Well-Maintained Duplex in Tumwater
For Sale
$510,000
261 65th Court SW #263, Olympia, WA 98501
Duplex with two units, garages, fenced yards, great location.
Property Size1,742 SF
Lot Size0.21 Acres
Days on Market392
Property Features for 261 65th Court SW #263
General Information
Standard status
Active
Size
1,742 SF
Lot size
0.21 Acres
Property subtype
Multi-Family
Amenities
Wall Unit(s)
Composition
Building Details
Building Size
1,742 SF
Year Built
1974
Stories
1
Listing Agency:
Keller Williams Puget Sound
Listed By:
Michelle Wallace · License #130293
(206) 795-9053
Source:
Kw
Added: Sep 25, 2025
Changed: Oct 13
Last Checked: Oct 21 at 12:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Puget Sound
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Investment Insights
Based on property information with market context.
This well-maintained duplex is suitable for both owner-occupants and investors. It features two mirror-image units, each containing 2 bedrooms, 1 bathroom, and an attached one-car garage. Each unit includes separately fenced yards, suitable for pets, gardening, or outdoor activities. Located in a desirable Tumwater neighborhood on a quiet cul de sac, the property offers convenient access to schools, shopping, I-5, and major employers. The property combines rental potential with the option to live in one unit and rent out the other. It offers immediate livability with long-term investment value, suitable for building a portfolio or finding a home that helps pay for itself.
Key Highlights
- Well‑maintained duplex ideal for owner‑occupants or investors.
- Two mirror‑image units, each with 2 bedrooms and 1 bathroom.
- Located in a desirable Tumwater neighborhood in a quiet cul de sac with easy access to schools, shopping and I‑5.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,694
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,880
$473.9K
Cap Rate 7%
$338,486
$338.5K
Cap Rate 9%
$263,267
$263.3K
Market Conditions
NOI Build-Up for 1,742 SF
Gross rent
$35.5K $20.40/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$33.8K $19.43/SF
− OpEx
−$10.2K −$5.83/SF
NOI
$23.7K $13.60/SF
Area
Thurston County, WA
Vacancy
4.75%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,880
Cap Rate 7%
$338,486
Cap Rate 9%
$263,267
Alternative Uses
Best Use
Multifamily LT 5
$338.5K
$296.2K – $394.9K
NOI $23,694 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$312.1K
$273.1K – $364.1K
NOI $21,845 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$510.1K
$446.3K – $595.1K
NOI $35,704 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 98501, WA
45,274
Population
19,969
Households
2.3
Avg Household Size
40
Median Age
48%
College-Educated
97%
High-School Grad
34.9 sq mi
ZIP Area
1,297
Density / Sq Mi
$95,695
Median Household Income
$55,909
Median Earnings
$1,600
Median Rent
$485,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units, garages, fenced yards, great location.
Where is this duplex located?
The property is located at 261 65th Court SW #263 Olympia, WA.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Well‑maintained duplex ideal for owner‑occupants or investors.; Two mirror‑image units, each with 2 bedrooms and 1 bathroom.; Located in a desirable Tumwater neighborhood in a quiet cul de sac with easy access to schools, shopping and I‑5.
