NEW

Listed by Petru Mihaluta • Windermere RE South Sound, Inc.

For sale

$392,000

Est. $2,511/mo —

•

1,150

sq ft

704 S 314th St, Federal Way, WA 98003

About this home

BIG CORNER LOT, NO HOA, AND INCREDIBLE POTENTIAL AT $392,000! Bring your vision to this 3-bedroom Federal Way rambler offering approximately 1,150 sq ft of single-level living on a generous 8,337 sq ft corner lot in the established Mirror Lake neighborhood. The functional floor plan includes a comfortable living room with attractive wood-look flooring, a kitchen with adjoining dining space, and a versatile bonus room perfect for a home office, hobbies, or additional living space. The home features a refreshed ¾ bath with a tiled walk-in shower, plus a convenient second half bath. Outside, enjoy an expansive yard with plenty of room for gardening, landscaping, outdoor activities, and future improvements, subject to applicable approvals. A covered carport, driveway parking, and additional storage add everyday convenience. Located directly across from Mirror Lake Elementary School, with convenient access to shopping, dining, and major commuter routes. This property offers a fantastic opportunity for a handy buyer ready to make improvements, personalize the home, and build value over time. The generous lot, flexible layout, and freedom of NO HOA offer exciting possibilities. Bring your ideas, imagine what this property could become, and schedule your private showing today!

Single-familyProperty Type

1950Year Built

8,337 sq ftLot Size

$341Price/Sq.Ft.

2 spacesParking

Listed by Petru Mihaluta • Windermere RE South Sound, Inc

Listing updated: Nov 8, 2026 at 07:37pm

Redfin checked: 2 minutes ago

•Source:NWMLS as Distributed by MLS Grid #2602192

Payment calculator

$2,511 per month

Principal and interest$2,113

Property taxes

$340

HOA dues

Home insurance

$59

Utilities

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Next available date: Monday, November 9

Open houses

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Nearby open houses (10)

OPEN NOV 9, 10AM TO 6PM
$829,995
5 beds3 baths2,535 sq ft
5416 S 328th St #12, Auburn, WA 98001
6,000 sq ft lot • Garage • Built 2026
Laura Snider • DR Horton
OPEN NOV 9, 11AM TO 5PM
$761,000
4 beds2.5 baths2,400 sq ft
25619 124th Pl SE #19, Kent, WA 98030
3,200 sq ft lot • Garage • Built 2026
Hannah Ehrenheim • Berkshire Hathaway HS SSP
OPEN NOV 9, 11AM TO 5PM
$714,900
3 beds2.5 baths1,910 sq ft
12421 SE 256th Pl #1, Kent, WA 98030
5,895 sq ft lot • Garage • Built 2026
Hannah Ehrenheim • Berkshire Hathaway HS SSP
OPEN NOV 9, 11AM TO 5PM
$699,900
3 beds2.5 baths1,910 sq ft
12420 SE 256th Pl #14, Kent, WA 98030
3,257 sq ft lot • Garage • Built 2026
Hannah Ehrenheim • Berkshire Hathaway HS SSP
OPEN NOV 9, 11AM TO 4PM
$749,990
4 beds3 baths2,400 sq ft
11618 62nd Street Ct E #14, Puyallup, WA 98372
6,160 sq ft lot • Garage • Built 2026
Erika Binder • Sekisui House Residential Rlty
OPEN NOV 9, 11AM TO 4PM
$774,990
4 beds1.5 baths2,660 sq ft
11622 62nd Street Ct E #13, Puyallup, WA 98372
6,160 sq ft lot • Garage • Built 2026
Misti Adrian • Sekisui House Residential Rlty
OPEN NOV 9, 11AM TO 4PM
$799,990
4 beds1.5 baths2,660 sq ft
11612 62nd Street Ct E #15, Puyallup, WA 98372
7,043 sq ft lot • Garage • Built 2026
Misti Adrian • Sekisui House Residential Rlty
OPEN NOV 9, 3PM TO 5PM3D WALKTHROUGH
$575,000
3 beds1.5 baths2,270 sq ft
907 S Huson St, Tacoma, WA 98405
5,250 sq ft lot • Garage • Built 1949
Michelle Charlton • Neighborhood Experts Real Est.
OPEN NOV 14, 11AM TO 1PM
$974,000
3 beds2.5 baths3,240 sq ft
7901 Connells Prairie Rd E, Bonney Lake, WA 98391
0.25 acre lot • Garage • Built 2019
Emily Peña Howell • Best Choice Realty
OPEN NOV 14, 11AM TO 1PM
$174,999
3 beds2 baths1,248 sq ft
15410 se 272 St #11, Kent, WA 98042
2 parking spots • Built 1995
Doris Sierra Sanchez • Real Broker LLC

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Around this home

Schools

K - 12
Preschool & daycare

Mirror Lake Elementary School

Public PreK-5 • Assigned • 0.1mi

3/10

Sacajawea Middle School

Public 6-8 • Assigned • 1.0mi

5/10

Federal Way Senior High School

Public 9-12 • Assigned • 0.7mi

3/10

Provided by GreatSchools

About Mirror

Lake

Mirror Lake, located between SW 320th St and I-5, is a residential and lakeside Federal Way neighborhood with evergreen slopes and a small, walkable lakefront. The neighborhood’s character concentrates around the Mirror Lake Park shoreline, where anglers, dog-walkers, and picnic tables share the same loop path. Mid-century ramblers and split-levels sit along curving streets, with newer townhome pockets near the main arterials. Mirror Lake Park’s fishing pier and open lawns set a calm, outdoors-first rhythm. Nearby, the Federal Way Performing Arts & Event Center, Poverty Bay Cafe, and the Centerstage Theatre add a cultural counterpoint to the greenery.

Provided by Walk Score and Local Logic

Market insights

704 S 314th St · $392,000

SALE-TO-LIST

Most homes are selling 2% below list price.

LIST PRICE

Median sale price in this area is $967,998. (147% higher than this home)

PRICE DROP

27% of homes in this area have had a price drop in the past month.

Property details

Interior
Exterior
Finance

Kitchen

Bathroom

Living

Bedrooms
Three bedrooms, all on the main level

Bathrooms
One three-quarter bathroom and one half bathroom, both on the main level

Kitchen
Microwave, refrigerator, stove/range

Laundry & utility
Washer and dryer

Flooring
Vinyl, vinyl plank, carpet

Heating & cooling
Forced-air heating
No cooling

Sale and tax history for 704 S 314th St

Sale History
Tax History

Year

Property tax

Land + Additions

Assessment*

2026

$4,076 (+6.0%)

$174,000 + $214,000

$388,000

2025

$3,845 (+0.9%)

$174,000 + $214,000

$388,000

2024

$3,812 (+2.8%)

$174,000 + $202,000

$376,000

2023

$3,706 (+9.5%)

$157,000 + $184,000

$341,000

2022

$3,386 (+15.6%)

$143,000 + $227,000

$370,000

2021

$2,929 (+8.9%)

$114,000 + $179,000

$293,000

2020

$2,690 (+7.8%)

$93,000 + $144,000

$237,000

2019

$2,494 (−8.5%)

$75,000 + $137,000

$212,000

2018

$2,725 (+17.0%)

$75,000 + $137,000

$212,000

2017

$2,330 (+2.7%)

$69,000 + $119,000

$188,000

2016

$2,268 (+7.3%)

$63,000 + $97,000

$160,000

2015

$2,114 (+1.3%)

$60,000 + $89,000

$149,000

2014

$2,087 (+2.3%)

$60,000 + $82,000

$142,000

2013

$2,040 (−3.0%)

$73,000 + $54,000

$127,000

2012

$2,104 (−3.5%)

$73,000 + $48,000

$121,000

2011

$2,181 (−0.9%)

$98,000 + $66,000

$164,000

2010

$2,200 (+0.2%)

$98,000 + $73,000

$171,000

2009

$2,196

$76,000 + $120,000

$196,000

Public record

Beds

Baths

Stories

Lot width

—

Lot depth

—

Lot size

8,337 Sq. Ft.

Year renovated

—

Finished Sq. Ft.

1,150

Unfinished Sq. Ft.

—

Total Sq. Ft.

1,150

Year built

1950

Style

Single Family Residential

County

King County

APN

555960 0160

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Sep 5, 2026.

Local insights from Redfin agents

Federal Way buyers should compare lot sizes, views, and shopping access in Twin Lakes, Marine Hills, and Dash Point. Sellers should highlight their home’s strengths and price against nearby comparable sales. Explore Dash Point State Park and Dumas...
3 weeks ago • Federal Way
Shauna Rumel
Redfin agent
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Situated right along the Puget Sound, Federal Way is best known for its blend of natural beauty, fun attractions, and rich local culture! Locals love it for its vibrant dining scene and convenient location right between Seattle and Tacoma!
3 weeks ago • Federal Way
Andrew Maglalang-Weakley
Redfin Premier agent • Listing Agent
469 deals
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Climate risks

1/10 Flood Factor

Minimal risk of a flood reaching the building in the next 30 years

1/10 Fire Factor

Unlikely to be in a wildfire in next 30 years

3/10 Heat Factor

7 days above 87° expected this year, 15 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

7/10 Air Factor

10 unhealthy days expected this year, 11 days in 30 years

Provided by First Street

Historical weather

Federal Way, WA • 98003

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

94/ 100

Exceptional sunlight

Sunscore

This home ranks in the top 6% for direct sun exposure in Federal Way. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.

10.3 hrs

5.8 hrs

JuneDecember

Provided by Shadowmap

Redfin Estimate for 704 S 314th St

$392,062

$62 over list price of $392K

Nearby comparable homes

The Redfin Estimate uses 6 recent nearby sales, priced between $400K to $550K.

SOLD SEP 4, 2026
$525,000 Last sold price
3 beds2.5 baths1,800 sq ft
31624 3rd Pl S, Federal Way, WA 98003
Listing provided by nwmls
$49/sq ft
35 years newer
finished basement
SOLD JUL 8, 2026
$541,000 Last sold price
3 beds1.5 baths1,320 sq ft
316 S 308th St, Federal Way, WA 98003
Listing provided by nwmls
$69/sq ft
larger lot
16 years newer
SOLD SEP 11, 2026
$530,000 Last sold price
4 beds2 baths1,780 sq ft
31245 9th Ave S, Federal Way, WA 98003
Listing provided by nwmls
$43/sq ft
larger lot
19 years newer
SOLD MAR 24, 2026
$400,000 Last sold price
3 beds2 baths1,730 sq ft
30457 4th Ave S, Federal Way, WA 98003
Listing provided by nwmls
$110/sq ft
13 years newer
SOLD MAR 27, 2026
$529,950 Last sold price
4 beds2 baths1,180 sq ft
30127 10th Ave S, Federal Way, WA 98003
Listing provided by nwmls
$108/sq ft
smaller lot
17 years newer
SOLD OCT 23, 2026
$550,000 Last sold price
3 beds2 baths1,480 sq ft
219 S 316th Pl, Federal Way, WA 98003
Listing provided by nwmls
$31/sq ft
33 years newer

Rental earnings

Est. $2,662 per month, based on comparable rentals

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(206) 207-3685

Listed by Windermere RE South Sound, Inc

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$392,000

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704 S 314th St, Federal Way, WA 98003

Corner lot • No hoa • Refreshed bath

Listing provided by NWMLS as Distributed by MLS Grid

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Listing provided by NWMLS as Distributed by MLS Grid

Details provided by NWMLS as Distributed by MLS Grid and may not match the public record. Learn more.

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About this home

Payment calculator

Affordability tools

See this home in person

Nearby open houses (10)

Interested in buying?

Around this home

Schools

Market insights

Property details

Sale and tax history for 704 S 314th St

Public record

Local insights from Redfin agents

Climate risks

Historical weather

Sun exposure

Redfin Estimate for 704 S 314th St

Early Access listings

Nearby similar homes

New listings for sale in 98003

More real estate resources