$298,000
Est. $1,532/mo4 bd•2.5 ba•2,323 sq ft
40 Cherry Street S, Soap Lake, WA 98851
• Listed 2026-07-17•4 days on market
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Based on information submitted to the MLS GRID as of July 27, 2026 at 11:28am (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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Unrivaled Investment Opportunity near the legendary Soap Lake! Famous worldwide for its mineral-rich, healing waters and rejuvenating muds, Soap Lake draws visitors seeking wellness and relaxation year-round—making this property to be potential goldmine for short-term rentals, Airbnbs, or multi-family leasing.Zoned R2 for multiple dwellings, this 8,999 sq ft property is ready to maximize your ROI. The main home boasts a spacious living room with a wall of windows & cathedral ceilings, brand-new carpet, alongside a chef’s kitchen with double wall ovens, abundant cabinet space. Retreat to the primary suite, complete with a private balcony, walk-in closet, and a jetted bathtub. The basement adds value with newly installed egress windows for the 2 bedrooms + flexible bonus spaces, larger 2-car garage with built-in workbenches.The Expansion Potential: • An existing 864 sq ft building shell is already plumbed and framed, ready to be converted into an income-generating unit. • Room to build 1 to 2 additional units on the lot. • Peace of mind with a brand-new water line from the street to the house.Located just moments from local schools and the therapeutic beaches of Soap Lake, this property perfectly blends high-yield investment potential with the draw of a historic wellness destination. Schedule your tour today and cash in on the magic of Soap Lake!
Listed by Raymond Gravelle • Keller Williams Columbia Basin
Listing updated: July 27, 2026 at 11:28am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2554379
Open houses
No upcoming open houses scheduled for this property.
$418,000
+$120,000 over list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $210K and $550K.
Rental earnings
$1,250/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$550,000Last sold price
19980 Division.2 Nw, Soap Lake, WA 98851
$519,500Last sold price
314 Lakeshore Drive, Soap Lake, WA 98851
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.
40 Cherry Street S, Soap Lake, WA 98851
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
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
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Soap 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 for about 2% below list price.
Time on market: The average home goes pending in around 33 days.
$44,000 Sold
1 day ago
•Single Family
0 S Aster Street, Soap Lake, WA 98851
12%
Under list
—
Days on market
0.3 mi
Distance
$175,000 Sold
2 weeks ago
•Single Family
318 Lakeshore Drive, Soap Lake, WA 98851
3%
Over list
—
Days on market
0.4 mi
Distance
$290,000 Sold
3 weeks ago
3 bd•2 ba•~1,809 sq ft•Single Family
330 N Juniper St, Soap Lake, WA 98851
0%
Over list
—
Days on market
0.5 mi
Distance
$850,000 Sold
3 weeks ago
•Single Family
68 W State Highway 28, Soap Lake, WA 98851
12%
Under list
—
Days on market
0.9 mi
Distance
$850,000 Sold
3 weeks ago
•Single Family
68 W State Highway 28, Soap Lake, WA 98851
12%
Under list
—
Days on market
0.9 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 Jul 2026
Soap Lake 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.
