98040 Homes under $700,000

98040 Homes under $700,000

Welcome to the charming community of Mercer Island, Washington, nestled within the picturesque landscapes of King County. The zip code 98040 is not just a number; it represents a vibrant lifestyle that blends serene suburban living with easy access to the bustling city of Seattle. Known for its stunning waterfront views, lush parks, and excellent schools, Mercer Island is a coveted destination for families, professionals, and retirees alike.

If you're searching for homes under $700,000, you'll be delighted to discover a variety of options that cater to diverse tastes and needs. From cozy townhomes to quaint single-family residences, the real estate market in this area offers fantastic opportunities for first-time buyers or those looking to downsize without compromising on quality of life. Many of these homes boast modern amenities, beautiful outdoor spaces, and proximity to local attractions, making them perfect for enjoying the serene island lifestyle.

Living in Mercer Island means you can relish in the natural beauty surrounding you, with parks like Luther Burbank Park and Pioneer Park offering trails, picnic areas, and stunning lake views. Plus, with easy access to I-90, commuting to Seattle is a breeze, allowing you to enjoy the best of both worlds—tranquil island life and the vibrant energy of the city.

Explore the possibilities in 98040 and discover your dream home in this idyllic community where comfort meets convenience. Your future awaits in Mercer Island!

Newest 98040 Homes under $700,000

2760 76th Avenue SE Unit #402, Mercer Island
$399,000
1 Beds ⋅ 1 Baths ⋅ 2589481 MLS ⋅ ACTIVE Status
Affordable, turnkey Mercer Island condo in the sought-after Carlton, just a few blocks to Link Light Rail with easy access to Seattle and the Eastside. Right in the heart of the MI business district, this home boasts an 84 Walk Score. Met Market, Mio Posto, Hap's Burgers, Island Books, Mercerdale Park, LID Park, and the MI Farmer's Market are all just steps away. Fresh interiors throughout with new Pergo Outlast+ laminate wood flooring, fresh interior paint, updated lighting and blinds, newer appliances, and a newer water heater. Cook and entertain with slab granite counters and cherry cabinets, then unwind by the wood-burning fireplace with Cascade Mountain views and a spacious private balcony. One deeded parking space in secure garage on the same level as the unit plus dedicated storage. Building amenities include elevators (2), secure entry and fitness center. Easy living on lovely Mercer Island, with Seattle and the Eastside just a bridge away. Pet-friendly building and no rental cap.

2760 76th Avenue SE Unit #402, Mercer Island

Listing Broker: Windermere West Metro; Chad Dierickx; 206-854-3931; chad@chaddierickx.com

2939 76th Avenue SE Unit #41B, Mercer Island
$280,000
1 Baths ⋅ 2589387 MLS ⋅ ACTIVE Status
Smart, stylish, and surprisingly spacious for its size, this 455-square-foot studio puts Mercer Island living within reach. First-time buyers, downsizers, and investors will all find something to love here. Tucked into the leafy hillside of the Island Habitat Condominiums, this home is ready for you to unpack. Fresh updates to the kitchen, bathroom, and flooring mean there's nothing left to do but settle in. Your dedicated parking spot takes the hassle out of coming home, and the town center is just a short stroll away, with the Farmer's Market, restaurants, parks, and the brand-new Light Rail station all close at hand. Right outside your door, the community cabana offers a fitness area and space to gather, so your living space stretches well beyond your front door. Mercer Island blends small-town calm with quick I-90 access to both Seattle and Bellevue, making this an ideal base for commuters and weekend adventurers alike.

2939 76th Avenue SE Unit #41B, Mercer Island

Listing Broker: John L. Scott, Inc.; Kim Florence; 510-499-7714; Kimflorence@johnlscott.com

2500 81st Avenue SE Unit #351, Mercer Island
$395,000
1 Beds ⋅ 2 Baths ⋅ 2564041 MLS ⋅ ACTIVE Status
Light-filled and move-in ready, this inviting 2-bedroom, 1.5-bath Mercer Island condominium offers comfort, convenience, and an exceptional location. Fresh interior paint and new carpet create a clean, updated feeling throughout. The spacious living room is anchored by a cozy wood-burning fireplace and a dramatic wall of windows that floods the home with natural light while opening to an expansive sun terrace—perfect for morning coffee, outdoor dining, or simply enjoying the peaceful treed outlook. The functional kitchen offers new stainless-steel appliances, ample storage, and workspace. The thoughtful floor plan provides comfortable everyday living and an assigned parking space for added convenience. Ideally situated just moments from Mercer Island's vibrant town center, shops, restaurants, parks, and the Link Light Rail station, you'll enjoy a highly walkable lifestyle with easy access to both Seattle and Bellevue. A wonderful opportunity to enjoy the best of Mercer Island living!

2500 81st Avenue SE Unit #351, Mercer Island

Listing Broker: Coldwell Banker Bain; Franz T. Diessner; 425-765-4252; teamfranzandjoe@cbbain.com

2500 81st Avenue SE Unit #329, Mercer Island
$360,000
1 Beds ⋅ 1 Baths ⋅ 2548493 MLS ⋅ ACTIVE Status
Rare opportunity on Mercer Island — a East facing one-bedroom with a private deck all within steps of the light rail station, Park & Ride and Downtown. The open living/dining space features hardwood-look plank flooring, a wall of windows, and seamless flow to the oversized deck. kitchen and bath. Building amenities include elevator, gated entry, laundry, and extra storage. The HOA includes water, sewer, trash, earthquake insurance, and grounds — two cell tower leases with Verizon and T-Mobile provide the association durable non-assessment revenue. Board actively managing capital projects including building repipe (engineering underway with J2 Consulting), new gutters, LED lighting upgrades, and elevator work recently completed. Walk Score 80 | Transit Score 82. Mercer Island schools. Bonus: No Rental Cap

2500 81st Avenue SE Unit #329, Mercer Island

Listing Broker: RE/MAX Eastside Brokers, Inc.; Bev Watson; 425-453-7000; bevwatson@remax.net

7600 SE 29th St Unit #311, Mercer Island
$565,000
2 Beds ⋅ 2 Baths ⋅ 2502461 MLS ⋅ ACTIVE Status
Located in a PRIME walkable location! This third-floor corner unit with only one shared wall offers a rare combination of privacy, comfort, and convenience. The 2 bed/1.75 bath home features a fully updated kitchen (updated in 2023) with granite countertops and stainless appliances, opening into a comfortable living and dining space. The primary suite is generously sized with a walk-in closet and a redone bath with dual vanities and a walk-in shower. The second bedroom is also generously sized, with a nicely updated guest bathroom. Private balcony, a large storage unit (great for bikes and gear), elevator access, secure parking garage, and guest parking are all included. Just a short walk to Metropolitan Market, the farmers market, parks, and the light rail for an easy commute to Seattle or the Eastside. This home is a MUST SEE! Pre-inspected for peace of mind.

7600 SE 29th St Unit #311, Mercer Island

Listing Broker: Real Broker LLC; Melanie Ghadamy; 425-445-0475; m.ghadamy@mcconnellgroup.com

2500 81st Avenue SE Unit #118, Mercer Island
$399,950
2 Beds ⋅ 1 Baths ⋅ 2480792 MLS ⋅ ACTIVE Status
PRICE IMPROVED + SELLER PAYS 6 MONTHS OF HOA DUES! Discover one of the best values in downtown Mercer Island. This beautifully remodeled residence is ideally located directly across from the new light rail station and just moments from Luther Burbank Park, downtown Mercer Island, the Community Center, waterfront parks, and regional walking and biking trails. Enjoy rare features including no rental cap, a conveniently located covered carport near the entrance, large storage unit (#14), and an approved, recorded in-unit washer/dryer. Building amenities include an elevator and club/conference room (currently being renovated). The fully renovated interior features a designer kitchen with farmhouse sink, updated bathroom, new lighting, fireplace, custom closet organizers, air conditioning, and a private in-unit washer/dryer. Bright, open living spaces extend to an expansive west-facing veranda—perfect for relaxing, entertaining, and enjoying beautiful sunset views. Located in Mercer Island's award-winning school district with quick access to both Seattle and Bellevue, this home offers exceptional convenience, flexibility, and investment potential. Price has been significantly improved, and the seller will pay 6 months of HOA dues—making this an exceptional opportunity for homeowners and investors alike.

2500 81st Avenue SE Unit #118, Mercer Island

Listing Broker: Realogics Sotheby's Int'l Rlty; Amy Thompson; 206-679-8862; amy.thompson@rsir.com

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