Investor Alert! Exceptional opportunity with endless potential on nearly 4.5 acres. This versatile property offers multiple possibilities, from restoring the existing homes for owner occupancy and rental income to exploring future development opportunities, including potential subdivision or higher-density use (buyer to verify). The 2,055 sq. ft. rambler is ready for your vision and renovation expertise to bring it back to its original charm. The property also includes a detached 2-car garage, a 2-bedroom/2-bath manufactured home that can provide additional rental income, and two enormous shops ideal for storage, hobbies, business use, or further income potential. Mature landscaping, private well, and septic system are already in place. Conveniently located just minutes from Timberline High School, I-5 access, shopping, and amenities. Opportunities like this are rare—the potential here is substantial. Property sold AS IS. Buyer to verify all information and development potential to their satisfaction.
Active
Listed by: RE/MAX Country
$625,000
7825 Mullen Road SE, Lacey, WA 98503
3beds
2,055sqft
Single Family Residence
Built in 1976
4.21 Acres Lot
$610,300 Zestimate®
$304/sqft
$-- HOA
What's special
Mature landscapingPrivate well
- 5 days |
- 1,065 |
- 101 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Offers reviewed: Jun 23
Listed by:
Cynthia Schmier,
RE/MAX Country,
Adam Schmier,
RE/MAX Country
Source: NWMLS as distributed by MLS GRID,MLS#: 2539867
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
- Main level bathrooms: 2
- Main level bedrooms: 3
Primary bedroom
- Level: Main
Bedroom
- Level: Main
Bedroom
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Main
Dining room
- Level: Main
Entry hall
- Level: Main
Kitchen with eating space
- Level: Main
Living room
- Level: Main
Utility room
- Level: Main
Heating
- Fireplace, Heat Pump, Electric, Natural Gas
Cooling
- Heat Pump
Appliances
- Included: Dishwasher, Disposal, Refrigerator, Dishwasher(s), Garbage Disposal, Refrigerator(s), Water Heater: Electric, Water Heater Location: Laundry
Features
- Bath Off Primary, Dining Room
- Flooring: Laminate, Carpet
- Windows: Dbl Pane/Storm Window
- Basement: None
- Number of fireplaces: 1
- Fireplace features: Gas, Main Level: 1, Fireplace
Interior area
- Total structure area: 2,055
- Total interior livable area: 2,055 sqft
Property
Parking
- Total spaces: 12
- Parking features: Attached Garage, Off Street, RV Parking
- Has attached garage: Yes
- Covered spaces: 12
Features
- Levels: One
- Stories: 1
- Entry location: Main
- Patio & porch: Bath Off Primary, Dbl Pane/Storm Window, Dining Room, Fireplace, Walk-In Closet(s), Water Heater
- Has view: Yes
- View description: Territorial
Lot
- Size: 4.21 Acres
- Features: Paved, Fenced-Partially, High Speed Internet, Outbuildings, RV Parking, Shop
- Topography: Level
- Residential vegetation: Garden Space, Wooded
Details
- Parcel number: 11835310300
- Zoning: LD 0-4
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: 1 Story
- Property subtype: Single Family Residence
Materials
- Wood Products
- Foundation: Block
- Roof: Composition
Condition
- Year built: 1976
- Major remodel year: 1976
Utilities & green energy
- Electric: Company: Puget Sound Energy
- Sewer: Septic Tank, Company: Septic
- Water: Individual Well, Company: Well
Community & HOA
Community
- Subdivision: Lacey
Location
- Region: Olympia
Financial & listing details
- Price per square foot: $304/sqft
- Tax assessed value: $616,100
- Annual tax amount: $4,280
- Offers reviewed: 06/23/2026
- Date on market: 6/15/2026
- Cumulative days on market: 6 days
- Inclusions: Dishwasher(s), Garbage Disposal, Refrigerator(s)
Estimated market value
$610,300
$580,000 - $641,000
$3,158/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/16/2026 | Listed for sale | $625,000$304/sqft |
Source:  NWMLS as distributed by MLS GRID #2539867 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,280 -31% | $616,100 -1.5% |
| 2023 | $6,206 +0.6% | $625,500 +1.4% |
| 2022 | $6,169 +4.3% | $616,900 +26.4% |
| 2021 | $5,915 +9.6% | $488,000 +17.8% |
| 2020 | $5,398 +19% | $414,300 +3.4% |
| 2019 | $4,535 -9.3% | $400,500 +2.2% |
| 2018 | $4,997 +19.8% | $391,700 +21.1% |
| 2017 | $4,171 | $323,550 +4.9% |
| 2016 | $4,171 | $308,500 +3% |
| 2014 | $4,171 | $299,600 +5.7% |
| 2013 | -- | $283,500 |
| 2012 | $3,461 | -- |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | $3,964 | -- |
| 2008 | -- | -- |
| 2007 | $3,864 -21.5% | -- |
| 2006 | $4,922 +61.4% | -- |
| 2005 | $3,050 | -- |
| 2004 | -- | -- |
| 2002 | -- | -- |
| 2001 | $2,965 +6.9% | $183,950 +10% |
| 2000 | $2,774 | $167,200 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.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: 98503
Nearby schools
GreatSchools rating
- 7/10Woodland Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 5/10Nisqually Middle SchoolGrades: 6-8Distance: 3.2 mi
- 6/10Timberline High SchoolGrades: 9-12Distance: 1.3 mi
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
- 98503
- 7825 Mullen Road SE
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