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.
2 buildings/4 Units. Great income producer with desirable cap rate. Triplex offers 3bd, 2bd & 1bd. 2nd structure as a 2bd on its own tax lot. Vacancy rates are low with little to no inventory available. Fantastic opportunity to get into the investment property market and/or add to one's portfolio. Three of the tenants are on a month to month agreement. Motivated seller has identified a replacement property out of state and is eager for quick close. Seller to provide $4000 for exterior paint at closing.
MLSCO #201102059
Jul 10, 2012
Sold
$96,000
$30/sq ft
Jun 13, 2012
Listing Removed
—
Mar 22, 2011
Listed
$120,000
$38/sq ft
+2
Older 4 plex in downtown Madras in decent shape. 2 builodings. Good renters. Laundromat next door. Easy access to stores. Owner pays some of the utilities, gargabe, water, sewer and yard maintenance. Stable renters with one renting for over 15 years. Great investment to show 8+% return on investment.
MLSCO #2513158
Apr 28, 2006
Sold
$199,000
$63/sq ft
Apr 25, 2006
Listing Removed
—
Dec 3, 2005
Listed
$199,000
$63/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$2,078 (+1.7%)
2024
$2,043 (+6.8%)
2023
$1,913 (+1.5%)
2022
$1,885 (+4.4%)
2021
$1,805 (+2.1%)
2020
$1,767 (+3.6%)
2019
$1,705 (+3.3%)
2018
$1,651 (+3.8%)
2017
$1,591 (+3.5%)
2016
$1,537 (+4.6%)
2014
$1,470
Public record
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
0.34 Acres
Year renovated
1979
Finished Sq. Ft.
3,160
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,160
Year built
1944
Style
Single Family Residential
County
Jefferson County
APN
111311-AC-00401
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 13, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
5/10 Fire Factor
7% chance of being in a wildfire in next 30 years
4/10 Heat Factor
7 days above 95° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
18 unhealthy days expected this year, 22 days in 30 years
Provided by First Street
Historical weather
Madras, OR • 97741
Average low and high temperatures (°F)
41
26
45
28
56
35
61
35
71
41
78
46
87
53
86
54
80
49
61
37
50
33
45
32
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 10.8 hours in
June and 2.2 hours in December, which is comparable to the
U.S. average for solar exposure.
10.8 hrs
2.2 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 316 SW 1st St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $385,000 and $595,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $385K to $595K.