Duplex with Covered
488 WALNUT Ln Eugene, OR 97401
New
For Sale
$550,000
MULTI_FAMILY - Eugene, OR
Property Size2,184 SF
Lot Size0.16 Acres
Price / SF$251.83
Days on Market2
Property Features for 488 WALNUT Ln
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-1
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
- Standard status
- Active
- APN
- 1771466
- Size
- 2,184 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- Commonly known as 488/490 Walnut Ln. Legal desc. to be attached upon receipt of preliminary title.
- Tax Annual Amount
- 4835
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1915
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Composition
Listing Agency:
RE/MAX Integrity
(541) 345-8100
Listed By:
Michael O'Connell Jr. · License #891200225
(541) 953-0350
Added: Jul 24
Last Checked: Jul 25 at 1:06AM
MLS# 227518442
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 offers two residential units with separate living configurations. The main level features a 3-bedroom layout with 1 1/2 baths, a wood-burning fireplace, air conditioning, a covered deck, and a full basement. The seller notes an additional 540 square feet of finished and unfinished space not included in the stated total.
The upper unit includes 2 bedrooms, 1 bath, air conditioning, and a large private deck. Recent upgrades total over $30,000, and the property is described as beautifully landscaped.
Located in Eugene, Oregon on a 0.16-acre lot, the property is zoned R-1. The duplex is provided for sale with information subject to change; buyers are advised to verify all details to their satisfaction.
The upper unit includes 2 bedrooms, 1 bath, air conditioning, and a large private deck. Recent upgrades total over $30,000, and the property is described as beautifully landscaped.
Located in Eugene, Oregon on a 0.16-acre lot, the property is zoned R-1. The duplex is provided for sale with information subject to change; buyers are advised to verify all details to their satisfaction.
Key Highlights
- Duplex built in 1915 with both units featuring air conditioning and forced air heating
- Main‑level unit offers 3 bedrooms and 1.5 bathrooms, plus a wood‑burning fireplace
- Main unit includes a covered deck and access to a full basement
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with separate 3-bedroom and 2-bedroom units, air conditioning, and decks, plus a full basement addition on the main level.
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 built in 1915 with both units featuring air conditioning and forced air heating; Main‑level unit offers 3 bedrooms and 1.5 bathrooms, plus a wood‑burning fireplace; Main unit includes a covered deck and access to a full basement
