NOT LISTED FOR SALE

8923 Armstrong Rd SW Olympia, WA 98512

Estimated Value: $511,000 - $630,000

5 Beds
2 Baths
2,352 Sq Ft
$235/Sq Ft Est. Value

Last Sold August 21, 2014

Last sale price $228,600 $97 Per Sq Ft

Est. 142% increase in value since last sale

Current estimated payment $3,273/month

28 Days on Market

Highlights

  • Deck
  • Patio
  • Wood Siding
  • East Olympia Elementary School Rated A-
  • Ceramic Tile Flooring

About This Home

As of August 2014

Great investment opportunity to own this duplex with a solid 6% CAP with room for growth. Keep both long-standing tenants or live in one unit and rent the other. Each unit has an open floor plan with good sized kitchens with refrigerators, washers and dryers. Upstairs unit has 3 BR, 1 BA, 1068 sf and a single-car garage. Downstairs unit has 2 BR, 1.75 BA, 1400 sf. and carport. Huge lot to garden, build your dream shop or just stretch out. Close to shopping, I-5 and Tumwater Schools.

Last Listed By

Matthew Plummer

MVP Realty Group License #23345 Listed on: 05/29/2014

MVP Realty Group

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 636645

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,297

Year Built

  • Built in 1950

Lot Details

  • 1.27 Acre Lot

Home Design

  • Duplex
  • Block Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2,352 Sq Ft Home
  • 2-Story Property

Flooring

  • Wall to Wall Carpet
  • Ceramic Tile

Parking

  • 5 Parking Spaces
  • 1 Covered Space
  • Open Parking

Outdoor Features

  • Deck
  • Patio

Schools

  • East Olympia Elementary School
  • George Wash Bush Mid Middle School
  • Tumwater High School

Utilities

  • Septic Tank
  • Septic System

Community Details

  • Olympia Subdivision

Listing and Financial Details

  • Assessor Parcel Number 12715420105

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,297

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 52 - Duplex
  • Year Built: 1950
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 2352
  • Special Features: None
  • Cumulative Days on Market: 297

Interior Features

  • Fireplace: No
  • Flooring: Ceramic Tile, Carpet
  • Interior Amenities: Forced Air, Ceramic Tile, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: No
  • Waterfront: No
  • Exterior Features: Wood
  • Foundation Details: Block
  • Structure Type: Duplex

Garage/Parking

  • Carport Spaces: 2
  • Carport Y N: No
  • Covered Parking Spaces: 1
  • Open Parking Spaces: 2
  • Open Parking: Yes
  • Total Parking Spaces: 5
  • ParkingUncoveredSpaces: 2

Utilities

  • Sewer: Septic Tank
  • Water Source: Community
  • Utilities: Septic System, Electric
  • PowerCompany: PSE
  • SewerCompany: Septic
  • WaterCompany: Community Well
  • WaterSewerGarbage: 0

Schools

  • Junior High Dist: Tumwater
  • High School: Tumwater High
  • Middle Or Junior School: George Wash Bush Mid

Lot Info

  • Parcel Number: 12715420105
  • Lot Size Acres: 1.27
  • Lot Size Sq Ft: 55321
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: Deck,Patio

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 14
  • LeasedItems: None
  • TotalMonthlyIncome: 1450

Multi Family

  • Gross Scheduled Income: 17400
  • Net Operating Income: 14303
  • Number Of Units Total: 2
  • Insurance Expense: 800
  • Leasable Area: 2352
  • UnitsInBuildingTotal: 2
  • UnitsBelowGrade: true
  • VacancyRate: 0

Tax Info

  • Year: 2014
  • Tax Annual Amount: 2297

MLS Schools

  • Elementary School: East Olympia Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 29, 2014
Closed on
Aug 18, 2014
Sold by
Cosden Timothy
Bought by
Gibb Thomas A and Gibb Dawn
Seller's Agent
Matthew Plummer
MVP Realty Group
List Price
$239,900
Sold Price
$228,600
Premium/Discount to List
-$11,300
-4.71%
Total Days on Market
28
Current Estimated Value
$552,218

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$323,618
Avg. Annual Appreciation
9.11%
Original Mortgage
$171,450
Outstanding Balance
$133,040
Interest Rate
4.12%
Mortgage Type
New Conventional
Estimated Equity
$451,955
Source: Public Records

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Range of Values:

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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
Gibb Thomas A $228,319 Chicago Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gibb Thomas A $171,450
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/21/2014 08/21/14 Sold $228,600 -4.7% $97 / Sq Ft
06/27/2014 06/27/14 Pending -- -- --
05/29/2014 05/29/14 For Sale $239,900 -- $102 / 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 $4,121 $468,400 $252,200 $216,200
2023 $4,121 $392,000 $173,200 $218,800
2022 $3,456 $322,700 $117,700 $205,000
2021 $3,830 $282,600 $121,000 $161,600
2020 $4,439 $288,000 $106,500 $181,500
2019 $3,348 $330,100 $213,500 $116,600
2018 $2,884 $207,400 $71,200 $136,200
2017 $3,143 $221,350 $97,850 $123,500
2016 $2,253 $182,000 $81,800 $100,200
2014 -- $155,950 $86,650 $69,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 636645

Northwest Multiple Listing Service (NWMLS)

APN: 12715420105