Three-Bedroom
For Sale
$699,000
1946 7th St, Springfield, OR 97477
MultiFamily, Springfield, OR
Property Size2,740 SF
Price / SF$255.11
Days on Market49
Property Features for 1946 7th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
Res
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
Subdivision
Hayden Bridge
Elementary school
Page
Middle school
Briggs
High school
Springfield
Directions
South of T Street behind Fred Meyer
Standard status
Active
APN
New Construction
Size
2,740 SF
Taxes and HOA fees
Tax Description
1703261302500
Legal Description
1703261302500
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
quartz countertops
stainless steel appliances
forced air heating and cooling
modern cabinetry
covered patio
fenced backyard
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
RealtyNET, LLC
(503) 300-6330
Listed By:
Greg Messick · License #200202047
(503) 300-6330
Added: Jul 8
Changed: Aug 19
Last Checked: Aug 25 at 3:06PM
MLS# 493516055
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 newly completed duplex features two spacious units, each designed with an open-concept layout. Each unit offers three bedrooms and 2.5 bathrooms, with modern finishes including quartz countertops, stainless steel appliances, and modern cabinetry. HVAC is provided by a forced air heat pump system, and the roof is composition. Practical everyday comfort is supported with a covered patio and a low-maintenance fenced backyard, plus a one-car attached garage per unit.
The property is zoned Res and is located at 1946 7th St in Springfield, Lane County, Oregon. It is adjacent to Fred Meyer and near coffee shops, restaurants, and a commercial shopping center. Schools are about 1 mile away, Autzen Stadium is approximately a 9-minute drive, and Interstate 5 is about 2 miles from the property, offering convenient access for commuting.
Built in 2026, this duplex is currently listed as under construction and completed new construction, positioning it for either owner-occupancy or rental use with contemporary finishes and functional outdoor space for each unit.
The property is zoned Res and is located at 1946 7th St in Springfield, Lane County, Oregon. It is adjacent to Fred Meyer and near coffee shops, restaurants, and a commercial shopping center. Schools are about 1 mile away, Autzen Stadium is approximately a 9-minute drive, and Interstate 5 is about 2 miles from the property, offering convenient access for commuting.
Built in 2026, this duplex is currently listed as under construction and completed new construction, positioning it for either owner-occupancy or rental use with contemporary finishes and functional outdoor space for each unit.
Key Highlights
- Two‑unit duplex newly completed, built in 2026, total 2,740 SF
- Each unit has three bedrooms and 2.5 bathrooms with open‑concept floor plan
- Heat pump forced air heating and cooling in both units
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
$26,900
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
3.85%
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%
$538,000
$538.0K
Cap Rate 7%
$384,286
$384.3K
Cap Rate 9%
$298,889
$298.9K
Market Conditions
NOI Build-Up for 2,740 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
$41.1K $15.00/SF
− Vacancy
−$2.7K −$0.98/SF
EGI
$38.4K $14.03/SF
− OpEx
−$11.5K −$4.21/SF
NOI
$26.9K $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%
$538,000
Cap Rate 7%
$384,286
Cap Rate 9%
$298,889
Alternative Uses
Best Use
Multifamily LT 5
$384.3K
$336.3K – $448.3K
NOI $26,900 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$357.7K
$313.0K – $417.4K
NOI $25,042 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$693.2K
$606.5K – $808.7K
NOI $48,523 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
474
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Newly completed duplex with heat pump HVAC, composition roof, and each unit with an attached one-car garage and covered patio.
Where is this duplex located?
The property is located at 1946 7th St Springfield, OR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two‑unit duplex newly completed, built in 2026, total 2,740 SF; Each unit has three bedrooms and 2.5 bathrooms with open‑concept floor plan; Heat pump forced air heating and cooling in both units
