™by The Broker Team$495,000
Active101 2nd Ave NW, Olympia, WA 98512
Photos are on the wayWant a look sooner? Enrique can send photos or set up a video walkthrough.
REPORTED FEATURES
Why you might love it
YOUR SEARCH
Why it matched
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TAKE A CLOSER LOOK
Reasons to see it in person
- Listed Aug 27
- Feel the single-level layout in person
- Explore the layout of the 5,935 sq ft lot
YOUR NEXT CHAPTER
Be ready when you find the one
- ✓Search
- 2Narrow
- 3Pre-approval
- 4Tour
- 5Offer
You’re taking a closer look. A licensed loan officer can help you prepare for the next step.
Mortgage Lending Group · Company NMLS 1157983 · Enrique Pelayo Jr. NMLS 131435
THE FACTS
Home details
Interior
- Bedrooms
- 4
- Bathrooms
- 2
- Interior area
- 1,322 sq ft
- Levels
- One
- Flooring
- Laminate, Vinyl
- Appliances
- Refrigerator, See Remarks
- Fireplaces
- 0
Other features
Exterior & lot
- Home type
- House
- Year built
- 1930
- Lot size
- 5,935 sq ft
- Exterior
- Wood, Wood Products
- Roof
- Composition
- Foundation
- Block, Concrete Ribbon
Parking
- Parking spaces
- 1
- Parking features
- Detached Carport
Systems
- Heating
- Wall Furnace
- Cooling
- None
- Water
- Public
- Sewer
- Sewer Connected
- Energy
- Electric
Taxes & HOA
- Annual property tax
- $2,977 (2025)
- Monthly HOA
- $0
FROM THE LISTING
About this home
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!
AROUND THE HOME
Nearby places
© OpenStreetMap contributors. Straight-line distances are estimates; routes and opening hours may differ.
MLS SCHOOL INFORMATION
Schools
Tumwater School District
Elementary: Tumwater Hill Elem
Middle: Tumwater Mid
High: A G West Black Hills
School assignments can change. Confirm with the district before you decide. No ratings or rankings are provided.
CURRENT CITY LISTINGS
Market snapshot
Olympia
City-wide active listings in our approved IDX feed · 10/12/2026, 9:58:26 PM Pacific.
KEEP EXPLORING
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Built in 1930 · About 96 years old.