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About this home
Great opportunity to purchase a turnkey 4-Plex in the heart of Springfield. Live in one unit & rent out the rests or add this great property to your investment portfolio. Lots of valuable updates including a brand new roof, new gutters, updated interior features & more! Each unit features two bedrooms & one bathroom. With plenty of room for parking for each unit. Please do not disturb the tenants. Shown by appointment only! Only the vacant unit is available to tour, with the remaining to be shown after an accepted offer. Call you broker today to arrange a private tour. Rental records available upon request!
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
351 40th St · $674,900
$673K and above
75% chance or better to win
Why $673K+ is a strong offer
DAYS ON MARKET
73 days
The average home goes pending in 129 days.
SALE-TO-LIST
104.5%
Most homes are selling 5% above list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Crawl space basement
No storage listed
Mountain view
Bedrooms
Four 2-bedroom units (each unit: 2 bedrooms)
Bathrooms
Each unit has 1 bathroom
Kitchen
Ranges
Refrigerators
Laundry & utility
Washer/dryer included in one unit (other units list no washer/dryer)
Electric hot water
Heating & cooling
Wall heaters with zoned heating
Window air conditioning units
Exterior features
Wood siding
Level lot
Concrete and paved road access
Mountain views
Home design
Multi-family property
Not attached
Updated / remodeled
Built in 1992
Parking
Off-street paved parking
Approximately 10 parking spaces
Security
No security features listed
Construction
Composition roof
Slab foundation
Utilities
Public water
Public sewer
Electric fuel
Cable internet
HOA & community
Zoned R2
Financial info
Four total units
Unit rents (actual reported): $1,023; $1,067; $1,208 (one unit rent not listed)
Cap rate reported at 5.19
Gross rent multiplier 17.05
Other
Parcel number 1479128
Electricity and solar
View estimated energy costs and solar savings for this home
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
94/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 13% for direct sun exposure in Springfield. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
11 hrs
5.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 351 40th St
$662,974
$12K under list price of $675K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $455K to $668K.