$440,000
Listed at $520,0003 bd•2.5 ba•1,910 sq ft
2221 Sw 306th Pl, Federal Way, WA 98023
• Listed Aug 1, 2026
Talk to a local RexMont expert
A local broker replies within minutes
Listing Broker: Orchard Brokerage, LLC; Antonio Calimano Montanez; 206-208-0529; antonio.calimano@orchard.com
Buyer Broker: COMPASS
About this home
Calling all visionaries, contractors, and value-add investors! This split-level home in a quiet, established Federal Way neighborhood is a rare opportunity to build serious equity through sweat and smart renovation. Originally built in 1976, this 3-bedroom home offers a classic split-level layout with distinct living spaces on each level — a floor plan that has stood the test of time and just needs your vision to shine again.Yes, this home needs love — plenty of it — but that's exactly where the opportunity lies. Priced to reflect its condition, this is your chance to secure a home in a desirable pocket of Federal Way at a fraction of market-ready pricing, then customize every finish to your own taste.This location works in your favor: tucked into an established residential street with mature landscaping and long-time neighbors, it's convenient to Highway 99 and I-5 for an easy commute, and just minutes from Dash Point State Park and Beach, French Lake Off-Leash Dog Park, and Alderdale Park. Everyday essentials are close by too, with Safeway, Fred Meyer, and QFC nearby, along with local favorites like Bigfoot Java and JP's Tavern. Federal Way's housing market has shown strong, consistent demand, making this a smart long-term hold or flip.The bones are here — the potential is yours to unlock. Whether you're an investor looking for your next project, a contractor ready to add value, or a buyer with a vision and some DIY grit, this split-level offers the space and structure.
Listed by Antonio Calimano Montanez • Orchard Brokerage, LLC
Listing updated: September 20, 2026 at 04:04am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2561710
Open houses
No upcoming open houses scheduled for this property.
Around this home
Property details
Interior features
- Ceiling Fan(s)
- Dining Room
- Fireplace
- Vaulted Ceiling(s)
- Fireplace (gas)
- Finished basement
Kitchen
- Dishwasher
- Microwave
- Refrigerator
- Stove(s)/Range(s)
Bedrooms
- 3 bedrooms total
Bathrooms
- 2 full bathrooms
- 1 half bathroom
Flooring
- Ceramic Tile
- Engineered Hardwood
- Vinyl
- Carpet
Heating & cooling
- Forced Air heating
- None cooling
Neighborhood mobility
Walk, bike & transit scores
Source: Walk Score®, Bike Score® and Transit Score® are provided by Walk Score (walkscore.com), a third-party service. This is not Northwest MLS listing data.
Schools
Ratings via SchoolDiggerFederal Way School District
- Adelaide Elementary SchoolPublic · Grades PK-5 · State rank 871 of 1,1382/10
- Lakota Middle SchoolPublic · Grades 6-8 · State rank 391 of 5342/10
- Decatur High SchoolPublic · Grades 9-12 · State rank 382 of 4382/10
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.
Market pulse
Federal Way is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 56 days.
Recent sales nearby
Within 1 mile · last 6 months$1,250,000 Sold
5 days ago
4 bd•3 ba•~2,570 sq ft•Single Family
921 Sw 296th Street, Federal Way, WA 98023
0%
Over list
54
Days on market
1.0 mi
Distance
$640,000 Sold
1 week ago
4 bd•2.75 ba•~1,720 sq ft•Single Family
29853 8th Avenue Sw, Federal Way, WA 98023
4%
Under list
55
Days on market
0.9 mi
Distance
$2,300 Sold
2 weeks ago
2 bd•2 ba•Single Family
1800 Sw 318th Pl #31c, Federal Way, WA 98023
0%
Over list
96
Days on market
0.8 mi
Distance
$2,900,000 Sold
2 weeks ago
5 bd•5 ba•~6,820 sq ft•Single Family
29816 23rd Avenue Sw, Federal Way, WA 98023
6%
Under list
109
Days on market
0.5 mi
Distance
$599,000 Sold
5 weeks ago
3 bd•2.5 ba•~1,750 sq ft•Single Family
822 Sw 314th Place, Federal Way, WA 98023
0%
Over list
25
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 Oct 2026
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of September 20, 2026 at 04:04am (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.
HO
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
