Perched to capture sweeping, unobstructed panorama views of Puget Sound, this iconic Pacific Northwest retreat is ready for its next chapter. Offered in its original condition, this home is ideal for buyers seeking a chance to renovate, restore, or reimagine a view property into their dream residence. Solid bones, timeless character, and endless potential make this a standout investment opportunity. The expansive unfinished 1,280 sq ft basement adds exceptional flexibility and value, ideal for a workshop, studio, wine cellar, fitness space, storage, or future expansion. Existing plumbing for an additional bathroom opens the door to even more possibilities. Enjoy seamless indoor-outdoor living with a spacious view deck, perfect for entertaining, relaxing, or morning coffee, soak in the incredible scenery year-round. Conveniently located with easy access to light rail (5 miles), Seattle/Tacoma airport (15 miles), shopping, parks, and commuter routes, this home offers a rare combination of peaceful living and unbeatable accessibility.
Sold
Listed by: John L. Scott, Inc. • Allison Pringle
Bought with: RE/MAX Northwest
$965,000
5118 SW 311 Place, Federal Way, WA 98023
4beds
3,300sqft
Single Family Residence
Built in 1972
0.36 Acres Lot
$959,800 Zestimate®
$292/sqft
$3,869 Estimated rent
Home value
$959,800
$893,000 - $1.04M
$3,869/mo
Zestimate® history
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Spacious view deckTimeless characterSolid bones
Zillow last checked:
Listing updated:
Listed by:
Allison Pringle,
John L. Scott, Inc.
Bought with:
Tamara Paul, 26772
RE/MAX Northwest
Source: NWMLS as distributed by MLS GRID,MLS#: 2515671
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 2
- Main level bathrooms: 1
- Main level bedrooms: 3
Primary bedroom
- Level: Second
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Second
Entry hall
- Level: Main
Family room
- Level: Main
Kitchen with eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Lower
Heating
- Fireplace, Forced Air, Electric
Cooling
- Forced Air
Appliances
- Included: Dishwasher, Double Oven, Dryer, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Refrigerator(s), Washer(s), Water Heater: Electric, Water Heater Location: Basement
Features
- Pantry
- Flooring: Hardwood, Stone, Vinyl, Carpet
- Windows: Dbl Pane/Storm Window
- Basement: Daylight,Unfinished
- Number of fireplaces: 2
- Fireplace features: Wood Burning, Lower Level: 1, Main Level: 1, Fireplace
Interior area
- Total structure area: 3,300
- Total interior livable area: 3,300 sqft
Property
Parking
- Total spaces: 3
- Parking features: Attached Carport
- Carport spaces: 3
Features
- Levels: Two
- Stories: 2
- Entry location: Main
- Patio & porch: Dbl Pane/Storm Window, Fireplace, Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater
- Has view: Yes
- View description: Mountain(s), Ocean
- Has water view: Yes
- Water view: Ocean
Lot
- Size: 0.36 Acres
- Features: Paved, Sidewalk, Deck
- Residential vegetation: Brush
Details
- Parcel number: 3210200190
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Mid-Century Modern,2 Stories w/Bsmnt
- Property subtype: Single Family Residence
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1972
- Major remodel year: 1972
Utilities & green energy
- Sewer: Septic Tank
- Water: Public
Community & HOA
Community
- Subdivision: Dash Point
Location
- Region: Federal Way
Financial & listing details
- Price per square foot: $292/sqft
- Tax assessed value: $817,000
- Annual tax amount: $3,753
- Date on market: 6/15/2026
- Cumulative days on market: 37 days
- Listing terms: Conventional,VA Loan
- Inclusions: Dishwasher(s), Double Oven, Dryer(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Price history
| Date | Event | Price |
|---|---|---|
| 6/5/2026 | Sold | $965,000-3.5%$292/sqft |
Source:  NWMLS as distributed by MLS GRID #2515671 Report a problem | ||
| 5/20/2026 | Pending sale | $1,000,000$303/sqft |
Source: NWMLS as distributed by MLS GRID #2515671 Report a problem | ||
| 5/13/2026 | Price change | $1,000,000-2.4%$303/sqft |
Source: NWMLS as distributed by MLS GRID #2515671 Report a problem | ||
| 4/30/2026 | Listed for sale | $1,025,000$311/sqft |
Source: NWMLS as distributed by MLS GRID #2515671 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,753 -6.9% | $732,000 -9.6% |
| 2024 | $4,031 -49.3% | $810,000 +10.7% |
| 2023 | $7,951 +3.2% | $732,000 -7.3% |
| 2022 | $7,702 +7.1% | $790,000 +23.4% |
| 2021 | $7,194 +9.9% | $640,000 +17.2% |
| 2020 | $6,544 +4.6% | $546,000 +3.6% |
| 2019 | $6,258 -1.8% | $527,000 -5.4% |
| 2018 | $6,373 -11.3% | $557,000 +9.6% |
| 2017 | $7,185 +24.4% | $508,000 +11.6% |
| 2016 | $5,777 | $455,000 +6.3% |
| 2015 | $5,777 | $428,000 +7% |
| 2014 | $5,777 | $400,000 +9.9% |
| 2013 | $5,777 | $364,000 +11% |
| 2012 | -- | $328,000 -6.3% |
| 2011 | -- | $350,000 -15.9% |
| 2010 | -- | $416,000 |
| 2009 | -- | $416,000 -10.7% |
| 2007 | -- | $466,000 +5.2% |
| 2006 | -- | $443,000 +11% |
| 2005 | -- | $399,000 +30.8% |
| 2001 | $4,038 +10.3% | $305,000 +14.7% |
| 2000 | $3,660 | $266,000 |
Find assessor info on the county website
Neighborhood: Twin Lakes
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Nearby schools
GreatSchools rating
- 8/10Twin Lakes Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 5/10Lakota Middle SchoolGrades: 6-8Distance: 2 mi
- 4/10Decatur High SchoolGrades: 9-12Distance: 1.5 mi
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Estimated market value
$959,800
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Estimated market value
$959,800
- Washington
- King County
- Federal Way
- 98023
- Twin Lakes
- 5118 SW 311 Place
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