$515,000
Est. $2,791/moPrice reduced $35,000 from the original $550,000 asking price
2,672 sq ft
198 Cherry Lane, Morton, WA 98356
• Listed Aug 23, 2026•54 days active · 54 cumulative
Listing Broker: The Real Estate Firm; Jenn Rees; 509-201-0005; jennlrees@yahoo.com
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Listing Broker: The Real Estate Firm; Jenn Rees; 509-201-0005; jennlrees@yahoo.com
About this home
This 4 unit apartment building in Morton is at the end of a dead end street. It is connected to city water and sewer. Recent updates include new windows, siding, and exterior paint. Most of the interiors have been updated in the last 4 years with new flooring and fresh paint. This building is fully occupied. There is laundry on site shared by all 4 units, currently free...potential upside by putting in coin op.
Listed by Jenn Rees • The Real Estate Firm
Listing updated: October 27, 2026 at 09:58am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2554943
Open houses
No upcoming open houses scheduled for this property.
Around this home
How much should you offer?
198 Cherry Lane, Morton, WA 98356
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
- 4-Plex
Flooring
- Carpet
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDiggerMorton School District
- Morton Elementary SchoolPublic · Grades PK-4 · State rank 420 of 1,1386/10
- Morton Jnr-Snr HighPublic · Grades Middle—
- Morton Jnr-Snr HighPublic · Grades High—
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
- 4
- Units in building
- 4
- Units below grade
- false
- Building square feet
- 2,672 sq ft
Income & expenses
- Gross scheduled income
- $57,600
- Total monthly income
- $4,800
- Gross adjusted income
- $57,600
- Net operating income
- $47,443
- Cap rate
- 9.4%
- Gross rent multiplier
- 8.68
- Total expenses
- $10,157
- Insurance
- $1,553
- Electric
- $735
- Other expenses
- $1,200
- Water / sewer / garbage paid by
- 3708
Parking & storage
- Parking spaces
- 5
- Uncovered parking
- 5
Taxes & assessment
- Annual taxes
- $2,961
- Tax year
- 2026
- Financing
- Cash, Conventional, Owner Will Carry
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.
Opens with the report above.
Down payment assistance
6 programs may be available to provide you with up to $25,750 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
$3,167 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%.
Ask about this home
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Listing Broker: The Real Estate Firm; Jenn Rees; 509-201-0005; jennlrees@yahoo.com
Market pulse
Morton is a buyer's market.
Inventory is rising and homes are sitting longer. Buyers have room to negotiate.
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 115 days.
Recent sales nearby
Within 1 mile · last 6 months$299,900 Sold
1 week ago
3 bd•1.75 ba•~1,404 sq ft•Single Family
762 Division Avenue, Morton, WA 98356
0%
Over list
84
Days on market
0.3 mi
Distance
$251,250 Sold
2 weeks ago
4 bd•1.75 ba•~1,500 sq ft•Single Family
168 E Wood Avenue, Morton, WA 98356
0%
Over list
78
Days on market
0.9 mi
Distance
$309,000 Sold
3 weeks ago
4 bd•1 ba•~1,560 sq ft•Single Family
725 W Main Avenue, Morton, WA 98356
3%
Over list
90
Days on market
0.3 mi
Distance
$415,000 Sold
3 weeks ago
3 bd•1.75 ba•~1,728 sq ft•Single Family
102 40 Crumb Road, Morton, WA 98356
0%
Over list
201
Days on market
0.7 mi
Distance
$353,000 Sold
5 weeks ago
3 bd•1.5 ba•~1,357 sq ft•Single Family
301 Temple Avenue, Morton, WA 98356
5%
Under list
101
Days on market
0.7 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 Nov 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 November 9, 2026 at 11:29 AM 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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