Property listing for 1943 Monterey Ln, Eugene, OR 97401
ActiveSingle Family Home

$415,000

1943 Monterey Ln, Eugene, OR 97401

Large Lot Ranch — Garage-Converted ADU Potential, Close to Downtown

3 Bed · 2 Bath · 1,638 Sq Ft

3-BR ranch on 10,018 SF lot with converted garage and ductless heat pump

3

Beds

2

Baths

1,638

Sq Ft

1957

Built

0.23 acres

Lot

Converted garage (exterior door) — no functional attached garage

Garage

About 1943 Monterey Ln

This one-story 1957 ranch at 1943 Monterey Ln delivers rare central-Eugene value: a generous 10,018 SF level lot, flexible living spaces, and immediate upside for an owner-occupant or investor. The 1,638 SF floorplan includes three main bedrooms plus a garage conversion that functions as additional living space with its own exterior entrance — ideal as a fourth bedroom, private studio, or the foundation for a permitted ADU (buyer to verify).

Inside you'll find a practical layout with hardwood and vinyl plank floors, freshly painted interiors, and two fireplaces that add warmth and character. The kitchen supports a homeowner upgrade with ready access to the dining and outdoor spaces. The home is served by a three-head ductless heat pump system for efficient heating and cooling; there are also two fireplaces for supplemental heat. The bath setup in the listing reflects a full bath plus two half-baths — confirm specifics during review.

Step outside to a covered patio that overlooks raised garden beds — an excellent spot for barbecues, gardening, and year-round enjoyment. The oversized lot is the standout feature: room for ADU expansion, a workshop, a large garden, or landscaping projects that increase privacy and value. Located in the Ferry Street Bridge / central Eugene corridor, the property is minutes to downtown, the Willamette River, parks, and local eateries.

This home is being sold AS-IS, offering a straightforward purchase for buyers who want to add value through modest renovations or take on an ADU permitting project. With a coveted lot and conversion already in place, this property is positioned for immediate utility and future upside.

Home Highlights

10,018 SF level lot — room for ADU or expansionGarage already converted with exterior door — immediate income potential3-head ductless heat pump provides efficient comfortCovered patio and raised garden beds for outdoor livingClose proximity to downtown and riverfront recreation

Property Features

Interior Features

  • 1,638 finished SF single-level living
  • 3 bedrooms; garage conversion provides extra living/bedroom space
  • 1 full bath + 2 half baths (per listing) — verify
  • Vinyl plank and hardwood floors
  • Two fireplaces
  • Built-in oven, cooktop, dishwasher, disposal
  • Double-pane windows with vinyl frames
  • Fresh interior paint

Exterior & Lot

  • Large, level 10,018 SF lot (~0.23 acres)
  • Covered patio overlooking raised garden beds
  • Garage converted to living space with separate exterior access
  • Driveway parking + street parking
  • Mature landscaping and room for expansion/ADU

Location & Neighborhood

  • Ferry Street Bridge / central Eugene corridor
  • Short drive to downtown Eugene, restaurants, breweries and riverfront parks
  • Near public transit routes and local shopping
  • Walkable to neighborhood services (grocer, coffee, dining within 1–2 miles)

Walkability & Recreation

  • Walkability Rating: 65/100
  • Close to Willamette River trails and neighborhood parks
  • Easy access to downtown amenities and community events

Neighborhood & Location

This property sits in a central-west Eugene pocket near the Ferry Street Bridge and Willamette River corridor. The neighborhood mixes mid-century ranches, small bungalows, and occasional newer infill. Residents enjoy proximity to downtown's restaurants, coffee shops and cultural venues, with convenient bike and transit connections. The area attracts buyers who want city access without the density of core downtown.

Market Insights

Central Eugene remains a steady market with continued buyer interest for well-located single-family homes. Inventory in 2026 is moderate to low in desirable pockets near downtown; median sold prices in central corridors sit above citywide medians, though older homes that need cosmetic work trade at a discount to fully renovated properties. Homes with additional income potential (ADUs, rentable conversions) command stronger buyer attention. For buyers, this is a balanced opportunity: acquisition at $415,000 anchors a reasonable price-per-square-foot (~$253), and the oversized lot creates optionality that typical city lots do not. Sellers receive interest fast if pricing and condition align; buyers who plan improvements and permitting should budget time and permit costs. Overall confidence in this market read: moderate (0.65–0.75) — verify comps with a local broker for a contract strategy.

Nearby Schools

Madison Elementary (Eugene School District 4J)

Elementary · Verify with district (within ~1–2 miles)

6/10 (approximate)

Kelly Middle School (Eugene School District 4J)

Middle · Verify with district (within ~1–2 miles)

6/10 (approximate)

South Eugene / Willamette (district assignments vary)

High · 1.5–3 miles (approximate)

Varies by school; verify assignment

Walkability & Recreation

65
Walkability
78
Recreation

Easy access to Willamette River trails, neighborhood parks, and bike routes; solid outdoor recreation options within a short drive or bike ride.

Investment Highlights

  • Large 10,018 SF lot — rare for central Eugene and supports ADU/expansion
  • Existing garage conversion with exterior access — immediate rental or multigen use
  • Three-head ductless heat pump (efficient HVAC upgrade already in place)
  • Covered patio and established raised garden beds — outdoor amenity appeal
  • Close proximity to downtown Eugene, Willamette River corridor and transit

Key Findings

  • Listed at $415,000 (approx $253/sf) for a 1,638 SF single-story home.
  • 1957-built ranch with 3 beds, 1 full bath and 2 half baths as listed (verify bath configuration).
  • Garage has been converted to living space — useful as a 4th bedroom or potential ADU.
  • Large level lot (10,018 SF) creates redevelopment/expansion potential subject to permitting.
  • Property being sold AS-IS.
  • Ductless mini-split system (three heads) present — energy-efficient heating/cooling.

Things to Consider

  • Sold AS-IS — deferred maintenance or hidden defects possible; recommend inspection.
  • ADU conversion/permits and utilities routing must be verified with City of Eugene before assuming rental income.
  • Garage conversion legality and seismic/electrical/plumbing compliance may require remediation costs.

Opportunity Analysis

Acquire a centrally located single-story home with immediate rental or multigenerational options via an existing garage conversion and long-term upside from formal ADU conversion or lot redevelopment. The 10,018 SF lot provides leverage for added living area or income-producing units in a market with steady demand.

Potential Use Scenarios

  • Buy-and-hold as primary residence while permitting the converted garage as an ADU for supplemental income.
  • Light-to-moderate renovation to update kitchen and baths then list for retail sale to owner-occupiers.
  • Investor rehab to bring systems up to code and market as multi-unit/ADU property.

Risk Factors

  • Cost and timeline of bringing garage conversion/ADU to permitted status.
  • Unknown deferred maintenance due to AS-IS sale.
  • Market shifts locally could compress resale margins if inventory increases.

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$390K

Midpoint

$413K

High

$435K

$252.8/SF estimated price per square foot

65% confidence

Estimate anchored to list price ($415,000) and documented price/sqft (approx $253). Range reflects local market for older single-story homes near central Eugene, lot size premium, and ADU/garage-conversion upside. No live comparable sales fetched — verify with broker or appraiser.

As of 2026-03-12

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$470,000
Avg Days on Market30 days
Inventory2.5 months
1-Year Appreciation+350.0%

Demographics

Population (1 mi)11,000
Median Income (1 mi)$52,000

Eugene's central neighborhoods experience steady demand from local buyers, renters tied to University of Oregon and city employers; moderate appreciation in recent years.

Nearby Points of Interest

  • Ferry Street Bridge & Riverfront Park (within ~1 mile)
  • Downtown Eugene (1–2 miles)

Within a short drive to downtown Eugene amenities, restaurants, breweries, the Willamette River corridor and parks. Grocery and shopping available within 1–2 miles; transit routes serve central Eugene.

School District

DistrictEugene School District 4J
ElementaryMadison Elementary (Eugene SD 4J) — rating ~6/10 (verify assignment)
MiddleKelly Middle School (Eugene SD 4J) — rating ~6/10 (verify assignment)
HighEugene High / South Eugene options or Willamette High (district assignments vary) — rating variable; verify with district

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built1957
Constructionwood frame (typical for era)
Stories1
Heatingductless heat pump (3-head) plus fireplaces (wood/insert or gas—verify)
Coolingductless heat pump provides cooling
Basementnone
FireplaceYes
Conditionaverage

Lot & Site

Lot Size0.2299 acres (10,018 SF)
Topographylevel
Parkingdriveway_and_on_street
Parking Spaces2

Utilities

WaterPublic Water
SewerPublic Sewer
ElectricAssumed public electric (standard connection)
GasUnknown (not listed; likely natural gas available nearby)

Zoning & Land Use

Zoning Codelikely R-1 or equivalent single-family residential
DescriptionTypical single-family residential zoning; small-lot single-family with potential accessory dwelling unit (ADU) subject to city code and permit
JurisdictionCity of Eugene

Allowed Uses

Single family dwellingAccessory dwelling unit (with permit)Home occupations (limited)Conditional uses per City code
Current Useresidential

Tax & Sale History

Tax Assessment

Sale History

2026-03-11$415,000

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