Listed by Windermere Real Estate/East, Bought with Windermere Mercer Island
$3,010,000
SOLD OCT 3, 2013

7441 W Mercer Way Mercer Island, WA 98040

Island Point Neighborhood
5 Beds
7 Baths
4,530 Sq Ft
0.61 Acres

Recently Sold

$664 Per Sq Ft

11% Below List Price

120 Days on Market

About This Home

As of May 2016

Resort style living! 96 ft of western lowbank wtrfrnt w/ sprawling beach area, newly built yachtsman's dock, outdoor BBQ space, salt water spa, waterside cabana & lake level kitchenette perfect for entertaining. State of the art commercial grade ktchn. Dreamy main floor mster. Spacious living/dining area. Detached 2 bdrm guest house. Sauna. Solar shades/radiant heat. Gorgeous park-like grounds. Plans ready for permit for additional level. Seller financing available:25% down, 3.75% interest rate.

Last Agent to Sell the Property

Joan Bayley

Windermere Real Estate/East License #38768 Listed on: 04/15/2013

Windermere Real Estate/East

Last Buyer's Agent

Cynthia Schoonmaker

Windermere Mercer Island License #11207

Windermere Mercer Island

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: NWM473209

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

Other

Est. Annual Taxes

$35,278

Year Built

1997

Lot Details

0

Listing Details

  • Condition: Remodeled
  • Sq Ft Finished: 4530
  • Form 17: Provided
  • Special Features: None
  • Year Built: 1997

Interior Features

  • Appliances: Dishwasher, Double Oven, Garbage Disposal, Microwave, Range/Oven, Refrigerator, Trash Compactor
  • Basement: Fully Finished
  • Features: 2nd Kitchen, Wet Bar, Bath Off Master, Double Pane/Storm Window, Dining Room, French Doors, High Tech Cabling, Hot Tub/Spa, Sauna, Security System, Skylights, Vaulted Ceilings
  • Floor: Ceramic Tile, Wall to Wall Carpet
  • Water Heater Location: Crawl space-75 gallon

Exterior Features

  • Roof: Cedar Shake
  • Building Information: Additional Dwelling
  • Exterior: Wood
  • Foundation: Poured Concrete
  • Lot Details: Paved Street
  • Roof: Cedar Shake
  • Site Features: Cabana/Gazebo, Cable TV, Deck, Dock, Natural Gas Available, Hot Tub/Spa, Moorage, Outbuildings, Patio, Sprinkler System
  • View: Lake
  • Waterfront: Lake
  • Waterfront Frontage: 96
  • Lot Topography: Fruit Trees, Garden Space, Partial Slope, Terraces

Garage/Parking

  • Parking Type: Garage-Detached
  • Total Covered Spaces: 2

Utilities

  • Cooling: Central A/C
  • Heating: Baseboard, Radiant
  • Appliances: Dishwasher, Double Oven, Garbage Disposal, Microwave, Range/Oven, Refrigerator, Trash Compactor
  • Heating and Cooling: Baseboard, Central A/C, Radiant
  • Power Company: Puget Sound Energy
  • Sewer: Connected
  • Sewer Company: City of Mercer Island
  • Water Company: City of Mercer Island
  • Water Source: Public

Schools

  • School District: MIS
  • Elementary School: Buyer To Verify
  • Middle School: Isler Mid
  • High School: Mercer Isl High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 1, 2016
Closed on
May 9, 2016
Sold by
7441 West Mercer Way Llc
Bought by
Wolgamott Leslie M
Seller's Agent
Cynthia Schoonmaker
Windermere Mercer Island
Buyer's Agent
Larry Williams
Windermere Mercer Island
List Price
$3,788,000
Sold Price
$3,550,000
Premium/Discount to List
-$238,000
-6.28%
Current Estimated Value
$6,853,781

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$3,303,781
Avg. Annual Appreciation
7.35%
Original Mortgage
$2,662,500
Outstanding Balance
$2,128,378
Interest Rate
3.37%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$4,695,738

Purchase Details

Listed on
Apr 15, 2013
Closed on
Sep 24, 2013
Sold by
Ellefsen Franklin C and Ellefsen Eileen M
Bought by
7441 West Mercer Way Llc
Seller's Agent
Joan Bayley
Windermere Real Estate/East
Buyer's Agent
Cynthia Schoonmaker
Windermere Mercer Island
List Price
$3,390,000
Sold Price
$3,010,000
Premium/Discount to List
-$380,000
-11.21%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.50%
Original Mortgage
$1,500,000
Interest Rate
4.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 3, 2008
Sold by
Holmgren Michael G and Holmgren Kathy J
Bought by
Ellefsen Frank C and Ellefsen Eileen M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
5.88%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
May 27, 2004
Sold by
Holmgren Michael G and Holmgren Kathy J
Bought by
Holmgren Michael G and Holmgren Kathy J

Purchase Details

Closed on
Jun 16, 1999
Sold by
Maltz Lawrence C and Maltz Agata C
Bought by
Holmgren Michael G and Holmgren Kathy J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
6.75%

Purchase Details

Closed on
Mar 12, 1993
Sold by
Rubin William and Rubin Jane H
Bought by
Maltz Lawrence C and Maltz Agata C

Purchase Details

Closed on
May 4, 1992
Sold by
Carter Donald E and Patricia Ann
Bought by
Rubin Willaim and Rubin Jane H
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $3,550,000 Chicago Title
Warranty Deed $3,010,000 Fidelity Natio
Warranty Deed $3,650,000 Rainier Title
Interfamily Deed Transfer -- --
Warranty Deed $2,775,000 Transnation Title Insurance
Warranty Deed $1,030,000 --
Warranty Deed $1,025,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $2,662,500 Adjustable Rate Mortgage/ARM
Previous Owner $1,500,000 New Conventional
Previous Owner $417,000 New Conventional
Previous Owner $1,500,000 Negative Amortization
Previous Owner $1,500,000 No Value Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/18/2016 05/18/16 Sold $3,550,000 -6.3% $775 / Sq Ft
03/30/2016 03/30/16 Pending -- -- --
03/01/2016 03/01/16 For Sale $3,788,000 +25.8% $827 / Sq Ft
10/03/2013 10/03/13 Sold $3,010,000 -11.2% $664 / Sq Ft
08/13/2013 08/13/13 Pending -- -- --
04/15/2013 04/15/13 For Sale $3,390,000 -- $748 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $35,278 $5,388,000 $3,208,000 $2,180,000
2023 $34,831 $5,060,000 $3,027,000 $2,033,000
2022 $31,145 $5,659,000 $3,406,000 $2,253,000
2021 $29,892 $4,230,000 $2,804,000 $1,426,000
2020 $33,264 $3,735,000 $2,671,000 $1,064,000
2018 $34,393 $4,123,000 $3,131,000 $992,000
2017 $29,522 $3,965,000 $3,011,000 $954,000
2016 $27,469 $3,628,000 $2,753,000 $875,000
2015 $26,568 $3,287,000 $2,492,000 $795,000
2014 -- $3,038,000 $2,304,000 $734,000
2013 -- $2,277,000 $2,276,000 $1,000
Source: Public Records

Agents Affiliated with this Home

  • Cynthia Schoonmaker

    Seller's Agent in 2016

    Cynthia Schoonmaker

    Windermere Corporate

    (206) 683-2725

    2 in this area

    29 Total Sales

    Section Image
  • Larry Williams

    Buyer's Agent in 2016

    Larry Williams

    Windermere Corporate

    (425) 445-9870

    2 in this area

    12 Total Sales

    Section Image
  • Joan Bayley

    Seller's Agent in 2013

    Joan Bayley

    Windermere Corporate

    (206) 940-4611

    66 Total Sales

    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: NWM473209

Northwest Multiple Listing Service (NWMLS)

APN: 252404-9030

Washington King County Mercer Island 98040 Island Point

7441 W Mercer Way, Mercer Island, WA

This home is located at 7441 W Mercer Way, Mercer Island, WA 98040 and is currently priced at $3,010,000, approximately $664 per square foot. This property was built in 1997. 7441 W Mercer Way is a home located in King County with nearby schools including Lakeridge Elementary School, Islander Middle School, and Mercer Island High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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