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3131 S 368th StreetFederal Way, WA 98003

For Sale

$650,000

Smart Buyer Rebate $6,500

Welcome to this beautifully updated 4-bedroom, 2.5-bath home nestled on a spacious corner lot in a highly sought-after neighborhood. Surrounded by mature trees, this residence offers an inviting blend of indoor and outdoor living. Step inside to soaring vaulted ceilings and a cozy wood burning fireplace in the expansive living room, where large windows fill the space with natural light. The gourmet kitchen is a chef’s delight, featuring rich wood cabinetry with soft close drawers, granite countertops, stainless steel appliances, and a large island with seating that seamlessly connects to the dining area. Adjacent family room provides flexible space for relaxing or entertaining. Retreat to the primary suite with double closets, private ensuite, and direct access to the beautiful back deck. Three generously sized additional bedrooms can also be used for a home office, or hobbies. There is also a bonus/flex room. Enjoy laminate hardwood floors, designer fixtures, energy-efficient windows, and a newly insulated crawl space and attic. Outside, a huge backyard deck is perfect for gatherings, complemented by a fully fenced yard and oversized two-car detached garage/shop. Upgrades include AC, tankless water heater, and an enhanced electrical panel. Conveniently located near schools, shopping, restaurants, and easy freeway access. Don’t miss out on this exceptional opportunity to call this remarkable property your home!

Listed by Lisa Williams

·

Person Real Estate Group LLC

Last updated April 30, 2026

·

Source: NWMLS #2507748

Listing Facts

  • TypeSingle-family
  • NeighborhoodLakeland South
  • Bedrooms4
  • Bathrooms3
  • Days on Prevu14
  • Taxes$6,439/year
  • Size2,110 sqft
  • Price per sqft$308

Amenities

  • Pets Allowed
  • Air Conditioning
  • Parking

Location

Mortgage Calculator

Listing History

04/30/2026
Price Decreased
$650,000
04/16/2026
Listed by Person Real Estate Group LLC
$664,950

Property Details for 3131 S 368th Street

Exterior

Construction

  • Property Condition: Very Good
  • Roof: Composition
  • Structure Type: House
  • Year Built: 1940
  • Construction Materials: Wood
  • Entry Location: Main
  • Exterior Features: Wood

Features

  • Direction Faces: East
  • View: Territorial

Measurements

  • Building Area Total: 2,110
  • Building Area Units: Square Feet
  • Lot Features: Corner Lot, Paved
  • Lot Size Acres: 0.28
  • Lot Size Square Feet: 12,540
  • Lot Size Units: Square Feet

Financial

Taxes

  • Parcel Number: 3321049046
  • Tax Annual Amount: $6,439.00
  • Tax Year: 2025

Interior

Features

  • Fireplace Features: Wood Burning
  • Fireplace: Yes
  • Fireplaces Total: 1
  • Interior Features: Bath Off Primary, Dbl Pane/Storm Window, Fireplace, High Tech Cabling, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater

Measurements

  • Living Area: 2,110

Rooms

  • Bathrooms Full: 1
  • Bathrooms Half: 1
  • Bathrooms Three Quarter: 1
  • Bathrooms Total Integer: 3
  • Bedrooms Total: 4
  • Main Level Bathrooms: 3
  • Main Level Bedrooms: 4

Other

Location

  • Subdivision Name: 5 Mile Lake

Parking

Parking

  • Covered Spaces: 2
  • Garage: Yes
  • Parking Features: Detached Garage, RV Parking
  • Parking Total: 4

Schools

Elementary School

  • Elementary School: Rainier View Elem

High School

  • High School: Buyer To Verify
  • High School District: Federal Way

Middle or Junior School

  • Middle Or Junior School: Buyer To Verify

Utilities

Equipment

  • Has Cooling: Yes
  • Has Heating: Yes
  • Sewer: Septic Tank
  • Water Source: Public

Frequently Asked Questions

How many bedrooms and bathrooms does this single-family home have?

There are 4 bedrooms and 3 bathrooms in this single-family home at 3131 S 368th Street.

What schools are nearby to 3131 S 368th Street?

Nearby schools include the Rainier View Elem Elementary School, Buyer To Verify Middle School, and Buyer To Verify High School.

Does this single-family home have parking?

Yes, there are 4 parking spaces available for 3131 S 368th Street.

What are the annual taxes for 3131 S 368th Street?

Annual taxes for this single-family home are estimated at $6,439.

How does 3131 S 368th Street compare to other single-family homes in Lakeland South?

This single-family home is listed 25% below the average price for single-family homes in Lakeland South and has been on the market for 33 less days than the typical home in this area.

What is the square footage on this single-family home?

According to the MLS, this listing is 2,110 sqft.

3131 S 368th Street is a 4-bedroom, 3-bath single-family home for sale in Federal Way WA 98003. Listed on Prevu for 14 days at $650,000. This includes a recent price decrease of $14,950. This property features 2,110 square feet of living space, located in Lakeland South. The median listing price for single-family homes in this area is $742,850. Nearby schools include Rainier View Elem Elementary School, Buyer To Verify Middle School, and Buyer To Verify High School. Property amenities include pets allowed, air conditioning, and parking. Explore more single-family home listings in King County.

Based on information from NWMLS and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by Prevu or the MLS. Information is provided exclusively for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.