$1,199,950
Est. $6,175/mo2 bd•1.75 ba•1,160 sq ft
3118 S 337th Street, Federal Way, WA 98001
• Listed 2026-08-18•New today
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Based on information submitted to the MLS GRID as of August 18, 2026 at 03:18pm (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.
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Exceptional North Lake waterfront opportunity! This unique offering includes three waterfront parcels totaling 31,319 SF, all sold together. The fully remodeled 2-bedroom, 1.75-bath home sits on one parcel with 60 feet of coveted lake frontage, while the two additional parcels provide approximately 45 feet of combined frontage and potential for future development, subject to buyer verification and applicable requirements. Enjoy waterfront living with serene lake views, fishing, boating, spectacular sunsets, and your own private dock. This desirable rambler features vaulted ceilings, a bright sunroom, private jacuzzi, custom-tiled bathrooms, durable laminate flooring, custom cabinetry, and new quartz countertops. The oversized heated two-car garage provides abundant space for vehicles, storage, lake toys, or a workshop. Previously operated as a successful Airbnb, the property offers exceptional flexibility as a primary residence, vacation home, or investment opportunity. Public sewer is located adjacent to all three parcels, offering potential flexibility for future development. Buyer to verify sewer availability, connection requirements, and development feasibility to their satisfaction. The existing home is currently served by septic. A rare opportunity to live, recreate, develop, or invest in a premier waterfront setting.
Listed by Eric Plotnikov • Keller Williams Realty PS
Listing updated: August 18, 2026 at 03:18pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2569988
Open houses
$1,176,000
-$23,950 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $600K and $720K.
Rental earnings
$3,525/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$625,000Last sold price
32412 44th Avenue S, Federal Way, WA 98001
$600,000Last sold price
35414 34th Avenue S, Auburn, WA 98001
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.
3118 S 337th Street, Federal Way, WA 98001
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.
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$6,968 per month
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Federal Way is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
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 12 days.
$795,000 Sold
2 months ago
5 bd•3.5 ba•~3,340 sq ft•Single Family
3921 S 344th Street, Auburn, WA 98001
6%
Over list
—
Days on market
0.6 mi
Distance
$700,000 Sold
3 months ago
4 bd•2.5 ba•~2,230 sq ft•Single Family
33253 43rd Place S, Federal Way, WA 98001
0%
Over list
—
Days on market
0.6 mi
Distance
$800,000 Sold
3 months ago
4 bd•3.5 ba•~3,340 sq ft•Single Family
3929 S 344th Street, Auburn, WA 98001
3%
Under list
—
Days on market
0.6 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 Aug 2026
Federal Way 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.
