Duplex with Lower-Level
For Sale
$510,000
602 KELLY BLVD, Springfield, OR 97477
Separate living areas below the units provide additional space within the duplex.
Property Size3,608 SF
Days on Market195
Property Features for 602 KELLY BLVD
General Information
Standard status
Active
Size
3,608 SF
Property subtype
MULTI_FAMILY
Property Condition
Severity
Repairs Needed
Evidence
some updating
Taxes and HOA fees
Annual Taxes
$4,974
Building Details
Building Size
3,608 SF
Year Built
1971
Listing Agency:
Terry Group Realty
Listed By:
Sherman Terry · License #930600238
(541) 606-0332
Source:
Worthlandrealestate
Added: Apr 9
Changed: Oct 19
Last Checked: Oct 19 at 2:47PM
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 Terry Group Realty
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Investment Insights
Based on property information with market context.
Built in 1971, this duplex includes additional living areas below the units, expanding the property's usable residential space.
The property is near the river and Autzen Stadium in Springfield, Oregon.
The property is near the river and Autzen Stadium in Springfield, Oregon.
Key Highlights
- Additional living areas below the duplex units
- Built in 1971
- Near the river and Autzen Stadium in Springfield, Oregon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,422
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$708,440
$708.4K
Cap Rate 7%
$506,029
$506.0K
Cap Rate 9%
$393,578
$393.6K
Market Conditions
NOI Build-Up for 3,608 SF
Gross rent
$54.1K $15.00/SF
− Vacancy
−$3.5K −$0.98/SF
EGI
$50.6K $14.03/SF
− OpEx
−$15.2K −$4.21/SF
NOI
$35.4K $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 Rate 5%
$708,440
Cap Rate 7%
$506,029
Cap Rate 9%
$393,578
Alternative Uses
Best Use
Multifamily LT 5
$506.0K
$442.8K – $590.4K
NOI $35,422 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$471.1K
$412.2K – $549.6K
NOI $32,975 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$912.8K
$798.7K – $1.06M
NOI $63,895 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
830
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
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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 - Separate living areas below the units provide additional space within the duplex.
Where is this duplex located?
The property is located at 602 KELLY BLVD Springfield, OR.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Additional living areas below the duplex units; Built in 1971; Near the river and Autzen Stadium in Springfield, Oregon
