Price cut $50K
$499,999
1/53 BD · 1 BA · 1,440 SF · 4.43 AC
585 SW Fairgrounds Road
Madras, OR 97741
#220214937 01 / 07
For sale New · 1d
$500,000
316 SW 1st Street
Madras, OR 97741 · Railroad
- Baths
- 0
- Acres
- 0.34
- Built
- 1979
Est. $2,889/mo~68 min to downtown Bend (approx.)
Listing by Willow Canyon Group · 541-475-2220
MLS# 220229648 · Active
01
About this home
Great rental investment property in Madras. There are 2 buildings, one built in 1944 a triplex with 1- two-bedroom unit & 2- one-bedroom units. The single unit built in 1977 is one 2-bedroom unit. The vacancy rate is very low, demand is high. Fantastic opportunity to get in the investment property market and/or add to a portfolio.
02
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03
Price history
1 days, no changes| Date | Event | Price |
|---|---|---|
| Oct 5, 2026 | Listed for sale | $500,000 |
From the MLS: original list price and latest price change. 1 days on market.
04
Drive times
~68 min to downtown Bend- Smith Rock State Park~35 min · 23.8 mi
- Redmond Airport (RDM)~47 min · 33.9 mi
- Sisters~54 min · 40.5 mi
- St. Charles Bend~66 min · 51.1 mi
- Downtown Bend~68 min · 52.8 mi
- Old Mill District~69 min · 53.9 mi
- Mt. Bachelor~86 min · 68.6 mi
- Sunriver Village~88 min · 70.5 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 1979- Type
- Quadruplex
- Year built
- 1979
- Stories
- 2
- Lot
- 0.34 AC · 14,810 SF
- HOA
- None reported
- Taxes
- $2,078/yr
- Subdivision
- Railroad
- County
- Jefferson
- Days on market
- 1
- MLS #
- 220229648
- Appliances
- Oven · Range · Refrigerator
- Flooring
- Carpet · Laminate · Tile
- Heating
- Ductless · Other
- Cooling
- Other · Ductless
- Parking
- On Street · Other
- View
- Neighborhood
- Construction
- Block · Brick · Frame
- Roof
- Metal
06
Location & schools
Railroad44.6317° N · 121.1345° 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
$2,889/mo$2,889/mo
$400,000 loan · 30 yr fixed · 6.5%
- Principal & interest
- $2,528
- Property tax (listing)
- $173
- Home insurance (est.)
- $188
20% · $100,000
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.
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#220206396Listing information provided by Oregon Data Share. Data last updated Oct 7, 2026, 1:01 PM.
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