Listing courtesy of Crater Lake Realty,Inc., agent Leah Ghielmetti
Data last updated June 13, 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.
Opportunity awaits on two lots totaling .57 acre with serene views of Agency Lake. This UNFINISHED, 2-bedroom, 2-bath MF home is well underway and ready for completion, offering tremendous upside for the right buyer. The groundwork has been started, the yard has been cleaned, septic is in, water is hooked up and power is on. The setting provides the perfect backdrop to create a comfortable full-time residence, weekend getaway, or investment property/resell. With added space from the second lot, there's flexibility for expansion, additional parking, or enhanced outdoor living. Being offered as-is with motivated sellers, this is a rare chance to step into a project with solid potential.
A rough estimate, not a quote. A real number comes from a lender.
Loan amount $137,000 · $34,000 down · 30 year term
See the 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 $850 ($725–$975) · starting estimate. Edit to your own number.
At $171,000 with 25% down, this property runs $376 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.
Get the rental projectionBrowse current listings with a full video tour. See the flow, the light, and the lot before you book a showing.
