406 E Madrona Drive Lakebay, WA $ 289,000
406 E Madrona Drive
$ 289,000
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406 E Madrona Drive

Lakebay, WA, 98349
$ 289,000
Bedrooms1 Baths1.0 Sq 864

Monthly Estimate*

$ 1,996

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

for $289,000 with 1 bedroom and 1 full bath. This 864 square foot home was built in 1982 on a lot size of 0.5877.

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.

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Single Family Active

Price

$ 289,000

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

2572099

Features
General
Living Area 864
Sewer Septic Tank
Heating Ductless
Cooling Ductless
Possession Closing
Roof Composition
Appliances Dishwasher Dryer Refrigerator Stove(s)/Range(s) Washer
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 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
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 NWM2572099
Street Number 1 406
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* Excluded Features
List By
Christopher Floyd

Listing Agent

Morrison House Sotheby's Intl

Broker

epicPNWhomes@gmail.com

Email

Affordability Calculator

$2,174
Per Month
92%
8%
0%
Monthly Principal & Interest
$1,996
Monthly Property Taxes
$178
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% 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
9/8/2026$289,000 -6.47% Price Down
8/21/2026$309,000 Listed Price

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406 E Madrona Drive, Lakebay, WA, 98349 is a Single Family Home for sale at $289,000 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