Listed by RE/MAX Extra Inc., Bought with Skyline Properties, Inc.
NOT LISTED FOR SALE

620 162nd St S Unit 622 Spanaway, WA 98387

Estimated Value: $606,000 - $865,087

10 Beds
3 Baths
3,510 Sq Ft
$216/Sq Ft Est. Value

Last Sold June 13, 2024

Last sale price $850,000 $242 Per Sq Ft

Est. 11% decrease in value since last sale

Current estimated payment $4,572/month

11 Days on Market

Highlights

  • RV Access or Parking
  • Territorial View
  • Patio
  • Deck
  • No HOA
  • Ceramic Tile Flooring

About This Home

As of June 2024

Possible owner financing as low as 6.9% interest rate w/ interest only payment option available. This property offers an ideal income generating opportunity w/ 8.2 % CAP. The duplex w/ 3,450 SF, 5 bed, 2 baths & 1,770 SF EA side. Spacious living room w/ access to deck. Right unit has a complete remodel featuring: all NEW Kitchen cabinets w/ soft close drawers, NEW granite counters, NEW appliances. Bathrooms are both NEW w/ cabinets and granite counters. NEW flooring thru-out, NEW paint, NEW roof, plumbing with Pex. There is a large back yard, lots of parking & NEW water meters. Use to be a 4 plex and years ago was converted to a duplex, it could be converted back. Close to all amenities, schools, parks & stores 1 block from Spanaway Lake.

Last Agent to Sell the Property

Don Goethals

RE/MAX Extra Inc. License #5573 Listed on: 05/02/2024

RE/MAX Extra Inc.

Last Buyer's Agent

Veronika Stearns

Skyline Properties, Inc. License #130023

Skyline Properties, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2232105

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,626

Year Built

  • Built in 1972 | Remodeled

Lot Details

  • 0.26 Acre Lot
  • Property is Fully Fenced

Home Design

  • Duplex
  • Block Foundation
  • Poured Concrete
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 3,510 Sq Ft Home
  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Laminate
  • Ceramic Tile

Parking

  • 8 Parking Spaces
  • Open Parking
  • RV Access or Parking

Outdoor Features

  • Deck
  • Patio

Schools

  • Spanaway Jnr High Middle School
  • Spanaway Lake High School

Utilities

  • Forced Air Heating System
  • Heating System Mounted To A Wall or Window
  • Septic Tank
  • High Speed Internet
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Spanaway Lake Condos
  • Spanaway Lake Subdivision

Listing and Financial Details

  • Assessor Parcel Number 5025005630

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,626

Year Built

Built in 1972 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1972
  • Buyer Agency Compensation: 2.5
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: Spanaway Lake
  • New Construction: No
  • CalculatedSquareFootage: 3510
  • EffectiveYearBuiltSource: Public Records
  • Special Features: None

Interior Features

  • Possible Use: Multi-Family
  • Possible Bedrooms: 10
  • Fireplace: No
  • Flooring: Ceramic Tile, Laminate, Carpet
  • Interior Amenities: Ceramic Tile, Laminate, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0

Exterior Features

  • Roof: Composition
  • View: Territorial
  • Lot Features: Paved
  • View: Yes
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Block, Poured Concrete
  • Property Condition: Remodeled
  • Structure Type: Duplex
  • ConstructionMethods: Standard Frame

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 8
  • Open Parking: Yes
  • Parking Features: RV Parking
  • Total Parking Spaces: 8
  • ParkingUncoveredSpaces: 8

Utilities

  • Sewer: Septic Tank
  • Water Source: Community
  • Security: PartiallyFenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air, Wall Unit(s)
  • Heating Yn: Yes
  • PowerCompany: Elmhurst
  • SewerCompany: Septic
  • WaterCompany: Spanaway
  • WaterSewerGarbage: 0

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Junior High Dist: Bethel
  • High School: Spanaway Lake High
  • Middle Or Junior School: Spanaway Jnr High

Lot Info

  • Parcel Number: 5025005630
  • Lot Size Acres: 0.2583
  • Lot Size Sq Ft: 11250
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Fully,High Speed Internet,Patio,RV Parking
  • MLSLotSizeSource: Realist
  • MLSSquareFootageSource: Realist
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family

Green Features

  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 12.2
  • LeasedItems: None
  • TotalMonthlyIncome: 5800

Multi Family

  • Gross Scheduled Income: 69600
  • Net Operating Income: 62294
  • Number Of Units Total: 2
  • Insurance Expense: 680
  • Leasable Area: 3510
  • EnergySource: Electric
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2024
  • Tax Annual Amount: 6626

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 2, 2024
Closed on
Jun 11, 2024
Sold by
Makayev Alan
Bought by
Martinez Andres and Fructuoso Daniel A
Seller's Agent
Don Goethals
RE/MAX Extra Inc.
Buyer's Agent
Veronika Stearns
Skyline Properties, Inc.
List Price
$850,000
Sold Price
$850,000
Views
6
Current Estimated Value
$758,272

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$91,728
Avg. Annual Appreciation
-2.92%
Original Mortgage
$834,604
Outstanding Balance
$825,775
Interest Rate
7.22%
Mortgage Type
FHA
Estimated Equity
-$7,907

Purchase Details

Closed on
Jun 13, 2013
Sold by
Eastside Funding Llc
Bought by
Makayev Alan

Purchase Details

Closed on
Jun 7, 2013
Sold by
Cureton Samuel
Bought by
Makayev Alan and Eastside Funding Llc

Purchase Details

Closed on
Dec 2, 2005
Sold by
Olvera Teri
Bought by
Cureton Samuel J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$236,400
Interest Rate
6.14%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Nov 17, 2003
Sold by
Connelly Cynthia
Bought by
Hawkins Teri

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$202,500
Interest Rate
7.75%
Mortgage Type
Purchase Money Mortgage
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
Martinez Andres $850,000 Chicago Title
Makayev Alan -- None Available
Makayev Alan $150,100 None Available
Cureton Samuel J $295,500 Chicago Title Insurance Co
Hawkins Teri $225,000 Fidelity National Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Martinez Andres $834,604
Previous Owner Cureton Samuel J $236,400
Previous Owner Hawkins Teri $202,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/13/2024 06/13/24 Sold $850,000 0.0% $242 / Sq Ft
05/13/2024 05/13/24 Pending -- -- --
05/02/2024 05/02/24 For Sale $850,000 -- $242 / 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
2025 $6,626 $607,000 $199,300 $407,700
2024 $6,626 $623,300 $190,100 $433,200
2023 $6,626 $570,100 $173,600 $396,500
2022 $6,314 $603,700 $173,600 $430,100
2021 $5,815 $414,100 $100,600 $313,500
2019 $4,124 $350,200 $85,300 $264,900
2018 $4,489 $339,100 $76,500 $262,600
2017 $4,032 $287,500 $64,200 $223,300
2016 $3,759 $257,600 $48,800 $208,800
2014 $2,976 $222,500 $47,900 $174,600
2013 $2,976 $189,300 $41,900 $147,400
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2232105

Northwest Multiple Listing Service (NWMLS)

APN: 502500-5630