Twin Lakes Homes under $500,000

Twin Lakes Homes under $500,000

Welcome to Twin Lakes, a hidden gem nestled in the heart of Federal Way, Washington! This picturesque neighborhood is known for its serene ambiance, lush greenery, and vibrant community spirit. With its charming tree-lined streets and beautiful parks, Twin Lakes offers a perfect blend of suburban tranquility and modern convenience, making it an ideal place for families, retirees, and young professionals alike.

One of the standout features of Twin Lakes is its accessibility to a variety of recreational opportunities. Residents can enjoy the stunning Twin Lakes Golf & Country Club, where golf enthusiasts can perfect their swing while soaking in breathtaking views. The nearby Dash Point State Park offers miles of trails for hiking and biking, as well as a stunning waterfront for beachcombing and picnicking. For those who crave a bit of urban excitement, the bustling city of Federal Way is just a short drive away, offering shopping, dining, and entertainment options galore.

When it comes to housing, Twin Lakes is particularly appealing for those seeking affordability without compromising on quality. With homes priced under $500,000, this neighborhood presents a fantastic opportunity for first-time homebuyers and families looking to settle down. Here, you’ll find a diverse array of charming single-family homes, cozy townhouses, and well-maintained properties that are perfect for any lifestyle.

In Twin Lakes, you’ll not only find a house to call home but a welcoming community that fosters lasting friendships and cherished memories. Come explore the beauty and warmth of Twin Lakes—your dream home awaits!

Newest Twin Lakes Homes under $500,000

32110 SW 45th Place Unit ##B-4, Federal Way
$225,000
3 Beds ⋅ 2 Baths ⋅ 2590065 MLS ⋅ ACTIVE Status
Opportunity in Maplewood! This 3-bedroom, 1 1/2-bath ground-floor condo is more than livable and ready for a buyer who is willing to put in some TLC. The home primarily needs cleaning, freshening up and cosmetic updates to make it shine. No major renovation is required to enjoy the home while making improvements over time. The 993 sq ft floor plan includes 3 bedrooms, 1 full bath and 1/2 bath, plus washer/dryer hookups. Maplewood offers desirable community amenities including a seasonal swimming pool and sport court. This is a great opportunity for a buyer who wants to build some sweat equity, an investor, or someone looking for an affordable home they can personalize. Seller is highly motivated and selling strictly as-is. Bring your ideas, bring your offer, and make this Maplewood condo your own!

32110 SW 45th Place Unit ##B-4, Federal Way

Listing Broker: Better Properties Kitsap; Stanley Yeadon; 360-710-8815; justcallmestan@msn.com

4601 SW 320th Street Unit #N-1, Federal Way
$249,000
3 Beds ⋅ 2 Baths ⋅ 2587627 MLS ⋅ ACTIVE Status
Excellent value with NO rental cap, FHA and VA approval, making this a rare opportunity for both homeowners and investors alike. This well-maintained 3-bedroom, 1.5-bath condo features a spacious primary bedroom with an ensuite half bath, and a private patio backing to green space with no neighbors behind. One of the rare 3 bedroom units with an in-unit stackable laundry. Enjoy access to outstanding community amenities including a pool, sport court, walking trails, picnic areas, and playgrounds. Pet-friendly community welcomes cats and dogs under 35 lbs. On-site management, a friendly neighborhood atmosphere, and located across from the Dash Point State Park trailhead and just minutes from Redondo Beach, shopping, dining, schools, and easy I-5 access, this home offers an exceptional blend of comfort, convenience, and lifestyle.

4601 SW 320th Street Unit #N-1, Federal Way

Listing Broker: RE/MAX Integrity; Carol Fisher; 206-931-2911; carolfisher@remax.net

4601 SW 320th Street Unit #Q5, Federal Way
$125,000
2 Beds ⋅ 1 Baths ⋅ 2586989 MLS ⋅ PENDING - BACKUP OFFER REQUESTED Status
Beautiful condominium complex in the Twin Lakes Golf Course and Dash Point Park. Move-in ready top floor 2 bedroom, 1 bathroom home with generous living space, oversized primary bedroom with walk-in closet, and kitchen with eating space. Newer carpet, stove, and refrigerator. Extra storage available off private deck. Exterior recently painted. Community amenities include pool, athletic court and plenty of open parking. Great location close to shopping, dining, school and near major transit including the light rail and I-5.

4601 SW 320th Street Unit #Q5, Federal Way

Listing Broker: Renton Realty; Stacey Gregersen; ; stacey@rentonrealty.net

31500 33rd Place SW Unit #Q203, Federal Way
$339,500
2 Beds ⋅ 1 Baths ⋅ 2585452 MLS ⋅ ACTIVE Status
Light, bright and wonderfully maintained turnkey condo in the highly desirable Madera West gated community! Rare combination of FHA & VA eligibility, NO RENTAL CAP, and strong reserves! Step inside this private top floor unit and you’ll immediately notice the abundance of natural light, beautiful LVP flooring, and picturesque territorial views off the deck…with no neighboring windows in sight! Functional and spacious, this 2 bedroom layout comes with an oversized bathroom, walk in closets, crown molding, recent interior paint and new full size W/D that stay! No shortage of parking with an included single car garage, additional reserved parking space and several visitor spaces just outside the unit. Renowned for its impressive array of resident ammenities… Madera West offers a luxurious clubhouse with party and game rooms, heated pool, hot tub and fitness center… plus RV parking, sports courts, playground, gardening space, dog run and so much more! Water/Sewer/Garbage included in HOA dues, along with grounds and exterior maintenance, providing exceptional value and cost savings. Recently updated roof, siding and windows for added peace of mind! Unit is positioned near the clubhouse, mailboxes and receptacles for your convenience. So tucked in, yet so close to freeways, Dash Point, the new link light rail and all that Federal Way has to offer! With so many condos having drawbacks, this really is the total package and just the gem you’ve been searching for!

31500 33rd Place SW Unit #Q203, Federal Way

Listing Broker: Better Properties Summit; Daniel Speltz; 253-229-6068; danieljspeltz@gmail.com

4601 SW 320th St Unit #E4, Federal Way
$219,000
2 Beds ⋅ 1 Baths ⋅ 2560594 MLS ⋅ ACTIVE Status
Seller offering up to $2,500 toward buyer’s allowable closing costs, prepaid expenses, and/or interest-rate buydown, subject to lender approval. Enjoy the benefits of a desirable first floor corner unit, ideally positioned just steps from the community laundry room. Inside, you'll find thoughtful updates throughout, including fresh paint, new flooring, brand new kitchen appliances, new baseboard heater and thermostat (2026), a newer water heater (2023), an upgraded electrical panel (2022), and energy efficient insulated windows - creating a move in ready home that's as comfortable as it is functional. The corner location fills the living space with natural light, while the spacious primary bedroom features a walk-in closet. Maplewood Condominiums offers beautifully maintained grounds and community amenities, including a seasonal outdoor swimming pool, athletic court, and abundant open parking. HOA dues include water, sewer, garbage, common area and road maintenance, making homeownership simple and low maintenance. Conveniently located near Dash Point State Park, Twin Lakes Golf & Country Club, shopping, dining, and major commuter routes including I-5 and Highway 18, this home offers easy access to everything Federal Way has to offer. Whether you're purchasing your first home, downsizing, or considering a long-term investment, this well-maintained and updated condo is ready to welcome you home. VA approved.

4601 SW 320th St Unit #E4, Federal Way

Listing Broker: Berkshire Hathaway HS NW; Terena Belitz; 425-453-9100; tbelitz@bhhsnw.com

33554 36th Avenue SW, Federal Way
$499,000
3 Beds ⋅ 2 Baths ⋅ 2560993 MLS ⋅ ACTIVE Status
Tucked away at the end of a quiet cul-de-sac, this rambler is one of those homes that simply feels good the moment you arrive. A stone's throw from the elementary school, it's perfectly positioned for everyday convenience. Set on a lot with a private backyard, you'll find room to relax, entertain, garden, or dream a little bigger. Inside, natural light fills the home, where the thoughtful one-level layout offers two separate living spaces, giving everyone room to gather or unwind. Cozy up by the gas fireplace, host friends in the designated dining area, then open the French doors to discover a generous backyard with endless possibilities. The primary suite features its own ¾ bath, while two additional bedrooms and a full bath provide comfortable space for all. With an easy-flowing floor plan and timeless layout, this home is ready for your personal vision. A new roof provides added peace of mind, along with a new furnace in 2022, allowing you to focus on making the home your own instead of tackling major expenses. Whether you're buying your first home, looking to downsize, or searching for your next investment, this home offers an incredible opportunity to build equity in an established neighborhood. Conveniently located near Twin Lakes Golf Course, shopping, dining, parks and everyday conveniences, you'll enjoy the perfect balance of peaceful living and daily convenience. This is the kind of home where memories are made, come picture your future here!

33554 36th Avenue SW, Federal Way

Listing Broker: Windermere Abode; Kylee Hill; 253-653-7692; kyleehill@windermere.com

2346 SW 339th Street, Federal Way
$495,900
3 Beds ⋅ 1 Baths ⋅ 2552703 MLS ⋅ ACTIVE Status
The Seller's preferred lender is offering a $5,000 credit for buyers to use towards their closing costs or an interest rate buydown! This Updated 3 bedroom rambler for sale in Federal Way, WA 98023 with a BRAND NEW ROOF (2026). This single-level ranch style home offers 1,150 sqft of easy one-story living on a large 9,619 sqft lot — no stairs, no major projects. The updated kitchen features quartz countertops (2024) and updated bathtub (2022), and with beautiful UV protective storm windows installed, all the big-ticket items are already done. Outside, the fully fenced in backyard includes a 50-foot garden, an established blueberry patch, three storage sheds (one with electricity — ideal workshop or hobby space), a Luxury hot tub, and front parking for up to six vehicles or enough space for RV or boat. Located in the desirable 98023 area of Federal Way near shopping, schools, and I-5 commuter access to Tacoma and Seattle. Many amenities and neccesities are within walking distance. Move-in ready single family homes under $500,000 in Federal Way are increasingly rare. Schedule your private showing today.

2346 SW 339th Street, Federal Way

Listing Broker: eXp Realty; Daisy Quinonez; 206-773-7329; Daisymarie2011@gmail.com

4601 SW 320th Street Unit #R2, Federal Way
$165,000
1 Beds ⋅ 1 Baths ⋅ 2552450 MLS ⋅ ACTIVE Status
Charming first-floor 1 bed / 1 bath condo — warm, move-in ready and full of welcome. The sunny living room opens to a cozy dining area and an updated kitchen (all appliances stay). A roomy, peaceful bedroom and an updated full bath make this a lovely retreat. Step out to your private back patio overlooking a greenbelt — perfect for morning coffee — with extra storage right there. Laundry is just a few steps from your door. Enjoy summer afternoons by the pool or relaxing in the clubhouse. Super walkable and wonderfully convenient — minutes to the airport, on the bus line, close to freeways, shops, restaurants, trails, Puget Sound, golf, parks and schools. No rental cap.

4601 SW 320th Street Unit #R2, Federal Way

Listing Broker: eXp Realty; Jackie E Davis; 206-713-9147; jackie@theavehomegroup.com

31500 33rd Place SW Unit #C204, Federal Way
$299,999
2 Beds ⋅ 1 Baths ⋅ 2529641 MLS ⋅ ACTIVE Status
Low Homeowner's Dues! Premier condo community of "Madera West." Nestled in an established neighborhood, Gated & situated next to a lush greenbelt. This top-floor gem features bright, open-concept living spaces & modern kitchen with eat-in bar. Enjoy a cozy wood burning fireplace & serene nature views from your kitchen, living & dining areas. An updated bathroom provides double sinks, full shower/tub combo, built-in shelving and full sized washer & dryer in closet. Both spacious bedrooms offer large walk-in closets. From covered deck, the backyard setting displays a private & peaceful vibe. Also included is one covered parking, storage on balcony & optional RV/Boat parking. The development boasts incredible amenities including a clubhouse with fitness center, hot tub, outdoor pool, sports court, playgrounds, garden in full bloom & dog park. Investors welcome- No Rental Cap, VA & FHA approved. This well kept complex offers new roofs, siding, windows, decks, railings & more- all while the HOA dues remain low! Lovely pathways with a truly inspiring plethora of seasonal flowers, trees and shrubs throughout the neighborhood. Prime location with easy access to all conveniences.

31500 33rd Place SW Unit #C204, Federal Way

Listing Broker: CENTURY 21 North Homes Realty; Kyle A Steppe; 253-332-7900; kylesteppe@comcast.net

31500 33rd Place SW Unit #G202, Federal Way
$294,950
1 Beds ⋅ 1 Baths ⋅ 2498857 MLS ⋅ ACTIVE Status
Move-in ready, no-stairs condo that offers easy-access living in the gated Madera West community. This bright and welcoming home features an open layout, brand-new carpet, and wide hallways throughout. The spacious living room flows seamlessly into the dining area, while the private balcony overlooks a peaceful greenbelt, creating a quiet retreat to relax and unwind. The well-equipped kitchen includes a newer appliances. A cozy fireplace, white millwork, and crown molding add warmth and character to the living space. The oversized bedroom offers exceptional flexibility with a walk-in closet and room for a home office, reading nook, exercise area, or additional sleeping space. Enjoy the convenience of a covered entry and assigned covered parking located directly in front of the unit, with additional room for easy loading and unloading. Long-term rentals are allowed, and up to two pets are welcome. HOA dues include water, sewer, and garbage, along with access to outstanding community amenities including a clubhouse, pool, hot tub, fitness center, sports court, playground, dog park, community garden, RV/boat parking, and guest parking. Conveniently located near parks, shopping, dining, I-5, and light rail access.

31500 33rd Place SW Unit #G202, Federal Way

Listing Broker: John L. Scott, Inc.; Lillian Morrow; 253-219-1161; LillianMorrow@johnlscott.com

31500 33rd Place SW Unit #U101, Federal Way
$302,000
2 Beds ⋅ 2 Baths ⋅ 2414151 MLS ⋅ ACTIVE Status
Approved Short Sale price! Ground floor end unit backing to greenbelt. LVP flooring, walk in closets, fireplace and breakfast bar. No special assessment or rental cap. Walk to schools and so much more. You will love the community club house, exercise room and pool, hot tub, plus community garden and RV parking!

31500 33rd Place SW Unit #U101, Federal Way

Listing Broker: Keller Williams Rlty Bellevue; Ara Hakobyan; 425-241-5753; arah@kw.com

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