507 E Wapato Avenue, Chelan, WA, 98816
About This Home
Opportunity awaits in the heart of Lake Chelan! Extensively renovated with a studs-out remodel in 2022 and over $225,000 invested in upgrades, this turnkey property offers a perfect blend of modern comfort, prime location, & income-producing potential. Just blocks from the lake & downtown, this home is ideally positioned as either a full-time residence, vacation retreat, or high-performing short-term rental. This spacious 5 bedroom 2,460-square-foot home features a fully fenced & shaded front yard creating a welcoming outdoor retreat, while the private back patio is designed for entertaining with covered dining, sectional seating around a firepit, and detached storage shed. Inside, nearly every surface & system has been updated, including flooring, appliances, bathrooms, HVAC (AC!), electrical, plumbing, windows, and more. The living room is anchored by a charming bay window framing beautiful mountain views an expansive dining area comfortably seating 10 guests, 3 bedrooms & a tiled bath with radiant flooring. Two light-filled oversized bedrooms upstairs sharing a full bath. A massive unfinished attic presents potential for future expansion — a bunk room or play area. Thoughtfully redesigned, this move-in-ready property offers flexibility, charm, & proven rental performance in one of Washington’s most sought-after vacation destinations. Inspection report & rental statements available. Schedule a private tour today!
Getting Around
Somewhat Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Property condition: Very Good
- Year built: 1937
Materials
- Foundation: Poured Concrete
- Roof: Composition
- Construction materials: Wood Siding
Notable Dates
- Major remodel year: 2022
Type & Style
- Home type: SingleFamily
- Architectural style: 2 Story
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Dishwasher,Microwave,Refrigerator,Stove(s)/Range(s),Washer,Dishwasher(s),Microwave(s),Refrigerator(s),Washer(s),Water Heater: Electric,Water Heater Location: Basement
Basement
- Has basement: Yes
- Basement: Unfinished
Bathroom Full
- Level: Second
Bathroom Three Quarter
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Second
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 4
Features
- Dining Room
- Window features: Dbl Pane/Storm Window
- Flooring: Ceramic Tile,Laminate,Carpet
Heating & Cooling
- Heating features: Forced Air,Heat Pump,Radiant,Electric
- Cooling features: Ductless,Forced Air,Heat Pump
Interior Area
- Total structure area: 2,460
- Total interior livable area: 2,460 sqft
Kitchen Without Eating Space
- Level: Main
Living Room
- Level: Main
Master Bedroom
- Level: Main
Utility Room
- Level: Main
Property
Details
- Parcel number: 272213512538
- Zoning description: Jurisdiction: City
- Special condition: Standard
Features
- Levels: Two
- Stories: 2
- Entry location: Main
- Patio & porch: Dbl Pane/Storm Window,Dining Room,Sprinkler System,Water Heater
- Has view: Yes
- View description: Mountain(s)
- Topography of land: Level
- Residential vegetation: Garden Space
Lot
- Lot size: 4,356 sqft
- Features: Paved,Cable TV,Fenced-Fully,High Speed Internet,Outbuildings,Outdoor Fireplace,Patio,Sprinkler System
Parking
- Total spaces: 5
- Parking features: Detached Carport,Driveway
- Covered spaces: 1
- Uncovered spaces: 4
- Carport: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Wildfire
- Avalanche
- Inland Flooding
- Lightning
- Cold Wave
- Earthquake
- Hail
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Chelan County and Washington
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,463 | $41,556 |
| Home Insurance * | $210 | $2,520 |
| Property Taxes | $379 | $4,548 |
| Electricity | $168 | $2,019 |
| Total | $4,220 | $50,640 |
Income You'd Need if You Spent...
Washington FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-01 | Price change | $685,000 |
| 2026-06-15 | Listed for sale | $699,000 |
| 2026-06-07 | Pending sale | $699,000 |
| 2026-05-29 | Listed for sale | $699,000 |
| 2021-08-27 | Sold | $405,000 |
| 2021-06-14 | Pending sale | $427,000 |
| 2021-06-08 | Listed for sale | $427,000 |
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