PRICE ADJUSTMENT on this Key Bay waterfront home, creating an outstanding opportunity to own 65 feet of sandy, no-bank waterfront with unobstructed lake views. From the street, the home appears smaller than it is, but step inside and discover a surprisingly expansive 4,900+ square feet of thoughtfully designed living space, including a fully finished basement ideal for comfort, entertaining, and refined lake living. The open-concept main level showcases a gourmet kitchen that flows seamlessly into the spacious great room, anchored by an impressive custom river rock double-sided fireplace wall and an expansive deck overlooking the lake. Floor-to-ceiling windows fill the home with warm natural light while capturing stunning views from nearly every room. With 5 bedrooms, including two primary suites—one on each level—plus a dedicated office, the layout offers exceptional flexibility for guests, extended stays, or multigenerational living. Enjoy effortless indoor-outdoor living with an upper deck and covered lower patio that opens to the lawn and beach. Boating enthusiasts will appreciate the shared dock, covered boat lift, and three dedicated buoys. Community amenities include a sandy beach, pool, and park. This is a rare opportunity to own luxury waterfront in one of Lake Chelan’s most peaceful and coveted communities.
Active
Listed by: RE/MAX Advantage
Price cut: $400K (3/31)
$3,500,000
231 Key Lane, Chelan, WA 98816
5beds
4,903sqft
Est.:
Single Family Residence
Built in 1999
8,276.4 Square Feet Lot
$3,224,100 Zestimate®
$714/sqft
$73/mo HOA
What's special
Gourmet kitchenFully finished basementDedicated officeShared dockUnobstructed lake viewsUpper deckFloor to ceiling windows
- 66 days |
- 1,164 |
- 15 |
Zillow last checked: 7 hours ago
Listing updated: March 31, 2026 at 10:43am
Listed by:
Mary Signorelli,
RE/MAX Advantage,
Merry Sterling,
RE/MAX Advantage
Source: NWMLS as distributed by MLS GRID,MLS#: 2472707
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 2
- 3/4 bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 2
- Main level bedrooms: 1
Primary bedroom
- Level: Lower
Primary bedroom
- Level: Main
Bedroom
- Level: Lower
Bedroom
- Level: Lower
Bedroom
- Level: Lower
Bathroom full
- Level: Main
Bathroom full
- Level: Lower
Bathroom three quarter
- Level: Lower
Other
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Great room
- Level: Main
Kitchen with eating space
- Level: Main
Rec room
- Level: Lower
Utility room
- Level: Lower
Heating
- Fireplace, Ductless, Forced Air, Heat Pump, Electric, Propane
Cooling
- Ductless, Forced Air, Heat Pump
Appliances
- Included: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Stove(s)/Range(s), Washer, Dishwasher(s), Dryer(s), Garbage Disposal, Microwave(s), Refrigerator(s), Washer(s), Water Heater: Electric, Water Heater Location: Garage
Features
- Ceiling Fan(s), Dining Room, Pantry
- Flooring: Ceramic Tile, Carpet
- Windows: Dbl Pane/Storm Window
- Basement: Finished
- Number of fireplaces: 2
- Fireplace features: Gas, Main Level: 2, Fireplace
Interior area
- Total structure area: 4,903
- Total interior livable area: 4,903 sqft
Property
Parking
- Total spaces: 6
- Parking features: Attached Garage
- Has attached garage: Yes
- Covered spaces: 2
- Uncovered spaces: 4
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Second Primary Bedroom, Ceiling Fan(s), Dbl Pane/Storm Window, Dining Room, Fireplace, Pantry, Sprinkler System, Vaulted Ceiling(s), Walk-In Closet(s), Water Heater
- Pool features: Community
- Has view: Yes
- View description: Lake, Territorial
- Has water view: Yes
- Water view: Lake
- Waterfront features: Lake, No Bank
- Frontage length: Waterfront Ft: 65
Lot
- Size: 8,276.4 Square Feet
- Features: Cul-De-Sac, Curbs, Paved, Deck, Dock, High Speed Internet, Moorage, Patio, Propane, Sprinkler System
- Topography: Level,Partial Slope
Details
- Parcel number: 272210640039
- Zoning description: Jurisdiction: City
- Special conditions: Standard
- Other equipment: Leased Equipment: No
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story w/Bsmnt.
- Property subtype: Single Family Residence
Materials
- Wood Products
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Very Good
- Year built: 1999
- Major remodel year: 1999
Utilities & green energy
- Electric: Company: Chelan County PUD
- Sewer: Sewer Connected, Company: City of Chelan
- Water: Public, Company: City of Chelan
Community & HOA
Community
- Features: CCRs
- Subdivision: Chelan
HOA
- Services included: Common Area Maintenance
- HOA fee: $880 annually
Location
- Region: Chelan
Financial & listing details
- Price per square foot: $714/sqft
- Tax assessed value: $1,890,368
- Annual tax amount: $13,203
- Date on market: 1/30/2026
- Cumulative days on market: 68 days
- Listing terms: Conventional
- Inclusions: Dishwasher(s), Dryer(s), Garbage Disposal, Leased Equipment, Microwave(s), Refrigerator(s), Stove(s)/Range(s), Washer(s)
Estimated market value
$3,224,100
$3.06M - $3.39M
$4,599/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/31/2026 | Price change | $3,500,000-10.3%$714/sqft |
Source:  NWMLS as distributed by MLS GRID #2472707 Report a problem | ||
| 1/31/2026 | Listed for sale | $3,900,000$795/sqft |
Source: NWMLS as distributed by MLS GRID #2472707 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $13,203 +6.2% | $1,890,368 +2.4% |
| 2023 | $12,429 +5.7% | $1,845,420 +13.1% |
| 2022 | $11,755 -16.8% | $1,631,719 -0.3% |
| 2021 | $14,125 +4.3% | $1,636,024 +8.4% |
| 2020 | $13,544 +6.8% | $1,509,759 +7.5% |
| 2018 | $12,677 -32.1% | $1,404,486 -24.7% |
| 2017 | $18,667 +60.2% | $1,864,840 +21.4% |
| 2016 | $11,655 | $1,535,849 +3.7% |
| 2015 | $11,655 | $1,481,560 +25.3% |
| 2013 | $11,655 | $1,181,961 +11.8% |
| 2012 | -- | $1,057,665 -12.1% |
| 2011 | $12,636 -23.1% | $1,202,707 -15.1% |
| 2010 | $16,423 | $1,416,808 -30.4% |
| 2008 | -- | $2,036,886 +321.6% |
| 2007 | -- | $483,108 |
| 2006 | -- | $483,108 |
Find assessor info on the county website
Monthly payment
Est. payment
$19,154/mo
Principal & interest
$17127
Property taxes
$1954
HOA Fees
$73
More affordability tools
Climate risks
Neighborhood: 98816
Nearby schools
GreatSchools rating
- 4/10Morgen Owings Elementary SchoolGrades: K-5Distance: 2.3 mi
- 6/10Chelan Middle SchoolGrades: 6-8Distance: 2.1 mi
- 6/10Chelan High SchoolGrades: 9-12Distance: 2.1 mi
Local experts in 98816
- Washington
- Chelan County
- Chelan
- 98816
- 231 Key Lane
Nearby cities
Nearby zip codes
Other Chelan Topics
