Discover the potential of this property in the desirable Oregon Water Wonderland community. Situated on nearly half an acre, the spacious lot offers room to spread out while enjoying the peace and privacy of one of Central Oregon's favorite neighborhoods. Just minutes from the Deschutes River, Cascade Lakes, and world-class recreation, this location is ideal for those looking to embrace the Central Oregon lifestyle.
This property presents an excellent opportunity for buyers looking to add their own vision and improvements. An oversized, detached garage offers many possibilities for a shop or extra storage. RV parking and hookups in place allow for easy hosting of family and friends. While the home is ready for updates and renovation, its generous lot, sought-after location, and endless potential make it a compelling canvas for an investor, contractor, or anyone excited to create something special. Opportunities like this in Oregon Water Wonderland don't come along often. Call today
Listing courtesy of Keller Williams Realty Central Oregon, agent Gregory Powell
Data last updated July 16, 2026
Based on information from Oregon Data Share. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information is for consumers personal, non-commercial use only.
A rough estimate, not a quote. A real number comes from a lender.
Loan amount $276,000 · $69,000 down · 30 year term
Monthly cash flow, cap rate, and cash-on-cash return at this price. Every number is an estimate you can adjust to your own financing and rent.
Estimate $2,336 ($2,100–$2,675) · HUD Fair Market Rent (FY2025), Deschutes County, 3BR. Edit to your own number.
At $345,000 with 20% down, this property runs $372 per month negative. Adjust the price, down payment, or rent to find what works.
Estimates only, not investment advice or a guarantee of rent, value, or return. Figures depend on the numbers you enter and current market conditions. Verify with your lender, tax advisor, and a Ryan Realty broker before you rely on them.
We pull climate risk data from FEMA flood maps, the Deschutes County wildland-urban interface map, and NOAA heat trends. Detailed scoring for this property is on request.
Get the climate reportWe compute vacation rental projections from comparable short-term rentals in the same community, weighted by bed count, view, and amenities. A custom projection for this property is on request.
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