square feet (~1 acre). Whether you envision a residential complex or a maximum-density apartment project, this site offers the rare combination of established infrastructure, tax advantages, and a premier location. Secure one of Port Townsend's high-density parcels in this vibrant community and bring your vision to life.
Property type
Single Family
Year built
Not listed
Open houses
No upcoming open houses scheduled for this property.
Around this home
RexMont Market Signal©
$450,000
+$50,000 over list price
Nearby comparable homes
RexMont uses 2 strongest recent nearby sales, priced between $385K and $515K.3 outlier sales were excluded from this snapshot.
Rental earnings
$1,350/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
Viewing 1 of 2
$515,000Last sold price
1 beds0 baths990 sq ft
2475 15th Street, Port Townsend, WA 98368
$520/sq ft0.1 mi awaysmaller lot
$385,000Last sold price
1 beds0 baths544 sq ft
1323 8th Street, Port Townsend, WA 98368
$708/sq ft0.7 mi awaysmaller lot
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.
RexMont OfferEdge™
How much should you offer?
99 Xx Rainier Street, Port Townsend, WA 98368
List price
$400,000
Down payment
$80,000
Consult a RexMont agent — Contact me now
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
Neighborhood mobility
Walk, bike & transit scores
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.
Mortgage payment forecast
$2,188 per month
Great ratePrincipal and interest
Property taxes
HOA dues
Home insurance
Takes about 5 minutes & won't affect your credit
Get pre-approvedPlan your offer with a RexMont buyer specialistWalk through escalation strategy, contingencies, and competing-offer risk in this neighborhoodCompare loan options30-yr fixed, 15-yr, FHA, VA, jumbo
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of May 22, 2026 at 03:31pm (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.
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