Dreaming of country living with endless potential? This picturesque 10-acre hobby farm offers the perfect blend of rustic charm, functionality, and opportunity. The property features pasture for horses, a loafing shed, mini-barn, detached garage, huge pole building/shop, a seasonal duck pond, and a truly special original homestead barn over 100 years old, ready to be restored to its former glory or reimagined as a one-of-a-kind venue for gatherings, barn parties, or harvest celebrations. The inviting Craftsman farmhouse is full of warmth and character, highlighted by a large covered front porch made for sipping lemonade or sweet tea while taking in the peaceful farm setting. Adding to the property’s charm is a mature orchard featuring 16 varieties of apples, Asian pears, and plums, creating a beautiful and fruitful extension of the farm lifestyle. Inside, you’ll find a main-level primary suite, a charming country kitchen with pot-belly stove, a dining room overlooking the property, plus 3 upstairs bedrooms and an office/bonus room. Recently improved pricing reflects a seller who is prepared and ready for the next chapter, presenting a compelling opportunity for buyers seeking value and lifestyle. Whether you’re dreaming of animals, gardens, entertaining, or simply room to roam, this property is rich with possibility.
Pending
Listed by: RE/MAX Exclusive • Stephanie L. Patrick
Price cut: $24K (4/24)
$915,000
2723 Key Peninsula Highway SW, Lakebay, WA 98349
4beds
2,534sqft
Single Family Residence
Built in 1940
10 Acres Lot
$885,500 Zestimate®
$361/sqft
$-- HOA
What's special
Loafing shedPasture for horsesDetached garageSeasonal duck pondMain-level primary suiteInviting craftsman farmhousePeaceful farm setting
- 101 days |
- 72 |
- 1 |
Zillow last checked:
Listing updated:
Listed by:
Stephanie L. Patrick,
RE/MAX Exclusive
Source: NWMLS as distributed by MLS GRID,MLS#: 2499275
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 1
Primary bedroom
- Level: Main
Bedroom
- Level: Second
Bedroom
- Level: Second
Bedroom
- Level: Second
Bathroom full
- Level: Main
Bathroom three quarter
- Level: Main
Bonus room
- Level: Second
Den office
- Level: Main
Entry hall
- Level: Main
Kitchen with eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Main
Heating
- Fireplace, Forced Air, Heat Pump, Stove/Free Standing, Electric
Cooling
- Forced Air, Heat Pump
Appliances
- Included: Dishwasher, Double Oven, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Microwave(s), Refrigerator(s), Washer(s)
Features
- Bath Off Primary, Ceiling Fan(s), Dining Room
- Flooring: Ceramic Tile, Hardwood, Vinyl, Carpet
- Windows: Dbl Pane/Storm Window, Skylight(s)
- Basement: None
- Number of fireplaces: 2
- Fireplace features: Wood Burning, Main Level: 2, Fireplace
Interior area
- Total structure area: 2,534
- Total interior livable area: 2,534 sqft
Video & virtual tour
Property
Parking
- Total spaces: 4
- Parking features: Detached Carport, Driveway, Detached Garage, RV Parking
- Has garage: Yes
- Has carport: Yes
- Covered spaces: 4
Features
- Levels: One and One Half
- Stories: 1
- Entry location: Main
- Patio & porch: Bath Off Primary, Ceiling Fan(s), Dbl Pane/Storm Window, Dining Room, Fireplace, Skylight(s), Wet Bar
- Has view: Yes
- View description: Pond, Territorial
- Has water view: Yes
- Water view: Pond
Lot
- Size: 10 Acres
- Features: Barn, Cable TV, Deck, Fenced-Partially, Green House, High Speed Internet, Outbuildings, Patio, RV Parking, Shop
- Topography: Equestrian,Level,Rolling
- Residential vegetation: Fruit Trees, Garden Space, Pasture
Details
- Parcel number: 0020114010
- Zoning description: Jurisdiction: County
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 1/2 Story
- Property subtype: Single Family Residence
Materials
- Wood Siding, Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1940
Utilities & green energy
- Electric: Company: Peninsula Light Company
- Sewer: Septic Tank, Company: Septic
- Water: Individual Well, Company: Individual Well
Community & HOA
Community
- Subdivision: Lakebay
Location
- Region: Lakebay
Financial & listing details
- Price per square foot: $361/sqft
- Tax assessed value: $738,500
- Annual tax amount: $6,825
- Date on market: 4/16/2026
- Cumulative days on market: 89 days
- Listing terms: Conventional,FHA,VA Loan
- Inclusions: Dishwasher(s), Double Oven, Dryer(s), Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Estimated market value
$885,500
$841,000 - $930,000
$3,150/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/26/2026 | Pending sale | $915,000$361/sqft |
Source:  NWMLS as distributed by MLS GRID #2499275 Report a problem | ||
| 4/24/2026 | Price change | $915,000-2.6%$361/sqft |
Source: NWMLS as distributed by MLS GRID #2499275 Report a problem | ||
| 4/3/2026 | Listed for sale | $939,000+111.1%$371/sqft |
Source: NWMLS as distributed by MLS GRID #2499275 Report a problem | ||
| 4/25/2017 | Sold | $444,719-1.1%$176/sqft |
Source: NWMLS as distributed by MLS GRID #958209 Report a problem | ||
| 3/16/2017 | Pending sale | $449,500$177/sqft |
Source: RE/MAX Metro Realty, Inc. #958209 Report a problem | ||
| 9/13/2016 | Price change | $449,500-4.3%$177/sqft |
Source: RE/MAX METRO REALTY #958209 Report a problem | ||
| 6/13/2016 | Listed for sale | $469,500+102.4%$185/sqft |
Source: RE/MAX METRO REALTY #958209 Report a problem | ||
| 6/8/2001 | Sold | $232,000$92/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $6,424 +0.4% | $738,500 +4.1% |
| 2023 | $6,399 +3.2% | $709,600 -0.9% |
| 2022 | $6,200 +9.4% | $716,400 +27.6% |
| 2021 | $5,668 +28.1% | $561,500 +16.3% |
| 2019 | $4,426 +5.5% | $482,900 +16.4% |
| 2018 | $4,195 +11.9% | $414,700 +17.8% |
| 2017 | $3,747 +20.3% | $352,000 +23.6% |
| 2016 | $3,115 | $284,800 +15.9% |
| 2014 | $3,115 +1.6% | $245,700 +0.6% |
| 2013 | $3,065 | $244,200 +4% |
| 2012 | -- | $234,900 -15.4% |
| 2011 | -- | $277,700 -9.3% |
| 2010 | -- | $306,100 -12.5% |
| 2009 | $3,223 +30.6% | $349,700 -0.6% |
| 2008 | $2,468 | $351,700 +28.4% |
| 2007 | $2,468 +12.1% | $273,900 +58.2% |
| 2002 | $2,201 -2.2% | $173,100 +5.2% |
| 2001 | $2,250 | $164,500 +1.9% |
| 2000 | $2,250 | $161,400 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 98349
Nearby schools
GreatSchools rating
- 6/10Evergreen Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 4/10Key Peninsula Middle SchoolGrades: 6-8Distance: 5.2 mi
- 8/10Peninsula High SchoolGrades: 9-12Distance: 12.5 mi
Schools provided by the listing agent
- Elementary: Evergreen Elem
- Middle: Key Peninsula Mid
- High: Peninsula High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
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