Listed by City Realty, Inc., Bought with Abbey Realty Inc
NOT LISTED FOR SALE

1614 Madison Ave NW Olympia, WA 98502

Northwest Neighborhood

Estimated Value: $562,669 - $637,000

4 Beds
3 Baths
2,128 Sq Ft
$283/Sq Ft Est. Value

Last Sold September 30, 2016

Last sale price $278,000 $131 Per Sq Ft

Est. 117% increase in value since last sale

Current estimated payment $3,661/month

122 Days on Market

Highlights

  • Patio
  • High Speed Internet
  • Wood Siding
  • Jefferson Middle School Rated A
  • Partially Fenced Property
  • 4-minute walk to Garfield Nature Trail Park

About This Home

As of September 2016

Prime location in the heart of West Olympia for this duplex. Excellent rental history and below market rents. Each unit features 2 bed, 1.75 baths with laundry hook ups in each unit. Current tenants rents are $925 and $970 per month.

Last Agent to Sell the Property

Mike Conner

City Realty, Inc. License #24805 Listed on: 03/25/2016

City Realty, Inc.

Last Buyer's Agent

J. Sean Ledgerwood

Abbey Realty Inc License #123661

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 908893

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,335

Year Built

  • Built in 1968

Lot Details

  • 8,635 Sq Ft Lot
  • Partially Fenced Property
  • Property is in good condition

Home Design

  • Duplex
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2,128 Sq Ft Home
  • 1-Story Property

Flooring

  • Wall to Wall Carpet
  • Vinyl

Parking

  • 4 Parking Spaces
  • 2 Covered Spaces
  • Open Parking

Outdoor Features

  • Patio

Schools

  • Madison Elementary School
  • Jefferson Mid Middle School
  • Capital High School

Utilities

  • Natural Gas Connected
  • High Speed Internet
  • Cable TV Available

Community Details

  • Westside Subdivision

Listing and Financial Details

  • Assessor Parcel Number 85900900800

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,335

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1968
  • Buyer Agency Compensation: 2.5%
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2128
  • Special Features: VirtualTour

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

Exterior Features

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

Garage/Parking

  • Carport Y N: No
  • Covered Parking Spaces: 2
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 4
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: FullyFenced
  • Heating Yn: Yes
  • Utilities: Cable Connected, High Speed Internet, Sewer Connected, Electric, Natural Gas Connected
  • PowerCompany: Puget Sound Energy
  • SewerCompany: City of Olympia
  • WaterCompany: City of Olympia
  • WaterSewerGarbage: 0

Schools

  • Junior High Dist: Olympia
  • High School: Capital High
  • Middle Or Junior School: Jefferson Mid

Lot Info

  • Parcel Number: 85900900800
  • Lot Size Acres: 0.1982
  • Lot Size Sq Ft: 8635
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Fenced-Partially,High Speed Internet,Patio
  • MLSLotSizeSource: Realist
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric, Natural Gas

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 13
  • LeasedItems: None
  • TotalMonthlyIncome: 1895

Multi Family

  • Gross Scheduled Income: 22740
  • Net Operating Income: 19746
  • Number Of Units Total: 2
  • Insurance Expense: 659
  • Leasable Area: 2128
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2015
  • Tax Annual Amount: 2335

MLS Schools

  • Elementary School: Madison Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 25, 2016
Closed on
Sep 27, 2016
Sold by
Mccoy Kevin G and Mccoy Joanna K
Bought by
Gibson Robert B and Rawlings Sarah J
Seller's Agent
Mike Conner
City Realty, Inc.
Buyer's Agent
J. Sean Ledgerwood
Abbey Realty Inc
List Price
$290,000
Sold Price
$278,000
Premium/Discount to List
-$12,000
-4.14%
Current Estimated Value
$602,167

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$324,167
Avg. Annual Appreciation
8.92%
Original Mortgage
$272,964
Interest Rate
3.25%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 3, 2007
Sold by
Naone David K and Naone Mary O
Bought by
Mccoy Kevin G and Mccoy Joanna K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$192,500
Interest Rate
6.2%
Mortgage Type
Unknown

Purchase Details

Closed on
Mar 31, 2004
Sold by
Gomez Robert L
Bought by
Naone David K and Naone Mary O

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$114,000
Interest Rate
5.57%
Mortgage Type
Unknown

Purchase Details

Closed on
Sep 20, 1996
Sold by
Vanzanten Lois W
Bought by
Gomez Robert and Gomez Lisa
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
Gibson Robert B $277,719 First American Title
Mccoy Kevin G $285,000 Transnation Title Ins Co
Naone David K $120,000 Chicago Title Co
Gomez Robert -- First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gibson Robert B $233,284
Closed Gibson Robert B $272,964
Previous Owner Mccoy Kevin G $185,263
Previous Owner Mccoy Kevin G $192,500
Previous Owner Naone David K $150,000
Previous Owner Naone David K $25,000
Previous Owner Naone David K $114,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/30/2016 09/30/16 Sold $278,000 -4.1% $131 / Sq Ft
07/26/2016 07/26/16 Pending -- -- --
07/08/2016 07/08/16 For Sale $290,000 0.0% $136 / Sq Ft
05/17/2016 05/17/16 Pending -- -- --
03/25/2016 03/25/16 For Sale $290,000 -- $136 / 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 $5,429 $548,700 $271,600 $277,100
2023 $5,429 $519,100 $212,100 $307,000
2022 $4,274 $476,400 $198,800 $277,600
2021 $4,605 $357,600 $132,300 $225,300
2020 $4,216 $356,600 $105,500 $251,100
2019 $3,784 $318,500 $141,400 $177,100
2018 $3,826 $284,000 $109,800 $174,200
2017 $3,157 $252,500 $78,400 $174,100
2016 $2,335 $212,100 $72,100 $140,000
2014 -- $186,500 $80,900 $105,600
Source: Public Records

Agents Affiliated with this Home

  • Mike Conner

    Seller's Agent in 2016

    Mike Conner

    City Realty, Inc.

    (360) 970-4408

    1 in this area

    49 Total Sales

    Mike Conner
    Section Image
  • J. Sean Ledgerwood

    Buyer's Agent in 2016

    J. Sean Ledgerwood

    Abbey Realty Inc

    (360) 580-3354

    14 Total Sales

    J. Sean Ledgerwood
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 908893

Northwest Multiple Listing Service (NWMLS)

APN: 85900900800

Washington Thurston County Olympia 98502 Northwest

1614 Madison Ave NW, Olympia, WA

This home is located at 1614 Madison Ave NW, Olympia, WA 98502 since 25 March 2016 and is currently estimated at $602,167, approximately $282 per square foot. This property was built in 1968. 1614 Madison Ave NW is a home located in Thurston County with nearby schools including Garfield Elementary School, Jefferson Middle School, and Capital High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Multiple Listing Service (NWMLS) 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 is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. 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, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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