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!
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4BEDS
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0.14ACRES
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2BATHS
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01/2 BATHS
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2,244SQFT
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$221$/SQFT
School Information
Listing courtesy of Northwest MLS as distributed by MLS GRID. Listing courtesy of Coldwell Banker Evergreen.
Mortgage Calculator is provided by BoomTown.
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!
IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Cano Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. The three tree icon refers to an NWMLS listing. Data last updated 2026-10-07T23:18:02.84. The "Days on Site" data field is calculated by BoomTown and is the number of days since the listing was originally received in our system. It is not the equivalent of "Days on Market". Based on information submitted to the MLS GRID as of 2026-10-07T23:18:02.84. 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.
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