Duplex with Attached
New
For Sale
$399,900
908 N CLOVERLEAF Loop, Springfield, OR 97477
MultiFamily, Springfield, OR
Property Size1,972 SF
Lot Size0.17 Acres
Price / SF$202.79
Days on Market2
Property Features for 908 N CLOVERLEAF Loop
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 2, Bathroom 1
Elementary school
Guy Lee
Middle school
Hamlin
High school
Springfield
Directions
Oakdale Ave left onto N Cloverleaf Loop Show
Subdivision
_232
Standard status
Active
APN
1164282
Size
1,972 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Map & Taxlot#17-03-22-31-01800
Tax Annual Amount
4557
Legal Description
Map & Taxlot#17-03-22-31-01800
Utilities
Heating system
Baseboard, Zoned
Building Details
Year built
1977
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
RE/MAX Integrity · RE/MAX International
(541) 345-8100
Listed By:
Michael Sims · License #910200151
(541) 510-0552
Added: Oct 2
Last Checked: Oct 3 at 3:06AM
MLS# 666360284
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 1977 duplex contains 1,972 square feet across two townhouse-style residences. Each side has two bedrooms, a full bathroom upstairs, a half bath downstairs, and its own attached one-car garage. The building has composition roofing and zoned baseboard heat, and the property is designated R2.
The Springfield property is near Riverbend Hospital, Gateway Street amenities, grocery shopping, a movie theater, and bus service. The lot encompasses 0.17 acres.
The Springfield property is near Riverbend Hospital, Gateway Street amenities, grocery shopping, a movie theater, and bus service. The lot encompasses 0.17 acres.
Key Highlights
- Two‑unit duplex with 1,972 square feet
- Each residence has two bedrooms, one upstairs full bath, and one downstairs half bath
- Attached one‑car garage for each unit
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
$19,360
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
4.84%
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%
$387,200
$387.2K
Cap Rate 7%
$276,571
$276.6K
Cap Rate 9%
$215,111
$215.1K
Market Conditions
NOI Build-Up for 1,972 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
$29.6K $15.00/SF
− Vacancy
−$1.9K −$0.98/SF
EGI
$27.7K $14.03/SF
− OpEx
−$8.3K −$4.21/SF
NOI
$19.4K $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 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%
$387,200
Cap Rate 7%
$276,571
Cap Rate 9%
$215,111
Alternative Uses
Best Use
Multifamily LT 5
$276.6K
$242.0K – $322.7K
NOI $19,360 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$257.5K
$225.3K – $300.4K
NOI $18,023 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$498.9K
$436.5K – $582.0K
NOI $34,922 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
698
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two townhouse-style residences offer separate garages and a two-level bedroom and bath arrangement.
Where is this duplex located?
The property is located at 908 N CLOVERLEAF Loop Springfield, OR.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,972 square feet; Each residence has two bedrooms, one upstairs full bath, and one downstairs half bath; Attached one‑car garage for each unit
