**Exceptional Development Opportunity – The Value Is in the Land!** Prime 4,400 SF level lot (40' x 110') in one of Seattle's rapidly transforming neighborhoods. Builder activity is already underway with four new homes currently under construction directly across the street, highlighting the strong demand for new housing in the area. Zoned **Neighborhood Residential (NR)** under Seattle's Unified Development Code, this property offers exciting redevelopment potential. Four units are permitted by right with no discretionary design review required for that density. The site may also qualify for additional density through stacked-flat and/or frequent-transit bonus provisions due to its proximity to the Madison Street RapidRide G Line (buyer to verify). Potential eligibility for the 1.6 FAR tier allows approximately 7,000 SF of buildable floor area. Height limits are 32 feet, with potential for up to 42 feet through qualifying tree canopy incentives. An outstanding opportunity for builders, developers, and investors looking to capitalize on Seattle's evolving housing market. Buyer to verify all zoning, density, FAR, height, and development potential to their own satisfaction.
Pending
Listed by: Windermere Real Estate/East • Anastasia Miles
$995,000
215 31st Avenue E, Seattle, WA 98112
1beds
1,440sqft
Single Family Residence
Built in 1950
4,399 Square Feet Lot
$987,300 Zestimate®
$691/sqft
$-- HOA
What's special
- 52 days
- 33
- 1
Zillow last checked:
Listing updated:
Listed by:
Anastasia Miles,
Windermere Real Estate/East
Source: NWMLS as distributed by MLS GRID,MLS#: 2550121
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 1
Primary bedroom
- Level: Main
Bathroom full
- Level: Main
Entry hall
- Level: Main
Kitchen with eating space
- Level: Main
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Heating
- Baseboard, Electric
Cooling
- None
Appliances
- Included: Dishwasher, Disposal, Dryer, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Garbage Disposal, Refrigerator(s), Washer(s)
Features
- Flooring: Slate, Carpet
- Windows: Dbl Pane/Storm Window
- Basement: Daylight,Finished
- Has fireplace: No
Interior area
- Total structure area: 1,440
- Total interior livable area: 1,440 sqft
Property
Parking
- Parking features: Driveway
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Dbl Pane/Storm Window, Walk-In Closet(s)
- Has view: Yes
- View description: Territorial
Lot
- Size: 4,399 Square Feet
- Dimensions: 110 x 40 x 110 x 40
- Features: Paved, Sidewalk, Value In Land, Fenced-Partially
- Topography: Level
Details
- Parcel number: 9828700395
- Zoning: NR3
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story w/Bsmnt.
- Property subtype: Single Family Residence
Materials
- Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Fixer
- Year built: 1950
- Major remodel year: 1950
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected
- Water: Public
Community & HOA
Community
- Features: Park
- Subdivision: Madison Valley
Location
- Region: Seattle
Financial & listing details
- Price per square foot: $691/sqft
- Tax assessed value: $630,000
- Annual tax amount: $6,182
- Date on market: 8/11/2026
- Cumulative days on market: 19 days
- Listing terms: Conventional
- Inclusions: Dishwasher(s), Dryer(s), Garbage Disposal, Refrigerator(s), Stove(s)/Range(s), Washer(s)
Estimated market value
$987,300
$938,000 - $1.04M
$2,129/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/16/2026 | Pending sale | $995,000$691/sqft |
Source:  NWMLS as distributed by MLS GRID #2550121 Report a problem | ||
| 7/10/2026 | Listed for sale | $995,000$691/sqft |
Source: NWMLS as distributed by MLS GRID #2550121 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,865 +11.1% | $630,000 +3.6% |
| 2024 | $6,182 +4.9% | $608,000 +2.9% |
| 2023 | $5,894 +5.8% | $591,000 -5.1% |
| 2022 | $5,570 +2.6% | $623,000 +11.3% |
| 2021 | $5,428 +2.5% | $560,000 +7.9% |
| 2020 | $5,295 +0.2% | $519,000 -1.3% |
| 2019 | $5,286 +9.8% | $526,000 -1.3% |
| 2018 | $4,814 +4.1% | $533,000 +19.8% |
| 2017 | $4,624 +57.2% | $445,000 +22.3% |
| 2016 | $2,942 | $364,000 +7.7% |
| 2015 | $2,942 | $338,000 +17.4% |
| 2014 | $2,942 | $288,000 +24.1% |
| 2013 | $2,942 | $232,000 +13.2% |
| 2012 | -- | $205,000 |
| 2011 | -- | $205,000 -5.1% |
| 2010 | -- | $216,000 |
| 2009 | -- | $216,000 -20.3% |
| 2007 | -- | $271,000 +8% |
| 2006 | -- | $251,000 +13.6% |
| 2005 | -- | $221,000 +39% |
| 2001 | $1,925 +16.8% | $159,000 +23.3% |
| 2000 | $1,648 | $129,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Madison Valley
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