Opportunity awaits in the heart of Lake Chelan! Extensively renovated with a studs-out remodel in 2022 and over $200,000 invested in upgrades, this turnkey property offers a perfect blend of modern comfort, prime location, & income-producing potential. Just blocks from the lake & downtown, this home is ideally positioned as either a full-time residence, vacation retreat, or high-performing short-term rental. This spacious 5 bedroom 2,460-square-foot home features a fully fenced & shaded front yard creating a welcoming outdoor retreat, while the private back patio is designed for entertaining with covered dining, sectional seating around a firepit, and detached storage shed. Inside, nearly every surface & system has been updated, including flooring, appliances, bathrooms, HVAC (AC!), electrical, plumbing, windows, and more. The living room is anchored by a charming bay window framing beautiful mountain views, an expansive dining area comfortably seating 10 guests, 3 bedrooms & a tiled bath with radiant flooring. Two light-filled oversized bedrooms upstairs sharing a full bath. A massive unfinished attic presents potential for future expansion — a bunk room or play area. Thoughtfully redesigned, this move-in-ready property offers flexibility, charm, & proven rental performance in one of Washington’s most sought-after vacation destinations. Inspection report & rental statements available. Schedule a private tour today!
Active
Listed by: Windermere Real Estate Midtown • Jonna Hood
$649,900
507 E Wapato Avenue, Chelan, WA 98816
5beds
2,460sqft
Single Family Residence
Built in 1937
4,356 Square Feet Lot
$623,400 Zestimate®
$264/sqft
$-- HOA
What's special
Detached storage shed
- 18 days
- 451
- 11
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Jonna Hood,
Windermere Real Estate Midtown
Source: NWMLS as distributed by MLS GRID,MLS#: 2570273
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 4
Primary bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Second
Bathroom full
- Level: Second
Bathroom three quarter
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Family room
- Level: Main
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Main
Heating
- Forced Air, Heat Pump, Radiant, Electric
Cooling
- Ductless, Forced Air, Heat Pump
Appliances
- Included: Dishwasher, Microwave, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Microwave(s), Refrigerator(s), Washer(s), Water Heater: Electric, Water Heater Location: Basement
Features
- Dining Room
- Flooring: Ceramic Tile, Laminate, Carpet
- Windows: Dbl Pane/Storm Window
- Basement: Unfinished
- Has fireplace: No
Interior area
- Total structure area: 2,460
- Total interior livable area: 2,460 sqft
Property
Parking
- Total spaces: 5
- Parking features: Detached Carport, Driveway
- Has carport: Yes
- Covered spaces: 1
- Uncovered spaces: 4
Features
- Levels: Two
- Stories: 2
- Entry location: Main
- Patio & porch: Dbl Pane/Storm Window, Dining Room, Sprinkler System, Water Heater
- Has view: Yes
- View description: Mountain(s)
Lot
- Size: 4,356 Square Feet
- Features: Paved, Cable TV, Fenced-Fully, High Speed Internet, Outbuildings, Outdoor Fireplace, Patio, Sprinkler System
- Topography: Level
- Residential vegetation: Garden Space
Details
- Parcel number: 272213512538
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 2 Story
- Property subtype: Single Family Residence
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Very Good
- Year built: 1937
- Major remodel year: 2022
Utilities & green energy
- Electric: Company: Chelan PUD
- Sewer: Sewer Connected, Company: City of Chelan
- Water: Public, Company: City of Chelan
- Utilities for property: Localtel
Community & HOA
Community
- Subdivision: Chelan
Location
- Region: Chelan
Financial & listing details
- Price per square foot: $264/sqft
- Tax assessed value: $475,403
- Annual tax amount: $3,512
- Date on market: 6/5/2026
- Cumulative days on market: 92 days
- Listing terms: Conventional,FHA,VA Loan
- Inclusions: Dishwasher(s), Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Estimated market value
$623,400
$592,000 - $655,000
$2,810/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/18/2026 | Listed for sale | $649,900+60.5%$264/sqft |
Source:  NWMLS as distributed by MLS GRID #2570273 Report a problem | ||
| 8/27/2021 | Sold | $405,000-5.2%$165/sqft |
Source: NWMLS as distributed by MLS GRID #1787949 Report a problem | ||
| 6/14/2021 | Pending sale | $427,000$174/sqft |
Source: NWMLS as distributed by MLS GRID #1787949 Report a problem | ||
| 6/8/2021 | Listed for sale | $427,000$174/sqft |
Source: NWMLS as distributed by MLS GRID #1787949 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $3,334 +7.2% | $475,403 +3.4% |
| 2023 | $3,109 +7.9% | $459,741 +15.5% |
| 2022 | $2,881 +8.3% | $398,103 +29.9% |
| 2021 | $2,660 -4.2% | $306,498 -0.5% |
| 2020 | $2,776 +9.7% | $307,905 +10.3% |
| 2018 | $2,530 -4.2% | $279,126 +6.3% |
| 2017 | $2,640 +76.1% | $262,568 +33.5% |
| 2016 | $1,499 | $196,649 +27.5% |
| 2015 | $1,499 | $154,245 -1.1% |
| 2013 | $1,499 | $155,981 -4.2% |
| 2012 | -- | $162,759 +24% |
| 2011 | $1,373 -12.9% | $131,270 -14.7% |
| 2010 | $1,575 | $153,913 -21.2% |
| 2008 | -- | $195,377 +106.8% |
| 2007 | -- | $94,491 |
| 2006 | -- | $94,491 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 98816
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