643 School Street SE, Lacey, WA 98503

$675,000
2,600
SqFt

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Listing courtesy of Redfin.

List Price
$675,000
Status
ACTIVE
MLS#
2472540
Price Change
▼ $7,000 1784954732
Days on Market
177
Style
52 - Duplex
Building Condition
Very Good
Finished SqFt
2,600
Area Total SqFt
2600
Annual Tax Ammount
5785.66
Lot Size (sq ft)
24,335
Sewer
Septic Tank

Property Description

Big-ticket improvements are already done! This spacious Lacey duplex features newer Hardie siding, exterior paint, septic system, drain field and pumping station, taking care of several major expenses for the next owner. Each unit offers 3 bedrooms, 1.5 baths, an attached garage, private fenced yard and separate driveway, all situated on a large .56-acre lot. Whether you're looking to add a rental property to your investment portfolio or live in one side and rent the other to help offset your monthly housing costs, this property offers flexibility and long-term potential. The two 3-bedroom units provide strong rental appeal, while the separate yards and garages give each side the feel and privacy of a home. Conveniently located near shopping, schools, parks and I-5. A great opportunity to own a duplex with significant improvements already completed and the ability to add value over time.

Additional Information

List Date
2026-01-30 15:19:10
Community
Lacey
Net Operating Income
$20,676
Gross Adjusted Income
$12,924
Gross Scheduled Income
$18,420
Total Monthly Income
$1,535
Insurance Expenses
$1,353
Gross Rent Multiplier
20.98
Total Expenses
$7,138
Cap Rate
2.93
Vacancy Rate
50
Total Number of Units
2
Unit Name
643
Potential Terms
Cash, Conventional, FHA, VA Loan
Year Built
1993
View
Territorial
Roof
Composition
Site Features
Cable TV, Fenced-Fully, Outbuildings, Patio
Energy Source
Electric
School District
North Thurston
Elementary School
Buyer To Verify
Middle School
Buyer To Verify
High School
Buyer To Verify
Total Monthly Income
$1,535
Gross Scheduled Income
$18,420
Vacancy Rate
50
Gross Adjusted Income
$12,924
Tax Year
2025
Insurance Expense
$1,353
Total Expenses
$7,138
Net Operating Income
$20,676
Gross Rent Multiplier
20.98
Cap Rate
2.93
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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