$895,900
Est. $4,544/mo7418 207th Avenue E, Bonney Lake, WA 98391
• Listed 2026-05-22•8 days on market
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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
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Open Mon, Jun 1 +7
Open Mon, Jun 1 +7
Open Tue, Jun 2 +5
Open Tue, Jun 2 +3
Open Tue, Jun 2 +510:00 AM – 6:00 PM
$510K3 bd · 2.5 ba · 1,395 sqft
16214 205th Avenue Ct E #1127, Bonney Lake, WA 98391
Open Tue, Jun 2 +3
Open Tue, Jun 2 +6
Open Tue, Jun 2 +210:00 AM – 5:30 PM
$665K5 bd · 2.5 ba · 2,335 sqft
20305 162nd St E Street E #1029, Bonney Lake, WA 98391
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
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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 29 days.
$405,000 Sold
3 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
6 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.
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Ask a RexMont agentMarket data via RentCast · Updated Jun 2026
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.