$289,000
Est. $1,601/moPrice reduced $20,000 from the original $309,000 asking price
1 bd•1 ba•864 sq ft
406 E Madrona Drive, Lakebay, WA 98349
• Listed Aug 21, 2026•224 days active · 224 cumulative
Listing Broker: Morrison House Sotheby's Intl; Christopher Floyd; 253-220-5700; epicPNWhomes@gmail.com
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Listing Broker: Morrison House Sotheby's Intl; Christopher Floyd; 253-220-5700; epicPNWhomes@gmail.com
About this home
Catch the ferry, watch the shoreline shrink behind you, and arrive somewhere most people don't even know is real. Herron Island is one of the last privately-owned islands in Puget Sound, home to a close community of just over 100 residents, where eagles wheel overhead, deer wander freely, and the noise of everyday life feels miles away. Spend your time at North Beach Park, the untouched shoreline of South Beach, or the quiet of Goodpastor Park. It's the kind of place visitors stumble upon and keep thinking about long after they leave. This 1-bedroom, 1-bath bungalow with a versatile bonus room sits on just over half an acre — one of the island's bigger buildable lots — and has already been upgraded with a complete kitchen and bathroom remodel plus brand-new appliances. The foundation for a mini homestead is in place too: a fenced, deer-proof garden bed where dahlias used to bloom, and a chicken coop waiting for its next flock. Keep it as a private getaway, list it as a rental when you're not around, or hang onto it as a launchpad for something larger later. HOA includes water. You'll reach the island via the community ferry, the Charlie Wells, a quick 10-minute ride that changes everything.
Listed by Christopher Floyd • Morrison House Sotheby's Intl
Listing updated: September 24, 2026 at 06:08pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2572099
Around this home
How much should you offer?
406 E Madrona Drive, Lakebay, WA 98349
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Interior features
- Fireplace
- Fireplace (wood burning)
Kitchen
- Dishwasher
- Dryer
- Refrigerator
- Stove(s)/Range(s)
- Washer
Bedrooms
- 1 bedroom total
- 1 upstairs
Bathrooms
- 1 full bathroom
- 1 on the main level
Layout
- 2 Story
- 864 sq ft finished
Flooring
- Laminate
Heating & cooling
- Ductless heating
- Ductless cooling
Schools
Ratings via SchoolDiggerPeninsula School District
- Buyer To VerifyPublic · Grades Elementary—
- Key Peninsula Middle SchoolPublic · Grades 6-8 · State rank 230 of 5146/10
- Peninsula High SchoolPublic · Grades 9-12 · State rank 62 of 3968/10
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
Single-family home facts
As entered by the listing broker on Northwest MLS
Lot & site
- Topography
- Level
- Vegetation
- Fruit Trees, Garden Space
- Zoning code
- R10
- Bus route
- Herron Island Ferry
Systems
- Energy source
- Electric,Wood
- Power production
- Electric, Wood
- Power company
- Peninsula Lignt Co
- Water company
- Herron Island Water Depart
- Sewer company
- Septic
- Irrigation water rights
- No
Rooms & extras
- Bathtubs
- 1
- Showers
- 1
- Fireplaces on main
- 1
New construction
- Square footage source
- Realist
- Lot size source
- Realist
- Effective year built source
- Public Records
Manufactured home
- Land lease
- No
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Sales & Tax Records for 406 E Madrona Drive
NWMLS via MLS Grid · Pierce County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Sep 25, 2026Price reducedNWMLS via MLS Grid · #2572099$289,000$334/sq ft
- Aug 21, 2026ListedNWMLS via MLS Grid · #2572099$309,000$358/sq ft
- Apr 4, 2024SoldNWMLS via MLS Grid · #2204718$225,000$260/sq ft
- Mar 4, 2024PendingNWMLS via MLS Grid · #2204718$225,000$260/sq ft
- Mar 1, 2024ListedNWMLS via MLS Grid · #2204718$225,000$260/sq ft
Down payment assistance
6 programs may be available to provide you with up to $55,000 in down payment assistance, depending on your specific information.
Northwest MLS lists this home as eligible for down payment assistance programs
Source: program list compiled by RexMont from ARCH (A Regional Coalition for Housing) member-jurisdiction information. This is not Northwest MLS listing data.
Mortgage payment forecast
$2,166 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
Ask about this home
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Listing Broker: Morrison House Sotheby's Intl; Christopher Floyd; 253-220-5700; epicPNWhomes@gmail.com
Market pulse
Lakebay is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 84 days.
Recent sales nearby
Within 1 mile · last 6 months$475,000 Sold
1 week ago
2 bd•1 ba•~880 sq ft•Single Family
108 Herron Lane NW, Lakebay, WA 98349
5%
Under list
161
Days on market
0.3 mi
Distance
$260,000 Sold
7 weeks ago
1 bd•0.75 ba•~664 sq ft•Single Family
922 W Herron Boulevard NW, Lakebay, WA 98349
9%
Under list
60
Days on market
0.4 mi
Distance
$339,000 Sold
7 weeks ago
1 bd•0.75 ba•~480 sq ft•Single Family
415 E Herron Boulevard NW, Lakebay, WA 98349
3%
Under list
100
Days on market
0.1 mi
Distance
$182,500 Sold
3 months ago
•Single Family
22418 Maple Drive NW, Lakebay, WA 98349
6%
Under list
69
Days on market
0.3 mi
Distance
$520,000 Sold
4 months ago
3 bd•1.5 ba•~1,920 sq ft•Single Family
913 E Herron Blvd, Lakebay, WA 98349
3%
Under list
141
Days on market
0.4 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 18, 2026 at 1:09 PM PT (date and time MLS GRID Data was obtained). 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 courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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© 2026 Northwest Multiple Listing Service. All rights reserved.
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