231 South 40th Street

Sold 9/12/25
Sold 9/12/25
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Living Room
Bedroom
Bedroom
Bedroom
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Bedroom
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Laundry
Laundry
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Sold
Last Sold Price
$599,000
3,158 sqft$190/sqft
231 S 40th St, Springfield, OR 97478
Multi FamilyProperty Type
10,018 sq ftLot Size
1973Year Built
$190/sq ftPrice per sq ft
8 carsParking Spaces

Description

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.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.
  • Listed by: Shelly Iverson • Joi Real Estate
  • Listed by: Shelly Begines • Joi Real Estate
Listing closed: 09/12/2025 12:00 AM • Source: RMLS, MLS#: 163907285

Recent comparable sales

Median sold price

$694,900

Avg days on market

35

Sale-to-list ratio

97.3%

Springfield, OR

9 comparable properties found

$520,000 | 4118-4120 South E Street, Springfield, OR 97478
1/49
1

$520,000

Sold 08/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
2,966
Square Feet
0.16
Acres

4118-4120 South E Street, Springfield, OR 97478

$685,000 | 4369-4371 Kalmia Street, Springfield, OR 97478
1/28
2

$685,000

Sold 04/30/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.11
Acres

4369-4371 Kalmia Street, Springfield, OR 97478

$690,000 | 1164 South 43rd Place, Springfield, OR 97478
1/27
3

$690,000

Sold 06/04/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.11
Acres

1164 South 43rd Place, Springfield, OR 97478

$694,900 | 4353-4355 Kalmia Street, Springfield, OR 97478
1/40
4

$694,900

Sold 05/29/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.1
Acres

4353-4355 Kalmia Street, Springfield, OR 97478

a front view of a house with a yard and garage
1/41
5

$699,000

Sold 01/31/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.12
Acres

1152-1154 South 43rd Place, Springfield, OR 97478

a house that has a lots of windows
1/40
6

$699,000

Sold 03/26/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.11
Acres

1180-1182 South 43rd Place, Springfield, OR 97478

$699,000 | 1185-1187 South 43rd Street, Springfield, OR 97478
1/27
7

$699,000

Sold 02/11/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.1
Acres

1185-1187 South 43rd Street, Springfield, OR 97478

$705,000 | 1157-1159 South 43rd Street, Springfield, OR 97478
1/28
8

$705,000

Sold 03/20/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,107
Square Feet
0.11
Acres

1157-1159 South 43rd Street, Springfield, OR 97478

a front view of a house with garden
1/11
9

$470,000

Sold 03/26/25

Unavailable
Bedrooms
Unavailable
Bathrooms
3,222
Square Feet
0.24
Acres

5495 South A Street, Springfield, OR 97478

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Property Information for 231 South 40th Street

Property Details
  • Taxes: $5,233 / year
  • MLS Type: Multi Family
  • County: Lane County
  • Parking Features: Assigned, Paved
  • Zoning: R2
  • Garage Spaces: .00
  • Parking Total: 8.00
Building Information
  • Stories: 2
  • Residences: 4
  • Year Built: 1973
  • Lot Size: 0.23 AC / 10,018 SF
Summary
Location and General Information
  • Country: US
  • Directions: main to south 40th
  • Road Surface: Paved
School Information
  • Elementary School: Douglas Gardens
  • High School: Springfield
  • Middle Or Junior School: Agnes Stewart
Taxes and HOA
  • Tax Year: 2024
  • Tax Annual Amount: $5,232.93
  • Parcel Number: 0122729
  • Tax Legal Description: 17-02-31-41-06200
Property
Lot Information
  • Acres: 0.23
  • Lot Description: Level
  • Lot Size Square Feet: 10018.0
  • Lot Size Range: Sq Ft10000to14999
  • Lot Size: 10,000 to 14,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Property Condition: Existing
  • Year Built: 1973
Utilities
  • Cooling Description: None
  • Fuel Description: Electricity
  • Heating Description: Ceiling
  • Hot Water Description: Electricity
  • Sewer Description: Public Sewer
  • Rent Includes: Sewer, Trash Collection, Water
Interior and Exterior Features
Exterior Features
  • Exterior Description: T111Siding
  • Roof Type: Composition
Interior Features
  • Basement: None
  • Foundation Details: Slab
  • Stories: 2
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
  • Gross Income Actual: $32,760.00
  • Gross Income Projected: $37,220.00
  • Gross Rent Multiplier: $18.28
  • Investor Information: According To Owner, Profit Loss Statement
  • Net Income Actual: $18,538.00
  • Net Income Projected: 23220
  • Operating Expenses Projected: $14,000.00
  • Operating Expense: $14,222.00
  • Security Features: None
  • Storage: None
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4
  • Common Amenities: Laundry
  • SqFt Approximate Building Total: 3158
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Baths Decimal: 1.00
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Features: Dishwasher, Range, Refrigerator, Window Coverings
  • Unit Type 1 Rent: $1,000
  • Unit Type 1 SqFt: 686.0
  • Unit Type 1 Units Total: 1
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Baths Decimal: 1.00
  • Unit Type 2 Beds Total: 2
  • Unit Type 2 Features: Dishwasher, Range, Refrigerator, Window Coverings
  • Unit Type 2 Rent: $0
  • Unit Type 2 SqFt: 686.0
  • Unit Type 2 Units Total: 1
Unit 3 Information
  • Unit Type 3 Baths Total: 1
  • Unit Type 3 Baths Decimal: 1.00
  • Unit Type 3 Beds Total: 3
  • Unit Type 3 Features: Dishwasher, Range, Refrigerator, Window Coverings
  • Unit Type 3 Rent: $710
  • Unit Type 3 SqFt: 974.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 1
  • Unit Type 4 Baths Decimal: 1.00
  • Unit Type 4 Beds Total: 2
  • Unit Type 4 Features: Dishwasher, Range, Refrigerator, Window Coverings
  • Unit Type 4 Rent: $670
  • Unit Type 4 SqFt: 686
  • Unit Type 4 UnitsTotal: 1

Property History for 231 South 40th Street

DateEvent & SourcePriceAppreciation
May 12, 2003

Sold (Public Record)

Public Record #111975714

$200,000—
DateEvent & SourcePrice
05/12/2003

Sold (Public Record)

Public Record #111975714

$200,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 231 South 40th Street

Taxable ValueLand-Additions-Total-
Tax Record2025$5,319 ($443 / month)
Home Facts
Baths4Total Finished SqFt3,168 SqFtAbove Grade Finished SqFt3,168 SqFtStories2Lot Size10,019 SqFtStyleQuadraplexYear Built1973Year Renovated1984ZoningMD- MEDIUM DECountyLANEAPN17-02-31-41-06200-000

Schools near 231 South 40th Street

This home is within Springfield School District 19.
Rating
School
Type
Grades
Distance
Douglas Gardens Elementary School
Public - K to 5
Agnes Stewart Middle School
Public - 6 to 8
Springfield High School
Public - 9 to 12
Willamette Leadership Academy
Charter - 6 to 12
Rating
School
Distance
Douglas Gardens Elementary School
PublicK to 5

Agnes Stewart Middle School
Public6 to 8

Springfield High School
Public9 to 12

Willamette Leadership Academy
Charter6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 231 South 40th Street, Springfield, OR 97478
$599,000
–
–
3,158
10,018
267 South 40th Street, Springfield, OR 97478
–
–
4
4,032
10,019
246 South 40th Place, Springfield, OR 97478
–
–
2
1,788
6,534
234 South 40th Place, Springfield, OR 97478
–
–
2
1,788
6,534
219 South 40th Street, Springfield, OR 97478
$505,000
–
–
–
–
4016 Oregon Avenue, Springfield, OR 97478
$272,500
–
–
–
–

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Joi Real Estate

All information provided is deemed reliable but is not guaranteed and should be independently verified. The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS of Portland Oregon. Real estate listings held by brokerage firms other than Compass are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright © 2026 RMLS, Portland, Oregon. Last updated: 09/15/2025 11:56 AM