Listed by Hometown Property Management, Bought with Olympic Sotheby's Int'l Realty
NOT LISTED FOR SALE

1200 Chestnut St SE Unit 2 Olympia, WA 98501

Downtown Olympia Neighborhood

Estimated Value: $358,908 - $583,000

4 Beds
2 Baths
1,176 Sq Ft
$397/Sq Ft Est. Value

Last Sold February 23, 2016

Last sale price $170,000 $145 Per Sq Ft

Est. 190% increase in value since last sale

Current estimated payment $3,061/month

49 Days on Market

Highlights

  • Wood Siding
  • Wall to Wall Carpet
  • 1-Story Property
  • Lincoln Elementary School Rated A-

About This Home

As of February 2016

Great investment property! Great location, Lincoln-Wash and Olympia High School and only blocks from downtown. Cute rental, each side 2 bedroom, 1 bath. Very low vacancy rate. Huge basement with lots of storage and two washer and dryer hookups. Per owners request no offers will be presented until 12/8/15.

Last Agent to Sell the Property

Tom O'neill

Hometown Property Management License #112572 Listed on: 10/19/2015

Last Buyer's Agent

Justin Hjelm

Olympic Sotheby's Int'l Realty License #102063

Olympic Sotheby's Int'l Realty

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 857109

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,827

Year Built

  • Built in 1945

Lot Details

  • 5,537 Sq Ft Lot
  • Property is in average condition

Home Design

  • Duplex
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 1,176 Sq Ft Home
  • 1-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 8 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Schools

  • Lincolnelem Elementary School
  • Wash Mid Middle School
  • Olympia High School

Utilities

  • Natural Gas Connected

Community Details

  • Olympia Subdivision

Listing and Financial Details

  • Assessor Parcel Number 69400100400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,827

Year Built

Built in 1945

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1945
  • Buyer Agency Compensation: 2.5%
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 1176
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None
  • Cumulative Days on Market: 348

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Forced Air, Wall to Wall Carpet
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • Amenities: Basement

Exterior Features

  • Roof: Composition
  • Lot Features: Curbs, Paved, Sidewalk
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Average
  • Structure Type: Duplex

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 6
  • Open Parking: Yes
  • Total Parking Spaces: 8
  • ParkingUncoveredSpaces: 6

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Utilities: Sewer Connected, Electric, Natural Gas Connected
  • PowerCompany: Puget Sound Energy
  • SewerCompany: Olympia
  • WaterCompany: Olympia
  • WaterSewerGarbage: 0

Schools

  • Junior High Dist: Olympia
  • High School: Olympia High
  • Middle Or Junior School: Wash Mid

Lot Info

  • Parcel Number: 69400100400
  • Lot Size Acres: 0.1271
  • Lot Size Sq Ft: 5537
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Thurston County Assessor
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric, Natural Gas

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 10
  • LeasedItems: Water Tank
  • TotalMonthlyIncome: 1325

Multi Family

  • Gross Scheduled Income: 15900
  • Net Operating Income: 11357
  • Number Of Units Total: 2
  • Insurance Expense: 605
  • Leasable Area: 1176
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 3

Tax Info

  • Year: 2015
  • Tax Annual Amount: 1827

MLS Schools

  • Elementary School: LincolnElem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 19, 2015
Closed on
Feb 24, 2016
Sold by
Umino John A and Umino Patricia A
Bought by
Larson Ronald D
Seller's Agent
Tom O'neill
Hometown Property Management
Buyer's Agent
Justin Hjelm
Olympic Sotheby's Int'l Realty
List Price
$159,000
Sold Price
$170,000
Premium/Discount to List
$11,000
6.92%
Current Estimated Value
$493,286

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$323,286
Avg. Annual Appreciation
11.78%
Original Mortgage
$110,000
Outstanding Balance
$51,306
Interest Rate
3.97%
Mortgage Type
New Conventional
Estimated Equity
$436,212

Purchase Details

Listed on
Oct 19, 2015
Closed on
Feb 22, 2016
Sold by
Larson Ronald D
Bought by
Strickland Ralph and Fuller Ninamaria K
Seller's Agent
Tom O'neill
Hometown Property Management
Buyer's Agent
Justin Hjelm
Olympic Sotheby's Int'l Realty
List Price
$159,000
Sold Price
$170,000
Premium/Discount to List
$11,000
6.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Outstanding Balance
$51,306
Interest Rate
3.97%
Mortgage Type
New Conventional
Estimated Equity
$436,212
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Larson Ronald D -- Chicago Title Company
Strickland Ralph $169,719 Chicago Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Strickland Ralph $110,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/23/2016 02/23/16 Sold $170,000 +6.9% $145 / Sq Ft
12/08/2015 12/08/15 Pending -- -- --
10/19/2015 10/19/15 For Sale $159,000 -- $135 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $4,037 $445,500 $271,600 $173,900
2023 $4,037 $385,800 $198,000 $187,800
2022 $3,033 $343,600 $175,900 $167,700
2021 $3,161 $253,500 $115,200 $138,300
2020 $3,022 $244,600 $107,200 $137,400
2019 $2,519 $228,100 $128,300 $99,800
2018 $2,671 $198,200 $104,100 $94,100
2017 $2,100 $167,750 $62,250 $105,500
2016 $1,827 $162,750 $94,350 $68,400
2014 -- $145,800 $99,600 $46,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 857109

Northwest Multiple Listing Service (NWMLS)

APN: 69400100400