Views
Address
488 S 2nd St, Lebanon, OR
Price
$ 775,000
Property Attributes
- MLS#837521
- TypeSingle Family
- Listing Status Active
- MunicipalityLebanon
- CountyLINN
- CityLebanon
- Area80 LINN COUNTY
- NeighborhoodRalstons Second Add
- Zip97355
- Style2 Story
- Year Built1870
- Taxes$ 4395
- Price$ 775,000
- Bedrooms3
- Full Bathrooms2
- Half Bathrooms0
- Sqr Footage2437
- Lot Size0.24 Acres
Data Source:
Willamette Valley MLS (WVMLS)
Property Description
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 todayâs 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 refrigeratorsâideal 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 Lebanonâs 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 lifestyleâfilled with warmth, elegance, flexibility, and future potential. Homes with this level of history, scale, location, and character rarely come available.
| Elementary School | Middle School | High School |
|---|---|---|
| Green Acres Elementary School | Seven Oak Middle School | Lebanon High School |
| Price History | |
|---|---|
| 2/13/2026 | Listed $775,000 |
General Features
| Kitchen Level | 1/Main |
|---|---|
| Water | City,Well |
| New Construction | No |
| Subdivision | Ralstons Second Add |
| Water Heater | Electric |
| County | Linn |
| Class | Residential |
| Type | Residence |
| Block | 18 |
| Yearly Taxes | 4395 |
| Location | Front door |
| Roof | Composition |
| Associated Document Count | 3 |
| Status | ACTIVE |
| 55+ Community | No |
| Subdivision | OR |
| Handicap Amenities | No |
| HOA | No Association |
| Sale/Rent | For Sale |
| Green Home | No |
| Primary City | Lebanon |
| Year Built | 1870 |
| City | Lebanon |
| Middle School | Seven Oak |
| HOME WARRANTY | Negotiable |
| High School | Lebanon |
| DOM | 210 |
| Postal Code | 97355 |
| Price Per Sq Ft Total AG | 318.01 |
| Price Per Sq Ft Total AG | 318.01 |
| TERMS SELLER WILLCONSIDER | Cash,Conventional,Federal VA,FHA,USDA |
Interior Features
| Family Room Level | 1/Main |
|---|---|
| Dining Room Level | 1/Main |
| Living Room Level | 1/Main |
| Basement | Full,Unfinished |
| Flooring | Carpet,Vinyl,Wood |
| Beds | 3 |
| Total Baths | 2 |
| Full Baths | 2 |
| Dining Room | Formal |
| Fireplace | Family Room,Stove |
| Baths on Level 1 | 1 |
| Baths on Level 2 | 1 |
| Bonus Rooms | Other(Refer to Remarks),Walk-in Pantry |
| Dual Living | No |
| Heating-Cooling | Electric,Forced Air,Gas |
| Dishwasher | Yes |
| Disposal | Yes |
| High Speed Comm Access | Available |
| Total Baths | 2 |
Exterior Features
| Foundation | Slab |
|---|---|
| Garage Type | Detached |
| Price per Acre | 3229166.67 |
| Lot Size Area | 0.24 |
| Garage Capacity | 2 |
| Water Rights | No |
| Underground Sprinklers | Yes |
| Flood Plan | No |
| Patio | Covered Deck |
| Landscape | Yes |
| Timber | No |
| Siding | Wood |
| Fenced Yard | Partial |
| Lot | 4 |
| SEWER - CITY | Yes |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 97355
Price
Taxes
Year Built
Visits
Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. Copyright © 2026 WVMLS. All Rights Reserved. Information last updated on September 16, 2026 5:39 PM UTC
