Four-Unit Quadplex with
For Sale
$949,900
1905 17TH St, Springfield, OR 97477
MultiFamily, Springfield, OR
Property Size3,744 SF
Lot Size0.22 Acres
Price / SF$253.71
Days on Market334
Property Features for 1905 17TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 11, Bedroom 12, Bedroom 6, Bedroom 10, Bedroom 9, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 8, Bedroom 3, Bathroom 4, Bathroom 2, Bathroom 8, Bathroom 1, Bathroom 7, Bedroom 5, Bathroom 5, Bedroom 7, Bathroom 3, Bathroom 6
Elementary school
Yolanda
Middle school
Briggs
High school
Springfield
Directions
Q St.
Subdivision
_249
Standard status
Active
APN
1534492
Size
3,744 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Description
Map & Taxlot: 17-03-25-24-03902
Tax Annual Amount
6033
Legal Description
Map & Taxlot: 17-03-25-24-03902
Utilities
Heating system
Zoned
Cooling system
Window Unit(s)
Building Details
Year built
1999
Floors in Building
2
Number of units
4
Roof type
Shingle
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Derik Bannister · License #201261238
(530) 736-7085
Added: Oct 10, 2025
Changed: Sep 7
Last Checked: Sep 8 at 6:06PM
MLS# 487334369
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This R2-zoned quadplex consists of two duplex structures containing four rental units and 3,744 square feet on 0.22 acres. Built in 1999 with Good Cents energy-efficient construction, the property features new shingle roofs, low-maintenance landscaping, zoned heating, and window unit cooling. Each unit offers a 3BR/1.5BA layout, durable finishes, and a single-car garage. All four units are currently 100% occupied.
The property is located in Springfield near shopping, schools, hospitals, and commuter routes. Autzen Stadium is approximately 9 minutes away, while the University of Oregon and Bushnell College are each approximately 12 minutes away. The R2 zoning and four-unit configuration define the property’s current residential income use.
The property is located in Springfield near shopping, schools, hospitals, and commuter routes. Autzen Stadium is approximately 9 minutes away, while the University of Oregon and Bushnell College are each approximately 12 minutes away. The R2 zoning and four-unit configuration define the property’s current residential income use.
Key Highlights
- Four total units, with each offering a 3BR/1.5BA layout
- 100% occupied across all four rental units
- 3,744 square feet on a 0.22‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,757
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$735,140
$735.1K
Cap Rate 7%
$525,100
$525.1K
Cap Rate 9%
$408,411
$408.4K
Market Conditions
NOI Build-Up for 3,744 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.2K $15.00/SF
− Vacancy
−$3.7K −$0.98/SF
EGI
$52.5K $14.03/SF
− OpEx
−$15.8K −$4.21/SF
NOI
$36.8K $9.82/SF
Area
Lane County, OR
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$735,140
Cap Rate 7%
$525,100
Cap Rate 9%
$408,411
Alternative Uses
Best Use
Multifamily LT 5
$525.1K
$459.5K – $612.6K
NOI $36,757 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$488.8K
$427.7K – $570.3K
NOI $34,217 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$947.2K
$828.8K – $1.11M
NOI $66,303 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
623
Businesses Nearby
Explore this area
Business Placement
Demographics for 97477, OR
37,602
Population
16,572
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
3,032
Density / Sq Mi
$63,574
Median Household Income
$35,645
Median Earnings
$1,176
Median Rent
$345,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex structures provide four occupied rental residences with individual garages.
Where is this quadplex located?
The property is located at 1905 17TH St Springfield, OR.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four total units, with each offering a 3BR/1.5BA layout; 100% occupied across all four rental units; 3,744 square feet on a 0.22‑acre lot
