REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Michael Gibson

michael@michaelgibsonrealtor.com +1(509) 378-7889

Listed by:Coldwell Banker Evergreen • Madison Del Vigo

$ 539,000

Est. payment | -/mo

4 Beds

2 Baths

2,244 SqFt

Save

$ 539,000

Est. payment | -/mo

Save

4 Beds

2 Baths

2,244 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,244 sqft

Price per Sqft $240

Subdivision Tumwater Hill

MLS Listing ID 2573230

Style 10 - 1 Story

Bedrooms 4

Full Baths 2

Year Built 1930

Annual Tax Amount $2,977

Lot Size 5,935 Sqft

Lot Dimensions 50x119

Property Sub-Type Single Family Residence

Property Description

Just off Tumwater's historic core, near the Craft District, Brewery Park at Tumwater Falls, parks, trails and local schools, this is one of those properties where the options are the story. The recently refreshed 3-bedroom main home is warm and inviting, with a fully detached 1-bedroom, 1-bath ADU offering a second, completely separate place to live or rent. Live in the main home and rent the ADU. Live in the ADU and rent the larger home. Or rent both and let the numbers work for you. Current combined rents are $4,532/month, or $54,384/year. Seller-provided figures show $45,313 NOI and an approx. 8.4% cap rate based on current offering terms. Even with 20% down and conventional financing, current income and expenses show potential for positive cash flow. For an owner-occupant, rental income could offset a meaningful part of the monthly payment. For an investor, you have two rentable homes with established income in a location people want to live. The setting makes everyday life easy, with recreation, restaurants, schools and downtown Olympia nearby, plus direct access to I-5 for commuting north or south. Spend the morning walking Tumwater Falls, head to the Craft District for dinner, then come home to a property with room to make your own plan. Two detached homes, established income, everyday livability and more than one smart way to own it. Investor, first time buyer or downsizing? This is the property you have been waiting for!

Location

State WA

County Thurston

Area 443 - Tumwater

Rooms

Basement None

Main Level Bedrooms 4

Interior

Interior Features Ceiling Fan(s), Water Heater

Flooring Laminate, Vinyl

Fireplace false

Appliance Refrigerator, See Remarks

Exterior

Exterior Feature Wood, Wood Products

Amenities Available Cable TV, Gas Available, High Speed Internet

View Y/N No

Roof Type Composition

Building

Lot Description Sidewalk

Story One

Sewer Sewer Connected

Water Public

Architectural Style Craftsman

New Construction No

Schools

Elementary Schools Tumwater Hill Elem

Middle Schools Tumwater Mid

High Schools A G West Black Hills

School District Tumwater

Others

Senior Community No

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(509) 378-7889

michael@michaelgibsonrealtor.com

3311 W Clearwater Ave Suite, Kennewick, WA, USA

GET MORE INFORMATION

Name

Email*

Phone*

Message

QUICK SEARCH

101 2nd AVE NW Olympia, WA 98512