Renovated Two-Unit
For Sale
$489,900
1340 1340/1342 Q St, Springfield, OR 97477
Two occupied residences offer updated interiors, attached garages, and washer/dryer hookups.
Property Size2,145 SF
Price / SF$228.39
Days on Market61
Property Features for 1340 1340/1342 Q St
General Information
Standard status
Active
Size
2,145 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
1977
Buildings
1
Listing Agency:
ICON Real Estate Group
Listed By:
Sandra Boyst · License #201208715
(541) 915-2080
Source:
Switzerrealestategroup
Added: Aug 19
Changed: Oct 4
Last Checked: Oct 16 at 2:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ICON Real Estate Group
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Investment Insights
Based on property information with market context.
This 2,145-square-foot duplex contains two three-bedroom, one-and-a-half-bath residences, each with an attached garage. Both units are occupied and include a built-in dishwasher, freestanding refrigerator, range, and washer/dryer hookups. Interior improvements include updated cabinets, windows, doors, carpet, and luxury vinyl plank flooring in the kitchens and bathrooms.
Unit 1340 was updated in April 2025, while Unit 1342 was renovated around 2021. Both leases extend through March 31, 2027. Built in 1977, the property sits in a cul-de-sac at 1340/1342 Q St in Springfield, near shopping, dining, and everyday amenities.
Unit 1340 was updated in April 2025, while Unit 1342 was renovated around 2021. Both leases extend through March 31, 2027. Built in 1977, the property sits in a cul-de-sac at 1340/1342 Q St in Springfield, near shopping, dining, and everyday amenities.
Key Highlights
- 2,145 SF duplex with two 3‑bedroom, 1.5‑bath units
- Both units have leases through March 31, 2027
- Unit 1340 was fully updated in April 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,059
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,180
$421.2K
Cap Rate 7%
$300,843
$300.8K
Cap Rate 9%
$233,989
$234.0K
Market Conditions
NOI Build-Up for 2,145 SF
Gross rent
$32.2K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$30.1K $14.03/SF
− OpEx
−$9.0K −$4.21/SF
NOI
$21.1K $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 Rate 5%
$421,180
Cap Rate 7%
$300,843
Cap Rate 9%
$233,989
Alternative Uses
Best Use
Multifamily LT 5
$300.8K
$263.2K – $351.0K
NOI $21,059 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$280.1K
$245.1K – $326.7K
NOI $19,604 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$542.7K
$474.8K – $633.1K
NOI $37,986 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
645
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer updated interiors, attached garages, and washer/dryer hookups.
Where is this duplex located?
The property is located at 1340 1340/1342 Q St Springfield, OR.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2,145 SF duplex with two 3‑bedroom, 1.5‑bath units; Both units have leases through March 31, 2027; Unit 1340 was fully updated in April 2025
