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About the Listing 190 - 111782
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!
Listing Highlights
Status
Active
Days on Site
3
Property Type
Residential
MLS ®
2573230
Year Built
1930
Total Square Footage
3,166
Lot/Acreage
0.14
County
Thurston
Neighborhood
Tumwater Hill
Area
443 - Tumwater
School District
Tumwater
Elementary School
Tumwater Hill Elementary
Middle School
Tumwater Middle
High School
A G West Black Hills
Interior Details
- Bedrooms: 4
- Bathrooms: 2 Full
- Appliances: Refrigerator, See Remarks, Refrigerator(s)
- Air Cond:
- Heating: Wall Furnace
- Fireplaces: 0
- Floor: Laminate,Vinyl
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s),Water Heater,Master on Main
- Water: City of Tumwater
Exterior Details
- Lot Description: Sidewalk,Built On Lot,Cable TV,Gas Available,High Speed Internet
- Garage Capacity: N/A
- Parking Spaces: 1
- Lot Dimensions: 50x119
- Roof: Composition
- Others: Wood,Wood Products,Average,Has ADU
- Sewer: City of Tumwater
- Parking Features: Detached Carport
Financial Details
- Tax Amount: $2,977
- Taxes w/Assessments: N/A
- Tax/Property ID: 80601600100
- Tax Year: 2025
Payment Calculator
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Questions About..
101 2nd Ave NW Olympia, WA 98512
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