Residential Income
For Sale
$524,900
217 SMITH LOOP, Springfield, OR 97478
Improvements include a carport, driveway, and crawl space.
Property Size2,268 SF
Days on Market104
Property Features for 217 SMITH LOOP
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Residential Income
Zoning
MD
Net Operating Income
$10,639
Taxes and HOA fees
Annual Taxes
$4,480
Amenities
Crawl Space
Carport, Driveway
Building Details
Building Size
2,268 SF
Year Built
1993
Stories
2
Listing Agency:
Real Broker, LLC
(458) 209-0163
Listed By:
Daniel Gandee · License #201235300
(458) 209-0163
Source:
Evrealestate
Added: May 1
Changed: Aug 10
Last Checked: Aug 11 at 7:47AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This residential income property at 217 SMITH LOOP in Springfield, Oregon, was built in 1993 and includes a crawl space, carport, and driveway. The property is identified with MD zoning. Access information references 43rd St in Lane County.
Key Highlights
- 1993 construction
- Carport and driveway included
- Crawl space
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
$20,728
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
3.95%
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%
$414,560
$414.6K
Cap Rate 7%
$296,114
$296.1K
Cap Rate 9%
$230,311
$230.3K
Market Conditions
NOI Build-Up for 2,268 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
$40.0K $17.64/SF
− Vacancy
−$2.3K −$1.02/SF
EGI
$37.7K $16.62/SF
− OpEx
−$17.0K −$7.48/SF
NOI
$20.7K $9.14/SF
Area
Lane County, OR
Vacancy
5.80%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$414,560
Cap Rate 7%
$296,114
Cap Rate 9%
$230,311
Alternative Uses
Best Use
Apartment 5plus
$296.1K
$259.1K – $345.5K
NOI $20,728 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$573.8K
$502.1K – $669.4K
NOI $40,164 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
363
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Improvements include a carport, driveway, and crawl space.
Where is this residential income property located?
The property is located at 217 SMITH LOOP Springfield, OR.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 1993 construction; Carport and driveway included; Crawl space
