Duplex with Decks and
For Sale
$550,000
488 Walnut Ln, Eugene, OR 97401
Two separately configured units offer flexible living arrangements with outdoor decks, air conditioning, and supplemental basement space.
Property Size2,184 SF
Price / SF$251.83
Days on Market66
Property Features for 488 Walnut Ln
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1915
Listing Agency:
RE/MAX Integrity
Listed By:
Michael O'Connell Jr. · License #891200225
(541) 345-8100
Source:
Christiesrealestateevg
Added: Aug 12
Changed: Oct 4
Last Checked: Oct 7 at 1:44PM
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
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Investment Insights
Based on property information with market context.
This 2,184-square-foot duplex, built in 1915, includes a three-bedroom main-level unit with 1 1/2 baths, a wood-burning fireplace, air conditioning, a covered deck, and basement space. The upper residence contains two bedrooms, one bath, air conditioning, and a large private deck. The basement adds 540 square feet of finished and unfinished area that is not included in the total building size.
The property is located in Eugene’s Sheldon area among single-family residences and established homes. Recent upgrades, landscaping, and separate unit layouts add practical appeal for an owner occupant or income-producing residential property. The address is 488 Walnut Ln, Eugene, OR 97401.
The property is located in Eugene’s Sheldon area among single-family residences and established homes. Recent upgrades, landscaping, and separate unit layouts add practical appeal for an owner occupant or income-producing residential property. The address is 488 Walnut Ln, Eugene, OR 97401.
Key Highlights
- Duplex totals 2,184 square feet and was built in 1915
- Main‑level unit has 3 bedrooms, 1 1/2 baths, fireplace, air conditioning, and covered deck
- Upper unit includes 2 bedrooms, 1 bath, air conditioning, and private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,587
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,740
$391.7K
Cap Rate 7%
$279,814
$279.8K
Cap Rate 9%
$217,633
$217.6K
Market Conditions
NOI Build-Up for 2,184 SF
Gross rent
$28.3K $12.96/SF
− Vacancy
−$323 −$0.15/SF
EGI
$28.0K $12.81/SF
− OpEx
−$8.4K −$3.84/SF
NOI
$19.6K $8.97/SF
Area
Eugene, OR
Vacancy
1.14%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,740
Cap Rate 7%
$279,814
Cap Rate 9%
$217,633
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.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured units offer flexible living arrangements with outdoor decks, air conditioning, and supplemental basement space.
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: Duplex totals 2,184 square feet and was built in 1915; Main‑level unit has 3 bedrooms, 1 1/2 baths, fireplace, air conditioning, and covered deck; Upper unit includes 2 bedrooms, 1 bath, air conditioning, and private deck
