This home's estimate is 17.9% higher than the average sale price ($510K) of 6 comparable homes.
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4720 - 4722 Carpenter Rd SE, Olympia, WA 98513
About this home
Fantastic duplex ready for owner occupant or investor! One side has been thoroughly remodeled and is ready for occupancy. Fresh paint, new flooring, new cabinets/countertops, new tub/shower, mini-split and more. This duplex is the perfect kind of long term real estate investment, units are always rented, vacancy is low. The garages divide the units for noise privacy. Washer/dryer hookup are in the garages. Efficient floor plan w/ 2 bedrooms and 1 bath on each side. Vacant side proforma at $1750 per month, long term tenant in occupied side with room for rent increase over time. Good location for JBLM commuters, near bus line for easy transportation. A real gem!

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Market trends in 98513, WA
Last updated August 2026
Buyer's Market
Seller's Market
Seller's market
+0.0% MoM
- OPEN SUN, 12PM TO 2PM
- NEW 21 HRS AGO$1,350,0006 beds3 baths2,048 sq ft8623 Steilacoom Rd SE, Olympia, WA 98503Jared English • Congress Realty, Inc
- NEW 25 HRS AGO$799,9003 beds2.5 baths1,978 sq ft9734 65th Ln SE, Olympia, WA 98513Brian Bradley • BHGRE - Northwest Home Team
- $1,350,0004 beds2 baths2,048 sq ft8623 SteilaCoom Rd SE Unit A-B, Olympia, WA 98513Andrew English • Congress Realty
- $550,0004 beds2.5 baths2,201 sq ft7026 Inlay St SE, Lacey, WA 98513Cal Farrah • Premier Real Estate Partners
- $520,0003 beds2.5 baths2,146 sq ft5816 Pennsylvania St SE, Lacey, WA 98513Kristin Schafer • NextHome South Sound
- VIDEO TOUR$759,0003 beds2.5 baths3,056 sq ft9245 Piperhill Dr SE, Olympia, WA 98513Vasi Nemes Jr • 206 REALTY LLC
- VIDEO TOUR$439,9003 beds2.5 baths1,890 sq ft6608 Riviera Ct SE, Olympia, WA 98513Jeanne Tranum • Coldwell Banker Evergreen
- CONTINGENT$589,0002 beds2 baths1,634 sq ft9108 Schmitz Ct SE, Olympia, WA 98513Nicolas Lind • Commencement Bay Brokers LLC
- $335,0002 beds2 baths1,068 sq ft6037 Illinois Ln SE Unit C, Lacey, WA 98513Marsha Bhatt • Keller Williams South Sound
See all
Provided by Redfin
Sale history for 4720 - 4722 Carpenter Rd SE
$353/sq ft
$353/sq ft
$160/sq ft
$166/sq ft
$170/sq ft
$81/sq ft
$43/sq ft
Tax history for 4720 - 4722 Carpenter Rd SE
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Property details
Parking
- Parking Information
- Parking Uncovered Spaces: 2
- Covered Spaces: 2
- Open Parking Spaces: 2
- Garage Square Feet: 576
- Has Open Parking
Interior
- Bedroom Information
- Bedrooms Possible: 4
- Heating & Cooling
- Has Heating
- Heating Information: Baseboard, Ductless
- Has Cooling
- Interior Features
- Flooring: Vinyl, Vinyl Plank, Carpet
- Multi-Family Financial Information
- Insurance Expense: $1,583
- Other Expense: $696
- Net Operating Income: $34,104
- Gross Adjusted Income: 696
- Gross Scheduled Income: $34,800
- Total Monthly Income: 34800
- Gross Rent Multiplier: 15.8
- Total Expenses: 7546
- Multi-Unit Information
- Units Below Grade: false
- Units In Building Total: 2
- Vacancy Rate: 2
- # of Units (Total): 2
- Unit Type 1 Information
- Unit Name: 4720
- Range/Oven: true
- Washer/Dryer: false
- Refrigerator: true
- Dishwasher: true
- Unit Sq. Ft.: 780
- Actual Rent: $1,150
- Unit Type 2 Information
- Unit Name: 4722
- Range/Oven: true
- Washer/Dryer: false
- Refrigerator: true
- Dishwasher: true
- Unit Sq. Ft.: 780
- Actual Rent: $1,750
Exterior
- Building Information
- Construction Materials: Wood
- Roof: Composition
- Exterior Features
- Exterior Features: Wood
- Property Information
- Energy Source: Electric
- Style Code: 52 - Duplex
- Property Type: Residential Income
- Property Sub Type: Multi Family
- Property Condition: Good
- Has View
- Land Information
- Possible Use: Residential
- Lot Information
- Lot Number: 1
- MLS Lot Size Source: Public Records
- Site Features: Cable TV,Fenced-Partially,High Speed Internet
- Zoning Jurisdiction: County
- Lot Features: Corner Lot, Curbs, Dead End Street, Paved, Sidewalk
- Lot Size Units: Square Feet
- Lot Size Acres: 0.26
- Lot Size Dimensions: 136x86
- Elevation Units: Feet
Financial
- Tax Information
- Tax Annual Amount: $4,667
- Tax Year: 2025
- Financial Information
- Listing Terms: Cash Out, Conventional, FHA, VA Loan
- Buyer Financing: VA
Utilities
- Utility Information
- Water Source: Public
- Water Company: City of Lacey
- Power Company: PSE
- Sewer: Septic Tank
- Sewer Company: on site septic
- Water Sewer Garbage: 600
- Cable Connected: buyer to verify
- Internet Connected: buyer to verify
Location
- School Information
- Elementary School: Woodland Elem
- Middle Or Junior High School: Nisqually Mid
- High School: Timberline High
- High School District: North Thurston
- Location Information
- Directions: From Ruddell Road, East on Mullen to Right on Carpenter to duplex on left.
- Community Information
- Amenities: Thermal Windows
Public facts
- Beds: 4
- Baths: 2.0
- Sq. Ft.: 1,560
- Stories: 1.0
- Lot Size: 0.26 acres
- Style: Multi-Family (2-4 Unit)
- Year Built: 1977
- Year Renovated: 1991
- County: Thurston County
- APN: 11835230401
Other
- Listing Information
- Buyer Brokerage Compensation: 2.0
- Buyer Brokerage Compensation Type: %
- Mls Status: Sold
- Listing Date Information
- On Market Date: Tuesday, May 6, 2025
- Green Information
- Green Energy Efficient: Thermal Windows
- Power Production Type: Electric
- Home Information
- Living Area Units: Square Feet
- Calculated Square Footage: 1560
- MLS Square Footage Source: Public Records
- Building Area Total: 1560
- Building Area Units: Square Feet
- Foundation Details: Poured Concrete
- Building Name: SS-0416
- Year Built Effective: 1991
- Effective Year Built Source: Public Records
- Structure Type: Duplex
- Stories Total: 1
Around this home
Schools
Public PreK-5 • Assigned • 0.2mi
Public 6-8 • Assigned • 3.1mi
Public 9-12 • Assigned • 0.9mi
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
Minimal risk of a flood reaching the building in the next 30 years
Unlikely to be in a wildfire in next 30 years
7 days above 88° expected this year, 14 days in 30 years
Minimal risk of severe winds over next 30 years
7 unhealthy days expected this year, 8 days in 30 years
Sun exposure
In this area, properties receive around 8.8 hours in June and 1.8 hours in December, placing it below the U.S. average for solar exposure.
Nearby similar homes
New listings for sale in 98513
Home values near 4720 - 4722 Carpenter Rd SE
| Address | Redfin Estimate |
|---|---|
4 Beds | 2 Baths | 1560 Sq. Ft. | $502,475 |
3 Beds | 2 Baths | 1664 Sq. Ft. | $487,923 |
| Address | Redfin Estimate |
|---|---|
4 Beds | 2 Baths | 1560 Sq. Ft. | $420,834 |
3 Beds | 2.5 Baths | 1498 Sq. Ft. | $409,347 |
| Address | Redfin Estimate |
|---|---|
3 Beds | 2 Baths | 946 Sq. Ft. | $439,800 |
3 Beds | 2 Baths | 1240 Sq. Ft. | $440,741 |
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