$1,200,000
Est. $6,647/mo3,600 sq ft
27 S 342nd Place, Federal Way, WA 98003
• Listed Aug 20, 2026•52 days active · 52 cumulative
Listing Broker: Q Star Seattle Corporation; Pearl Lee; 206-664-1697; pearlleerealtor@gmail.com
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Listing Broker: Q Star Seattle Corporation; Pearl Lee; 206-664-1697; pearlleerealtor@gmail.com
About this home
A quiet and serene 4-plex multi-family home centrally located in Federal Way with convenient transportation. Extremely accessible to bus, light rail, shopping center, and dining, with easy access to I-5, Hwy 99 and the King County library located right across the street. Great opportunity to own an income-generating 4-plex featuring an estimate Cap rate around 5%. All units are managed by on-site property management so it's easy and low maintenance to manage.
Listed by Pearl Lee • Q Star Seattle Corporation
Listing updated: September 22, 2026 at 06:49pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2571153
Around this home
How much should you offer?
27 S 342nd Place, Federal Way, WA 98003
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
Heating & cooling
- Baseboard heating
- Radiant heating
- None cooling
Schools
Ratings via SchoolDiggerFederal Way School District
- Panther Lake Elementary SchoolPublic · Grades PK-5 · State rank 990 of 1,1382/10
- Illahee Jnr HighPublic · Grades Middle—
- Todd Beamer High SchoolPublic · Grades 9-12 · State rank 324 of 3962/10
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.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 1
- Units in building
- 4
- Units below grade
- false
- Building square feet
- 3,600 sq ft
Income & expenses
- Gross scheduled income
- $91,200
- Total monthly income
- $7,600
- Net operating income
- $55,000
- Cap rate
- 5%
- Total expenses
- $18,604
- Insurance
- $3,000
- Other expenses
- $7,000
- Water / sewer / garbage paid by
- 0
Parking & storage
- Parking spaces
- 2
- Uncovered parking
- 2
Taxes & assessment
- Annual taxes
- $8,604
- Tax year
- 2025
- Financing
- Cash, Conventional
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.
Sales & Tax Records for 27 S 342nd Place
NWMLS via MLS Grid · King County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Aug 20, 2026ListedNWMLS via MLS Grid · #2571153$1,200,000$333/sq ft
- Jan 19, 2021Recorded saleKing County recorder · Statutory warranty deed$655,000$182/sq ft
- Apr 30, 2004SoldNWMLS via MLS Grid · #24033147$322,500$90/sq ft
- Apr 18, 2004PendingNWMLS via MLS Grid · #24033147$319,950$89/sq ft
- Mar 15, 2004ListedNWMLS via MLS Grid · #24033147$319,950$89/sq ft
Mortgage payment forecast
$8,342 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: Q Star Seattle Corporation; Pearl Lee; 206-664-1697; pearlleerealtor@gmail.com
Market pulse
Federal Way 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 very close to list price.
Time on market: The average home goes pending in around 69 days.
Recent sales nearby
Within 1 mile · last 6 months$459,995 Sold
7 weeks ago
2 bd•1.75 ba•~1,470 sq ft•Single Family
235 S 329th Lane, Federal Way, WA 98003
0%
Over list
138
Days on market
0.9 mi
Distance
$825,000 Sold
3 months ago
•Single Family
34027 1st Place S, Federal Way, WA 98003
2%
Under list
133
Days on market
0.1 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
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 October 18, 2026 at 2:16 PM 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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© 2026 Northwest Multiple Listing Service. All rights reserved.
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