Rare Lake Stevens development & investment opportunity! An existing home with substantial unfinished space and multiple potential development paths makes this property especially compelling. The 2004-built home features a new roof installed in 2024, an open main living area, primary and guest bedrooms on the main level, and an additional bedroom and bath downstairs. More value potential available in easy home updates. Approximately 1,200 sq ft of unfinished daylight basement provides an opportunity to expand the home's finished living space and/or potentially create ADU space. The property also offers potential for additional development, including a single-family residence, detached ADU or duplex. A large waterproof deck provides covered outdoor space below, and a separate sun/potting room adds even more versatility. Tucked away beside Catherine Creek with mature vegetation and exceptional privacy, this property offers a unique combination of an existing residence, expansion potential and future development possibilities.
Old Town, located between Lake Stevens and the Snohomish River valley, is a historic and lakeside Lake Stevens neighborhood with a walkable main drag and shoreline views. The neighborhood’s character concentrates around the Lake Stevens Boulevard SE and Main Street intersection, where small storefronts, coffee counters, and local services set a steady, day-to-day rhythm. Architectural cues lean toward older, modest homes and updated cottages, with pockets of newer infill near key corridors. Lake access and nearby parks shape an outdoors-forward routine, from shoreline strolls to boat launches. Community life often routes through local gathering spots such as The Buzz Inn Steakhouse, Lake Stevens Brewing Company, and the Lake Stevens Historical Society Museum. The geography keeps the lake as a constant reference point, with streets that rise and dip toward water and open sky.
Provided by Walk Score and Local Logic
Offer insights
2821 Grade Rd · $750,000
$750K and above
75% chance or better to win
Why $750K+ is a strong offer
SALE-TO-LIST
99.1%
Most homes are selling 1% below list price.
LIST PRICE
$750,000
Median list price in this area is $765,995. (2% higher than this home)
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Fireplace (gas)
Water heater
Bedrooms
3 bedrooms total — 2 on the main level, 1 on the lower level
Bathrooms
3 full bathrooms, 1 half bathroom
Main level contains 3 bathrooms (2 full, 1 half); lower level includes 1 full bathroom
Kitchen
Dishwasher
Garbage disposal
Microwave
Refrigerator
Stove/Range
Laundry & utility
Washer
Dryer
Water heater located in storage room
Flooring
Hardwood
Carpet
Heating & cooling
Forced air heating
Forced air cooling
Natural gas energy source
Exterior features
Deck
Cable TV available
Curbs, paved driveway, and sidewalks
Level lot
Home design
Single-family residence
One story with basement
Built on lot
Faces west
Parking
Attached garage (garage present)
Covered parking for 2 vehicles
5 uncovered parking spaces
Driveway and off-street parking
Construction
Built in 2004 (effective year)
Cement plank and wood exterior
Composition roof
Poured concrete foundation
Utilities
Public water (City of Lake Stevens)
Sewer connected (City of Lake Stevens)
Power via PUD
Cable and internet (Xfinity)
Gas water heater
Financial info
Listing terms: Cash, Conventional, See remarks
Other
Property condition: Good
Lot shows value in land
Site features include deck
Electricity and solar
View estimated energy costs and solar savings for this home
The R4 Single-Family district is designed primarily to accommodate single-family detached residential uses and at medium densities of four to five dwelling units per net buildable acre with the potential of some density bonuses. Some types of attached and accessory residences may be allowed.
Permitted uses
Include but are not limited to:
Healthcare
Housing-Single unit
Housing-Multiple units
Communications tower
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
2/10 Heat Factor
7 days above 86° expected this year, 18 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
6/10 Air Factor
9 unhealthy days expected this year, 10 days in 30 years
Provided by First Street
Historical weather
Lake Stevens, WA • 98258
Average low and high temperatures (°F)
46
33
47
34
53
38
60
40
65
46
71
50
76
53
77
56
72
52
59
44
51
41
48
39
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
92/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 29% for direct sun exposure in Lake Stevens. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
11 hrs
5.4 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 2821 Grade Rd
$743,304
$6,696 under list price of $750K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $660K to $850K.