Lebanon Homes under $500,000

Welcome to Lebanon, a charming city nestled in the heart of Oregon’s picturesque Willamette Valley. Known for its stunning natural beauty, Lebanon boasts a unique blend of small-town charm and modern convenience. This vibrant community is surrounded by lush forests, scenic mountains, and the serene Santiam River, making it a haven for outdoor enthusiasts. With a rich history that dates back to the mid-1800s, Lebanon offers a warm, welcoming atmosphere, complemented by a variety of local shops, parks, and community events that bring residents together.

For those seeking the perfect home in this idyllic city, you’ll be pleased to discover an array of properties available for under $500,000. Whether you’re a first-time homebuyer, a growing family, or looking to downsize, Lebanon has something for everyone. From charming single-family homes with spacious backyards to modern townhouses that offer low-maintenance living, the options are diverse and appealing.

Imagine unwinding in your cozy living room after a day of exploring the nearby Cascade Mountains or enjoying a picnic at Cheadle Lake Park. With affordable homes in a friendly community, Lebanon provides the perfect backdrop for creating lasting memories. Plus, with easy access to nearby cities like Albany and Corvallis, you can enjoy the tranquility of small-town life while still being close to urban amenities.

Come and explore the possibilities that Lebanon has to offer! Your dream home awaits in this enchanting city, where affordability meets quality living.

Newest Lebanon Homes under $500,000

$69,900

2 Beds ⋅ 1 Baths ⋅ 5112653 MLS

Great Opportunity in a Desirable Mobile Home Park! This 1972 two-bedroom, one-bath mobile home sits on a beautiful lot with a nice backyard and plenty of potential. The home could use some TLC but offers a great opportunity to create a comfortable space tailored to your vision and affordable living opportunity. Enjoy the benefits of a desirable park setting while putting your own personal touches on this property. Bring your ideas and discover the possibilities!

22 Rudsboro Rd Unit #46, Lebanon

$227,500

2 Beds ⋅ 2 Baths ⋅ 5111515 MLS

This affordable, low-maintenance Townhouse offers a functional and comfortable floor plan. The first floor features an eat-in kitchen, a spacious living room, and a convenient half bath. Upstairs you will find two bright bedrooms and full bath. The basement provides additional flexible space perfect for a home office, recreation room, or other needs. There is a trex deck with a Sunsetter Retractable Awning for you to enjoy.

220 Mascoma St Unit 14, Lebanon

$369,000

3 Beds ⋅ 2 Baths ⋅ 5109896 MLS

Opportunity awaits on a beautiful ±1.06-acre lot with a spacious yard offering plenty of room for gardening, recreation, or simply enjoying the outdoors. Built in 1900, the main home features 3 bedrooms, 1½ baths, a kitchen with built-ins, den, dining area, center foyer, and finished attic space on the third level. A separate area within the structure offers potential for an in-law suite or ADU, if desired and subject to City approvals. For a buyer with vision, this property offers plenty of possibilities. Make the repairs and updates needed while reimagining the existing home to suit your style and needs, or consider starting fresh and creating the home of your dreams on this lovely lot. The location adds to the appeal, offering the convenience of being just a half mile from downtown Lebanon, less than a mile from Alice Peck Day Memorial Hospital, and a little over a mile to I-89. Dartmouth Hitchcock Medical Center is approximately five miles from the property, with shopping, dining, recreation, and the many amenities of the Upper Valley within easy reach. Property is being sold in “as is” condition. *Join us for the Open House this Saturday 9/19/26 from 1:00 pm to 3:00 pm.*

61 Slayton Hill Rd, Lebanon

$399,000

3 Beds ⋅ 1 Baths ⋅ 5109856 MLS

MOTIVATED SELLER- PRICE REDUCTION! Welcome to this well-maintained 3-bedroom, 1-bath ranch, lovingly cared for by the same owners for an impressive 48 years. Offering convenient one-level living and a comfortable, functional layout, this home is ready for its next chapter. Enjoy a fantastic Lebanon location within walking distance to the Rail Trail and Lebanon Green, with downtown shops, restaurants, and community activities close by. Dartmouth Hitchcock Medical Center and Dartmouth College are both just a short commute away. With its long history of attentive ownership, convenient location, and classic ranch-style living, this is a wonderful opportunity to make a well-loved home your own.

223 Bank Street Ext, Lebanon

$227,500

2 Beds ⋅ 2 Baths ⋅ 5109763 MLS

This affordable, low-maintenance townhouse offers a functional and comfortable layout. The first floor features an eat-in kitchen, a spacious living room, and a convenient half bath. Upstairs, you’ll find two bright bedrooms and a full bath. The basement provides additional flexible space perfect for a home office, recreation room, or other needs. Conveniently located near Dartmouth Hitchcock Medical Center, Alice Peck Day Memorial Hospital, shopping, restaurants, major employers, scenic trails, and the Lebanon Green. With easy access to I-89 and I-91, commuting and travel are a breeze.

220 Mascoma St Unit 8, Lebanon

$469,900

3 Beds ⋅ 2 Baths ⋅ 5109752 MLS

Welcome Home to Your Peaceful Country Retreat. Nestled on 2.74 picturesque country acres along a private gravel road, this charming 3-bedroom, 2-bath contemporary Cape offers the perfect blend of comfort, privacy, and natural beauty. Surrounded by mature fruit trees, established gardens, and the soothing sounds of nature, this property provides a peaceful escape from the everyday hustle and bustle.The home features a 2-car drive-under garage for convenient parking and storage, plus a detached 2-car garage offering exceptional space for vehicles, hobbies, equipment, or a workshop. Enjoy the outdoors from two spacious decks, perfect for morning coffee, entertaining, or simply relaxing while listening to Mother Nature. With plenty of acreage to garden, explore, and enjoy, this property offers room to breathe and endless possibilities. Private, serene, and surrounded by nature, this is country living at its best. Open Houses Thursday 9/24 4:00-6:00 and Sat 9/26 11:00-1:00

29 Gile Way, Lebanon

$478,000

3 Beds ⋅ 2 Baths ⋅ 5109143 MLS

Welcome to 80 1/2 Mascoma Street, a well-located 3-bedroom home in Lebanon offering a wonderful combination of comfortable living space, a level yard, and easy access to local amenities. Inside, you’ll find three comfortable bedrooms, a full bath, a bright and welcoming living room with large corner windows that fill the space with natural light, and a functional kitchen with room for everyday meals. Recent 2024–2025 updates add peace of mind and include a new furnace, hot water tank, garage roof, and new flooring in the kitchen and bathroom. The unfinished lower level offers potential for flexible bonus space, whether you envision a home office, exercise area, workshop, hobby room, or recreation space. Outside, the level yard provides room for gardening, outdoor activities, entertaining, or simply enjoying time at home. A two-car garage adds valuable storage and everyday convenience. The location is a true highlight, with Alice Peck Day Memorial Hospital, downtown Lebanon, shopping, dining, and other local amenities just minutes away. With its recent updates, versatile layout, inviting yard, and convenient setting, 80 1/2 Mascoma Street is ready for its next owner to make it home.

80 Mascoma St, Lebanon

$360,000

3 Beds ⋅ 3 Baths ⋅ 5109069 MLS

When it comes to complex, comfort and convenience this unit comes close to complete!! This condominium offers ease of living from the entry with its closet for outerwear to the comfortably sized living room/dining room area and a kitchen with peninsula and ample cupboard space. In addition, there is a half bathroom and laundry on the main level. The second floor offers three generously size bedrooms; the primary has an ensuite bathroom and the other two bedrooms share a bathroom. These condominiums are sited for privacy yet close to the hospitals, shopping, restaurants with easy access to the highway. A bonus to have a deck off the living room and a carport too!!

40 Wolf Rd Unit Unit 14, Lebanon

$375,000

2 Beds ⋅ 1 Baths ⋅ 5108740 MLS

Turnkey and ready to enjoy! This charming 2-bedroom, 1-bath home is being sold fully furnished with brand-new furnishings throughout. Cathedral ceilings in the living room and kitchen create a bright, open and airy feel, while the comfortable layout makes the most of the space. Set on a private 0.33-acre lot directly across the street from the Mascoma River, you'll enjoy a peaceful setting while still being just minutes from shopping, dining, entertainment and everyday conveniences. A carport provides additional covered storage and added functionality. With its inviting interior, convenient location and completely furnished setup, this home offers an easy move-in experience just bring your personal belongings and settle in! New water heater and boiler installed 2026.

169 Glen Rd, Lebanon

$395,000

2 Beds ⋅ 1 Baths ⋅ 5107802 MLS

Welcome home to this inviting 2-bedroom property offering the ease of one-floor living along with a great blend of charm, updates, and flexible space. The original home features hardwood flooring throughout, along with a beautifully renovated full bath. A recent addition expands the living space with a comfortable family room and larger kitchen, creating a welcoming layout for everyday living and entertaining. The finished space in the basement offers plenty of possibilities for a game room, home office, workout area, or hobby space. Outside, the level yard provides room to relax, garden, or play, while a storage shed and covered carport offer plenty of space for lawn equipment, recreational toys, tools, and seasonal items. With one-floor living, thoughtful updates, added living space, and plenty of storage, this home offers comfort, convenience, and versatility inside and out.

4 Barnes Ave, Lebanon

$329,000

2 Beds ⋅ 3 Baths ⋅ 5107345 MLS

Welcome to Village Green Condominium Association. Located just off the beaten path, this community offers quiet surroundings while remaining close to town amenities, including walking, biking, driving, and public transportation options. It is also just a 15-minute drive from Dartmouth-Hitchcock Medical Center. This spacious and bright condo features a direct-entrance garage leading into a kitchen and an open living dining area. The main floor includes two bedrooms, while interior stairs lead to a partially finished walk-out basement that features a family room, office, den, and laundry room. Outside, you can enjoy a private patio, deck, and well-groomed surroundings. Furnished photos are virtually staged.

29 Pleasant St Unit 60, Lebanon

$495,000

5106772 MLS

Excellent investment opportunity with potential for a third unit. This well-located two-family property sits just off the Lebanon Green and Colburn Park, with immediate access to downtown Lebanon’s restaurants, shops, Lebanon Opera House, public library, farmers markets, and community events. The first-floor unit offers 3 bedrooms, 1 full bath, living room, kitchen, and laundry room, with the laundry room also providing additional storage. The second-floor apartment features 2 bedrooms, 1 full bath, living room, kitchen, and its own laundry room. An attached barn at the rear of the property is currently used for storage and offers potential for additional living space. Preliminary plans for a possible third unit are available for review, providing an opportunity to add value and future rental income, subject to approvals. Prime location, flexible layout, and expansion potential make this a compelling opportunity for an investor or owner-occupant looking to generate rental income in the heart of downtown Lebanon.

16 Parkhurst St, Lebanon

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