Park-Adjacent
For Sale
$479,000
30 T St, Springfield, OR 97477
MultiFamily, Springfield, OR
Property Size1,940 SF
Lot Size0.10 Acres
Price / SF$246.91
Days on Market49
Property Features for 30 T St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Ld
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
View
Park
Elementary school
Page
Middle school
Hamlin
High school
Springfield
Directions
N 5th turn left onto T St
Subdivision
_232
Standard status
Active
APN
1014149
Size
1,940 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
Map & Tax Lot # 17-03-26-22-03855)
Tax Annual Amount
3712
Legal Description
Map & Tax Lot # 17-03-26-22-03855)
Utilities
Heating system
Ceiling
Building Details
Year built
1971
Floors in Building
2
Number of units
2
Roof type
Shingle, Composition
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 345-8100
Listed By:
Mike Cook
(541) 600-9745
Added: Jul 31
Changed: Sep 13
Last Checked: Sep 17 at 1:06PM
MLS# 297058804
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 duplex contains 1,940 square feet across two residential units on a 0.1-acre lot. One unit is vacant and move-in ready, while the other is occupied and provides rental income, supporting either an owner-occupant arrangement or continued leasing. The property was built in 1971 and features ceiling heat with a composition and shingle roof.
The building backs directly to Pacific Park and is near shopping, restaurants, schools, and everyday amenities. Its Springfield setting combines a two-unit layout with access to nearby outdoor recreation and established neighborhood services.
The building backs directly to Pacific Park and is near shopping, restaurants, schools, and everyday amenities. Its Springfield setting combines a two-unit layout with access to nearby outdoor recreation and established neighborhood services.
Key Highlights
- Two‑unit duplex with 1,940 square feet of building area
- One residence is vacant and move‑in ready
- Second unit provides rental income
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
$19,046
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
3.98%
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%
$380,920
$380.9K
Cap Rate 7%
$272,086
$272.1K
Cap Rate 9%
$211,622
$211.6K
Market Conditions
NOI Build-Up for 1,940 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
$29.1K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.2K $14.03/SF
− OpEx
−$8.2K −$4.21/SF
NOI
$19.0K $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%
$380,920
Cap Rate 7%
$272,086
Cap Rate 9%
$211,622
Alternative Uses
Best Use
Multifamily LT 5
$272.1K
$238.1K – $317.4K
NOI $19,046 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$253.3K
$221.6K – $295.5K
NOI $17,730 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$490.8K
$429.5K – $572.6K
NOI $34,356 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
640
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with one vacant residence and a second unit producing rental income.
Where is this duplex located?
The property is located at 30 T St Springfield, OR.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,940 square feet of building area; One residence is vacant and move‑in ready; Second unit provides rental income
