4850 S Spencer Street, Seattle, WA 98118, Seattle, 98118 - 3 bed, 3 bath
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4850 S Spencer Street
Seattle, WA 98118
ACTIVE
CONDITION: GOOD
3Beds
3Baths
1,940Sq Ft
6,000Lot Size
Property Price
LIST PRICE$899,950
EST. MARKET VALUE
$936,556
3% BelowMARKET VALUE
SUMMARY
This updated multi-generational home is a Strong Value Opportunity, listed at $899,950—positioned well below the $936,557 Fair Market Value by 3%. This valuation gap offers $36,607 in Instant Equity for the buyer. With a Condition Rating of 3, the property features a chef's kitchen, dual-fireplace layout, and a private indoor/outdoor kitchen. Located in the desirable Seward Park area, it is an ideal acquisition for Owner-Occupants seeking a turnkey residence or multi-generational families needing flexible living space.
Estimated Market Value
$936,556+$36,606 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Seattle.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 4850 S Spencer Street Subject 3 bd · 3 ba · 1,940 sqft · $483 | $899,950* List Price | 3 | 3 | 1,940 | $483 | - |
A 4858 S Orcas Street Sold 3 bd · 2 ba · 1,755 sqft · $561 · 0.2 mi | $984,500 | 3 | 2 | 1,755 | $561 | 0.2 mi |
B 4903 50th Avenue S Sold 3 bd · 2 ba · 1,800 sqft · $553 · 0.7 mi | $995,000 | 3 | 2 | 1,800 | $553 | 0.7 mi |
C 4707 S Brandon Street Sold 4 bd · 2 ba · 1,820 sqft · $549 · 0.4 mi | $999,000 | 4 | 2 | 1,820 | $549 | 0.4 mi |
D 4631 48th Avenue S Sold 4 bd · 3 ba · 2,320 sqft · $460 · 0.9 mi | $1,068,000 | 4 | 3 | 2,320 | $460 | 0.9 mi |
E 4829 S Kenny Street Sold 3 bd · 2 ba · 1,250 sqft · $588 · 0.1 mi | $735,000 | 3 | 2 | 1,250 | $588 | 0.1 mi |
F 3933 S Mead Street Sold 5 bd · 2 ba · 2,150 sqft · $358 · 0.6 mi | $770,000 | 5 | 2 | 2,150 | $358 | 0.6 mi |
G 4525 47th Avenue S Sold 3 bd · 3 ba · 2,210 sqft · $452 · 1.0 mi | $999,000 | 3 | 3 | 2,210 | $452 | 1.0 mi |
H 4821 S Brandon Street Pending 4 bd · 3 ba · 1,906 sqft · $514 · 0.4 mi | $979,999 List Price | 4 | 3 | 1,906 | $514 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1961, the home has undergone significant renovations. The kitchen features modern stainless steel appliances and stone countertops, the bathrooms are updated and clean, and the overall property is well-maintained and move-in ready.
PROSSTRENGTHS & OPPORTUNITIES
- Multi-Generational Layout
The lower level is thoughtfully designed for multi-generational living or guest privacy, featuring a family room with a second fireplace, built-in cabinetry with a sink, and a stylish updated 3/4 bath.
- Superior Entertaining Spaces
The property excels in hosting capacity with an open-concept chef's kitchen, a back deck with retractable awnings, and a unique indoor/outdoor kitchen on the private patio.
- Prime Seward Park Location
Situated in a highly sought-after community, this home offers a perfect balance of privacy and convenience, located just moments from Lake Washington, lush parks, and local dining.
CONSRISKS & DEFICIENCIES
- Inconsistent School Ratings
While some nearby schools perform well, the property is zoned for several institutions with lower performance ratings, which may be a concern for education-focused buyers.
- Limited View Profile
Although the home offers outdoor living, the Seattle skyline view is described as 'peek-a-boo,' which may not satisfy buyers looking for the expansive vistas often expected in this price point.
About 4850 S Spencer Street
Welcome to this beautifully updated two-story home in the highly sought after Seward Park community. Ideally situated near Lake Washington, parks & trails, this home offers the perfect balance of privacy & convenience. The light-filled living room features a cozy gas fireplace & flows seamlessly into the open-concept dinning area & chef's kitchen. Designed for entertaining & everyday living with SS appliances, direct access to the back deck with a retractable awnings and a peek a boo view of Seattle skylights. The updated primary bedroom features a Jacuzzi bath and a dual sinks. The lower level is ideal for multi-generational living offering cozy family room with another gas fireplace, built-in cabinetry & sink, spacious flex area/bonus room & a updated stylish 3/4 bath. The private back patio has an indoor/outdoor kitchen creates the perfect space for relaxing or entertaining, surrounded by lush greenery in a peaceful, secluded setting. The home is conveniently located near many restaurants and shops.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1961
- Lot Size
- 6,000 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Seattle Unified Schools
Graham Hill Elementary School
Grades PK-5 • 0.2 mi
6/10
Hawthorne Elementary School
Grades PK-5 • 1.4 mi
5/10
John Muir Elementary School
Grades K-5 • 2.0 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,940 | 1,801.924 |
| Lot Size | 6,000 | 4,494.536 |
| Price | $900.0K | $974.4K |
| Price per sq ft | $464 | $569 |
| Built year | 1961 | 1948 |
| HOA | $0 | $78 |
| Days on market | 36 | 35 |
Pricing History
Listed for Sale
Sep 18, 2026
$899,950
Initial Listing