Score
0Lacey, WA
5012 Balustrade Boulevard SE
480K
3 beds
3 baths
2,029 sqft
3 bd • 3 ba • 2,029 sf
This analysis was generated on 1/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$479,999
Price/Sq.Ft
$237
Year Built
2006
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 5012 Balustrade Boulevard SE in Lacey, WA offers excellent value at $236.57/sqft, which is significantly below the area average. With 2,029 sqft, it provides ample space compared to many homes in the area. The home, built in 2006, is relatively new and features modern amenities like stainless steel appliances and an open-concept layout. Recent updates to bathroom flooring and toilets add value. The potential for a 4th bedroom or office on the main level, plus a bonus loft upstairs, offers flexibility for various lifestyles. The two-car garage and additional driveway parking are valuable assets. The property's location near schools (with above-average ratings), shopping, and easy access to I-5 enhances its appeal. Climate risk is generally low, with minimal flood (1/10) and wind (1/10) risks, reducing potential insurance costs.
The Bad
The property has been on the market for 138 days, which is significantly above average and may indicate some challenges in selling. The price has been reduced three times since listing, suggesting initial overpricing. The air quality risk is major (6/10) with 7 bad air days per year, which could be a concern for residents with respiratory issues. The home's appreciation rate appears to be slowing, with only a 33.3% increase from 2020 to 2024, compared to the 31% increase from 2007 to 2020. The presence of an HOA, while providing some benefits like front yard maintenance, also means additional monthly costs that aren't specified in the provided data.
The Ugly
The property's fire risk is moderate (3/10), which could lead to higher insurance premiums. The estimated annual insurance cost of $1,727.99 is relatively high for a property of this value. The heat risk is moderate (3/10) with 7 hot days per year, which could necessitate increased cooling costs. The multiple price reductions and extended time on market could give buyers leverage to negotiate a lower price, potentially impacting the seller's return on investment. The lack of information about HOA fees and potential special assessments is concerning, as these could significantly impact the total cost of ownership.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Growing families or those planning to expand, given the 3 bedrooms and potential for a 4th.
2. Professionals working in Lacey or commuting to nearby areas via I-5.
3. First-time homebuyers looking for a relatively new property with modern amenities.
4. Those who value low-maintenance living, with HOA-managed front yard care.
5. Buyers with household incomes around $120,000-$140,000, based on the property price and estimated costs.
6. Individuals or families who prioritize proximity to good schools, with nearby options rated 4/10 to 8/10.
Not For
This property is not ideal for:
1. Investors looking for high rental yields, as the potential rental income ($2,520 for 3-bed) may not cover the mortgage and additional costs.
2. Those sensitive to air quality issues, given the major air quality risk (6/10).
3. Buyers looking for a bargain or distressed property, as the price reductions have been modest.
4. People who prefer older, character homes or brand new construction.
5. Those on a tight budget, as HOA fees and potential increases in property taxes could strain finances.
6. Individuals looking for a home without any HOA restrictions or fees.
Demographics
Area Median Income
$94,038
Property History
Price History
Ownership Timeline
$360,000Financed
Sep 16, 2020Jason Montgomery, Jennifer MontgomeryGabriel P Yalung, Mimilanie M Yalung
Warranty Deed
Standard Sale (Purchase/Resales)
$274,900Financed
Jun 11, 2007Trans Northwest Construction IncJason Montgomery, Jennifer Montgomery
Warranty Deed
New Construction Residential Transactions
Property Taxes
$0
2024 Tax Assessment
Assessed Value$430,200
Tax Rate0.00%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Schools
Nearby school quality by education level
Elementary
6.3/10
GoodMiddle
4.0/10
AverageHigh
8.0/10
ExcellentFinancials
Monthly Costs
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$479,999
Price/sqft
$237
Layout
3 bd•3 ba
Days on market
138 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$535,833
10.4%
Your price is 10.4% below average
Median Price
$515,000
6.8%
Based on 6 recent sales
Price per Sq.Ft
$260
9.0%
Your price is 9.0% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 5101 Balustrade Boulevard SE, Lacey, WA 98513 | $515,000 | 2,106 | 3 | 3 | $2453.4% | 11/14/2024 |
| 4206 74th Avenue SE, Olympia, WA 98501 | $645,000 | 2,149 | 3 | 3 | $30026.9% | 11/7/2024 |
| 5651 56th Loop SE, Lacey, WA 98503 | $450,000 | 1,947 | 4 | 3 | $2312.3% | 10/29/2024 |
| 5205 53rd Avenue SE, Lacey, WA 98503 | $490,000 | 1,978 | 4 | 3 | $2484.7% | 10/5/2024 |
| 6942 Fairway Lane SE, Olympia, WA 98501 | $600,000 | 1,960 | 3 | 3 | $30629.4% | 10/4/2024 |
| 6641 Axis Street SE, Lacey, WA 98513 | $515,000 | 2,246 | 4 | 3 | $2293.1% | 10/24/2024 |
5101 Balustrade Boulevard SE, Lacey, WA 98513
Price: $515,000
Sq.Ft: 2,106
Beds/Baths: 3/3
$/Sq.Ft:
$2453.4%
Sale Date: 11/14/2024
4206 74th Avenue SE, Olympia, WA 98501
Price: $645,000
Sq.Ft: 2,149
Beds/Baths: 3/3
$/Sq.Ft:
$30026.9%
Sale Date: 11/7/2024
5651 56th Loop SE, Lacey, WA 98503
Price: $450,000
Sq.Ft: 1,947
Beds/Baths: 4/3
$/Sq.Ft:
$2312.3%
Sale Date: 10/29/2024
5205 53rd Avenue SE, Lacey, WA 98503
Price: $490,000
Sq.Ft: 1,978
Beds/Baths: 4/3
$/Sq.Ft:
$2484.7%
Sale Date: 10/5/2024
6942 Fairway Lane SE, Olympia, WA 98501
Price: $600,000
Sq.Ft: 1,960
Beds/Baths: 3/3
$/Sq.Ft:
$30629.4%
Sale Date: 10/4/2024
6641 Axis Street SE, Lacey, WA 98513
Price: $515,000
Sq.Ft: 2,246
Beds/Baths: 4/3
$/Sq.Ft:
$2293.1%
Sale Date: 10/24/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results