MarkO'Brien

488 S 2nd St, Lebanon, OR 97355

$775,000
  • 488 S 2nd St, Lebanon, OR 97355 Main Photo

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Listing Courtesy of: KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
Agency Contact: DIREC: 541-451-2211
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BEDS3 BATHS2 full SQUARE FEET2,437 MLS#837521
STATUS PROPERTY TYPEResidential - Single Family SUBDIVISIONRalstons Second Add

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 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.

Property Features

Property Type: Residential - Single Family
Basement: Full, Unfinished
Basement: Yes
Fenced: Yes
Garage: 2
Lot Size: 0.24 Acres
Roof Type: Composition
Taxes: $4,395
Year Built: 1870

Feature Descriptions

Bathroom(s) (Level): 1.00 (Main), 1.00 (Upper)
Bonus Room(s): Other(Refer to Remarks), Walk-in Pantry
Days on Site: 104
Dining Room: Formal
Dishwasher: Yes
Exterior: Wood
Fenced Yard: Partial
Fireplace: Family Room, Stove
Flooring: Carpet, Vinyl, Wood
Formal Dining: Yes
Foundation: Slab
Heating/Cooling: Electric, Forced Air, Gas
Inclusions: Currently in place appliances
Lot Dimensions: 0.24 Acre(s)
Parking Notes: Detached
Patio: Covered Deck
Price Per Square Foot: 318.01
Range: Range Included
Sewer: Yes
Underground Sprinklers: Yes
Water: City, Well
Water Heater: Electric

Local Schools

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

Listed By / Shown By

Listed By

Agency Name: KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
Agency Contact: DIREC: 541-451-2211

Shown By

Agent Name: Mark O'Brien
Agent Phone: (541) 619-1920
Agency Title: Coldwell Banker Valley Brokers

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Estimated Payment

$ 2,317.11 per month $1,724.81 Principal & Interest $366.25 Property Tax $226.04 Homeowner's Insurance

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 05/28/2026. The listing information on this page last changed on 05/28/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Thu 05/28/2026 12:37:52 PM EST) or Willamette Valley MLS (last updated Thu 05/28/2026 12:32:51 PM EST). Real estate listings held by brokerage firms other than Coldwell Banker Valley Brokers may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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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.
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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.

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