Brand-New Duplex with
For Sale
$650,000
231 S 41ST Pl, Springfield, OR 97478
MULTI_FAMILY - Springfield, OR
Property Size2,680 SF
Lot Size0.17 Acres
Price / SF$242.54
Days on Market113
Property Features for 231 S 41ST Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R2
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3
Elementary school
Douglas Gardens
Middle school
Agnes Stewart
High school
Springfield
Directions
S on 42nd, R on Bluebelle, R on 41st Pl.
Subdivision
_239
Standard status
Active
APN
1836475
Size
2,680 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
17-02-32-33-10300
Tax Annual Amount
927
Legal Description
17-02-32-33-10300
Utilities
Heating system
Ductless (Heating)
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Elite Realty Professionals
(541) 484-6000
Listed By:
Jamie Paddock · License #200703411
(541) 484-6000
Added: Apr 9
Changed: Jul 28
Last Checked: Jul 30 at 8:06PM
MLS# 268522733
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.
New duplex in Springfield, Oregon with two attached units, each featuring an open floorplan. Each side includes three bedrooms, 2.5 bathrooms, and a garage, with the primary bedroom on the main level and two additional bedrooms upstairs. Interior finishes noted in the listing include stainless steel appliances, quartz countertops, and luxury vinyl plank with wall-to-wall carpet in the bedrooms.
Additional practical features include washer and dryer hookups, a covered deck, and a fenced backyard area for each unit. The property is offered for sale under R2 zoning.
Lot size is listed as 0.17 acres, and the overall property size is 2,680 square feet.
Additional practical features include washer and dryer hookups, a covered deck, and a fenced backyard area for each unit. The property is offered for sale under R2 zoning.
Lot size is listed as 0.17 acres, and the overall property size is 2,680 square feet.
Key Highlights
- Brand‑new duplex under construction with YearBuilt 2026 (heating: ductless)
- Each side offers an open floorplan with 3 bedrooms and 2.5 bathrooms plus a garage
- Modern finishes include stainless steel appliances and quartz countertops
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.2k | $15.00 |
| − Vacancy | −$2.6k | −$0.98 |
| EGI | $37.6k | $14.03 |
| − OpEx | −$11.3k | −$4.21 |
| NOI | $26.3k | $9.82 |
2,680 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$375.9K
$328.9K – $438.5K
NOI $26,311 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$349.9K
$306.2K – $408.2K
NOI $24,493 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$678.0K
$593.3K – $791.0K
NOI $47,460 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 97478, OR
39,155
Population
15,182
Households
2.6
Avg Household Size
40
Median Age
22%
College-Educated
92%
High-School Grad
168.4 sq mi
ZIP Area
233
Density / Sq Mi
$79,051
Median Household Income
$38,508
Median Earnings
$1,314
Median Rent
$361,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each side offers an open 3-bedroom, 2.5-bath layout with a garage, plus washer/dryer hookups.
Where is this duplex located?
The property is located at 231 S 41ST Pl Springfield, OR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Brand‑new duplex under construction with YearBuilt 2026 (heating: ductless); Each side offers an open floorplan with 3 bedrooms and 2.5 bathrooms plus a garage; Modern finishes include stainless steel appliances and quartz countertops
