Real Estate Investing in Springfield, Oregon (97477)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97477 (Springfield, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Springfield, OR (97477)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97477 Springfield
Not every below-median market is a bargain. Springfield's 97477 ZIP shows signals that favor experienced operators who can absorb the risk $407K pricing implies.
Rent of $1,621/mo on a $407K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97477 sits below the stated 0.0% once reality is priced in.
In the broader OR picture, 97477 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 97477 includes headwinds that any investor should price in. Income distribution skews lower than Springfield averages, and tenant stability requires active management.
The right play in 97477 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Springfield:
Property Strategy for 97477
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $270,500 | $1,230 | 3.3% | +6.8% | $270,500 |
| 2BR | $316,888 | $1,610 | 3.7% | +5.9% | $158,444 |
| 3BR | $402,818 | $2,240 | 4.0% | +5.5% | $134,273 |
| 4BR | $454,029 | $2,700 | 4.3% | +5.2% | $113,507 |
| 5BR | $496,050 | — | — | +5.4% | $99,210 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97477 Compare?
| Metric | 97477 | Springfield | Eugene-Springfield, OR | Oregon |
|---|---|---|---|---|
| Home Value | $406,586 | $422,099 | N/A | $493,884 |
| 5-Year CAGR | 2.6% | 2.9% | N/A | 4.9% |
| Avg Rent | $1,621 | $1,690 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97477 (Springfield, OR). Anonymous, moderated, never written by AI.
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Property managers serving Lane County
Manage rentals here? List your business →Preferred Northwest Property Management offers comprehensive property management services to make managing properties easy, effortless, and affordable. summary from their website
Trio Property Management Inc. provides property management services in Eugene, Springfield, Veneta, Coburg, Junction City, Creswell, and Elmira, helping owners protect rentals and increase returns. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $406,586 |
| Monthly Rent | $1,621 |
| Price-to-Rent | 20.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 5.8% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +2.6% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | -4.1% ▼ |
| 3-Year CAGR | +0.1% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97477
Population: 37,837
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97477
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Springfield, OR?
The median home value in Springfield, OR is roughly $407K. That puts it reasonable relative to the OR statewide average.
How much rent can I charge in Springfield, OR?
Springfield, OR rentals go for roughly $1,621/mo a month. That puts gross yield in solid territory relative to $407K acquisition costs.
Are tenants stable in Springfield, OR?
Working renters make up the core of the Springfield, OR tenant base. The pool is reasonable for investors targeting long-term holds.
What is the smart move for investors in Springfield, OR?
In Springfield, OR the notable play is typically careful cash-flow rentals with hands-on management. The combination of $407K prices and $1,621/mo rents suits that approach.
Is real estate in Springfield, OR a good investment right now?
Springfield, OR scores 3.0/5 for investability. Home values sit at $407K and rents near $1,621/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 97477 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97477 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 97477 ranks in Eugene-Springfield, OR
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