Lebanon Homes under $500,000

Welcome to Lebanon, a charming city nestled in the heart of the beautiful state of Oregon. Known for its stunning natural landscapes, Lebanon boasts a rich history and a vibrant community spirit. With its proximity to the majestic Cascade Mountains and the serene Willamette Valley, residents enjoy an abundance of outdoor activities, from hiking and camping to fishing and cycling. The city is also home to a variety of local shops, delicious dining options, and a strong sense of community, making it an ideal place to call home.

For those looking to settle down in this picturesque locale, Lebanon offers a fantastic selection of homes priced under $500,000. Whether you're a first-time homebuyer, a growing family, or looking to downsize, you'll find a diverse range of properties that cater to your needs. From charming single-family homes with spacious yards to modern townhouses with contemporary finishes, there’s something for everyone in this thriving market.

Lebanon's real estate scene is flourishing, with homes that provide both comfort and affordability. Many properties feature beautiful landscaping, ample living space, and are conveniently located near schools, parks, and essential amenities. This makes it easy for residents to enjoy the best of what Lebanon has to offer while staying within budget.

Explore the possibilities of owning a home in Lebanon, where affordability meets charm. With its welcoming community and stunning surroundings, your dream home awaits in this delightful city!

Newest Lebanon Homes under $500,000

$134,900

2 Beds ⋅ 1 Baths ⋅ 26062999 MLS

Property Description Welcome to 867 W Park Manor Blvd in Lebanon, Missouri! This inviting 2-bedroom, 1-bath home offers comfortable living in a convenient location. The practical layout provides a cozy space to call home, while the detached garage offers valuable additional parking and storage. Conveniently located near local shopping, dining, schools, parks, and everyday amenities, this property combines the appeal of a residential setting with easy access to everything Lebanon has to offer. Whether you're a first-time buyer, downsizing, or looking for an investment opportunity, 867 W Park Manor Blvd is ready for its next owner to make it their own!

867 W Park Manor Blvd, Lebanon

Courtesy of Eagle Realty Group & Associates 573-336-0003

$184,900

3 Beds ⋅ 2 Baths ⋅ 26062859 MLS

Welcome to this charming 3-bedroom, 1.5-bath home nestled in an established south-side neighborhood with a convenient location close to shopping, dining, schools, and other everyday amenities. Offering timeless appeal and a comfortable layout, this home is move-in ready and ready for its next chapter. Inside, you'll find a spacious living room that provides plenty of room for relaxing, entertaining, and everyday living, along with three bedrooms featuring brand-new carpet, creating a fresh and inviting feel throughout the home. The home offers the added peace of mind of a BRAND NEW HVAC system, as well as a roof that is less than five years old. Additional recent improvements also include a brand-new garage door, adding both function and curb appeal. Outside, the fenced-in backyard provides a great space for outdoor enjoyment, pets, gardening, or simply relaxing at home. Located in a well-established neighborhood on the south side of town, this property offers the convenience of being close to the places you need while maintaining the comfortable feel of an established residential setting. With its combination of classic character, fresh updates, fenced backyard, and prime location, this home is a great opportunity for buyers looking for a property that is ready to enjoy from day one.

155 Jessie St, Lebanon

Courtesy of Century 21 Laclede Realty 417-588-1200

$195,000

3 Beds ⋅ 1 Baths ⋅ 26062617 MLS

Welcome to this three bedroom, one bathroom home that sits on almost two acres and is ready and waiting for its new owners! This property has had major recent updates to give you peace of mind and move in ready status! This home features new siding which was replaced is 2025 and a new roof which was installed in 2024. There are two living areas, one of which could make a great home office. The TV and fireplace in the second living area will be staying with the home as well! There is a separate dining area off of the kitchen which showcases quartz countertops and leads into a walk in pantry. The outdoor space of this 1.80 acre property includes a pond and blackberry bushes for the entire family to enjoy. This is one home you don't want to waste time seeing, schedule your private tour today!

26853 Hwy O, Lebanon

Courtesy of Century 21 Laclede Realty 417-588-1200

$189,900

4 Beds ⋅ 4 Baths ⋅ 26060336 MLS

INVESTMENT OPPORTUNITY WITH SERIOUS POTENTIAL! Looking for your next flip or a home where you can put in the work and build equity? This property offers an exciting opportunity for investors, renovators, or buyers ready to transform a home into something special. With a spacious floor plan, attached two-car garage, covered front porch, multiple dormers, hardwood flooring in portions of the home, and plenty of character, there is a solid foundation for a beautiful renovation. The home is in need of repairs and updating, giving the next owner the opportunity to choose the finishes, colors, flooring, and improvements that fit their vision. The existing kitchen offers abundant cabinetry, while the generous room sizes provide plenty of flexibility for a modern redesign. Outside, mature trees, a large covered porch, deck area, and established lot add even more potential. Whether you’re an investor searching for a property to renovate and resell, or a buyer willing to trade some sweat equity for the opportunity to create a home of your own, this one deserves a look. Bring your tools, your ideas, and your imagination—the potential is here!

32539 Odessa Dr, Lebanon

Courtesy of RE/MAX Next Generation 417-991-3333

$249,900

4 Beds ⋅ 3 Baths ⋅ 26062191 MLS

Well-maintained home situated on four spacious city lots, offering plenty of room inside and out. The home features durable aluminum siding and a metal roof for easy, long-term maintenance. The main level includes a functional galley-style kitchen, two bedrooms, and comfortable living spaces. Enjoy outdoor living from two composite decks or relax in the inviting 3-season room. The full finished basement adds valuable living space with a gas fireplace, kitchenette, and two nonconforming bedrooms ideal for guests, a home office, hobby space, or additional family living. With its versatile layout, abundant finished space, and convenient in-town setting, this property offers a great combination of comfort, functionality, and outdoor space.

861 Allen St, Lebanon

Courtesy of Century 21 Laclede Realty 417-588-1200

$389,900

4 Beds ⋅ 2 Baths ⋅ 26058856 MLS

WELCOME HOME to YOUR NEW MODERN CRAFTSMAN STYLE HOME on 5 ACRES ML of PASTURE THIS HOME IS CLOSE TO TOWN On BLACKTOP with ROAD FRONTAGE on TWO SIDES. THIS 4 BEDROOM, 2 BATH, HOME has a 2 CAR ATTACHED GARAGE, 2209 SQ FT OF LIVING SPACE IT.s has been TOTALLY REBUILT and UPDATED HOME. IT HAS A VERY OPEN STYLE KITCHEN & LIVING ROOM COMBO, LARGE CENTER ISLAND, ALL NEW WINDOWS, SIDING, SHINGLES, GUTTERING, WIRING, PLUMBING, DRYWALL, TRIM, DOORS, INTERIOR PAINT, NEW KITCHEN CABINETRY, STAINLESS APPLIANCES, NEW UPDATED BATHROOMS. W/NEW SHOWERS, TOILETS, SINKS-VANITY, NEW FANS & LIGHTING FIXTURES, THE MASTER BEDROOM IS SEPARATE FROM THE OTHER BEDROOM AREA NEW CENTRAL HEAT & AIR, ALL NEW SPLIT RAIL FENCING, TOTALLY REMODELED !! THIS PROPERTY IS ALSO LISTED with 30+ ADDITIONAL ACRES TO ICLUDE A METAL BUILDING with INDOOR RIDING ARENA

24111 Evanston Rd, Lebanon

Courtesy of Realty Executives of Lebanon 417-588-7000

$290,000

3 Beds ⋅ 3 Baths ⋅ 26061873 MLS

Welcome home to this beautifully maintained 3-bedroom, 3-bath ranch offering 1,552 square feet of thoughtfully designed living space, a spacious fenced backyard, and a fantastic location on a quiet cul-de-sac street. From the moment you arrive, the charming covered front porch sets the tone for the warmth and comfort found throughout this home. Step inside to a welcoming foyer that flows effortlessly into the open living room, kitchen, and dining area—creating an ideal space for everyday living and entertaining. The kitchen features beautiful cabinetry, a breakfast bar, abundant natural light, and all appliances, making it both functional and inviting. The split-bedroom floor plan provides privacy for everyone. The spacious primary suite features a walk-in closet and a private bath complete with a separate tub and shower. Convenient access to the main-floor laundry adds to the functionality of the primary suite and daily living. Two additional generously sized bedrooms provide plenty of space for family, guests, or a home office. The possibilities continue downstairs! The lower level is ready to be finished, offering an egress window, a finished full bathroom, and an office area—providing an excellent opportunity to create additional living, recreational, hobby, or workspace. Enjoy outdoor living in the spacious, completely fenced backyard, featuring a patio with pergola—perfect for relaxing, entertaining, or enjoying your morning coffee. A utility shed provides additional storage for lawn equipment and outdoor essentials. The 23' x 23' attached garage offers plenty of room for vehicles, storage, and more. Additional highlights include a high-efficiency HVAC system, newer water heater, water softener and a new roof in 2025. Conveniently located near Scott Air Force Base, Interstate access, MidAmerica St. Louis Airport, area colleges, shopping, dining, and everyday amenities, this home offers the perfect combination of comfortable living, outdoor space, future potential, and convenience. This is more than a house—it’s a place to put down roots, entertain, relax, and make it your own. Come see everything this wonderful Lebanon home has to offer!

9919 Debentroy St, Lebanon

Courtesy of RE/MAX Alliance 618-345-2111

$325,000

3 Beds ⋅ 2 Baths ⋅ 26061686 MLS

Ranch home on 3 acres off paved road. Close to town. Spacious room sizes. Living room and sunroom/family room. Large soaker tub. Walk in closets. Fenced yard. Covered patio backs to trees. New roof. Newer HVAC. Less than 5 minutes to Joel E Barber Elementary. 10 minutes to Bennett Spring State Park.

16301 Early Ln, Lebanon

Courtesy of Platinum Realty of St. Louis 888-220-0988

$334,900

3 Beds ⋅ 2 Baths ⋅ 26061597 MLS

Construction is now complete! Yes, affordable living with a country setting is now within your reach! This 1,664 sf home is brand new construction, sitting on a 1.62 acre lot ON PAVEMENT within the Lebanon school district. The home offers an open layout with vaulted ceilings & luxury vinyl plank flooring throughout, with three bedrooms, 2 baths, and a 2-car attached 24x24 garage. The kitchen features a large center island, beautiful granite countertops, custom cabinets, a walk-in pantry, and stainless-steel dishwasher and microwave (a $2,000 credit will be provided so the buyer may select the refrigerator and range of their choosing.) With a split bedroom floor plan that buyers love, the primary suite offers a roomy walk-in closet, attached bath with double granite vanity, and a walk-in shower. Enjoy peaceful views and sunsets while sitting on your back COVERED deck each evening. A one-year Builder’s warranty is included.

31125 Old Hwy 5, Lebanon

Courtesy of Prosper Real Estate 417-718-9375

$350,000

2 Beds ⋅ 1 Baths ⋅ 26061207 MLS

Discover the privacy and versatility of this 17-acre property offering a 2-bedroom, 1-bath single-wide home, large detached shop, and multiple additional improvements located in the Joel E Barber School District. The spacious shop features two garage doors, a loft for additional storage or workspace, and plumbing already in place for a bathroom. The property offers both a wood furnace and propane for heating. A private well and lagoon provide essential utilities, while a separate shower house and RV hookups add convenience for guests, recreation, or additional accommodations. The opposite side of the property includes two platted 1-acre lots, each with access to city water, offering potential for future homesites or additional uses. With two access points, a secluded private setting, and no immediate neighbors, this property offers a unique combination of acreage, existing improvements, privacy, and future development potential.

25190 Mcdonald Dr, Lebanon

Courtesy of RE/MAX Lake of the Ozarks 573-302-2300

$350,000

2 Beds ⋅ 1 Baths ⋅ 3590287 MLS

25190 McDonald Drive, Lebanon

Courtesy of RE/MAX Lake of the Ozarks (573) 302-2300

$94,900

2 Beds ⋅ 2 Baths ⋅ 26061497 MLS

This two bedroom, one and half bathroom home is priced to sell and ready for its new owner! This home had a new roof and gutters installed in 2025, has a fully fenced back yard, two covered back decks for entertaining, a new furnace less than five years ago, and a detached garage for additional storage. Whether you are an investor ready to add to your rental portfolio, looking for your first flip project, or a first time home buyer looking to add your personal touches to a home-this is for you! Schedule your tour today!

445 Laclede St, Lebanon

Courtesy of Century 21 Laclede Realty 417-588-1200

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Listing information is provided courtesy of the Broker Reciprocity/IDX of Bagnell Dam Association of REALTORS® and Lake of the Ozarks Board of REALTORS®, Inc. Multiple Listing Services. Copyright 2026 Multiple Listing Service, Inc. of Bagnell Dam Association of REALTORS® MLS, Inc. and Lake of the Ozarks Board of REALTORS® MLS, Inc. Information is being 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 herein is believed to be accurate and timely, but no warranty as such is expressed or implied. 2026 Century 21 Community