$539,000
 $2,893 est/mo Sourced by Back At You

101 2nd Avenue,Olympia, WA 98512

Olympia, WA 98512

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Description

Two homes in one great property! 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. 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. 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. Major updates throughout! Roof of the ADU is brand new, and windows in the main house have been replaced. The location 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. 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!

Details

MLS #2573230
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1930
Days On Site19
Listing Provided ByColdwell Banker Evergreen | Madison Del Vigo

Features

Bed(s)4
Bath(s) 2 Total
SQ Feet1,322
Car PortYes
Story(s)1
ZoningSFM
Acreage0.14

Taxes

Property2977

Area Information

StateWA
CountyThurston
CityOlympia
Zip Code98512
Area443 Tumwater
Community NameTumwater Hill
School DistrictA G West Black Hills
Elementary SchoolTumwater Hill Elem
High SchoolA G West Black Hills
Listing VS Median (in Tumwater Hill)
Price:
$539,000
low | high
Med:
$525,000
52.597402597403% of Average
sqft:
1,322
low | high
Med:
1,824
12.027231467474% of Average
$ / sqft:
$408
low | high
Med:
$288
79.404477101846% of Average
On site:
19
low | high
Med:
71
26.760563380282% of Average
Sourced by Back At You

Market Activity 98512

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Learn More About This Property

StateWA
CountyThurston
CityOlympia
Zip Code98512
Area443 Tumwater
Community NameTumwater Hill
School DistrictA G West Black Hills
Elementary SchoolTumwater Hill Elem
High SchoolA G West Black Hills
Listing VS Median (in Tumwater Hill)
Price:
$539,000
low | high
Med:
$525,000
52.597402597403% of Average
sqft:
1,322
low | high
Med:
1,824
12.027231467474% of Average
$ / sqft:
$408
low | high
Med:
$288
79.404477101846% of Average
On site:
19
low | high
Med:
71
26.760563380282% of Average
Sourced by Back At You
Listing Updated: September 14, 2026 at 5:25:02 AM PDT