$959,500
Est. $5,315/mo4,036 sq ft
34005 1st Circle S, Federal Way, WA 98003
• Listed Oct 13, 2026•230 days active · 230 cumulative
Listing Broker: Better Properties N. Proctor; Leo Zhuk; 253-906-8970; LeoZhuk@gmail.com
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Listing Broker: Better Properties N. Proctor; Leo Zhuk; 253-906-8970; LeoZhuk@gmail.com
About this home
Rarely available townhome-style 4-plex in the professionally managed Panther Lake community, offering some of the largest floor plans in the complex. Each two-level unit features 2 bedrooms, 1.5 baths, and approx 1,009 SF per builder/management. The main floor offers a living room with wood-burning fireplace, separate dining room, kitchen, half bath, and in-unit washer/dryer; upstairs are two bedrooms with double closets and a full bath. Two private decks per unit. Current rents $1,600-$1,850 with upside toward the $1,895 market rate for this plan. Four carport spaces plus additional parking. HOA dues cover water, sewer, garbage, exterior maintenance, and grounds, and tenants reimburse $158/month per unit for water/sewer/garbage plus pay their own electric. Required on-site management (5%) makes ownership hands-off for local or out-of-area investors. Owner-occupants may qualify for FHA/VA financing. Community playground and sport court. Minutes to I-5, Hwy 18, shopping, and the Federal Way light rail station. Priced below the most recent sale of an identical floor plan in the community. Seller intends to complete a 1031 exchange; buyer to cooperate at no cost or liability to buyer.
Listed by Leo Zhuk • Better Properties N. Proctor
Listing updated: October 14, 2026 at 08:26am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2593882
Around this home
How much should you offer?
34005 1st Circle S, 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
Flooring
- Vinyl
- Carpet
Heating & cooling
- Baseboard 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
- 4
- Units in building
- 4
- Units below grade
- false
- Building square feet
- 4,036 sq ft
Income & expenses
- Gross scheduled income
- $82,200
- Total monthly income
- $7,482
- Additional monthly income
- $632
- Gross adjusted income
- $85,295
- Net operating income
- $58,711
- Cap rate
- 6.12%
- Gross rent multiplier
- 11.68
- Vacancy rate
- 5%
- Total expenses
- $26,584
- Insurance
- $4,200
- Other expenses
- $12,038
- Water / sewer / garbage paid by
- 0
Parking & storage
- Parking spaces
- 7
- Uncovered parking
- 3
- Covered spaces
- 4
Taxes & assessment
- Annual taxes
- $10,346
- Tax year
- 2026
- Financing
- Cash, Conventional, FHA, VA Loan
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 34005 1st Circle S
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.
- Oct 13, 2026ListedNWMLS via MLS Grid · #2593882$959,500$238/sq ft
- Sep 29, 2017SoldNWMLS via MLS Grid · #1150676$535,000$133/sq ft
- Aug 1, 2017PendingNWMLS via MLS Grid · #1150676$550,000$136/sq ft
- Jun 26, 2017ListedNWMLS via MLS Grid · #1150676$550,000$136/sq ft
- Jun 28, 2006SoldNWMLS via MLS Grid · #26068969$435,000$108/sq ft
- May 17, 2006PendingNWMLS via MLS Grid · #26068969$425,000$105/sq ft
Down payment assistance
6 programs may be available to provide you with up to $55,000 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
$7,095 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
A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.
Listing Broker: Better Properties N. Proctor; Leo Zhuk; 253-906-8970; LeoZhuk@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.
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 2:11 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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