$775,000

488 S 2nd St Lebanon, OR 97355

Estimated payment $4,568/month

Total Views 66,532
3 Beds
2 Baths
2,437 Sq Ft
$318 Price per Sq Ft

Highlights

  • RV Access or Parking
  • Freestanding Bathtub
  • Walk-In Pantry
  • Family Room with Fireplace
  • Wood Flooring
  • 2 Car Detached Garage

About This Home

Step into a rare piece of Lebanon history with this iconic 150+ year-old home, rich with character, craftsmanship, and opportunity. Built in the early days of downtown Lebanon, this one-of-a-kind residence blends timeless architectural detail with modern flexibility on an expansive 10,000+ sq ft lot just two blocks from the heart of town. From its unique stained glass, distinctive windows, elegant period details, and oversized rooms to its welcoming gardens and mature trees, this home offers a presence and story that cannot be replicated.Once overlooking open farmland, fields, and valley views, the home still carries the charm of a bygone era while offering the space and function today’s buyers are seeking. Imagine relaxing on the upper deck and taking in the setting, or enjoying long soaks in the oversized bathrooms with classic clawfoot tubs. Designed to accommodate a full house, the kitchen features generous cabinetry, large pantry space, and three refrigerators—ideal for entertaining, extended living, rental use, or short-term stay potential.With approximately 2,400 sq ft of finished living space plus a 1,200 sq ft basement already equipped with plumbing, electrical, and gas, there is tremendous potential to expand the home to over 3,600 sq ft. Create additional living quarters, guest space, a studio, recreation area, workshop, or explore future income-producing possibilities. The large lot also offers room to consider an ADU, garden expansion, outdoor entertaining areas, or additional parking, with buyers to verify all uses.Outside, meticulous landscaping surrounds the home, supported by an 8-station sprinkler system serving approximately 48 sprinkler heads. The grounds create a private, peaceful environment while keeping you moments from restaurants, shops, services, community events, and Lebanon’s growing downtown energy.Whether used as a grand personal residence, multigenerational home, investment property, student housing, short-term rental, or a legacy restoration opportunity, this property offers far more than square footage. It is a work of art, a piece of local history, and a lifestyle—filled with warmth, elegance, flexibility, and future potential. Homes with this level of history, scale, location, and character rarely come available.

Listing Agent

Laura Gillott

KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM License #920300248 Listed on: 02/13/2026

KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM

Co-Listing Agent

Mackenzie Greenly

KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM License #201214326

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,395

Year Built

  • Built in 1870

Lot Details

  • 10,454 Sq Ft Lot
  • Partially Fenced Property
  • Landscaped
  • Sprinkler System

Home Design

  • Slab Foundation
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2,437 Sq Ft Home
  • 2-Story Property
  • Family Room with Fireplace
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Kitchen

  • Walk-In Pantry
  • Stove
  • Range
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms
  • Freestanding Bathtub

Parking

  • 2 Car Detached Garage
  • RV Access or Parking

Outdoor Features

  • Covered Deck

Schools

  • Green Acres Elementary School
  • Seven Oak Middle School
  • Lebanon High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Well
  • Electric Water Heater
  • High Speed Internet

Community Details

  • Ralstons Second Add Subdivision

Listing and Financial Details

  • Legal Lot and Block 4 / 18

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,395

Year Built

Built in 1870

Lot Details

10,454 Sq Ft Lot

Listing Details

  • Class: Residential
  • Type: Residence
  • Home Style: 2 Story
  • Home Warranty: Negotiable
  • Range Facility: Range Included
  • Syndicated Remarks: Step into a rare piece of Lebanon history with this iconic 150+ year-old home, rich with character, craftsmanship, and opportunity. Built in the early days of downtown Lebanon, this one-of-a-kind residence blends timeless architectural detail with modern flexibility on an expansive 10,000+ sq ft lot just two blocks from the heart of town. From its unique stained glass, distinctive windows, elegant period details, and oversized rooms to its welcoming gardens and mature trees, this home offers a presence and story that cannot be replicated.Once overlooking open farmland, fields, and valley views, the home still carries the charm of a bygone era while offering the space and function today’s buyers are seeking. Imagine relaxing on the upper deck and taking in the setting, or enjoying long soaks in the oversized bathrooms with classic clawfoot tubs. Designed to accommodate a full house, the kitchen features generous cabinetry, large pantry space, and three refrigerators—ideal for entertaining, extended living, rental use, or short-term stay potential.With approximately 2,400 sq ft of finished living space plus a 1,200 sq ft basement already equipped with plumbing, electrical, and gas, there is tremendous potential to expand the home to over 3,600 sq ft. Create additional living quarters, guest space, a studio, recreation area, workshop, or explore future income-producing possibilities. The large lot also offers room to consider an ADU, garden expansion, outdoor entertaining areas, or additional parking, with buyers to verify all uses.Outside, meticulous landscaping surrounds the home, supported by an 8-station sprinkler system serving approximately 48 sprinkler heads. The grounds create a private, peaceful environment while keeping you moments from restaurants, shops, services, community events, and Lebanon’s growing downtown energy.Whether used as a grand personal residence, multigenerational home, investment property, student housing, short-term rental, or a legacy restoration opportunity, this property offers far more than square footage. It is a work of art, a piece of local history, and a lifestyle—filled with warmth, elegance, flexibility, and future potential. Homes with this level of history, scale, location, and character rarely come available.
  • Year Built: 1870
  • Home Style2: 2 Story
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 2

Interior Features

  • Dishwasher: Yes
  • Disposal: Yes
  • Fireplace: Family Room, Stove
  • Negotiable Inclusions: Currently in place appliances
  • Flooring: Carpet, Vinyl, Wood
  • Total Bathrooms: 2
  • Total Bathrooms: 2
  • Full Bathrooms: 2
  • Bedrooms: 3
  • Master Bedroom: On Level: 2/Upper
  • Bedroom 2: On Level: 2/Upper
  • Bedroom 3: On Level: 2/Upper
  • Basement: Full, Unfinished
  • Dining Room: 1/Main, On Level: 1/Main
  • Family Room: On Level: 1/Main
  • Living Room: On Level: 1/Main
  • Kitchen: On Level: 1/Main
  • Bonus Rooms: Walk-In Pantry
  • Source Of Sq Ft: County

Exterior Features

  • Patio: Covered Deck
  • Fenced Yard: Partial
  • Foundation: Slab
  • Landscape: Yes
  • Roof: Composition
  • Siding: Wood

Garage/Parking

  • Garage Type: Detached
  • Garage Capacity: 2

Utilities

  • Heating/Cooling: Gas, Electric, Forced Air
  • High Speed Comm Access: Available
  • Sewer City: Yes
  • Water: Well, City
  • Water Heater: Electric

Lot Info

  • Acres: 0.24
  • Lot: 4
  • Rv Amenities: Area/Room For
  • Underground Sprinklers: Yes
  • Geo Subdivision: OR

Green Features

  • Smart Home Features: No

Tax Info

  • Tax Years: 2025
  • Tax Amount: 4395

MLS Schools

  • HighSchool: Lebanon
  • Middle School: Seven Oak
  • Elementary School: Green Acres

3D Interior and Exterior Tours

Floorplans

Map

Range of Values:

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Value Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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 $4,396 $208,360 -- --
2024 $4,251 $202,300 -- --
2023 $4,114 $196,410 $0 $0
2022 $3,417 $190,690 $0 $0
2021 $3,295 $185,140 $0 $0
2020 $3,255 $179,750 $0 $0
2019 $3,092 $174,520 $0 $0
2018 $3,068 $169,440 $0 $0
2017 $2,996 $164,510 $0 $0
2016 $2,905 $159,720 $0 $0
2015 $2,830 $155,070 $0 $0
2014 $2,783 $150,560 $0 $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
02/13/2026 02/13/26 For Sale $775,000 +93.8% $318 / Sq Ft
05/24/2023 05/24/23 Sold $400,000 0.0% $164 / Sq Ft View Prior Sale
05/24/2023 05/24/23 Sold $400,000 0.0% $164 / Sq Ft View Prior Sale
05/01/2023 05/01/23 Pending -- -- --
04/18/2023 04/18/23 For Sale $400,000 0.0% $164 / Sq Ft
04/17/2023 04/17/23 For Sale $400,000 -- $164 / Sq Ft
Source: Willamette Valley MLS

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Type Sale Price Title Company
Warranty Deed $400,000 Amerititle
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Loan Amount Loan Type
Open $380,000 New Conventional
Source: Public Records

About the Listing Agent

Laura Gillott

KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM

(458) 202-2861

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Your Move Matters. We Make It Count.
At the Gillott Home Team, your goals come first. Whether you're buying your first home, upsizing, downsizing, or investing—we guide you every step of the way with clear communication, smart strategy, and results that speak for themselves. We’re known for selling homes faster and for more money, and helping buyers win in competitive markets.
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Source: Willamette Valley MLS

MLS Number: 837521

Willamette Valley MLS

APN: 0173837

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