diff --git a/src/ape/api/accounts.py b/src/ape/api/accounts.py
index 482ba084f9..cb89480ff6 100644
--- a/src/ape/api/accounts.py
+++ b/src/ape/api/accounts.py
@@ -281,6 +281,7 @@ def deploy(
             self.project_manager.track_deployment(instance)
             self.provider.network.publish_contract(address)
 
+        instance.base_path = contract.base_path or self.project_manager.contracts_folder
         return instance
 
     def declare(self, contract: "ContractContainer", *args, **kwargs) -> ReceiptAPI:
diff --git a/src/ape/contracts/base.py b/src/ape/contracts/base.py
index beaa91db8c..85617aa392 100644
--- a/src/ape/contracts/base.py
+++ b/src/ape/contracts/base.py
@@ -730,6 +730,7 @@ def poll_logs(
 
 class ContractTypeWrapper(ManagerAccessMixin):
     contract_type: ContractType
+    base_path: Optional[Path] = None
 
     @property
     def selector_identifiers(self) -> Dict[str, str]:
@@ -747,7 +748,7 @@ def identifier_lookup(self) -> Dict[str, ABI_W_SELECTOR_T]:
         """
         return self.contract_type.identifier_lookup
 
-    @cached_property
+    @property
     def source_path(self) -> Optional[Path]:
         """
         Returns the path to the local contract if determined that this container
@@ -757,23 +758,12 @@ def source_path(self) -> Optional[Path]:
         source ID as one in the current project. That does not necessarily mean
         they are the same contract, however.
         """
-        contract_name = self.contract_type.name
-        source_id = self.contract_type.source_id
-        if not (contract_name and source_id):
+        if not (source_id := self.contract_type.source_id):
             return None
 
-        contract_container = self.project_manager._get_contract(contract_name)
-        if not (
-            contract_container
-            and contract_container.contract_type.source_id
-            and self.contract_type.source_id
-        ):
-            return None
-
-        if source_id == contract_container.contract_type.source_id:
-            return self.project_manager.contracts_folder / source_id
-        else:
-            return None
+        base = self.base_path or self.project_manager.contracts_folder
+        path = base / source_id
+        return path if path.is_file() else None
 
     def decode_input(self, calldata: bytes) -> Tuple[str, Dict[str, Any]]:
         """
@@ -1420,6 +1410,7 @@ def deploy(self, *args, publish: bool = False, **kwargs) -> ContractInstance:
             self.project_manager.track_deployment(instance)
             self.provider.network.publish_contract(address)
 
+        instance.base_path = self.base_path or self.project_manager.contracts_folder
         return instance
 
     def _cache_wrap(self, function: Callable) -> ReceiptAPI:
diff --git a/tests/functional/test_contract_container.py b/tests/functional/test_contract_container.py
index c49e8d0825..d415591689 100644
--- a/tests/functional/test_contract_container.py
+++ b/tests/functional/test_contract_container.py
@@ -125,7 +125,7 @@ def test_source_path_in_project(project_with_contract):
     contract = project_with_contract.contracts["Contract"]
     contract_container = project_with_contract.get_contract("Contract")
     expected = contracts_folder / contract.source_id
-
+    assert contract_container.source_path is not None
     assert contract_container.source_path.is_file()
     assert contract_container.source_path == expected