2723 Key Peninsula Highway SW, Lakebay, WA 98349 - Photo 1

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$939,000 Just Listed

For Sale
Active
Single Family
4 Beds
1 Full Bath
1 Partial Bath
2,534 Sq. Ft.
Updated 23 hours ago

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Thursday 4/9 10:00 AM - 1:00 PM

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Listed by Stephanie L. Patrick | RE/MAX Exclusive | (253) 857-3366

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Property Description

Dreaming of country living with endless potential? This picturesque 10-acre hobby farm offers the perfect blend of rustic charm, functionality, and opportunity. The property features pasture for horses, a loafing shed, mini-barn, detached garage, huge pole building/shop, a seasonal duck pond, and a truly special original homestead barn over 100 years old, ready to be restored to its former glory or reimagined as a one-of-a-kind venue for gatherings, barn parties, or harvest celebrations. The inviting Craftsman farmhouse is full of warmth and character, highlighted by a large covered front porch made for sipping lemonade or sweet tea while taking in the peaceful farm setting. Adding to the property's charm is a mature orchard featuring 16 varieties of apples, Asian pears, and plums, creating a beautiful and fruitful extension of the farm lifestyle. Inside, you'll find a main-level primary suite, a charming country kitchen with pot-belly stove, a dining room overlooking the property, plus 3 upstairs bedrooms and an office/bonus room. Whether you're dreaming of animals, gardens, entertaining, workshops, or simply room to roam, this property is rich with possibility.

Full Property Details

Full Property Details for 2723 Key Peninsula Hwy SW

General

Price: $939,000
Taxes: $6,825 (2026)
Status: Active
Type: Single Family
Source: NWMLS
MLS ID: 2499275
Updated: 4/4/2026
Added to Site: 2 day(s) ago

Interior

Interior Features: Bath Off Primary, Ceiling Fan(s), Dbl Pane/Storm Window, Dining Room, Fireplace, Skylight(s), Wet Bar
Fireplace: Yes
Number of Fireplaces: 2
Fireplace(s): Wood Burning
Appliances: Dishwasher(s), Double Oven, Dryer(s), Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Flooring: Ceramic Tile, Hardwood, Vinyl, Carpet

Rooms

Bathrooms

Total Bathrooms: 2
Full Bathrooms: 1
3/4 Bathrooms: 1
Main Floor Baths: 2
Main - 3/4 Baths: 1

Bedrooms

Total Bedrooms: 4
Bedrooms Upper: 3
Bedrooms Main: 1

Additional Information

Amenities: Barn, Cable TV, Deck, Fenced-Partially, Green House, High Speed Internet, Outbuildings, Patio, RV Parking, Shop
Security/Safety: Partially Fenced

Parking

Garage: Yes
Carports: Yes
Covered Spaces: 4
Parking Features: Detached Carport, Driveway, Detached Garage, RV Parking

Location

Area: 4 - Key Peninsula South
County: Pierce
Subdivision: Lakebay
Driving Directions: From KPN: Past Key Center and the town of Home onto KPS -1/2 Mile Past Evergreen Elementary To Farmhouse on left. Sellers had a gun range on the property at one time.

School Information

High School District: Peninsula
Elementary School: Evergreen Elem
Middle School: Key Peninsula Mid
High School: Peninsula High

Heating & Cooling

Air Conditioning: Yes
Cooling Type: Forced Air, Heat Pump
Heating Type: Forced Air, Heat Pump, Stove/Free Standing

Utilities

Sewer: Septic Tank
Water: Individual Well

Structural Information

Structure Type: House
Exterior Const.: Wood, Wood Products
Basement Desc.: None
Foundation: Poured Concrete
Roof: Composition
Entry Location: Main
Square Feet: 2,534
Finished Total: 2,534 Sq. Ft.
Year Built: 1940

Lot Features

Property View: Pond, Territorial
Lot Size (Acres): 10
Lot Size (Sq. Ft.): 435,600
Lot Size Source: Co Assessor
Topography: Equestrian, Level, Rolling
Trees/Vegetation: Fruit Trees, Garden Space, Pasture

Financial Considerations

Tax Amount: $6,825
Tax Year: 2026
Terms: Cash, Conventional, FHA, VA Loan

Disclosures and Reports

Special Conditions: None
Inclusions: Dishwasher(s), Double Oven, Dryer(s), Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Property ID: 20114010

Listed by Stephanie L. Patrick | RE/MAX Exclusive | (253) 857-3366

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Schools

Schools serving 2723 Key Peninsula Hwy SW

School District:Peninsula School District

Name	Grades	Distance
Evergreen Elementary School, Lakebay, WA 1820 Key Peninsula Hwy KPS, Lakebay, WA 98349	PK-5	0.7 mi
Vaughn Elementary School 17521 Hall Road Northwest, Vaughn, WA 98394	PK-5	7.8 mi
Artondale Elementary School 6219 40th Street Northwest, Gig Harbor, WA 98335	PK-5	7.9 mi
Key Peninsula Middle School 5510 Key Peninsula Hwy N, Lakebay, WA 98349	6-8	5.2 mi
Peninsula High School 14105 Purdy Drive, Gig Harbor, WA 98332	9-12	12.5 mi

Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2723 Key Peninsula Hwy SW Get Price Alerts and Save Property

Date

Details

Price

Change

Source

4/03/2026

Listed

$939,000

111.14%

MLS

4/15/2017

Sold

$444,719

—

Public Record

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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 2723 Key Peninsula Hwy SW

Year

Property Taxes

Change

Tax Assessment

Change

2025

$6,424

—

$738,500

2024

$6,399

$709,600

-1%

2023

$6,200

$716,400

28%

2022

$5,668

$561,500

2021

$5,606

$519,300

2020

$5,484

24%

$482,900

16%

2019

$4,426

$414,700

18%

2018

$4,195

12%

$352,000

10%

2017

$3,747

$320,000

12%

2016

$3,542

11%

$284,800

16%

2014

$3,179

—

$245,700

2014

$3,179

—

$244,200

—

View All

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost

Estimate the Cost for 2723 Key Peninsula Hwy SW

2723 Key Peninsula Highway SW, Lakebay, WA 98349 (MLS# 2499275) is a Single Family property with 4 bedrooms, 1 full bathroom and 1 partial bathroom. 2723 Key Peninsula Highway SW is currently listed for $939,000 and was received on April 03, 2026. Want to learn more about 2723 Key Peninsula Highway SW? Do you have questions about finding other Single Family real estate for sale in Lakebay? You can browse all Lakebay real estate or contact a Coldwell Banker agent to request more information.

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2723 Key Peninsula Hwy SW Lakebay, WA 98349