Sold259d on market
5438 E Mercer Way
Mercer Island, WA, 98040 • 98040 • King County
$4,800,000
$1280/sqft
5Beds
4Baths
3,750Sqft
0.58 acLot
1960Built
Property DNA
Waterfront Property
Low Bank, Bulkhead, Lake
Scenic Views
Lake · Territorial
Modern Style
Built 1960 · 66 years of history
East Mercer
98040
Outdoor Living
Bath Off Primary · Double Pane/Storm Window · Dining Room · Fireplace · French Doors · Skylight(s) · Sprinkler System · Water Heater
3 Fireplaces
Wood Burning · Lower Level: 1 · Main Level: 2 · Fireplace
Ceramic Tile & Hardwood Floors
Quality flooring throughout
This home is getting attention
Listed 259 days ago · 43 views
Market activity
Demand and pricing signals for this listing
43 views
People checking out this listing
259 days on market
Established listing
$1,280/sqft
Price per square foot
Selling Soon Prediction
HighThis home ranks in the top 14% of listings most likely to go under contract soon, based on market activity and demand signals.
Likelihood score
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About this home
Single Family · Built 1960
Discover unparalleled lakeside living with this refreshed contemporary home, perfectly positioned on a sprawling 0.58-acre lot with 85 feet of low-bank lake frontage and a private dock. Every room in this 5-bedroom, 3.5-bathroom home offers breathtaking views of the serene lake, seamlessly blending modern design with nature's beauty. Wake up to panoramic views of Mt. Rainier and enjoy the tranquility of the water right at your doorstep. Every detail is designed to bring the outdoors in. Nestled in a community renowned for its excellent schools, this home is not just a residence but a lifestyle. A peaceful retreat ready to be enjoyed while offering incredible potential for expansion, to transform it into your forever home.
Standout features identified
Our analysis highlights modern design and private dock as key attractions of this home.
Estimated monthly payment
Based on current rates
$29,889/month
Principal & Interest$23,489
Property Tax$4,800
Insurance$1,600
Down payment20% ($960,000)
3%50%
Est. 6.19% rate · 30yr fixed · $3,840,000 loan
Full calculator →At a glance
Key facts and listing details
TypeSingle Family Residence
Year Built1960
HeatingFireplace, Forced Air, Natural Gas
CoolingNone
Parking3 Carport spaces
Lot0.58 Acres
Offer Review Date2025-06-23
Property
Home typeSingle Family
Sub-typeSingle Family Residence
StyleModern
ConditionUpdated/Remodeled
Year built1960
Stories2
Systems
HeatingFireplace, Forced Air, Natural Gas
CoolingNone
RoofTorch Down
ConstructionCement/Concrete, Wood Siding
Water / SewerPublic, Company: City of Mercer Island / Sewer Connected, Company: City of Mercer Island
Parking & Outdoor
ParkingDetached Carport
BasementDaylight,Finished
Fireplaces3
Lot0.58 Acres
Location & Tax
Neighborhood98040
ZoningR15
Annual tax$30,792
Parcel1924059149
Bathrooms & Fees
Full baths2
Features & details
12 categories of property features
Interior Features
Interior
Bath Off Primary
Dining Room
Appliances
Dishwasher(s)
Disposal
Double Oven
Dryer(s)
Refrigerator(s)
Stove(s)/Range(s)
Washer(s)
Garbage Disposal
Water Heater: Gas
Water Heater Location: Utility room
Flooring
Ceramic Tile
Hardwood
See Remarks
Heating
Fireplace
Forced Air
Natural Gas
Cooling
None
Fireplace
Wood Burning
Lower Level: 1
Main Level: 2
Fireplace
Windows
Double Pane/Storm Window
Skylight(s)
Exterior Features
Parking
Detached Carport
Construction
Cement/Concrete
Wood Siding
Patio & Porch
Bath Off Primary
Double Pane/Storm Window
Dining Room
Fireplace
French Doors
Skylight(s)
Sprinkler System
Water Heater
Lot Features
Dead End Street
Paved
Cable TV
Deck
Dock
Gas Available
High Speed Internet
Moorage
Patio
Sprinkler System
Views
Lake
Territorial
Room details
16 rooms detailed
Master Bedroom
Bedroom
Bedroom
Bedroom
Bedroom
LowerBathroom Full
Listing insights
Market data and value estimates
StatusSold
Days on market259
Est. value$4,832,600
Est. rent$6,949/mo
Tax rate0.82%
Price/sqft$1280
On marketOct 19, 2024
PostedJun 16, 2025
Last sold$4,800,000
MLS statusSold
MLS updatedAug 21, 2025
Tour days6
Views43
How are the schools in Mercer Island?
3 schools rated nearby
Location
Mercer Island, WA, 98040
Price history
25 events
DateEventPrice$/sqftSource
Jul 21, 2025Sold$4,800,000$1,280NWMLS as distributed by MLS GRID
Jun 24, 2025Pending Sale$4,999,900$1,333NWMLS as distributed by MLS GRID
Jun 16, 2025Listed For Sale$4,999,900$1,333NWMLS as distributed by MLS GRID
Jun 16, 2025Listing Removed$5,491,000$1,464Realogics Sothebys International Realty
May 10, 2025Listed For Sale$5,491,000$1,464Realogics Sothebys International Realty
May 9, 2025Listing Removed$5,780,000$1,541Realogics Sothebys International Realty
Mar 21, 2025Price Change$5,780,000$1,541Realogics Sothebys International Realty
Aug 23, 2024Listed For Sale$5,980,000$1,595Realogics Sothebys International Realty
Aug 2, 2024Listing Removed——Zillow Rentals
Jul 17, 2024Price Change$9,000$2Zillow Rentals
May 30, 2024Price Change$9,500$3Zillow Rentals
May 3, 2024Listed For Rent$10,250$3Zillow Rentals
Apr 16, 2021Listing Removed——Zillow Rental Network Premium
Apr 5, 2021Listed For Rent$9,500$3Zillow Rental Network Premium
Jan 18, 2020Listing Removed$7,500$2TAG Property Management
Jan 17, 2020Price Change$7,000$2TAG Property Management
Nov 1, 2019Listed For Rent$7,500$2TAG Property Management
Sep 30, 2019Listing Removed$3,798,000$1,013Lake & Company
Sep 30, 2019Listed For Sale$3,798,000$1,013Lake & Company
Sep 27, 2019Sold$3,618,000$965NWMLS as distributed by MLS GRID
Sep 6, 2019Pending Sale$3,798,000$1,013Lake & Company
Jul 30, 2019Price Change$3,798,000$1,013Lake & Company
Jun 22, 2019Price Change$3,895,000$1,039Lake & Company
May 22, 2019Price Change$3,980,000$1,061Lake & Company
Mar 26, 2019Listed For Sale$4,095,000$1,092Lake & Company
Sold$4,800,000
Jul 21, 2025•$1,280/sqft•NWMLS as distributed by MLS GRID
Pending Sale$4,999,900
Jun 24, 2025•$1,333/sqft•NWMLS as distributed by MLS GRID
Listed For Sale$4,999,900
Jun 16, 2025•$1,333/sqft•NWMLS as distributed by MLS GRID
Listing Removed$5,491,000
Jun 16, 2025•$1,464/sqft•Realogics Sothebys International Realty
Listed For Sale$5,491,000
May 10, 2025•$1,464/sqft•Realogics Sothebys International Realty
Listing Removed$5,780,000
May 9, 2025•$1,541/sqft•Realogics Sothebys International Realty
Price Change$5,780,000
Mar 21, 2025•$1,541/sqft•Realogics Sothebys International Realty
Listed For Sale$5,980,000
Aug 23, 2024•$1,595/sqft•Realogics Sothebys International Realty
Listing Removed—
Aug 2, 2024•Zillow Rentals
Price Change$9,000
Jul 17, 2024•$2/sqft•Zillow Rentals
Price Change$9,500
May 30, 2024•$3/sqft•Zillow Rentals
Listed For Rent$10,250
May 3, 2024•$3/sqft•Zillow Rentals
Listing Removed—
Apr 16, 2021•Zillow Rental Network Premium
Listed For Rent$9,500
Apr 5, 2021•$3/sqft•Zillow Rental Network Premium
Listing Removed$7,500
Jan 18, 2020•$2/sqft•TAG Property Management
Price Change$7,000
Jan 17, 2020•$2/sqft•TAG Property Management
Listed For Rent$7,500
Nov 1, 2019•$2/sqft•TAG Property Management
Listing Removed$3,798,000
Sep 30, 2019•$1,013/sqft•Lake & Company
Listed For Sale$3,798,000
Sep 30, 2019•$1,013/sqft•Lake & Company
Sold$3,618,000
Sep 27, 2019•$965/sqft•NWMLS as distributed by MLS GRID
Pending Sale$3,798,000
Sep 6, 2019•$1,013/sqft•Lake & Company
Price Change$3,798,000
Jul 30, 2019•$1,013/sqft•Lake & Company
Price Change$3,895,000
Jun 22, 2019•$1,039/sqft•Lake & Company
Price Change$3,980,000
May 22, 2019•$1,061/sqft•Lake & Company
Listed For Sale$4,095,000
Mar 26, 2019•$1,092/sqft•Lake & Company
Tax history
21 years of records
YearTax paidAssessed value
Apr 7, 2024$27,909$4,262,000
Apr 7, 2023$30,792$4,473,000
Apr 7, 2022$30,676$5,002,000
Apr 7, 2021$26,833$3,644,000
Apr 7, 2020$25,757$3,218,000
Apr 7, 2019$26,192$3,316,000
Apr 7, 2018$25,592$3,406,000
Apr 7, 2017$28,523$3,288,000
Apr 7, 2016$21,586$2,960,000
Apr 7, 2015$21,586$2,681,000
Apr 7, 2014$21,586$2,468,000
Apr 7, 2013$21,586$2,518,000
Apr 7, 2012—$2,322,000
Apr 7, 2011—$2,439,000
Apr 7, 2010—$2,630,000
Apr 7, 2009—$2,630,000
Apr 7, 2007—$2,152,000
Apr 7, 2006—$1,800,000
Apr 7, 2005—$1,639,000
Apr 7, 2001$12,472$1,305,000
Apr 7, 2000$11,481$1,088,000
Nearby homes
Neighborhood details
Local context around this listing
Mercer Island, WA • King County
Nearby cities
AuburnBellevueBothellFederal WayKentKirklandRedmondRenton
Nearby zip codes
98040
Similar homes
Based on information submitted to the MLS GRID as of 2026-04-07 08:33:35 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)
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