Exceptional Development Opportunity on Mercer Island. A generous 22,000 sq ft corner lot in one of MI’s most desirable neighborhoods. Site Development permitting is in process. The lot’s regular shape supports optimal design flexibility, allowing future homes to maximize the 40% FAR. Enjoy an unbeatable location just minutes from the lake, parks, shopping, and top-rated schools—all within walking distance. An existing home on the property has been modestly updated. Whether you’re a builder, investor, or homeowner with vision, this is a prime opportunity to capitalize on the scarcity of developable land on MI. Bring your team and start the permitting process.
Active
Listed by: John L. Scott, Inc. • Xia Zhao
$2,099,000
7204 78Th Avenue SE, Mercer Island, WA 98040
4beds
3,040sqft
Single Family Residence
Built in 1958
0.51 Acres Lot
$2,021,200 Zestimate®
$690/sqft
$-- HOA
What's special
- 61 days |
- 343 |
- 2 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Xia Zhao,
John L. Scott, Inc.
Source: NWMLS as distributed by MLS GRID,MLS#: 2520530
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 2
- Full bathrooms: 1
- 1/2 bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 3
Bedroom
- Level: Lower
Bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Other
- Level: Lower
Bonus room
- Level: Lower
Den office
- Level: Lower
Dining room
- Level: Main
Entry hall
- Level: Main
Family room
- Level: Lower
Kitchen without eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Lower
Heating
- Fireplace, Forced Air, Electric, Oil, Wood
Cooling
- None
Features
- Basement: Daylight,Partially Finished
- Number of fireplaces: 2
- Fireplace features: Wood Burning, Lower Level: 1, Main Level: 1, Fireplace
Interior area
- Total structure area: 3,040
- Total interior livable area: 3,040 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached Garage
- Has attached garage: Yes
- Covered spaces: 2
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Fireplace
- Has view: Yes
- View description: Territorial
Lot
- Size: 0.51 Acres
- Features: Corner Lot, Value In Land, Deck, Gas Available
- Topography: Partial Slope
- Residential vegetation: Garden Space
Details
- Parcel number: 2524049068
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story w/Bsmnt.
- Property subtype: Single Family Residence
Materials
- Wood Products
- Roof: Composition
Condition
- Year built: 1958
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Community & HOA
Community
- Subdivision: South End
Location
- Region: Mercer Island
Financial & listing details
- Price per square foot: $690/sqft
- Tax assessed value: $2,043,000
- Annual tax amount: $12,852
- Date on market: 5/8/2026
- Cumulative days on market: 62 days
Estimated market value
$2,021,200
$1.92M - $2.12M
$6,024/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/8/2026 | Listed for sale | $2,099,000+24.9%$690/sqft |
Source:  NWMLS as distributed by MLS GRID #2520530 Report a problem | ||
| 5/17/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 3/29/2023 | Price change | $2,795-6.7%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/13/2023 | Listed for rent | $2,995$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/4/2021 | Sold | $1,680,000-4%$553/sqft |
Source: NWMLS as distributed by MLS GRID #1605101 Report a problem | ||
| 9/26/2021 | Pending sale | $1,750,000$576/sqft |
Source: NWMLS as distributed by MLS GRID #1605101 Report a problem | ||
| 9/1/2021 | Listed for sale | $1,750,000$576/sqft |
Source: NWMLS as distributed by MLS GRID #1605101 Report a problem | ||
| 5/3/2021 | Pending sale | $1,750,000$576/sqft |
Source: NWMLS as distributed by MLS GRID #1605101 Report a problem | ||
| 4/23/2021 | Listed for sale | $1,750,000$576/sqft |
Source: NWMLS as distributed by MLS GRID #1605101 Report a problem | ||
| 2/12/2021 | Pending sale | $1,750,000$576/sqft |
Source: NWMLS as distributed by MLS GRID #1605101 Report a problem | ||
| 6/1/2020 | Listed for sale | $1,750,000$576/sqft |
Source: Coldwell Banker Bain #1605101 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,323 +3.7% | $2,043,000 +4.2% |
| 2024 | $12,852 -0.6% | $1,961,000 +4.5% |
| 2023 | $12,933 +0.4% | $1,877,000 -10.6% |
| 2022 | $12,884 +11.4% | $2,099,000 +33.8% |
| 2021 | $11,563 +1.8% | $1,569,000 +10.6% |
| 2020 | $11,359 +21% | $1,418,000 +19.5% |
| 2019 | $9,387 +7.2% | $1,187,000 +2% |
| 2018 | $8,756 -4.3% | $1,164,000 +10.4% |
| 2017 | $9,152 +29% | $1,054,000 +9.2% |
| 2016 | $7,093 | $965,000 +10.3% |
| 2015 | $7,093 | $875,000 +8% |
| 2014 | $7,093 | $810,000 +9% |
| 2013 | $7,093 | $743,000 +8.5% |
| 2012 | -- | $685,000 -5% |
| 2011 | -- | $721,000 -4.6% |
| 2010 | -- | $756,000 |
| 2009 | -- | $756,000 +19.2% |
| 2007 | -- | $634,000 +7.8% |
| 2006 | -- | $588,000 +9.7% |
| 2005 | -- | $536,000 +30.1% |
| 2001 | $3,942 +4.8% | $412,000 +15.7% |
| 2000 | $3,761 | $356,000 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 98040
Nearby schools
GreatSchools rating
- 9/10Lakeridge Elementary SchoolGrades: K-5Distance: 0.5 mi
- 9/10Islander Middle SchoolGrades: 6-8Distance: 0.3 mi
- 10/10Mercer Island High SchoolGrades: 9-12Distance: 2.4 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Washington
- King County
- Mercer Island
- 98040
- 7204 78Th Avenue SE
Nearby cities
Nearby zip codes
Other Mercer Island Topics
