7418 207th Avenue E, Bonney Lake, WA 98391
- $820,000
- 2,788
- SqFt
Listing courtesy of Rethinking Real Estate LLC.
- List Price
- $820,000
- Status
- ACTIVE
- MLS#
- 2527663
- Price Change
- ▼ $25,000 1789249717
- Days on Market
- 79
- Style
- 52 - Duplex
- Building Condition
- Good
- Finished SqFt
- 2,788
- Area Total SqFt
- 2788
- Annual Tax Ammount
- 7797
- Lot Size (sq ft)
- 15,246
- Sewer
- Sewer Connected
Property Description
Live at Lake Tapps while rental income from next door helps offset housing costs. Rare owner-occupant or investment opportunity on a quiet dead-end street surrounded by mature trees. Each spacious unit offers nearly 1,400 sq ft with 3 bedrooms, 2.5 baths, full-size laundry, large primary suite with walk-in closet, private deck and backyard, plus an oversized 2-car garage. Vacant Unit 2 is move-in ready and recently refreshed with new interior paint, new laminate flooring throughout the main level, new front-load washer and dryer, new water heater, new range and granite countertops. Unit 1 has a reliable month-to-month tenant who would like to stay, providing immediate rental income. Unit 1 also had a furnace replacement and laminate kitchen/dining flooring in 2022. The entire building received a new roof and gutters in 2026. The previous Unit 2 tenant remained for 9 years, reflecting the property's strong tenant appeal. A standout feature is neighborhood membership with private access to Church Lake Park on Lake Tapps, including picnic areas, playground and boat launch access, a rare benefit in an area with limited public lake access. Owned by the sellers since new in 2003, this duplex combines long-term rental appeal, attractive pro forma income potential and the flexibility to live in one side while income from the other helps reduce monthly housing expense. Enjoy Lake Tapps access and a residential setting while building equity with income-producing real estate.
Additional Information
- List Date
- 2026-06-25 16:58:11
- Community
- Church Lake
- Net Operating Income
- $45,543
- Gross Adjusted Income
- $63,600
- Gross Scheduled Income
- $63,600
- Total Monthly Income
- $2,310
- Insurance Expenses
- $1,416
- Water/Sewer/Garbage Expenses
- $4,126
- Gross Rent Multiplier
- 12.89
- Total Expenses
- $18,057
- Cap Rate
- 5.55
- Total Number of Units
- 2
- Unit Name
- 7418
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 2003
- Roof
- Composition
- Site Features
- Deck
- Other Expenses
- 4718
- Energy Source
- Natural Gas
- School District
- Sumner-Bonney Lake
- Elementary School
- Emerald Hills Elem
- Middle School
- Lakeridge Middle
- High School
- Bonney Lake High
- Total Monthly Income
- $2,310
- Gross Scheduled Income
- $63,600
- Gross Adjusted Income
- $63,600
- Tax Year
- 2025
- Insurance Expense
- $1,416
- W/S/G Expenses
- $4,126
- Total Expenses
- $18,057
- Net Operating Income
- $45,543
- Gross Rent Multiplier
- 12.89
- Cap Rate
- 5.55
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.