Rare opportunity to own a nearly 5-acre cleared homesite just minutes from town! Finding a parcel of this size, quality, and location is becoming increasingly difficult. Most of the legwork has already been completed, including conditional site approval for a 2,500± sq. ft. home, making it easier to bring your vision to life. Well and power are already on site, saving valuable time and expense. Enjoy beautiful territorial views, abundant natural light, and the peace of mind that comes with perpetual privacy. Located within the highly desirable Tumwater School District, this property offers the perfect balance of rural tranquility and everyday convenience. Whether you're ready to build now or planning for the future, this is an exceptional opportunity to create your dream home in a setting that is truly hard to replicate.
Active
Listed by: Capitol Real Estate LLC
$298,500
5142 Palermo Rosa Lane SW, Olympia, WA 98512
--beds
--baths
4.73Acres
Unimproved Land
Built in ----
4.73 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Abundant natural lightBeautiful territorial viewsPerpetual privacy
- 2 days |
- 161 |
- 11 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Justin W Hjelm,
Capitol Real Estate LLC
Source: NWMLS as distributed by MLS GRID,MLS#: 2543790
Facts & features
Interior
Features
- Has fireplace: No
Interior area
- Total structure area: 0
Property
Lot
- Size: 4.73 Acres
- Features: Corner Lot
Details
- Parcel number: 12730230700
- Zoning description: Residential,Jurisdiction: County
- Special conditions: Standard
Utilities & green energy
- Electric: On Property
- Gas: Not Available
- Sewer: Not Available, Septic Design Applied
- Water: Drilled Well
- Utilities for property: Electricity Connected, Septic Design Applied
Community & HOA
Community
- Subdivision: Olympia
Location
- Region: Olympia
Financial & listing details
- Tax assessed value: $169,600
- Annual tax amount: $1,749
- Date on market: 6/23/2026
- Cumulative days on market: 3 days
- Listing terms: Conventional
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/24/2026 | Listed for sale | $298,500+29.8% |
Source:  NWMLS as distributed by MLS GRID #2543790 Report a problem | ||
| 6/30/2006 | Sold | $230,000 |
Source: NWMLS as distributed by MLS GRID #26063375 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $1,749 -8.5% | $169,600 -7.3% |
| 2023 | $1,913 +73.2% | $183,000 +65.3% |
| 2022 | $1,104 -23.8% | $110,700 -4.1% |
| 2021 | $1,450 -2.6% | $115,400 +7.6% |
| 2020 | $1,488 +26.4% | $107,200 +0.8% |
| 2019 | $1,177 +2.1% | $106,300 +21.5% |
| 2018 | $1,154 +6.5% | $87,500 -0.3% |
| 2017 | $1,083 | $87,750 +25.8% |
| 2016 | $1,083 | $69,750 |
| 2014 | $1,083 | $69,750 +3.3% |
| 2013 | -- | $67,550 |
| 2012 | $999 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $985 | -- |
| 2008 | -- | -- |
| 2007 | $950 +63.2% | -- |
| 2006 | $582 +54.1% | -- |
| 2005 | $378 | -- |
| 2002 | -- | -- |
| 2001 | $329 -2.5% | $18,700 |
| 2000 | $337 | $18,700 |
Find assessor info on the county website
Monthly payment
Estimated monthly payment$1,822
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 98512
Nearby schools
GreatSchools rating
- 6/10Littlerock Elementary SchoolGrades: PK-5Distance: 2.4 mi
- 7/10George Washington Bush Middle SchoolGrades: 6-8Distance: 3.9 mi
- 8/10Tumwater High SchoolGrades: 9-12Distance: 5.2 mi
Schools provided by the listing agent
- Elementary: Littlerock Elem
- Middle: George Wash Bush Mid
- High: Tumwater High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Washington
- Thurston County
- Olympia
- 98512
- 5142 Palermo Rosa Lane SW
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