406 E Madrona Drive Lakebay, WA $ 317,000
406 E Madrona Drive
$ 317,000
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406 E Madrona Drive

Lakebay, WA, 98349
$ 317,000
Bedrooms1 Baths1.0 Sq 864

Monthly Estimate*

$ 1,952

Listed by Morrison House Sotheby's Intl
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Single Family Home for sale in Lakebay, WA

for $317,000 with 1 bedroom and 1 full bath. This 864 square foot home was built in 1982 on a lot size of 0.5877.

Hop on the ferry, watch the mainland shrink behind you, and arrive somewhere most people never find. Herron Island is one of the few remaining private islands in Puget Sound, a close-knit community of just over 100 residents where eagles fly overhead, deer wander freely, and the outside world genuinely feels far away. Spend your days exploring North Beach Park, walking the natural shoreline of South Beach, or unwinding at Goodpastor Park. It is the kind of place people stumble onto and never stop thinking about. This 1 bed, 1 bath bungalow plus bonus room sits on just over a half-acre, one of the larger buildable lots on the island, and has been thoughtfully improved with a full gut renovation of the kitchen and bathroom and all-new appliances. The groundwork for a little homestead life is already here, a deer-proof fenced garden area where dahlias once flourished and a chicken coop ready for new tenants. Use it as your personal escape, rent it out while you are away, or hold it and build something bigger down the road. HOA covers water. Access via the community ferry "Charlie Wells," a 10-minute crossing that makes all the difference. Step off the ferry and you will pass a general store currently under construction, close enough that your ice cream won't have a chance to melt.

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Single Family Active

Price

$ 317,000

Bedrooms

1

Full Bath

1

Property Type

Single Family

Taxes

$ 2,131

Style

2 Story

Lot Size

0.5877

Year Built

1982

Town/City

Lakebay

County/Region

Pierce

MLS | Web ID

2463344

Features
General
Living Area 864
Sewer Septic Tank
Heating Ductless
Cooling Ductless
Possession Closing
Roof Composition
Appliances Dishwasher(s) Dryer(s) Refrigerator(s) Stove(s)/Range(s) Washer(s)
HOA Fee 315
Association Fee Includes Road Maintenance See Remarks Water
Security Features Partially Fenced
Year Built 1982
Topography Level
Levels Two
Property Subtype Single Family Residence
Tax Year 2025
Community Features Boat Launch CCRs Club House Park Playground
Assoc Fee Paid Per Monthly
County Pierce
New Construction N
Property Type Residential
HOA Y
Attached Garage N
Subdivision Name Herron Island
Full Baths 1
Special Listing Conditions None
Status Active
Directions When you get off the ferry follow Ferry St NW to E Madrona Blvd NW and go left - follow to address.
High School Peninsula High
City Lakebay
Entry Location Main
Senior Community Y/N N
High School District Peninsula
MLS Area 4 - Key Peninsula South
Lot Size Units Square Feet
Lot Size Square Feet 25600
Carport Y/N N
Listing Terms Cash Conventional Rehab Loan
Elementary School Buyer To Verify
Land Lease Y/N N
Tax Annual Amount 2131
Middle/Junior High School Key Peninsula Mid
Public Remarks Hop on the ferry watch the mainland shrink behind you and arrive somewhere most people never find. Herron Island is one of the few remaining private islands in Puget Sound a close-knit community of j
Structure Type House
Building Area Units Square Feet
Standard Status Active
Water Company Herron Island Water Depart
Property Style 12 - 2 Story
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Interior
Interior Amenities Fireplace
Basement None
Flooring Laminate
Total Fireplaces 1
Fireplace Features Wood Burning
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N Y
Half Baths 0
3/4 Baths 0
Total Bedrooms 1
Main Level Bedrooms 0
Total Baths 1
Bedrooms Possible 1
Fireplaces Main 1
Power Production Type Electric Wood
Baths Three Quarter Garage 0
Baths Three Quarter Lower 0
Baths Three Quarter Main 0
Baths Three Quarter Upper 0
Bedrooms Lower 0
Bedrooms Upper 1
Baths Half Upper 0
Baths Half Main 0
Baths Half Lower 0
Baths Half Garage 0
Baths Full Upper 0
Baths Full Main 1
Baths Full Lower 0
Baths Full Garage 0
Bathrooms 1
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Exterior
Exterior Amenities Wood
Vegetation Fruit Trees Garden Space
Parking Features Driveway Off Street
Water Source Community
Total Parking 0
Inclusions Dishwasher(s) Dryer(s) Refrigerator(s) Stove(s)/Range(s) Washer(s)
Foundation Details Block
Building Area Total 864
Lot Size Acres 0.5877
Waterfront Y/N N
Covered Spaces 0
Irrigation Water Rights Y/N N
Site Features Deck Fenced-Partially Green House Outbuildings
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Internal Only
OriginalMLSID NWM2463344
Street Number 1 406
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* Excluded Features
List By
Christopher Floyd

Listing Agent

Morrison House Sotheby's Intl

Broker

Affordability Calculator

$2,129
Per Month
92%
8%
0%
Monthly Principal & Interest
$1,952
Monthly Property Taxes
$178
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3100672 Elementary School
257425 Middle School
Peninsula High High School
Pricing History
DatePricePrice ChangeDescription
2/19/2026$317,000 Listed Price

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406 E Madrona Drive, Lakebay, WA, 98349 is a Single Family Home for sale at $317,000 with 864 sqft and a lot size of 0.5877. 406 E Madrona Drive has 1 bedrooms, 1.0 baths, and was built in 1982. The property's zip code is 98349 which is in Lakebay, WA