98118 Homes under $500,000

98118 Homes under $500,000

Welcome to the vibrant and diverse neighborhood of Seattle, Washington, nestled within the 98118 zip code! Known for its rich cultural tapestry and stunning natural beauty, this area is a hidden gem for homebuyers seeking an affordable slice of the Pacific Northwest.

The 98118 zip code, located in the heart of King County, offers a unique blend of urban conveniences and suburban charm. Here, you’ll find a variety of parks, local markets, and community events that foster a strong sense of belonging. The neighborhood is renowned for its accessibility, with excellent public transportation options that connect residents to downtown Seattle and beyond.

For those looking to invest in their first home or downsize without breaking the bank, the 98118 area features a selection of homes priced under $500,000. From cozy bungalows to modern townhomes, there’s something for everyone in this price range. Imagine sipping your morning coffee on a sun-drenched porch or hosting friends in a spacious backyard—affordable living doesn’t mean sacrificing comfort or style.

Beyond housing, the 98118 community is rich with amenities. Enjoy the local eateries that celebrate Seattle’s culinary scene, or take a leisurely stroll through the nearby parks and waterfronts. Whether you’re an outdoor enthusiast or a culture lover, there’s always something to discover.

Don’t miss out on the opportunity to call 98118 home. With its affordable housing options and welcoming atmosphere, it’s the perfect place to start your next chapter!

Newest 98118 Homes under $500,000

3857 Rainier Avenue S, Seattle
$379,000
1 Beds ⋅ 1 Baths ⋅ 2589602 MLS ⋅ ACTIVE Status
Exceptional opportunity to acquire two side-by-side properties at 3857 and 3859 Rainier Avenue S, situated along Seattle's highly traveled Rainier Avenue corridor. Zoned NC2-55 (Neighborhood Commercial 2) with a 55-foot height limit, these properties offer outstanding potential for mixed-use commercial and residential development. No plans or survey available VALUE IS IN THE LAND! High traffic volume, excellent street visibility, and a major shopping center directly across the street provide an attractive setting for investors, builders, and developers. The established retail presence, surrounding businesses, and convenient access to public transportation Mixed-Use Flexibility: Potential uses include multifamily residential apartments, live-work units, retail spaces, offices, restaurants, subject to City of Seattle zoning regulations and approvals Strategically located with convenient access to downtown Seattle, Renton, and Tukwila, this established urban corridor offers excellent connectivity to surrounding residential neighborhoods, shopping, dining, and business districts PROPERTY ACCESS: Access to the property grounds is available by appointment. No interior access to existing buildings until after mutual acceptance Buyer to verify zoning, permitted uses, height restrictions, density, property conditions, and development feasibility with the City of Seattle Also listed as Vacant Land. See adjacent property at 3857 Rainier Avenue S, MLS#2589591

3857 Rainier Avenue S, Seattle

Listing Broker: Windermere Mercer Island; Thomas Fine; 206-434-6561; tomfine@finehomesnw.com

3859 Rainier Avenue S, Seattle
$319,000
1 Beds ⋅ 1 Baths ⋅ 2589591 MLS ⋅ ACTIVE Status
Exceptional opportunity to acquire two side-by-side properties at 3857 and 3859 Rainier Avenue S, situated along Seattle's highly traveled Rainier Avenue corridor. Zoned NC2-55 (Neighborhood Commercial 2) with a 55-foot height limit, these properties offer outstanding potential for mixed-use commercial and residential development, No plans or survey available VALUE IS IN THE LAND! High traffic volume, excellent street visibility, a major shopping center directly across the street provide an attractive setting for investors, builders, and developers. The established retail presence, surrounding businesses, and convenient access to public transportation Mixed-Use Flexibility: Potential uses include multifamily residential apartments, live-work units, retail spaces, offices, and restaurants, subject to City of Seattle zoning regulations and approvals Strategically located with convenient access to downtown Seattle, Renton, and Tukwila, this established urban corridor offers excellent connectivity to surrounding residential neighborhoods, shopping, dining, and business districts PROPERTY ACCESS: Access to the property grounds is available by appointment. No interior access to existing buildings until after mutual acceptance Buyer to verify zoning, permitted uses, height restrictions, density, property conditions, and development feasibility with the City of Seattle Also listed as Vacant Land. Adjacent property at 3857 Rainier Avenue S, MLS #2589602

3859 Rainier Avenue S, Seattle

Listing Broker: Windermere Mercer Island; Thomas Fine; 206-434-6561; tomfine@finehomesnw.com

9520 Rainier Avenue S Unit #204, Seattle
$389,000
1 Beds ⋅ 1 Baths ⋅ 2591080 MLS ⋅ ACTIVE Status
Sweeping views of Lake Washington take center stage in this waterfront condo at Water's Edge. Floor-to-ceiling windows span the living room, while a generous covered terrace offers views of the ever-changing scenery on the lake. The spacious, open layout features updated flooring and a refreshed kitchen with all appliances replaced in 2024, including an induction range, plus a new sink and faucet. Other updates include a stacked washer/dryer and Elfa closet organizers. Enjoy single-level living with elevator access, a private exterior entrance, on-site parking, and additional storage. An assigned boat slip is just another perk of this amazing community. Preferred lender, Jim Murphy, willing to offer 1% up to $3,650 in closing cost credit for buyer. Ask for details!

9520 Rainier Avenue S Unit #204, Seattle

Listing Broker: Windermere Bellevue Commons; Tina Walters; 206-612-1215; tina.walters@windermere.com

9050 Seward Park Avenue S Unit #A-2, Seattle
$198,850
1 Beds ⋅ 1 Baths ⋅ 2589663 MLS ⋅ ACTIVE Status
Rare 50’ Deeded Fresh-Water Boat Slip at Parkshore Marina – Owner Liveaboard Allowed! Exceptional and rare opportunity to own the largest size class available at the highly coveted Parkshore Marina on Lake Washington. Slip #2 is a premier, uncovered 50-foot deeded condominium slip offering unlimited vertical clearance—perfect for large motor yachts, flybridges & radar arche. Skip the years-long marina waitlists and secure permanent, equity-building placement for your vessel. Mooring in pristine fresh water drastically minimizes hull maintenance, zinc erosion, and saltwater corrosion compared to Puget Sound. Enjoy an unparalleled suite of secure community amenities including gated entry, secure parking, a heated personal storage unit, 24/7 access, laundry facilities, a clubhouse, and clean restrooms with hot showers. Incredibly low operational overhead with base HOA dues of just $201/month, which includes 50 amp electricity and water @ the slip. A temporary $165/month reserve fund assessment ensures proactive, long-term marina infrastructure maintenance. Uniquely positions you to beat restrictive Seattle moorage laws, as full-time owner liveaboards are permitted per marina rules. Stop throwing money away on monthly rent—invest in Seattle waterfront real estate and secure your boat's permanent home today!

9050 Seward Park Avenue S Unit #A-2, Seattle

Listing Broker: John L. Scott, Inc.; Rob Nicholson; 425-894-2600; robn@johnlscott.com

4414 S Frontenac Street Unit #A, Seattle
$449,888
2 Beds ⋅ 3 Baths ⋅ 2589921 MLS ⋅ ACTIVE Status
Experience modern living in these brand-new homes, ideally situated on a quiet street just blocks from vibrant shops, parks, and the light rail station. Offering exceptional value in a highly desirable and convenient location, these homes are among the most affordable new construction opportunities in the area. Choose from six thoughtfully designed residences, each blending contemporary style with everyday functionality. The main level features an open-concept floor plan with a stylish powder room and convenient laundry area. The well-appointed kitchen showcases quartz countertops, a stunning full-height marble backsplash, ample cabinetry, and stainless steel appliances. Upstairs, you'll find two spacious primary suites, each with its own private bathroom. Durable LVP flooring enhances the main level, while rare hardwood flooring throughout the upper level adds warmth and timeless elegance. A year-round mini-split heating and cooling system provides efficient comfort in every season. Each home also includes a private parking space with alley access, providing convenient and secure off-street parking. Make this your home!

4414 S Frontenac Street Unit #A, Seattle

Listing Broker: John L. Scott, Inc; Trung Pham; 206-227-3232; trungp@johnlscott.com

4525 S Henderson Street Unit #103, Seattle
$228,000
1 Beds ⋅ 1 Baths ⋅ 2583840 MLS ⋅ ACTIVE Status
Well-maintained studio with an open bedroom area, ideally located just one block from the light rail and minutes to Boeing and downtown Seattle. Originally built in 1967 and renovated in 1993, this spacious unit features stainless steel appliances, granite countertops, tile flooring, in-unit washer/dryer, newer interior paint, two storage spaces, and two deeded parking spots. Low HOA dues include water, sewer, and garbage. Pet-friendly (cats and dogs under 25 lbs). Secure building and an unbeatable walkable lifestyle—close to the lake, parks, trails, market, retail, library, and community center, with easy freeway access. A fantastic commuter location at an affordable price—schedule your private showing today!

4525 S Henderson Street Unit #103, Seattle

Listing Broker: WeLakeside; Angie Jin; 206-698-9321; angiejin539@gmail.com

4210 S Holly Street, Seattle
$499,000
4 Beds ⋅ 2 Baths ⋅ 2582451 MLS ⋅ ACTIVE Status
Incredible investment or project opportunity in Columbia City! Built in 1918, this classic 2,520 sq ft, two-story home sits on a 2,880 sq ft lot and offers outstanding potential for investors, or ambitious buyers looking to build equity. 4 bedrooms, 1.25 bathrooms, and a bright main level featuring high ceilings, dark wood trim detail, and large windows that bring in ample natural light. Has unfinished basement. Generous kitchen area with a cozy built-in breakfast nook alcove awaiting your custom redesign. Expansive full basement provides excellent potential for extra storage, a workshop, or additional living space expansion. Includes a fully fenced yard space, a long side driveway for off-street parking, and a detached garage/outbuilding. Located just 0.5 miles from the Othello Light Rail Station for quick, direct access to Downtown Seattle, Sea-Tac Airport, and beyond. Conveniently situated within walking distance to local shops, dining, parks, and Columbia City amenities. Property sold as-is. Bring your contractor, vision, and offer!

4210 S Holly Street, Seattle

Listing Broker: John L. Scott, Inc; Moose Math; 206-227-2700; moose@moosegrouphomes.com

9050 Seward Park Avenue S Unit #70, Seattle
$69,900
2580050 MLS ⋅ ACTIVE Status
Discover the ease of true shoreline living at Parkshore Marina on Lake Washington. Unlike a typical dock slip, #70 sits right at the water's edge. Pull your car up, load your gear, and you're on the water in minutes, easy-peasy! This 26-foot slip is ideal for boaters who value convenience above all, and it's just as well-suited to a rental investment as it is to your own boat. The slip includes a 30-amp power pedestal and potable water, and there is internet access on site as well, all covered by HOA dues, along with heated private storage. No rental cap, and slip-owner live-aboard is permitted, subject to marina rules and an additional fee. This gated marina offers an on-site manager, ample secure parking, and a clubhouse with showers, restrooms, and laundry facilities. A public boat launch and waterfront park sit right next door, adding easy in-and-out access plus convenient green space to enjoy when you're off-water. Whether you're stepping up from a smaller slip or securing your very first spot on Lake Washington, shoreline moorage is rare and not often available for purchase. The seller has held the slip since 1980 and it's now time for its next long-term owner.

9050 Seward Park Avenue S Unit #70, Seattle

Listing Broker: Realogics Sotheby's Int'l Rlty; Chris Kallin; 206-999-6920; chris.kallin@rsir.com

5022 Martin Luther King Jr Way S Unit #502, Seattle
$244,000
1 Beds ⋅ 1 Baths ⋅ 2580472 MLS ⋅ ACTIVE Status
Say goodbye to rising rent and hello to brand-new homeownership at Liberty Commons! A dream location, you are just steps from local coffee shops, bustling farmers markets, and diverse neighborhood dining for effortless, car-free living. Boasting a Walk Score of 87, the Columbia City Light Rail station just blocks away and "very bikeable" bike score with excellent infrastructure for daily cyclists.Enjoy the ultimate new construction peace of mind in this thoughtfully designed 1-bedroom home, featuring light-filled interiors, in-unit laundry, and all brand-new appliances included. Community amenities include a sprawling 2,000 sq. ft. shared courtyard, elevator access, and secure bike storage. Backed by Habitat for Humanity with active HOA support and buy-back program that ensures long-term building health, investment stability and equity protection. Twenty-five 1-bedroom homes available starting at $221,000. Own for less than renting with down payments as low as 1% and special WSHFC financing (below-market rates- today as low as 5%! & no mortgage insurance). Income limits apply (up to 80% AMI). Welcome home!

5022 Martin Luther King Jr Way S Unit #502, Seattle

Listing Broker: KW Greater Seattle; Lindsey Sargent; 206-778-0493; lindseysargent@kw.com

9030 Seward Park Avenue S Unit #311, Seattle
$279,999
1 Beds ⋅ 1 Baths ⋅ 2579923 MLS ⋅ ACTIVE Status
Updated spacious unit with covered balcony and a corner view of Lake Washington. Unit features a one bedroom with walk-in closet and one full bath. Updated flooring, bathroom, interior paint, and new doors. Secured gated parking with one assigned space and private storage. Community includes heated pool and cabana, sauna, waterfront recreation room with full kitchen and pool table, and lobby lounge. HOA dues include sewer, water, and garbage. The building is currently sitting below the rental cap. This turnkey property represents an exceptional opportunity for homeowners and savvy investors alike. This is a short sale.

9030 Seward Park Avenue S Unit #311, Seattle

Listing Broker: eXp Realty; Amy Huynh; 206-954-9100; huynh.11.amy@gmail.com

5022 Martin Luther King Jr Way S Unit #10, Seattle
$328,000
2 Beds ⋅ 1 Baths ⋅ 2579816 MLS ⋅ ACTIVE Status
Secure your future and build lasting equity at Liberty Commons! Designed for long-term stability, these brand-new 2-bedroom homes offer a unique path to homeownership backed by the lasting support and stewardship of Habitat for Humanity. Enjoy total peace of mind with active HOA governance, lower ongoing ownership risks, and a dedicated buy-back model that protects community equity and building health for years to come.Spanning light-filled, thoughtfully proportioned layouts, each home features a versatile second bedroom—ideal for a home office, roommate, or extra space to grow. Complete with brand-new included appliances, in-unit laundry, elevator access, secure bike storage, and a sprawling 2,000 sq. ft. community courtyard.Twenty-seven 2-bedroom homes starting at $285,000. Take advantage of special WSHFC financing, below-market interest rates- today as low as 5%, zero mortgage insurance, and down payments as low as 1%. Income limits apply (up to 80% AMI). Invest in your community and your future today!

5022 Martin Luther King Jr Way S Unit #10, Seattle

Listing Broker: KW Greater Seattle; Lindsey Sargent; 206-778-0493; lindseysargent@kw.com

5022 Martin Luther King Jr Way S Unit #509, Seattle
$175,000
1 Baths ⋅ 2579647 MLS ⋅ ACTIVE Status
Modern, Efficient Studio Living in Vibrant Columbia City!Welcome to Liberty Commons—an incredible opportunity for permanently affordable homeownership in one of Seattle’s most dynamic neighborhoods! This thoughtfully designed studio offers smart, light-filled efficiency paired with fantastic community amenities, complete with in-unit laundry and all appliances included. Enjoy outdoor relaxation in the sprawling 2,000 sq. ft. shared courtyard, and secure bike storage for seamless, car-free living.Situated steps from the Columbia City Light Rail station, your commute to Downtown Seattle or SeaTac is effortless, with local cafes, eateries, and rich culture right outside your front door. Liberty Commons is backed by Habitat for Humanity, offering long-term peace of mind with active HOA involvement and a buy-back program that ensures long-term building health, investment stability and equity protection. Five studios available starting at $165,000. Homeownership in Seattle is within reach, with downpayments as low as 1% and special financing through the WSHFC with no Mortgage insurance & below market interest rates- today as low as 5%! Income qualification guidelines apply. Stop renting and start building equity today. Welcome Home.

5022 Martin Luther King Jr Way S Unit #509, Seattle

Listing Broker: KW Greater Seattle; Lindsey Sargent; 206-778-0493; lindseysargent@kw.com

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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.
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