Property Details
643 School Street SE
Lacey, WA 98503
$682,000
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Property Overview
Fantastic opportunity to own a well-maintained duplex in Lacey with a strong rental history. Add to your investment portfolio or live in one side and rent the other. Each two-story unit features 3 bedrooms & 1.5 baths. Main floor living space w .5 bath, upstairs hosts bedrooms/full bath. Both units have large fenced yards, in-unit washer and dryer, a private single-car garage, and driveway parking. Ideally located, this property offers convenient access to shops, restaurants, schools, parks and freeway access. New Septic, Pumping Station & Drain field. New Hardie Plank Siding and Exterior Paint in 2023.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Thurston
Neighborhood
Lacey
Listed
Jan 30, 2026
Original Price
$698,000
Financial Summary
Cap Rate
2.93%
Net Operating Income
$20,676
Gross Scheduled Income
$18,420
Gross Rent Multiplier
20.98
Total Expenses
$7,139
Vacancy Rate
50.0%
Building & Use
Building Sq Ft
2,600
Leasable Area
2,600 sqft
Total Units
2
Lot Size
24,337 sqft
Year Built
1993
Exterior & Lot
Lot Size
0.56 sqft
Year Built
1993
Garage
2 spaces
Exterior Materials
Cement Plank, Wood
Sewer
Septic Tank
Water Source
Community
Lot Features
Corner Lot, Paved, Sidewalk
Exterior Features
Cement Planked, Wood Products
Location
City
Lacey
County
Thurston
Coordinates
47.04309, -122.78147
Additional Information
Tax Year
2025
Annual Taxes
$5,786
Possession
Array
Based on information submitted to the MLS GRID as of May 14, 2026 5:45 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.
