Property Details
2221 SW 306th Pl
Federal Way, WA 98023
$520,000
Pending
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About This Home
Calling all visionaries, contractors, and value-add investors! This split-level home in a quiet, established Federal Way neighborhood is a rare opportunity to build serious equity through sweat and smart renovation. Originally built in 1976, this 3-bedroom home offers a classic split-level layout with distinct living spaces on each level — a floor plan that has stood the test of time and just needs your vision to shine again.Yes, this home needs love — plenty of it — but that's exactly where the opportunity lies. Priced to reflect its condition, this is your chance to secure a home in a desirable pocket of Federal Way at a fraction of market-ready pricing, then customize every finish to your own taste.This location works in your favor: tucked into an established residential street with mature landscaping and long-time neighbors, it's convenient to Highway 99 and I-5 for an easy commute, and just minutes from Dash Point State Park and Beach, French Lake Off-Leash Dog Park, and Alderdale Park. Everyday essentials are close by too, with Safeway, Fred Meyer, and QFC nearby, along with local favorites like Bigfoot Java and JP's Tavern. Federal Way's housing market has shown strong, consistent demand, making this a smart long-term hold or flip.The bones are here — the potential is yours to unlock. Whether you're an investor looking for your next project, a contractor ready to add value, or a buyer with a vision and some DIY grit, this split-level offers the space and structure.
Property Details
Property Information
Property Type
Residential
Subtype
Single Family Residence
Status
Pending
County
King
Neighborhood
Federal Way
Listed
Aug 1, 2026
Structure Type
House
Parcel Number
4167300290
Tax & HOA
Annual Property Tax
$5,657 (2026)
Est. Monthly Tax
$471/mo
Interior Features
Bedrooms
3
Bathrooms
2.5
Half Baths
1
Living Area
1,910 sq ft
Basement
Finished
Interior Features
Ceiling Fan(s), Dining Room, Fireplace, Vaulted Ceiling(s)
Exterior & Lot
Lot Size
0.23 sqft
Year Built
1976
Exterior Materials
Wood
Parking
Attached Garage
Sewer
Available
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood
Community & Access
Directions
GPS
Location
City
Federal Way
County
King
Coordinates
47.32710, -122.36290
Schools
School District
Federal Way
Elementary School
Adelaide Elem
Middle School
Lakota Mid Sch
High School
Decatur High
Additional Information
Tax Year
2026
Annual Taxes
$5,657
Possession
Array
Inclusions
Dishwasher(s),Microwave(s),Refrigerator(s),Stove(s)/Range(s)
Mortgage Calculator
Estimated Monthly Payment
$0
Down Payment
$0
Loan Amount
$0
Provided by Beyond Real Estate, LLC
Down Payment Assistance Available
This property may qualify for homebuyer assistance programs
Find out if you’re eligible for down payment assistance programs that could help make this home more affordable. Programs can provide thousands of dollars toward your down payment and closing costs.
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