Two-Unit Duplex with
For Sale
$680,000
7001 7003 Lazy Court SW, Tumwater, WA 98512
Both residences include private fenced yards, while one unit is vacant and the other is leased month to month.
Property Size2,408 SF
Price / SF$282.39
Days on Market25
Property Features for 7001 7003 Lazy Court SW
General Information
Standard status
Active
Size
2,408 SF
Total Parking Spaces
8
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,177
Amenities
fenced backyards
Wood
Wood Products
Building Details
Building Size
2,408 SF
Year Built
1996
Stories
2
Units
2
Listing Agency:
Frost Home Team
Listed By:
Stephanie Frost · License #20115297
(206) 391-5298
Source:
Frosthometeam
Added: Sep 30
Changed: Oct 23
Last Checked: Oct 23 at 3:18PM
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 Frost Home Team
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Investment Insights
Based on property information with market context.
This 1996 duplex contains two 1,204-square-foot residences, totaling 2,408 square feet. Each unit has two bedrooms, 1.5 bathrooms, a one-car garage, additional parking, and a fully fenced backyard. The vacant residence has new carpet, a refrigerator, and a range; the neighboring unit is occupied under a month-to-month lease at $2,100 per month.
Located at 7001 and 7003 Lazy Court SW in Tumwater, the property is near schools, shopping, dining, and parks, with access to major commuting routes. The unit mix provides one vacant residence and one leased residence.
Located at 7001 and 7003 Lazy Court SW in Tumwater, the property is near schools, shopping, dining, and parks, with access to major commuting routes. The unit mix provides one vacant residence and one leased residence.
Key Highlights
- Two units, each measuring 1,204 square feet; 2,408 square feet total
- Both residences have 2 bedrooms, 1.5 bathrooms, and a one‑car garage
- Fenced backyards and additional parking for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,753
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$655,060
$655.1K
Cap Rate 7%
$467,900
$467.9K
Cap Rate 9%
$363,922
$363.9K
Market Conditions
NOI Build-Up for 2,408 SF
Gross rent
$49.1K $20.40/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$46.8K $19.43/SF
− OpEx
−$14.0K −$5.83/SF
NOI
$32.8K $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%
$655,060
Cap Rate 7%
$467,900
Cap Rate 9%
$363,922
Alternative Uses
Best Use
Multifamily LT 5
$467.9K
$409.4K – $545.9K
NOI $32,753 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$431.4K
$377.5K – $503.3K
NOI $30,196 @ 7.0% cap · market cap 4.44%
Theoretical Best
Office A
$705.1K
$616.9K – $822.6K
NOI $49,354 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 98512, WA
31,422
Population
13,216
Households
2.4
Avg Household Size
41
Median Age
37%
College-Educated
95%
High-School Grad
138.7 sq mi
ZIP Area
227
Density / Sq Mi
$93,738
Median Household Income
$56,673
Median Earnings
$1,655
Median Rent
$438,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private fenced yards, while one unit is vacant and the other is leased month to month.
Where is this duplex located?
The property is located at 7001 7003 Lazy Court SW Tumwater, WA.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Two units, each measuring 1,204 square feet; 2,408 square feet total; Both residences have 2 bedrooms, 1.5 bathrooms, and a one‑car garage; Fenced backyards and additional parking for each unit
