Open House Sat, Sep 12th 10:00 AM - 12:00 PM
Address
101 2nd Avenue Sw, Olympia, WA
Price
$ 539,000
Property Attributes
- ID#2573230
- TypeSingle Family
- CountyTHURSTON
- CityOlympia
- AreaTumwater
- NeighborhoodTumwater Hill
- Zip98512
- StyleCraftsman
- Year Built1930
- Taxes$ 2977
- Price$ 539,000
- Bedrooms4
- Full Bathrooms2
- Half Bathrooms0
- Sqr Footage1322
- Lot Size0.1362 Acres
Data Source:
Northwest Multiple Listing Service (NWMLS)
Property 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!
| Elementary School | Middle School | High School |
|---|---|---|
| Tumwater Hill Elem | Tumwater Mid | A G West Black Hills High School |
| Price History | |
|---|---|
| 8/27/2026 | Listed $539,000 |
General Features
| Living Area | 1322 |
|---|---|
| Sewer | Sewer Connected |
| Heating | Wall Furnace |
| Cooling | None |
| Possession | Closing |
| Roof | Composition |
| Appliances | Refrigerator,See Remarks |
| Architectural Style | Craftsman |
| Year Built | 1930 |
| Topography | Partial Slope |
| Levels | One |
| Property Subtype | Single Family Residence |
| Tax Year | 2025 |
| County | Thurston |
| New Construction | No |
| Property Type | Residential |
| HOA | No |
| Attached Garage | No |
| Subdivision Name | Tumwater Hill |
| Full Baths | 2 |
| Special Listing Conditions | None |
| Status | Active |
| 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 |
| High School | A G West Black Hills |
| City | Olympia |
| Entry Location | Main |
| Senior Community Y/N | No |
| High School District | Tumwater |
| MLS Area | 443 - Tumwater |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 5935 |
| Carport Spaces | 1 |
| Carport Y/N | Yes |
| Listing Terms | Cash,Conventional,FHA,VA Loan |
| Elementary School | Tumwater Hill Elem |
| Land Lease Y/N | No |
| Tax Annual Amount | 2977 |
| Middle/Junior High School | Tumwater Mid |
| Property Condition | Average |
| Public Remarks | 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. Ju |
| Structure Type | House |
| Building Area Units | Square Feet |
| Standard Status | Active |
| Water Company | City of Tumwater |
| Total Actual Rent | 4532 |
| Property Style | 10 - 1 Story |
| NWM_ShowMapLink | Yes |
Interior Features
| Interior Amenities | Ceiling Fan(s),Water Heater |
|---|---|
| Basement | None |
| Flooring | Laminate,Vinyl |
| Air Conditioning Y/N | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Total Bedrooms | 4 |
| Main Level Bedrooms | 4 |
| Total Baths | 2 |
| Water Heater Type | Electrical |
| Water Heater Location | Closet |
| Power Production Type | Electric |
| Baths Full Main | 2 |
| Bathrooms | 2 |
Exterior Features
| Exterior Amenities | Wood,Wood Products |
|---|---|
| Parking Features | Detached Carport |
| Lot Features | Sidewalk |
| Water Source | Public |
| Total Parking | 1 |
| Inclusions | Refrigerator(s),See Remarks |
| Foundation Details | Block,Concrete Ribbon |
| Building Area Total | 1322 |
| Lot Dimensions | 50x119 |
| Lot Size Acres | 0.1362 |
| Waterfront Y/N | No |
| Covered Spaces | 1 |
| Irrigation Water Rights Y/N | No |
| Site Features | Cable TV,Gas Available,High Speed Internet |
| Lot Number | 1 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 98512
Price
Taxes
Year Built
Visits
In The Neighborhood
Just Listed
Tumwater
$ 479,500
- Type
- Single Family | Active
- Size
- 2,336 SqFt
- Rooms
- 3 Beds + 2.5 Baths
Listed by: Redfin
Views
Tumwater
$ 669,000
- Type
- Single Family | Active
- Size
- 2,960 SqFt
- Rooms
- 4 Beds + 3 Baths
Listed by: Coldwell Banker Evergreen
Views
Tumwater
$ 484,999
- Type
- Single Family | Active
- Size
- 1,834 SqFt
- Rooms
- 3 Beds + 2.5 Baths
Listed by: St Clair Realty
Views
Olympia
$ 260,000
- Type
- Single Family | Active
- Size
- 546 SqFt
- Rooms
- 1 Beds + 1 Baths
Listed by: John L. Scott CNT
Reduced
Tumwater
$ 774,000
- Type
- Single Family | Active
- Size
- 3,334 SqFt
- Rooms
- 6 Beds + 3.5 Baths
Listed by: Coldwell Banker Evergreen
Water Views
Olympia
$ 625,000
- Type
- Single Family | Active
- Size
- 2,160 SqFt
- Rooms
- 3 Beds + 2.5 Baths
Listed by: Redfin
Tumwater
$ 639,000
- Type
- Single Family | Active
- Size
- 2,434 SqFt
- Rooms
- 3 Beds + 2.5 Baths
Listed by: Wilcox Real Estate
Open House
Tumwater
$ 485,000
- Type
- Single Family | Active
- Size
- 2,082 SqFt
- Rooms
- 3 Beds + 2 Baths
Listed by: Coldwell Banker Evergreen
Reduced
Tumwater
$ 634,900
- Type
- Single Family | Active
- Size
- 2,357 SqFt
- Rooms
- 3 Beds + 2.5 Baths
Listed by: North Star Realty
Reduced
Tumwater
$ 545,000
- Type
- Single Family | Active
- Size
- 1,824 SqFt
- Rooms
- 3 Beds + 2 Baths
Listed by: Networks Real Estate LLC
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The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLSTM of Portland, Oregon. Real estate listings held by brokerage firms other than Downtown Vancouver are marked with the RMLSTM logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2026 RMLSTM, Portland, Oregon.
This content last updated on September 9, 2026 4:54 PM UTC at 4 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
