Duplex with Individual
For Sale
$475,000
257 SMITH Loop, Springfield, OR 97478
MULTI_FAMILY - Springfield, OR
Property Size2,110 SF
Price / SF$225.12
Days on Market66
Property Features for 257 SMITH Loop
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1
Elementary school
Riverbend
Middle school
Agnes Stewart
High school
Thurston
Directions
Main St. to 43 Pl. N to Smith Lp
Subdivision
_249
Standard status
Active
APN
1286549
Size
2,110 SF
Taxes and HOA fees
Tax Description
17 02 32 31 01907
Tax Annual Amount
4469
Legal Description
17 02 32 31 01907
Amenities
fenced yards
Building Details
Year built
1995
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Berkshire Hathaway HomeServices Real Estate Professionals
(541) 485-1400
Listed By:
Dennis Green · License #780403820
(541) 984-2554
Added: Jun 3
Changed: Aug 6
Last Checked: Aug 7 at 5:06AM
MLS# 486635398
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 2,110-square-foot duplex in Springfield, Oregon, was built in 1995 and includes a one-car garage for each unit. Both residences have fenced yards, providing defined outdoor areas for occupants.
Property improvements include a newer roof and newer vinyl windows. The roof is composition, and the property is zoned R-1. Located at 257 SMITH Loop, the duplex offers an established residential setting for a multifamily ownership strategy.
Property improvements include a newer roof and newer vinyl windows. The roof is composition, and the property is zoned R-1. Located at 257 SMITH Loop, the duplex offers an established residential setting for a multifamily ownership strategy.
Key Highlights
- 2,110‑square‑foot duplex built in 1995
- One‑car garage provided for each unit
- Fenced yards for both residences
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
$20,715
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
4.36%
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%
$414,300
$414.3K
Cap Rate 7%
$295,929
$295.9K
Cap Rate 9%
$230,167
$230.2K
Market Conditions
NOI Build-Up for 2,110 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
$31.7K $15.00/SF
− Vacancy
−$2.1K −$0.98/SF
EGI
$29.6K $14.03/SF
− OpEx
−$8.9K −$4.21/SF
NOI
$20.7K $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%
$414,300
Cap Rate 7%
$295,929
Cap Rate 9%
$230,167
Alternative Uses
Best Use
Multifamily LT 5
$295.9K
$258.9K – $345.3K
NOI $20,715 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$533.8K
$467.1K – $622.8K
NOI $37,366 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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
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 - Two residential units feature private fenced yards and individual one-car garages.
Where is this duplex located?
The property is located at 257 SMITH Loop Springfield, OR.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,110‑square‑foot duplex built in 1995; One‑car garage provided for each unit; Fenced yards for both residences
