Price cut $340K
$1,550,000
1/54 BD · 2 BA · 2,477 SF · 198.8 AC
1774 W Ashwood Lane
Madras, OR 97741
#220192044 01 / 12
For sale
$1,555,000
1535 SW Highway 97
Madras, OR 97741 · Manathiela
- Baths
- 0
- Acres
- 1.45
- Built
- 1950
Est. $9,650/mo~66 min to downtown Bend (approx.)
Listing by Willow Canyon Group · 541-475-2220
MLS# 220227963 · Active
01
About this home
Fantastic Central Oregon Investment Property - Fifteen (15) Units, fully leased, professionally managed apartment complex. Don't miss this rare opportunity to purchase rental property in Madras, OR. These properties offer strong rental history & immediate cash flow opportunity. Each unit is 2 bedroom / 1 bath with mini split HVAC, washer/dryer hookups (some units provided). Walking distance to shopping, restaurants and bus service to Bend/Redmond. Excellent potential for investors looking to expand their portfolio with reliable income producing properties in a mature market at a affordable purchase price.
02
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03
Price history
37 days, no changes| Date | Event | Price |
|---|---|---|
| Aug 30, 2026 | Listed for sale | $1,555,000 |
From the MLS: original list price and latest price change. 37 days on market.
04
Drive times
~66 min to downtown Bend- Smith Rock State Park~33 min · 22.3 mi
- Redmond Airport (RDM)~45 min · 32.5 mi
- Sisters~53 min · 39.5 mi
- St. Charles Bend~64 min · 49.6 mi
- Downtown Bend~66 min · 51.4 mi
- Old Mill District~68 min · 52.4 mi
- Mt. Bachelor~85 min · 67.4 mi
- Sunriver Village~87 min · 69.1 mi
Approx. Straight-line distance × 1.3 for roads, at in-town and highway speeds. No traffic, snow, or Hwy 97 construction. Ask Cody about real commute times.
05
Facts & features
Built 1950- Type
- Multi Family
- Year built
- 1950
- Stories
- 2
- Lot
- 1.45 AC · 63,162 SF
- HOA
- None reported
- Taxes
- $14,442/yr
- Subdivision
- Manathiela
- County
- Jefferson
- Days on market
- 37
- MLS #
- 220227963
- Interior
- Laminate Counters · Linen Closet · Open Floorplan · Shower/Tub Combo
- Appliances
- Dishwasher · Dryer · Oven · Range · Refrigerator · Range Hood · Washer · Water Heater
- Flooring
- Carpet · Vinyl
- Heating
- Baseboard · Wall Furnace · Other
- Cooling
- Other · Ductless
- Parking
- Asphalt · Driveway · On Street
- Lot
- Corner Lot · Landscaped · Sloped
- Construction
- Block · Frame
- Roof
- Composition
06
Location & schools
Manathiela44.6155° N · 121.1341° W
Directions- Elementary
- Buff Elementary
- Middle
- Jefferson County Middle
- High
- Madras High
Assignments come from the listing broker and boundaries change. Verify with the school district before you count on them.
07
Monthly payment
$9,650/mo$9,650/mo
$1,244,000 loan · 30 yr fixed · 6.5%
- Principal & interest
- $7,863
- Property tax (listing)
- $1,203
- Home insurance (est.)
- $583
20% · $311,000
6.500%
Loan term
Estimate only. Taxes use the listing's reported amount when there is one; insurance is approximated. A lender can give you an exact number.
More
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#220225168Listing information provided by Oregon Data Share. Data last updated Oct 7, 2026, 1:01 PM.
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