101 2nd Avenue NW, Olympia, WA 98512
- $539,000
- 4
- BD
- 2
- BA
- 2,244
- SqFt
Listing courtesy of Coldwell Banker Evergreen.
- List Price
- $539,000
- Status
- ACTIVE
- MLS#
- 2573230
- Days on Market
- 0
- Bedrooms
- 4
- Finished SqFt
- 2,244
- Area Total SqFt
- 2244
- Annual Tax Ammount
- 2977
- Internet Provider
- Comcast/Xfinity
- Lot Size (sq ft)
- 5,935
- Sewer
- Sewer Connected
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!
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Additional Information
- Community
- Tumwater Hill
- Style
- 10 - 1 Story
- Basement
- None
- Year Built
- 1930
- Total Covered Parking
- 1
- Roof
- Composition
- Site Features
- Cable TV, Gas Available, High Speed Internet
- Tax Year
- 2025
- School District
- Tumwater
- Elementary School
- Tumwater Hill Elem
- Middle School
- Tumwater Mid
- High School
- A G West Black Hills
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Interior Features
- Ceiling Fan(s), Water Heater
- Flooring
- Laminate, Vinyl
- Driving Directions
- From I-5 South, take Exit 101 for Tumwater Boulevard.Turn right onto Tumwater Boulevard and continue to the light at Capitol Boulevard. At that light, turn right onto Capitol Boulevard. Then take you
- Appliance
- Refrigerator, See Remarks
- Appliances Included
- Refrigerator(s), See Remarks
- Water Heater Location
- Closet
- Water Heater Type
- Electrical
- Energy Source
- Electric
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.