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.
Sold
Listed by: Realogics Sotheby's Int'l Rlty
Bought with: Windermere Real Estate/East
$4,800,000
5438 E Mercer Way, Mercer Island, WA 98040
5beds
3,750sqft
Single Family Residence
Built in 1960
0.58 Acres Lot
$4,661,700 Zestimate®
$1,280/sqft
$7,441 Estimated rent
Home value
$4,661,700
$4.29M - $5.08M
$7,441/mo
Zestimate® history
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Modern designPrivate dock
Zillow last checked:
Listing updated:
Offers reviewed: Jun 23
Listed by:
Hui Yu,
Realogics Sotheby's Int'l Rlty
Bought with:
Joan C. Bayley, 38768
Windermere Real Estate/East
Source: NWMLS as distributed by MLS GRID,MLS#: 2393404
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 2
- 3/4 bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 1
Bedroom
- Level: Lower
Bathroom three quarter
- Level: Lower
Other
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Family room
- Level: Main
Kitchen with eating space
- Level: Main
Living room
- Level: Main
Rec room
- Level: Lower
Utility room
- Level: Lower
Heating
- Fireplace, Forced Air, Natural Gas
Cooling
- None
Appliances
- Included: 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
Features
- Bath Off Primary, Dining Room
- Flooring: Ceramic Tile, Hardwood, See Remarks
- Doors: French Doors
- Windows: Double Pane/Storm Window, Skylight(s)
- Basement: Daylight,Finished
- Number of fireplaces: 3
- Fireplace features: Wood Burning, Lower Level: 1, Main Level: 2, Fireplace
Interior area
- Total structure area: 3,750
- Total interior livable area: 3,750 sqft
Property
Parking
- Total spaces: 3
- Parking features: Detached Carport
- Carport spaces: 3
Features
- Levels: Two
- Stories: 2
- Entry location: Main
- Patio & porch: Bath Off Primary, Double Pane/Storm Window, Dining Room, Fireplace, French Doors, Skylight(s), Sprinkler System, Water Heater
- Has view: Yes
- View description: Lake, Territorial
- Has water view: Yes
- Water view: Lake
- Waterfront features: Low Bank, Bulkhead, Lake
- Frontage length: Waterfront Ft: 85
Lot
- Size: 0.58 Acres
- Features: Dead End Street, Paved, Cable TV, Deck, Dock, Gas Available, High Speed Internet, Moorage, Patio, Sprinkler System
- Topography: Level,Partial Slope
- Residential vegetation: Fruit Trees, Garden Space, Wooded
Details
- Parcel number: 1924059149
- Zoning: R15
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Modern
- Property subtype: Single Family Residence
Materials
- Cement/Concrete, Wood Siding
- Foundation: Slab
- Roof: Torch Down
Condition
- Updated/Remodeled
- Year built: 1960
- Major remodel year: 1960
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Sewer Connected, Company: City of Mercer Island
- Water: Public, Company: City of Mercer Island
Community & neighborhood
Location
- Region: Mercer Island
- Subdivision: East Mercer
HOA & financial
Other financial information
- Total actual rent: 10000
Other
Other facts
- Listing terms: Conventional
- Cumulative days on market: 525 days
Price history
| Date | Event | Price |
|---|---|---|
| 7/21/2025 | Sold | $4,800,000-4%$1,280/sqft |
Source:  NWMLS as distributed by MLS GRID #2393404 Report a problem | ||
| 6/24/2025 | Pending sale | $4,999,900$1,333/sqft |
Source: NWMLS as distributed by MLS GRID #2393404 Report a problem | ||
| 6/16/2025 | Listed for sale | $4,999,900-8.9%$1,333/sqft |
Source: NWMLS as distributed by MLS GRID #2393404 Report a problem | ||
| 6/16/2025 | Listing removed | $5,491,000$1,464/sqft |
Source: Realogics Sothebys International Realty #2373489 Report a problem | ||
| 5/10/2025 | Listed for sale | $5,491,000-5%$1,464/sqft |
Source: Realogics Sothebys International Realty #2373489 Report a problem | ||
| 5/9/2025 | Listing removed | $5,780,000$1,541/sqft |
Source: Realogics Sothebys International Realty #2273930 Report a problem | ||
| 3/21/2025 | Price change | $5,780,000-3.3%$1,541/sqft |
Source: Realogics Sothebys International Realty #2273930 Report a problem | ||
| 8/23/2024 | Listed for sale | $5,980,000+57.5%$1,595/sqft |
Source: Realogics Sothebys International Realty #2273930 Report a problem | ||
| 8/2/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 7/17/2024 | Price change | $9,000-5.3%$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/30/2024 | Price change | $9,500-7.3%$3/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/3/2024 | Listed for rent | $10,250+7.9%$3/sqft |
Source: Zillow Rentals Report a problem | ||
| 4/16/2021 | Listing removed | -- |
Source: Zillow Rental Network Premium Report a problem | ||
| 4/5/2021 | Listed for rent | $9,500+26.7%$3/sqft |
Source: Zillow Rental Network Premium Report a problem | ||
| 1/18/2020 | Listing removed | $7,500+7.1%$2/sqft |
Source: TAG Property Management Report a problem | ||
| 1/17/2020 | Price change | $7,000-6.7%$2/sqft |
Source: TAG Property Management Report a problem | ||
| 11/1/2019 | Listed for rent | $7,500$2/sqft |
Source: TAG Property Management Report a problem | ||
| 9/30/2019 | Listing removed | $3,798,000$1,013/sqft |
Source: Lake & Company #1479578 Report a problem | ||
| 9/30/2019 | Listed for sale | $3,798,000+5%$1,013/sqft |
Source: Lake & Company #1479578 Report a problem | ||
| 9/27/2019 | Sold | $3,618,000-4.7%$965/sqft |
Source: NWMLS as distributed by MLS GRID #1479578 Report a problem | ||
| 9/6/2019 | Pending sale | $3,798,000$1,013/sqft |
Source: Lake & Company #1479578 Report a problem | ||
| 7/30/2019 | Price change | $3,798,000-2.5%$1,013/sqft |
Source: Lake & Company #1479578 Report a problem | ||
| 6/22/2019 | Price change | $3,895,000-2.1%$1,039/sqft |
Source: Lake & Company #1479578 Report a problem | ||
| 5/22/2019 | Price change | $3,980,000-2.8%$1,061/sqft |
Source: Lake & Company #1479578 Report a problem | ||
| 3/26/2019 | Listed for sale | $4,095,000$1,092/sqft |
Source: Lake & Company #1479578 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $35,154 +26% | $5,396,000 +26.6% |
| 2024 | $27,909 -9.4% | $4,262,000 -4.7% |
| 2023 | $30,792 +0.4% | $4,473,000 -10.6% |
| 2022 | $30,676 +14.3% | $5,002,000 +37.3% |
| 2021 | $26,833 +4.2% | $3,644,000 +13.2% |
| 2020 | $25,757 -1.7% | $3,218,000 -3% |
| 2019 | $26,192 +2.3% | $3,316,000 -2.6% |
| 2018 | $25,592 -10.3% | $3,406,000 +3.6% |
| 2017 | $28,523 +32.1% | $3,288,000 +11.1% |
| 2016 | $21,586 | $2,960,000 +10.4% |
| 2015 | $21,586 | $2,681,000 +8.6% |
| 2014 | $21,586 | $2,468,000 -2% |
| 2013 | $21,586 | $2,518,000 +8.4% |
| 2012 | -- | $2,322,000 -4.8% |
| 2011 | -- | $2,439,000 -7.3% |
| 2010 | -- | $2,630,000 |
| 2009 | -- | $2,630,000 +22.2% |
| 2007 | -- | $2,152,000 +19.6% |
| 2006 | -- | $1,800,000 +9.8% |
| 2005 | -- | $1,639,000 +25.6% |
| 2001 | $12,472 +8.6% | $1,305,000 +19.9% |
| 2000 | $11,481 | $1,088,000 |
Find assessor info on the county website
Neighborhood: 98040
Nearby schools
GreatSchools rating
- 9/10Island Park Elementary SchoolGrades: K-5Distance: 0.6 mi
- 9/10Islander Middle SchoolGrades: 6-8Distance: 1.4 mi
- 10/10Mercer Island High SchoolGrades: 9-12Distance: 1.3 mi
Schools provided by the listing agent
- Elementary: Island Park Elem
- Middle: Islander Mid
- High: Mercer Isl High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$4,661,700
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Estimated market value
$4,661,700
- Washington
- King County
- Mercer Island
- 98040
- 5438 E Mercer Way
Nearby cities
Nearby zip codes
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