5017 SW Grayson Street, Seattle, WA 98116, Seattle, 98116 - 2 bed, 2 bath
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5017 SW Grayson Street
Seattle, WA 98116
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,140Sq Ft
5,500Lot Size
Property Price
LIST PRICE$925,000
EST. MARKET VALUE
$869,248
6% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $975,000—positioned well above the $882,521 Fair Market Value by -10%. Featuring a Condition Rating of 4, the home offers significant value-add potential through modernization of the 1922 galley kitchen and basement. With a 5,500 sqft lot and separate lower-level entrance, the property is ideal for Buy-and-Hold Investors or Owner-Occupants looking to leverage ADU/DADU development potential in the highly walkable North Admiral neighborhood near top-rated schools.
Estimated Market Value
$869,248
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 |
|---|---|---|---|---|---|---|
★ 5017 SW Grayson Street Subject | $925,000* List Price | 2 | 2 | 1,140 | $762 | - |
A 3228 39th Avenue SW Sold | $877,000 | 2 | 2 | 1,180 | $743 | 0.8 mi |
B 2313 47th Avenue SW Sold | $940,000 | 2 | 2 | 1,450 | $648 | 0.2 mi |
C 2715 50th Avenue SW Active | $725,000 List Price | 2 | 1 | 694 | $1,045 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1922, the home is well-maintained but features original cabinetry and dated finishes that exceed the 20-year threshold for modern updates. While functional and pre-inspected, the galley kitchen and basement systems reflect an older era, requiring cosmetic and likely mechanical modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Prime North Admiral Location
Situated in one of West Seattle's most desirable pockets, this home offers exceptional walkability to Alki Beach, Metropolitan Market, and top-rated schools like Lafayette Elementary.
- Exceptional Parking and Storage
Rare for this urban density, the property features a spacious two-car garage with shop space, multiple storage sheds, and off-street parking for up to six vehicles.
- Development and Income Potential
The 5,500 sqft lot and lower level with a separate entrance provide a clear path for ADU/DADU development or a potential rental suite to offset mortgage costs.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1140, other record living area = 860.
- Limited Finished Square Footage
At 1,140 square feet for a near-million dollar price point, the home may feel compact for families or buyers accustomed to larger modern floor plans.
- Dated Kitchen and Cabinetry
The galley kitchen features original cabinetry from 1922, which likely requires a significant capital investment to meet contemporary functional and aesthetic standards.
About 5017 SW Grayson Street
$50k price adjustment! Welcome to 5017 SW Grayson St, a well-maintained home in the sought-after North Admiral neighborhood with convenient access to Metropolitan Market, local dining, shopping, parks, and Alki Beach. Inside, the spacious living room is centered around a classic brick fireplace, while the dedicated dining room showcases an original built-in hutch that adds timeless character. The galley kitchen features original cabinetry with abundant storage. The main level offers 2 bedrooms/office space and 1.75 baths. The lower level expands the possibilities with a bonus room, laundry area, and separate entrance, creating additional space for hobbies, recreation, or extended use. Outside, mature landscaping surrounds the property, complemented by outstanding parking and storage with room for up to six vehicles, a spacious two-car garage with shop space, and multiple storage sheds. Seller pre-inspected for added confidence. Explore the potential for an ADU or DADU (buyer to verify) and enjoy an exceptional opportunity to own a home in one of West Seattle's most desirable locations. Mortgage savings may be available for buyers of this listing. Seller pre-inspection available. Square footage does not include the primary suite.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1922
- Lot Size
- 5,500 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Seattle Unified Schools
Lafayette Elementary School
Grades PK-5 • 0.4 mi
8/10
Alki Elementary School
Grades PK-5 • 0.6 mi
8/10
Genesee Hill Elementary School
Grades K-5 • 1.0 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,140 | 1,803.474 |
| Lot Size | 5,500 | 4,544.116 |
| Price | $925.0K | $978.6K |
| Price per sq ft | $811 | $570 |
| Built year | 1922 | 1949 |
| HOA | $0 | $68 |
| Days on market | 34 | 36 |
Pricing History
Listed for Sale
Aug 25, 2026
$925,000
$975,000
-5% Price Drop
Initial Listing
Price Change
Aug 6, 2026
$975,000
Initial Listing