Your Next Chapter Deserves a Thoughtful Plan.
601 W Mercer Pl #401, Seattle, WA 98119
Tom, building upon our recent conversation, this personalized presentation integrates your 2026 market update, tenant transition schedule, Homestead capital gains timing, and custom CMA analysis for unit #401.
Target Valuation
$700,000 – $900,000
Property Specs
1,513 Sq Ft • 2 Bed / 2 Bath
Building
Top 4th Floor • Elliott Bay View
Current Rent
$4,150 / mo ($150 increase)
A Plan Built Around What Matters Most.
Homestead Rule & Timing
Aligning your sale within the 5-year primary residence exemption window preserves maximum tax-free capital gains. Planning a May listing window gives us ideal market momentum following March/April lease decisions.
Smooth Tenant Transition
Your elderly tenants have been in place for 2 years at $4,150/mo. Whether they renew or go Month-to-Month with a 120-day notice, we will protect your monthly rental stream while preparing seamless showing logistics.
Cash-Out vs. Seller Financing
With a $550k mortgage at 3.0% interest, we will evaluate your net equity position in the $700k–$900k range against structured owner financing that generates ongoing passive yield.
Answers to the Questions That Matter.
Direct clarity on renovation costs, tenant management, pricing, and capital gains rules.
What Recent Sales Tell Us About Your Home.
A comprehensive evaluation of Queen Anne & Elliott Bay waterfront comparables for 601 W Mercer Pl #401.
10.15 Updated CMA — 601 W Mercer Pl #401
Active & closed market comps focused strictly within the $700,000 – $900,000 range.
$815,000
1240 5th Ave N #201, Seattle, WA 98109
Union Vista — Queen Anne • 2 Bed / 2 Bath • 1,310 sq ft
2 bed / 2 bath Queen Anne comparable sold at $622/sqft. Demonstrates strong baseline buyer liquidity in the $800k bracket, with #401 offering superior 4th-floor Elliott Bay views and larger square footage.
$900,000
2607 Western Ave #1203, Seattle, WA 98121
The Vine — Belltown / Waterfront • 2 Bed / 2 Bath • 1,325 sq ft
Waterfront & Sound view comparable closing right at the top of the $700k–$900k bracket ($679/sqft). Confirms buyer appetite for floor-to-ceiling glass and sound views up to $900,000.
$745,000
500 5th Ave W #302, Seattle, WA 98119
Queen Anne West — Lower Queen Anne • 2 Bed / 2 Bath • 1,248 sq ft
Established 2 bed / 2 bath Queen Anne condo closing at $745,000 ($597/sqft). Provides clear comparable floor pricing for original-finish 2-bedroom units in immediate Queen Anne proximity.
Key CMA Insights for #401
Floor & View Premium
As a top 4th-floor unit directly under the penthouse with floor-to-ceiling glass and private balcony facing Elliott Bay, #401 commands top-tier pricing compared to lower-floor sales in lower Queen Anne.
Boutique 22-Unit Exclusivity
The Grande's strict 2-unit rental cap preserves high owner-occupancy standards while giving you the option to market to investor-buyers or owner-occupants looking for 1,513 sq ft of spacious luxury.
Could First Look Fit Your Timing?
First Look is an optional NWMLS listing stage that allows a home to be marketed for up to 21 days while preparing for an Active launch. We can discuss whether this approach aligns with your timing and goals.
Test Investor Interest
Gauge buyer & investor response within the $700k–$900k bracket prior to full public open houses while tenants prepare.
Flexible Marketing Window
Up to 21 days of NWMLS broker exposure without accumulating active Days on Market counter.
Align With May Target
Maintains full control over showing access and tenant privacy until you give green light for Active launch.
From Market Insight to a Clear Plan.
What we will accomplish during our listing strategy conversation.
Review the Property
Evaluate unit #401's condition, A/C installation, floor-to-ceiling view orientation, and minimal refresh needs to maximize net yield.
Address Your Priorities
Review lease timelines, tenant coordination, $550k mortgage payoff, cap rate considerations, and Homestead tax exemption parameters.
Explore Personalized Strategy
Compare 5.5% commission 5-star 90-day listing plan options tailored to the $700k–$900k market bracket, plus owner-financing models.
Let's Make Your Next Move a Thoughtful One.
Select an available time below to review your 2026 market update, pricing models, and tenant timeline with Celeste Zarling.
Prefer to schedule directly? Call 425.420.4887 or email celeste@celestezarling.com.
Tom's Personalized Selling Plan
Includes a summary of unit #401's valuation, tenant management timeline, Homestead tax exemption parameters, and comparable sales analysis.