Single-Story Duplex with
For Sale
$484,000
4416 Ridgewood Court Nw A & B, Olympia, WA 98502
One residence is occupied while the second is vacant for an owner-occupant or new tenancy.
Property Size1,808 SF
Lot Size0.33 Acres
Price / SF$267.70
Days on Market78
Property Features for 4416 Ridgewood Court Nw A & B
General Information
Standard status
Active
Size
1,808 SF
Lot size
0.33 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1981
Buildings
1
Stories
1
Listing Agency:
The Rants Group
Listed By:
Jeri L Snyder · License #21035292
(360) 352-7823
Source:
Lincolnpnwteam
Added: Aug 3
Changed: Oct 8
Last Checked: Oct 19 at 8:46AM
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 The Rants Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1981, this single-level duplex contains two 2-bedroom, 1-bath residences totaling 1,808 square feet. Each unit is approximately 904 square feet and includes a kitchen equipped with a range/oven, refrigerator, and dishwasher. One unit is occupied, while the other is vacant and ready for occupancy or lease-up.
The property sits on an approximately 0.33-acre lot in a cul-de-sac setting in Olympia’s Cooper Point area, with access to local amenities, services, and transportation routes. Recent work includes a 2025 re-roof, refinished shower and replacement dryer in Unit A, updated kitchen appliances in both units, and new carpets and vinyl flooring in Unit B. Two additional duplexes in the same cul-de-sac are also offered for sale.
The property sits on an approximately 0.33-acre lot in a cul-de-sac setting in Olympia’s Cooper Point area, with access to local amenities, services, and transportation routes. Recent work includes a 2025 re-roof, refinished shower and replacement dryer in Unit A, updated kitchen appliances in both units, and new carpets and vinyl flooring in Unit B. Two additional duplexes in the same cul-de-sac are also offered for sale.
Key Highlights
- Two 2‑bedroom, 1‑bath units with approximately 904 square feet per unit
- 1,808 square feet of total living space on an approximately 0.33‑acre lot
- Unit A occupied; Unit B vacant for occupancy or lease‑up
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,592
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,840
$491.8K
Cap Rate 7%
$351,314
$351.3K
Cap Rate 9%
$273,244
$273.2K
Market Conditions
NOI Build-Up for 1,808 SF
Gross rent
$36.9K $20.40/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$35.1K $19.43/SF
− OpEx
−$10.5K −$5.83/SF
NOI
$24.6K $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%
$491,840
Cap Rate 7%
$351,314
Cap Rate 9%
$273,244
Alternative Uses
Best Use
Multifamily LT 5
$351.3K
$307.4K – $409.9K
NOI $24,592 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$323.9K
$283.4K – $377.9K
NOI $22,672 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$529.4K
$463.2K – $617.6K
NOI $37,057 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Explore this area
Business Placement
Demographics for 98502, WA
35,698
Population
15,550
Households
2.3
Avg Household Size
41
Median Age
52%
College-Educated
97%
High-School Grad
63.4 sq mi
ZIP Area
563
Density / Sq Mi
$87,154
Median Household Income
$46,404
Median Earnings
$1,569
Median Rent
$496,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied while the second is vacant for an owner-occupant or new tenancy.
Where is this duplex located?
The property is located at 4416 Ridgewood Court Nw A & B Olympia, WA.
What is the asking price?
The asking price for this property is $484,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units with approximately 904 square feet per unit; 1,808 square feet of total living space on an approximately 0.33‑acre lot; Unit A occupied; Unit B vacant for occupancy or lease‑up
