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$5,980,000

Beds
5
Baths
3.25
sq ft
3,750

5438 E Mercer Way, Mercer Island, WA 98040

5438 E Mercer Way

Mercer Island, WA 98040

  • 46 days on market
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.

Details

Property type

Single Family Residence

Est. home value

$5,557,756

Lot size

0.58 acres

Price per sq ft

$1,595

Year built

1960

Annual property taxes

$30,792

HOA

No

Price History

08/22/2024
NorthwestMLS

NorthwestMLS #2273930

Listed
$5,980,000
+65.28%
09/27/2019
NorthwestMLS

NorthwestMLS #1479578

Sold
$3,618,000

Schools & Community

Elementary school: 

Island Park Elem

Middle school: 

Islander Mid

High school: 

Mercer Isl High

High school district: 

Mercer Island

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$4,370,436
Asking price
$5,980,000
Closing costs (~8% of asking)
-$478,400
Est. remaining loan balance
-$1,131,164
Cash to seller
$4,370,436

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

East West Bank

Loan start date

December 2019

Original loan amount

$1,500,000

Est. remaining balance

$1,131,164

Interest rate

3.18%

Loan type

New Conventional, 16 year

Seller

Hongfang Li and Bingcheng Liu

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 10/07/2024 at 3:20 AM

Listing updated: 10/03/2024 at 2:19 PM

Listed by: Grace Yu, Realogics Sotheby's Int'l Rlty Phone #: (425) 800-0310

MLS: NorthwestMLS #2273930

NorthwestMLS logo

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