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  • Listed by: Real Broker LLC • Tim McKeown
    Bought with: Windermere Northlake
    $1,225,000

    505 SW 366th Street, Federal Way, WA 98023

    5beds
    3,350sqft
    Single Family Residence
    Built in 2023
    0.35 Acres Lot
    $1,222,100 Zestimate®
    $366/sqft
    $4,886 Estimated rent

    Home value

    $1,222,100

    $1.14M - $1.32M

    $4,886/mo

    Zestimate® history
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    What's special

    **Price Adjustment** Welcome to South Campus Estates — a coveted enclave of newer-construction homes in Federal Way. Built in 2023 by JK Monarch, this 5-bed, 3.25-bath Modern Farmhouse Craftsman offers 3,350 sq ft on a sprawling 15,118 sq ft lot, no HOA. The great room boasts soaring 18-foot ceilings, while the chef-inspired kitchen anchors the home with a 15-foot island, custom cabinetry to the ceiling, Quartz counters, and an oversized walk-in pantry. Engineered hardwood floors and generous hallways flow throughout. Upstairs, the spacious primary suite offers two closets and an en suite bath. A second en suite bedroom with its own ¾ bath joins two more bedrooms sharing a full bath, plus a bonus loft. A main-floor bedroom with a ¾ bath nearby offers flexible guest or office space. The seller commissioned substantial post-purchase upgrades, completed by the builder — including a 4th garage bay (housing a second kitchen with ADU potential), a backyard storage shed on a concrete slab, and the upstairs ¾ bath/second en suite conversion — a true investment beyond the recorded sale price. Enjoy 4 driveway spaces plus 4 in the garage. A large covered patio with TIG cover overlooks an expansive, level backyard — a blank canvas for landscaping, a pool, or a future DADU. Catch a partial Cascade Mountain view from the front of the home. Minutes to I-5, Costco, and West Hylebos Wetlands Park, with easy access to Seattle, Tacoma, SeaTac, and Puget Sound waterfront.

    Zillow last checked:

    Listing updated:

    Listed by:

    Tim McKeown,

    Real Broker LLC,

    Heather Field,

    Hawkins Poe

    Bought with:

    Gabriel Ellenberg, 133210

    Windermere Northlake

    Source: NWMLS as distributed by MLS GRID,MLS#: 2535682MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 4
    • Full bathrooms: 1
    • 3/4 bathrooms: 3
    • Main level bathrooms: 1
    Primary bedroom
    • Level: Second
    Bedroom
    • Level: Second
    Bedroom
    • Level: Second
    Bedroom
    • Level: Second
    Bedroom
    • Level: Lower
    Bathroom full
    • Level: Second
    Bathroom three quarter
    • Level: Main
    Bathroom three quarter
    • Level: Second
    Bathroom three quarter
    • Level: Second
    Other
    • Level: Second
    Dining room
    • Level: Main
    Entry hall
    • Level: Main
    Great room
    • Level: Main
    Kitchen with eating space
    • Level: Main
    Utility room
    • Level: Second
    Heating
    • Fireplace, 90%+ High Efficiency, Heat Pump, Electric, Natural Gas
    Cooling
    • 90%+ High Efficiency, Heat Pump
    Appliances
    • Included: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Garbage Disposal, Microwave(s), Refrigerator(s), Washer(s), Water Heater: Electric Hybrid, Water Heater Location: Garage
    Features
    • Bath Off Primary, Ceiling Fan(s), Dining Room, Loft, Pantry
    • Flooring: Ceramic Tile, Engineered Hardwood, Carpet
    • Doors: French Doors
    • Windows: Dbl Pane/Storm Window
    • Basement: None
    • Number of fireplaces: 1
    • Fireplace features: Gas, Main Level: 1, Fireplace
    Interior area
    • Total structure area: 3,350
    • Total interior livable area: 3,350 sqft

    Property

    Parking
    • Total spaces: 8
    • Parking features: Driveway, Attached Garage, Off Street, RV Parking
    • Has attached garage: Yes
    • Covered spaces: 4
    • Uncovered spaces: 4
    Features
    • Levels: Two
    • Stories: 2
    • Entry location: Main
    • Patio & porch: Second Kitchen, Bath Off Primary, Ceiling Fan(s), Dbl Pane/Storm Window, Dining Room, Fireplace, French Doors, Loft, Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater
    • Has view: Yes
    • View description: Territorial
    Lot
    • Size: 0.35 Acres
    • Features: Open Lot, Paved, Sidewalk, Fenced-Fully, High Speed Internet, Outbuildings, Patio, RV Parking, Shop
    • Topography: Level,Partial Slope
    Details
    • Parcel number: 7879650050
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: SingleFamily
    • Architectural style: Contemporary,2 Story
    • Property subtype: Single Family Residence
    Materials
    • Cement Planked, Cement Plank
    • Foundation: Poured Concrete
    • Roof: Composition
    Condition
    • Year built: 2023

    Utilities & green energy

    • Electric: Company: Puget Sound Energy
    • Sewer: Sewer Connected, Company: Lakehaven
    • Water: Public, Company: Lakehaven

    Community & HOA

    Community
    • Subdivision: Federal Way
    Location
    • Region: Federal Way

    Financial & listing details

    • Price per square foot: $366/sqft
    • Tax assessed value: $1,148,000
    • Annual tax amount: $10,775
    • Date on market: 6/19/2026
    • Listing terms: Conventional,FHA,VA Loan
    • Inclusions: Dishwasher(s), Dryer(s), Garbage Disposal, Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)

    Price history

    DateEventPrice
    9/1/2026Sold$1,225,000-4.2%$366/sqft
    Source: NWMLS as distributed by MLS GRID #2535682 Report a problem
    8/3/2026Pending sale$1,279,000$382/sqft
    Source: NWMLS as distributed by MLS GRID #2535682 Report a problem
    7/24/2026Price change$1,279,000-3%$382/sqft
    Source: NWMLS as distributed by MLS GRID #2535682 Report a problem
    7/12/2026Price change$1,319,000-5.4%$394/sqft
    Source: NWMLS as distributed by MLS GRID #2535682 Report a problem
    6/19/2026Listed for sale$1,395,000+14.3%$416/sqft
    Source: NWMLS as distributed by MLS GRID #2535682 Report a problem
    12/28/2023Sold$1,219,950+369.2%$364/sqft
    Source: Public Record Report a problem
    6/23/2023Sold$260,000$78/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$11,460 +6.4%$1,148,000 +3.9%
    2024$10,775 $1,105,000
    Find assessor info on the county website

    Neighborhood: 98023

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $1,222,100
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $1,222,100