$392,000
Est. $2,124/mo3 bd•1.25 ba•1,150 sq ft
704 S 314th Street, Federal Way, WA 98003
• Listed Nov 8, 2026•New today
Listing Broker: Windermere RE South Sound, Inc; Petru Mihaluta; 425-505-0595; petru@windermere.com
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Listing Broker: Windermere RE South Sound, Inc; Petru Mihaluta; 425-505-0595; petru@windermere.com
About this home
BIG CORNER LOT, NO HOA, AND INCREDIBLE POTENTIAL AT $392,000! Bring your vision to this 3-bedroom Federal Way rambler offering approximately 1,150 sq ft of single-level living on a generous 8,337 sq ft corner lot in the established Mirror Lake neighborhood. The functional floor plan includes a comfortable living room with attractive wood-look flooring, a kitchen with adjoining dining space, and a versatile bonus room perfect for a home office, hobbies, or additional living space. The home features a refreshed ¾ bath with a tiled walk-in shower, plus a convenient second half bath. Outside, enjoy an expansive yard with plenty of room for gardening, landscaping, outdoor activities, and future improvements, subject to applicable approvals. A covered carport, driveway parking, and additional storage add everyday convenience. Located directly across from Mirror Lake Elementary School, with convenient access to shopping, dining, and major commuter routes. This property offers a fantastic opportunity for a handy buyer ready to make improvements, personalize the home, and build value over time. The generous lot, flexible layout, and freedom of NO HOA offer exciting possibilities. Bring your ideas, imagine what this property could become, and schedule your private showing today!
Listed by Petru Mihaluta • Windermere RE South Sound, Inc
Listing updated: November 8, 2026 at 07:42pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2602192
Open houses
No upcoming open houses scheduled for this property.
Around this home
How much should you offer?
704 S 314th Street, 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
Kitchen
- Dryer
- Microwave
- Refrigerator
- Stove(s)/Range(s)
- Washer
Bedrooms
- 3 bedrooms total
- 3 on the main level
Bathrooms
- 1 three-quarter bathroom (shower, no tub)
- 1 half bathroom
- 1.25 bathrooms total (NWMLS count)
- 2 on the main level
Layout
- 1 Story
- 1,150 sq ft finished
Flooring
- Vinyl
- Vinyl Plank
- Carpet
Heating & cooling
- Forced Air heating
- None cooling
Schools
Ratings via SchoolDiggerFederal Way School District
- Mirror Lake Elementary SchoolPublic · Grades PK-5 · State rank 973 of 1,1382/10
- Sacajawea Jnr HighPublic · Grades Middle—
- Federal Way 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.
Single-family home facts
As entered by the listing broker on Northwest MLS
Lot & site
- Topography
- Level
- Lot number
- 16
- Zoning jurisdiction
- City
- Faces
- South
Systems
- Energy source
- Electric,Natural Gas
- Power production
- Electric, Natural Gas
- Power company
- Puget Sound Energy (PSE)
- Water company
- Lakehaven Water and Sewer District
- Sewer company
- Lakehaven Water and Sewer District
- Gas company
- Puget Sound Energy (PSE)
- Garbage service
- Waste Management
- Irrigation water rights
- No
Rooms & extras
- Showers
- 1
New construction
- Square footage source
- King County Assessor
- Lot size source
- King County Assessor
Manufactured home
- Land lease
- No
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 704 S 314th Street
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.
- Nov 8, 2026ListedNWMLS via MLS Grid · #2602192$392,000$341/sq ft
Down payment assistance
6 programs may be available to provide you with up to $19,600 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
$2,562 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: Windermere RE South Sound, Inc; Petru Mihaluta; 425-505-0595; petru@windermere.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 81 days.
Recent sales nearby
Within 1 mile · last 6 months$980,000 Sold
3 days ago
4 bd•2.5 ba•~3,760 sq ft•Single Family
29917 1st Place S, Federal Way, WA 98003
2%
Under list
51
Days on market
1.0 mi
Distance
$500,000 Sold
4 days ago
3 bd•2 ba•~1,500 sq ft•Single Family
29751 3rd Avenue S, Federal Way, WA 98003
0%
Over list
83
Days on market
1.0 mi
Distance
$600,000 Sold
4 days ago
4 bd•2.25 ba•~1,950 sq ft•Single Family
218 S 317th Place, Federal Way, WA 98003
0%
Over list
30
Days on market
0.4 mi
Distance
$600,000 Sold
1 week ago
4 bd•2 ba•~2,500 sq ft•Single Family
30225 5th Avenue S, Federal Way, WA 98003
0%
Over list
114
Days on market
0.7 mi
Distance
$1,019,622 Sold
2 weeks ago
5 bd•2.75 ba•~3,019 sq ft•Single Family
30326 11th Place S, Federal Way, WA 98003
0%
Over list
—
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 8, 2026 at 7:59 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.
Some IDX listings have been excluded from this website.
© 2026 Northwest Multiple Listing Service. All rights reserved.
HO
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