$895,900
Est. $4,544/mo7418 207th Avenue E, Bonney Lake, WA 98391
• Listed 2026-05-22•5 days on market
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About this home
Rare opportunity to own a well-maintained duplex in the highly desirable Lake Tapps area, tucked away on a quiet dead-end street surrounded by mature trees and a peaceful neighborhood setting. Purchased from builder by sellers in 2003, this property has been an exceptional long-term investment with strong appreciation, reliable tenants, and steadily increasing rental income. Each spacious unit offers nearly 1400 sq ft with 3 bedrooms, 2.5 baths, full-size laundry, large primary suites with walk-in closets, private decks, backyards, and oversized 2-car garages, a combination that has made tenant retention remarkably strong. Current tenant in Unit 1 has been extremely reliable and would like to stay. The previous tenant in Unit 2 remained for 9 years. Unit 2 has recently been refreshed with new interior paint, new laminate flooring throughout the main level, new front-load washer and dryer, new water heater, and new range. Unit 2 also features granite countertops, while Unit 1 offers laminate flooring in the kitchen and dining areas. Entire building received a new roof and gutters in 2026. Neighborhood membership includes access to coveted Church Lake Park on Lake Tapps with private picnic areas, playground, + boat launch access, a rare amenity in an area with limited public lake access. Opportunity for either an investor seeking strong rental appeal and upside potential, or an owner-occupant looking to offset mortgage costs with built-in rental income.
Listed by Don J. Karstedt • Rethinking Real Estate LLC
Listing updated: May 23, 2026 at 01:30pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2527663
Around this home
Schools
Ratings via SchoolDigger- School #1077162269Public · Grades PK-5 · 7.2 mi · State rank 52 of 1,0008/10
- School #1958642229Public · Grades 7-9 · 7.5 mi · State rank 92 of 1,0004/10
- School #1135696090Public · Grades 9-12 · 9.1 mi—
Schools shown are the nearest public Elementary, Middle, and High school for this property. School district boundaries change — verify the assigned school with the district before purchasing.
Sold comparable homes
3 recent nearby sales, priced between $460K and $900K.
$899,950Last sold price
4904 N Island Drive, Bonney Lake, WA 98391
$460,000Last sold price
18821 68th Street E, Bonney Lake, WA 98391
$619,500Last sold price
20613 147th Street Ct E #783, Bonney Lake, WA 98391
Property details
Down payment assistance
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
Mortgage payment forecast
$5,440 per month
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Get pre-approvedEstimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
Lifestyle
0.1/10
Car required
Almost all errands need a car
1.5/10
Bike-limited
Few or no bike lanes
Provided by Walk Score
Ask about this home
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Market pulse
Bonney Lake is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Well-priced homes draw multiple offers; others sell close to asking.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 28 days.
Recent sales nearby
Within 1 mile · last 6 months$405,000 Sold
2 weeks ago
•Single Family
6707 W Lake Tapps Highway E, Lake Tapps, WA 98391
10%
Under list
—
Days on market
0.7 mi
Distance
$1,099,950 Sold
3 weeks ago
5 bd•2 ba•~3,421 sq ft•Single Family
21005 67th Street Ct E, Bonney Lake, WA 98391
0%
Over list
—
Days on market
0.5 mi
Distance
$810,000 Sold
8 weeks ago
5 bd•1.5 ba•~2,966 sq ft•Single Family
20705 64th (lot 11) Street E, Bonney Lake, WA 98391
2%
Under list
—
Days on market
0.7 mi
Distance
$1,117,000 Sold
5 months ago
5 bd•2 ba•~3,006 sq ft•Single Family
21004 67th Street Ct E, Bonney Lake, WA 98391
1%
Under list
—
Days on market
0.5 mi
Distance
$680,000 Sold
5 months ago
4 bd•2 ba•~1,734 sq ft•Single Family
19511 Church Lake Road E, Bonney Lake, WA 98391
2%
Under list
—
Days on market
0.9 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data via RentCast · Updated May 2026
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MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of May 29, 2026 at 12:12 PM PDT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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HO
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