$325,000
Est. $1,652/mo2 bd•1 ba•1,056 sq ft
1604 Fones Road Se, Olympia, WA 98501
• Listed 2026-07-15•New today
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Based on information submitted to the MLS GRID as of July 21, 2026 at 02:27pm (date and time MLS GRID Data was obtained). 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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Exceptional Investment & Development Opportunity! Situated on a prime shy half-acre parcel in a high-density zoning area, this property offers outstanding potential for investors, developers, or those seeking long-term appreciation. Ideally located along Fones Road, the property is positioned to benefit from significant infrastructure improvements currently underway, including newly constructed streets and upgraded utilities, further enhancing its future value and development potential. The existing 2-bedroom, 1-bath home is undergoing a complete renovation with quality finishes throughout, creating an attractive, move-in-ready residence or income-producing rental. Renovations include an open-concept floor plan, stylish high-end finishes, and durable luxury vinyl plank flooring throughout. Whether you're looking to generate immediate rental income while planning future development or secure a property in a rapidly improving corridor, this is a rare opportunity to capitalize on both current cash flow and future multifamily development potential.
Listed by Ken Crotts • eXp Realty
Listing updated: July 21, 2026 at 02:27pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2553249
Open houses
No upcoming open houses scheduled for this property.
Nearby open houses (1)
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Open Wed, Jul 22$399,000
+$74,000 over list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $340K and $380K.
Rental earnings
$1,200/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$340,000Last sold price
3526 17th Way Se, Olympia, WA 98501
$345,000Last sold price
3804 27th Avenue Se, Olympia, WA 98501
Estimate is a comp-supported screen, not an appraisal or broker price opinion. Ask RexMont for a property-specific pricing review before writing or accepting an offer.
1604 Fones Road Se, Olympia, WA 98501
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Neighborhood mobility
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North Thurston School District
Assigned schools for this property per the listing's MLS data. School district boundaries change — verify the exact assigned schools with the district before purchasing.
Olympia is a seller's market.
Inventory is low and competition is high. Sellers have more negotiating power.
Offer insight: Many homes get multiple offers, some with waived contingencies.
List to sale price: The average home sells very close to list price.
Time on market: Days-on-market data not available for this area.
$563,750 Sold
2 months ago
3 bd•2.5 ba•~1,764 sq ft•Single Family
3627 Joshua Way Se, Olympia, WA 98501
0%
Under list
—
Days on market
0.3 mi
Distance
$885,000 Sold
4 months ago
•Single Family
3700 Pacific Avenue Se, Olympia, WA 98501
11%
Under list
—
Days on market
0.6 mi
Distance
$799,999 Sold
4 months ago
3 bd•3 ba•~3,080 sq ft•Single Family
3014 21st Avenue Se, Olympia, WA 98501
0%
Over list
—
Days on market
0.5 mi
Distance
$340,000 Sold
4 months ago
3 bd•1 ba•~1,232 sq ft•Single Family
3526 17th Way Se, Olympia, WA 98501
1%
Under list
—
Days on market
0.1 mi
Distance
$675,000 Sold
6 months ago
4 bd•1.5 ba•~2,462 sq ft•Single Family
3621 25th Way Se, Olympia, WA 98501
0%
Over list
—
Days on market
0.6 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jul 2026
