NOT LISTED FOR SALE

505 Summit Lake Shore Rd NW Unit D Olympia, WA 98502

Estimated Value: $309,000 - $372,000

1 Bed
1 Bath
932 Sq Ft
6,098 Sq Ft Lot

Last Sold May 05, 2021

Last sale price $285,000 $306 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $2,075/month

9 Days on Market

Highlights

  • Lake View
  • Thurgood Marshall Middle School Rated A-
  • Wall to Wall Carpet

About This Home

As of May 2021

Welcome to Summit Lake! Enjoy all the benefits of living lakeside in this 1 bedroom, 1 bathroom and 932 sqft condominium unit. Only 4 units in this development. Perfect place for a get-a-way retreat or call it home year round. Floor plan is ideal for taking advantage of the views. Kitchen overlooks the living room and wood fireplace. French doors lead to a very private covered wrap around deck. Allows for year round use. Large bedroom and closet space. Washer/Dryer room has ample storage. Newer dock! Community storage boat house on the water for all the water toys. Boat launch within .5 mile. Ideal for boating, water skiing, fishing, swimming, kayaking & paddle boarding.

Last Agent to Sell the Property

Mark Bergman

Windermere Prof Partners License #71778 Listed on: 03/12/2021

Windermere Prof Partners

Last Buyer's Agent

Roberta Rudnick

NextHome Northwest Group License #31611

NextHome Northwest Group

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: NWM1741796

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,295

Year Built

  • Built in 1976

Lot Details

  • 6,098

Property Views

  • Lake
  • Territorial

Home Design

  • Composition Roof
  • Wood Composite

Interior Spaces

  • 2-Story Property

Kitchen

  • Oven or Range
  • Microwave
  • Dishwasher

Flooring

  • Wall to Wall Carpet
  • Vinyl

Laundry

  • Dryer
  • Washer

Parking

  • Carport
  • Off-Street Parking

Listing and Financial Details

  • Assessor Parcel Number 77150400000

Community Details

Overview

  • 4 Units
  • Summit Lake Community

Pet Policy

  • Pets Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,295

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Property Type: Condominium
  • Style: 31 - Condo (2 Levels)
  • Entrance Level: Main
  • Year Built: 1976
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Floor Covering: Vinyl, Wall To Wall Carpet
  • Appliance Hookups: Cooking-Electric, Dryer-Electric, Ice Maker, Washer
  • Appliances That Stay: Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
  • Bedrooms: 1.00
  • Main Floor Bedrooms: 1
  • Bathrooms: 1.00
  • Total Full Bathrooms: 1
  • Master Bedroom: Main
  • Living Room: Main
  • Kitchen w/ Eating Area: Main
  • Estimated Sq Ft: 932

Exterior Features

  • Exterior: Wood Products
  • Roof: Composition
  • View: Lake, Territorial
  • Waterfront: Lake, No Bank

Garage/Parking

  • Numberof Assigned Spaces: 2
  • Parking Type: Carport, Off Street

Utilities

  • Heating And Cooling: Baseboard
  • Water Heater: Basement/Storage-Electric

Condo/Co-op/Association

  • Numberof Units in Building: 4
  • Numberof Units In Complex: 4
  • HOA Fees: 250
  • Community Name: Summit Lake
  • Project: Summit Lake Condominiums
  • Cats And Dogs: No Restrictions
  • Manager Contact Information: Mark Comfort
  • Common Property Features: Boat House, Dock
  • Home Owner Dues Included: Garbage, Water/Sewer, Common Area Maintenance
  • Unit Features: Balcony/Deck/Patio, End Unit, Ground Floor, Insulated Windows

Schools

  • Elementary School: Mclane Elem
  • Middle School: Marshall Middle
  • High School: Olympia High
  • School District: OLY

Lot Info

  • Lot Sq Ft: 5995
  • Parcel Number: 77150400000

Tax Info

  • Tax Amount: 2443

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 12, 2021
Closed on
Apr 27, 2021
Sold by
Horwath Jon and Horwath Angela
Bought by
Roy Brian and Roy Jocelyn
Seller's Agent
Mark Bergman
Windermere Prof Partners
Buyer's Agent
Roberta Rudnick
NextHome Northwest Group
List Price
$278,000
Sold Price
$285,000
Premium/Discount to List
$7,000
2.52%
Current Estimated Value
$328,694

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$43,694
Avg. Annual Appreciation
3.50%
Original Mortgage
$228,000
Outstanding Balance
$207,938
Interest Rate
3.1%
Mortgage Type
VA
Estimated Equity
$122,104

Purchase Details

Closed on
Jun 30, 2009
Sold by
Horwath Angela
Bought by
Horwath Jon C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,000
Interest Rate
4.79%
Mortgage Type
Unknown

Purchase Details

Closed on
Mar 10, 2001
Sold by
The Gleason Family Trust
Bought by
Huntington Garden Corp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$76,500
Interest Rate
7.12%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 12, 1997
Sold by
Ormiston Ronald L and Ormiston Neva C
Bought by
Galanti Eric M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,629
Interest Rate
8%
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
Roy Brian $285,000 Wfg Natl Ttl Co Of Wa Llc
Horwath Jon C -- Stewart Title Of Western Was
Horwath Jon C $180,000 Stewart Title Of Western Was
Huntington Garden Corp -- Transnation Title Insurance
Galanti Eric M $99,950 Thurston County Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Roy Brian $228,000
Previous Owner Horwath Jon C $144,000
Previous Owner Kennedy Patricia A $136,000
Previous Owner Huntington Garden Corp $76,500
Previous Owner Galanti Eric M $25,629
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/05/2021 05/05/21 Sold $285,000 +2.5% $306 / Sq Ft
03/21/2021 03/21/21 Pending -- -- --
03/12/2021 03/12/21 For Sale $278,000 -- $298 / 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 $3,295 $296,800 $167,100 $129,700
2023 $3,295 $297,800 $129,000 $168,800
2022 $2,827 $272,400 $111,600 $160,800
2021 $2,512 $227,400 $114,800 $112,600
2020 $2,443 $183,400 $100,500 $82,900
2019 $2,132 $174,400 $98,400 $76,000
2018 $2,018 $147,500 $86,800 $60,700
2017 $1,828 $137,800 $78,900 $58,900
2016 $1,407 $120,500 $64,100 $56,400
2014 -- $104,000 $57,200 $46,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: NWM1741796

Northwest Multiple Listing Service (NWMLS)

APN: 77150400000