Seller's Agent in 2025
Shelly Begines
Joi Real Estate
(503) 814-1449
1 in this area
24 Total Sales
231 S 40th St Springfield, OR 97478
East Springfield Neighborhood
9
Beds
4
Baths
3,158
Sq Ft
10,018
Sq Ft Lot
Highlights
- No HOA
- Laundry Facilities
- Level Lot
- Heating unit installed on the ceiling
About This Home
As of September 2025New 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.
Last Agent to Sell the Property
Joi Real Estate License #201221974 Listed on: 07/30/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,233
Year Built
- Built in 1973
Lot Details
- 10,018 Sq Ft Lot
- Level Lot
Home Design
- Slab Foundation
- Composition Roof
- Plywood Siding Panel T1-11
Interior Spaces
- 3,158 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 9 Bedrooms
- 4 Bathrooms
Parking
- 8 Parking Spaces
- Paved Parking
- Assigned Parking
Schools
- Douglas Gardens Elementary School
- Agnes Stewart Middle School
- Springfield High School
Utilities
- No Cooling
- Heating unit installed on the ceiling
- Electric Water Heater
Listing and Financial Details
- Rent includes sewer, trashcollection, water
- Assessor Parcel Number 0122729
Community Details
Overview
- No Home Owners Association
- 4 Units
Amenities
- Laundry Facilities
Building Details
- Operating Expense $14,222
- Gross Income $32,760
- Net Operating Income $18,538
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 30, 2025
Closed on
Sep 5, 2025
Sold by
Dale Randal Jay and Dale Theresa Rose
Bought by
Ud Springfield Llc
Seller's Agent
Shelly Begines
Joi Real Estate
Buyer's Agent
Sarah Gonzalez
Bell Real Estate
List Price
$599,000
Sold Price
$599,000
Views
12
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-9.64%
Original Mortgage
$449,250
Outstanding Balance
$449,250
Interest Rate
6.72%
Mortgage Type
New Conventional
Estimated Equity
$135,352
Purchase Details
Closed on
May 5, 2003
Sold by
Miller Christopher V and Miller Mary L
Bought by
Rose Dale Randal Jay and Rose Dale Theresa
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$170,000
Interest Rate
5.84%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Jun 18, 2001
Sold by
Cascade Exchange Services Inc
Bought by
Miller Christopher and Miller Mary L
Purchase Details
Closed on
Dec 17, 1999
Sold by
Miller Christopher V and Miller Mary L
Bought by
Cascade Exchange Services Inc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
7.82%
Mortgage Type
Seller Take Back
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $599,000 | Evergreen Land Title Company | |
| Warranty Deed | $200,000 | Western Pioneer Title Co | |
| Warranty Deed | -- | Cascade Title Co | |
| Warranty Deed | -- | Cascade Title Co |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $449,250 | New Conventional | |
| Previous Owner | $170,000 | Seller Take Back | |
| Previous Owner | $220,000 | Seller Take Back |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/12/2025 09/12/25 | Sold | $599,000 | 0.0% | $190 / Sq Ft |
| 08/06/2025 08/06/25 | Pending | -- | -- | -- |
| 07/30/2025 07/30/25 | For Sale | $599,000 | -- | $190 / Sq Ft |
Source: Regional Multiple Listing Service (RMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $5,319 | $290,064 | -- | -- |
| 2024 | $5,233 | $281,616 | -- | -- |
| 2023 | $5,233 | $273,414 | $0 | $0 |
| 2022 | $4,847 | $265,451 | $0 | $0 |
| 2021 | $4,760 | $257,720 | $0 | $0 |
| 2020 | $4,621 | $250,214 | $0 | $0 |
| 2019 | $4,482 | $242,927 | $0 | $0 |
| 2018 | $4,225 | $228,983 | $0 | $0 |
| 2017 | $4,062 | $228,983 | $0 | $0 |
| 2016 | $3,962 | $222,314 | $0 | $0 |
| 2015 | $3,820 | $215,839 | $0 | $0 |
| 2014 | $3,707 | $209,552 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Shelly Begines
-
Sarah Gonzalez
Buyer's Agent in 2025
Sarah Gonzalez
Bell Real Estate
(541) 688-2060
3 in this area
34 Total Sales
Map
Source: Regional Multiple Listing Service (RMLS)
MLS Number: 163907285
APN: 0122729
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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 Ten-X are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 RMLS™, Portland, Oregon. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.
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