Property Details
1601 131st Drive NE
Lake Stevens, WA 98258
$875,000
Active
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Property Overview
Rare Lake Stevens Duplex Investment Opportunity! Whether you're looking to expand your investment portfolio or live in one unit while generating rental income from the other, this well-maintained duplex offers exceptional flexibility and value. Each spacious unit features 3 bedrooms, 2.5 bathrooms, approximately 1,400 square feet, oversized primary suites with walk-in closets, oak cabinetry, cozy gas fireplaces, and fully fenced private yards. Capital improvements provide peace of mind, including a new furnace and new water heaters, while gutter guards help minimize exterior maintenance. The right-side unit boasts an expansive backyard complete with a patio and sprinkler system—perfect for outdoor entertaining or relaxing. Ideally located within walking distance of Lake Stevens waterfront, the popular Farmers Market, and the charm of Historic Downtown Lake Stevens, this property offers an unbeatable combination of convenience, lifestyle, and strong rental appeal. A turnkey opportunity in a highly desirable location with excellent long-term investment potential.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Snohomish
Neighborhood
Lake Stevens
Listed
Aug 3, 2026
Structure Type
Duplex
Parcel Number
29060900307000
Tax & HOA
Annual Property Tax
$8,095 (2026)
Est. Monthly Tax
$675/mo
Financial Summary
Cap Rate
5.00%
Net Operating Income
$44,829
Gross Scheduled Income
$54,782
Gross Rent Multiplier
15.90
Total Expenses
$9,953
Building & Use
Building Sq Ft
2,778
Leasable Area
2,778 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
11,326 sqft
Year Built
1998
Exterior & Lot
Lot Size
0.26 sqft
Year Built
1998
Garage
4 spaces
Exterior Materials
Cement Plank
Sewer
Sewer Connected
Water Source
Public
Lot Features
Cul-De-Sac
Exterior Features
Cement Planked
Community & Access
Directions
GPS Is Accurate
Location
City
Lake Stevens
County
Snohomish
Coordinates
48.01195, -122.05365
Additional Information
Tax Year
2026
Annual Taxes
$8,095
Possession
Array
Based on information submitted to the MLS GRID as of August 6, 2026 10:00 PM. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
