Duplex with Private
For Sale
$550,000
488 Walnut Ln, Eugene, OR 97401
Well-maintained duplex with two units, air conditioning, and covered and private outdoor decks.
Days on Market11
Property Features for 488 Walnut Ln
General Information
Standard status
Active
Property subtype
Multi Family Home
Building Details
Building Size
2,184 SF
Year Built
1915
Tenancy
Multi
Listing Agency:
RE/MAX Integrity
(541) 953-0350
Listed By:
Michael O'Connell Jr. · License #891200225
(541) 953-0350
Source:
Allprofessionalsre
Added: Jul 24
Changed: Jul 29
Last Checked: Aug 2 at 12:50PM
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 RE/MAX Integrity
Investment Insights
Based on property information with market context.
This duplex offers two separate units with practical everyday comfort and usable indoor space. The main level features a three-bedroom layout with one and a half bathrooms, a wood-burning fireplace, air conditioning, a covered deck, and a full basement. The upper unit includes two bedrooms, one bathroom, air conditioning, and a large private deck. The property was built in 1915 and has seen recent upgrades. In addition, there is an additional 540 sq. ft. of finished and unfinished space in the basement area that is not included in the stated total.
Located at 488 Walnut Ln in Eugene, the home sits in the Sheldon area and is described as surrounded by single-family residences.
Located at 488 Walnut Ln in Eugene, the home sits in the Sheldon area and is described as surrounded by single-family residences.
Key Highlights
- Main level: three‑bedroom unit with 1.5 baths, wood‑burning fireplace, air conditioning
- Covered deck plus full basement
- Upper unit: two bedrooms, one bath, air conditioning, large private deck
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.3k | $12.96 |
| − Vacancy | −$323 | −$0.15 |
| EGI | $28.0k | $12.81 |
| − OpEx | −$8.4k | −$3.84 |
| NOI | $19.6k | $8.97 |
2,184 SF · lease $12.96/SF/yr · vacancy 1.14% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$279.8K
$244.8K – $326.5K
NOI $19,587 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$244.1K
$213.6K – $284.8K
NOI $17,090 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$658.9K
$576.6K – $768.8K
NOI $46,126 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
Explore this area
Business Placement
Demographics for 97401, OR
45,634
Population
24,220
Households
1.9
Avg Household Size
32
Median Age
47%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
4,907
Density / Sq Mi
$51,244
Median Household Income
$26,604
Median Earnings
$1,318
Median Rent
$472,200
Median Home Value
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 - Well-maintained duplex with two units, air conditioning, and covered and private outdoor decks.
Where is this duplex located?
The property is located at 488 Walnut Ln Eugene, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Main level: three‑bedroom unit with 1.5 baths, wood‑burning fireplace, air conditioning; Covered deck plus full basement; Upper unit: two bedrooms, one bath, air conditioning, large private deck
