It's in the top 10% of views. Tour it before it's gone!
Tomorrow:
About this home
New to Market. Excellent Investment opportunity!! A well maintained quad in Springfield right off of Main St. 3 uites with 2 bedrooms, and 1 unit with 3. Parking spaces, each unit has 2. Perfect for those seasonal investors looking to purchase and grow their portfolio.
Tanara Greywolf • Better Homes and Gardens Real Estate Equinox
Around this home
Schools
K - 12
Preschool & daycare
Douglas Gardens Elementary School
Public K-5 • Assigned • 0.6mi
8/10
Agnes Stewart Middle School
Public 6-8 • Assigned • 0.8mi
6/10
Springfield High School
Public 9-12 • Assigned • 2.4mi
4/10
Provided by GreatSchools
About
Mid-Springfield
Mid-Springfield, located between Downtown Springfield and Thurston, is a residential and commercial Springfield neighborhood with tree-lined blocks and a steady stream of local storefronts. The neighborhood’s character concentrates around Main Street near 5th Street, where murals, casual eateries, and small-service shops keep the sidewalks active. Architectural cues lean toward mid-century ranch homes and compact postwar cottages, with pockets of newer infill along busier corridors. The Willamette River and nearby parks shape daily routines with paths and open lawns. Community pillars include PublicHouse, the Wildish Theater, and the Springfield History Museum. A mix of civic buildings and corner markets gives the area a practical, lived-in rhythm.
Provided by Walk Score and Local Logic
Offer insights
231 S 40th St · $750,000
$763K and above
75% chance or better to win
Why $763K+ is a strong offer
DAYS ON MARKET
1 days
The average home goes pending in 138 days.
SALE-TO-LIST
105.7%
Most homes are selling 6% above list price.
About offer insights
Property details
Interior
Exterior
Finance
Interior features
No storage
Bedrooms
Unit mix includes units with 2 bedrooms and 3 bedrooms (unit-level details provided)
Bathrooms
Each unit has 1 bathroom
Kitchen
Dishwasher
Range
Refrigerator
Laundry & utility
On-site laundry (community laundry)
Heating & cooling
Ceiling heating
Electric hot water
No central cooling
Exterior features
Level lot
Paved road access
Home design
Multi Family property
Not attached
Parking
Paved parking
8 parking spaces
Security
No security features
Construction
Composition roof
T-111 siding
Built in 1973
Slab foundation
Utilities
Public water
Public sewer
Electric service
HOA & community
Zoning: R2
Community laundry
Financial info
4 total units
Unit rents listed: $1,000; $710; $670 (individual unit rent details available)
Cap rate: 2.47
Gross rent multiplier: 22.89
Rent covers sewer, trash collection, and water
Electricity and solar
View estimated energy costs and solar savings for this home
New To Market!-Prime Investment Opportunity! This well-maintained quadplex in Springfield is just off Main Street and sits on a spacious lot with private parking-2 spots per unit. Property features include: Three 2 bed/1 bath units & One 3 bed/1 bath unit, shared laundry on the first floor and a history of low to no vacancy. Perfect for seasoned investors or those looking to grow their portfolio with a solid, income-generating property.
Public Records
May 12, 2003
Sold
$200,000
Public Records
Jan 14, 1988
Sold
$80,579
Public Records
Jul 21, 1987
Sold
$63,000
Year
Property tax
Land + Additions
Assessment*
2025
$5,319 (+1.6%)
2024
$5,233 (+4.4%)
2023
$5,010 (+3.4%)
2022
$4,847 (+1.8%)
2021
$4,760 (+3.0%)
2020
$4,621 (+3.1%)
2019
$4,482 (+6.1%)
2018
$4,225 (+4.0%)
2017
$4,062 (+2.5%)
2016
$3,962 (+3.7%)
2015
$3,820 (+3.0%)
2014
$3,707 (+3.4%)
2013
$3,586 (+5.8%)
2012
$3,391 (+3.1%)
2011
$3,290 (+3.1%)
2010
$3,191 (−0.8%)
2009
$3,216
Public record
Beds
9
Baths
4
Stories
2
Lot width
—
Lot depth
—
Lot size
10,019 Sq. Ft.
Year renovated
1984
Finished Sq. Ft.
3,168
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,168
Year built
1973
Style
Single Family Residential
County
Lane County
APN
0122729
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 19, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 91° expected this year, 16 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
16 unhealthy days expected this year, 19 days in 30 years
Provided by First Street
Historical weather
Springfield, OR • 97478
Average low and high temperatures (°F)
48
33
51
37
58
41
64
42
69
47
77
51
84
55
86
57
77
53
64
44
53
41
50
40
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 10.6 hours in
June and 2.2 hours in December, placing it below the
U.S. average for solar exposure.
10.6 hrs
2.2 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 231 S 40th St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $495,000 and $685,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $495K to $685K.