$539,000
Est. $2,785/mo4 bd•2 ba•1,322 sq ft
101 2nd Avenue Nw, Olympia, WA 98512
• Listed 2026-08-27•2 days on market
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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!
Listed by Madison Del Vigo • Coldwell Banker Evergreen
Listing updated: September 5, 2026 at 01:57pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2573230
101 2nd Avenue Nw, Olympia, WA 98512
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
Tumwater 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.
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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: The average home goes pending in around 17 days.
$360,000 Sold
8 weeks ago
•Single Family
522 H Street Sw, Tumwater, WA 98512
12%
Under list
—
Days on market
0.4 mi
Distance
$535,000 Sold
4 months ago
4 bd•2.75 ba•~2,453 sq ft•Single Family
736 G Street Sw, Tumwater, WA 98512
2%
Over list
—
Days on market
0.5 mi
Distance
$400,000 Sold
5 months ago
2 bd•1.5 ba•~1,180 sq ft•Single Family
309 Bates Street Sw, Tumwater, WA 98512
0%
Over list
—
Days on market
0.1 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 Sep 2026
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of September 5, 2026 at 01:57pm (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.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). 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 RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
© 2026 Northwest Multiple Listing Service. All rights reserved.
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Open houses
Nearby open houses (2)
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Open Tue, Sep 8$529,000
-$10,000 under list price
Nearby comparable homes
RexMont uses 5 strongest recent nearby sales, priced between $460K and $506K.
Rental earnings
$1,575/mo
Screening estimate from the comp-supported value. Verify with rent comps before underwriting.
$465,000Last sold price
782 Fenway Lane Sw, Tumwater, WA 98512
$479,000Last sold price
1025 Ebbets Drive Sw, Tumwater, WA 98512
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.
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