3235 South Bay Road NEOlympiaWA98506
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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 3235 South Bay Road NE, Olympia, WA, 98506 listed at $699,000 pairs $4,754/mo rent with a $3,421/mo payment to leave $552/mo cash flow. Total monthly income runs $4,754/mo, and annual cash flow reaches $6,629/yr on $229,971 cash to close. Return on cash invested measures 22.94% in year one, and rental yield registers 8.16% at a $699,000 basis. Equity gained on principal adds $4,511/yr, and annual property appreciation at 5% supports $193,121 by year five. Five-year ROI tracks 118.85% and total cumulative return in cash totals $273,314. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $4,754/mo property income relative to a $3,421/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1901
2 Acres lot
$N/A/sqft
No HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 98506, Olympia, WA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,575 (100%) |
| Owner Occupied HU | 5,252 (61.2%) |
| Renter Occupied HU | 3,001 (35.0%) |
| Vacant Housing Units | 322 ( 3.8%) |
| Median Home Value | $598,942 |
| Average Home Value | $672,860 |
Housing Distribution
Address Breakdown
Residential
8,579
Single Family
7,356
Multi-Family
1,223
Businesses
519
Price History
Date | Event | Price |
|---|---|---|
| 2025-06-24 | Listed for sale | $699,000 |
| 2017-11-09 | Sold | $179,000 |
| 2016-10-06 | Sold | $190,824 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-06-26 | $5872.31 | 18.79% | $524,400 | 4.40% |
| 2023-06-26 | $4943.58 | -0.25% | $502,300 | 0.86% |
| 2022-06-26 | $4955.99 | -2.12% | $498,000 | 17.01% |
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Facts & Features
General Information
- Type: SingleFamily
- Year Built: 1901
- Architectural Style: N/A
- Building Area: 2,831
- Living Area: 2,831 sqft
- Property Condition: N/A
Features & Amenities
- Heating: Fireplace, Ductless, Electric, Wood
- Cooling: Ductless
- Flooring: Ceramic Tile, Concrete, Vinyl Plank, Carpet
- Interior Features: Bath Off Primary, Ceiling Fan(s)
- Exterior Features: N/A
- Parking Features: Attached 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, Xfinity
- Sewer: Septic Tank, Company: Septic
- Water Source: Individual Well, Company: Well
- Road Surface Type: N/A
School Information
- Elementary School: South Bay Elem
- Middle School: Chinook Mid
- High School: North Thurston High
Listed by: Jessica Kammeyer • Redfin
Mls Name: NWMLS
Mls Provider:
Mls ID: #2397124
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)