1510 Water Street SWOlympiaWA98501
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Olympia at 1510 Water Street SW, Olympia, WA, 98501 offers a 4.17% rental yield on a $1,100,000 purchase with $3,827/mo rent. 99% in year one. Equity gained on principal adds $7,098/yr while 5% annual appreciation supports $303,910 over five years. Portfolio math shows five-year ROI at 54.69% and total cumulative return in cash at $194,911. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,827/mo property income against a $5,384/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1914
9,134 sqft lot
$N/A/sqft
No HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 98501, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 21,322 (100%) |
| Owner Occupied HU | 12,616 (59.2%) |
| Renter Occupied HU | 7,848 (36.8%) |
| Vacant Housing Units | 858 ( 4.0%) |
| Median Home Value | $574,804 |
| Average Home Value | $591,558 |
Housing Distribution
Address Breakdown
Residential
20,128
Single Family
17,521
Multi-Family
2,607
Businesses
1,559
Price History
Date | Event | Price |
|---|---|---|
| 2025-07-02 | Sold | $1,100,000 |
| 2025-06-10 | Pending sale | $995,000 |
| 2025-06-04 | Listed for sale | $995,000 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-10-12 | $8064.71 | 3.96% | $769,900 | 3.75% |
| 2023-10-12 | $7757.39 | 6.93% | $742,100 | 1.99% |
| 2022-10-12 | $7254.73 | -4.91% | $727,600 | 13.88% |
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Facts & Features
General Information
- Type: SingleFamily
- Year Built: 1914
- Architectural Style: N/A
- Building Area: 2,214
- Living Area: 2,214 sqft
- Property Condition: N/A
Features & Amenities
- Heating: Fireplace, Hot Water Recirc Pump, Radiant, Radiator, Electric, Natural Gas
- Cooling: Window Unit(s)
- Flooring: Bamboo/Cork, Hardwood
- Interior Features: Ceiling Fan(s), Dining Room
- Exterior Features: N/A
- Parking Features: Detached Garage
Location
HOA & Fees
- HOA Fee: N/A
- Association Fee: N/A
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: N/A
Utilities
- Utilities: Xfinity
- Sewer: Sewer Connected, Company: City of Olympia
- Water Source: Public, Company: City of Olympia
- Road Surface Type: N/A
School Information
- Elementary School: Pioneer Elem
- Middle School: Wash Mid
- High School: Olympia High
Listed by: Abigail Mondau • BHGRE - Northwest Home Team
Mls Name: NWMLS
Mls Provider:
Mls ID: #2387434
Disclaimer: 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 this symbol: provided by Northwest Multiple Listing Service, 2025. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. 2025 NWMLS. All rights are reserved. Disclaimer: The information contained in this listing has not been verified by Zillow, Inc. and should be verified by the buyer. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#39)