7418 207th Avenue E, Bonney Lake, WA 98391
- $865,000
- 2,788
- SqFt
Listing courtesy of Rethinking Real Estate LLC.
- List Price
- $865,000
- Status
- PENDING
- MLS#
- 2527663
- Price Change
- ▼ $30,900 1781215663
- Days on Market
- 59
- 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
Rare opportunity to own a well-maintained duplex in the highly desirable Lake Tapps area, tucked away on a quiet dead-end street surrounded by mature trees and a peaceful neighborhood setting. Purchased from builder by sellers in 2003, this property has been an exceptional long-term investment with strong appreciation, reliable tenants, and steadily increasing rental income. Each spacious unit offers nearly 1400 sq ft with 3 bedrooms, 2.5 baths, full-size laundry, large primary suites with walk-in closets, private decks, backyards, and oversized 2-car garages, a combination that has made tenant retention remarkably strong. Current tenant in Unit 1 has been extremely reliable and would like to stay. The previous tenant in Unit 2 remained for 9 years. Unit 2 has recently been refreshed with new interior paint, new laminate flooring throughout the main level, new front-load washer and dryer, new water heater, and new range. Unit 2 also features granite countertops, while Unit 1 offers laminate flooring in the kitchen and dining areas. Entire building received a new roof and gutters in 2026. Neighborhood membership includes access to coveted Church Lake Park on Lake Tapps with private picnic areas, playground, + boat launch access, a rare amenity in an area with limited public lake access. Opportunity for either an investor seeking strong rental appeal and upside potential, or an owner-occupant looking to offset mortgage costs with built-in rental income.
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Additional Information
- List Date
- 2026-06-06 00:36:11
- Community
- Church Lake
- Net Operating Income
- $32,729
- Gross Adjusted Income
- $50,786
- Gross Scheduled Income
- $50,786
- Total Monthly Income
- $2,310
- Insurance Expenses
- $1,416
- Water/Sewer/Garbage Expenses
- $4,126
- Gross Rent Multiplier
- 17.5
- Total Expenses
- $18,057
- Cap Rate
- 4
- 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
- $50,786
- Gross Adjusted Income
- $50,786
- Tax Year
- 2025
- Insurance Expense
- $1,416
- W/S/G Expenses
- $4,126
- Total Expenses
- $18,057
- Net Operating Income
- $32,729
- Gross Rent Multiplier
- 17.5
- Cap Rate
- 4
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.