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Special Purchase Incentives Available! Welcome to Lakeside at Caldera Springs, a lakefront retreat designed for vacation living in Central Oregon's premier destination resort. Featuring two rentable units along the waters edge of Lava Springs Lake, the main home includes an effortless floorplan with two main-level ensuites, an upstairs bonus and bunk room, and inviting indoor & outdoor living spaces thoughtfully designed to highlight nature's surroundings. Complete with an included hot tub, firepit and covered lakeview patio, the home is designed to enjoy year-round relaxation. The attached studio residence features a full bath, fully equipped kitchenette, and a covered patio with direct lake views. Purchase incentives include credit for HOA dues with acceptable Offer and property management incentive through Sunriver Resort Vacation Properties! Designated as an overnight vacation rental, this home offers an exceptional opportunity for personal enjoyment and rental income potential.
A rough estimate, not a quote. Loan amount $1,400,000 · $350,000 down · 30 year term.
Insurance starts at $1,000 per $300K of price each year. Type your quote to replace it.
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Education
Neighborhood
Caldera Springs sits fifteen miles south of Bend, next to Sunriver Resort, at roughly 4,170 feet of elevation in the high desert along the upper Deschutes River. The community's own design guidelines place the site in a semi-arid Montane Life Zone, a transition band between the Great Basin Desert and the Cascade Range, covered in ponderosa and lodgepole pine with an understory of sagebrush, bitterbrush, and manzanita. Average annual precipitation runs 18 inches and average snowfall 49 inches, though the range swings hard from year to year. One winter brought 13 inches of snow, the next brought 144, according to those same guidelines. Every builder in the community designs around that swing. Snow-load framing, solar gain through winter windows, and wildfire resistance all run through the same approval process. Caldera Springs holds Firewise Community status, and the guidelines require wildfire-resistant roofing, building materials, and defensible landscaping before anyone breaks ground.
PacTrust opened the community in 2006 on 400 acres, with an original plan for 320 single-family homesites and 45 cabins. A 600-acre eastward expansion, launched in 2021, brought the master plan to its current 1,000 acres. Roughly a fifth of that total, 220 acres, was set aside rather than built on, carried in the plat as a protected wildlife mitigation area and marketed today as the Wildlife Forest Preserve. The lake and stream system at the center of the community, 14.7 acres of water including Obsidian Lake and Trailmere Lake, predates the expansion and still anchors it. So does Caldera Links, a nine-hole, par-27 course designed by golf architect Bob Cupp, with holes running a tight 60 to 185 yards and built for an afternoon rather than a full day on the course.
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| Date | Event | Price |
|---|---|---|
| Jul 10, 2026 | Listed | $1,750,000 |
$700 per sq ft
50 days on market. Caldera Springs median to pending is 69 days.
HOA $360 per month. Tax $2,037 per year.
The full analysis names every comparable sale and shows the adjustment we made for each one.
Listing fields from Spark. Place median from the live pulse. This is an estimate, not an appraisal. It is not a guarantee of price. See our terms.
This home sits in Caldera Springs Olu, Phase C-2. 6 recorded documents govern it.
Documents marked as published by Caldera Springs Owners' Association are the association's own copies, not stamped by the county recorder. Later amendments may exist that are not shown here. Confirm the governing chain through title before relying on it. See Caldera Springs Olu, Phase C-2.
New listings
Monthly cash flow, cap rate, and cash-on-cash return at this price. Adjust the numbers to your own financing and rent.
Estimate $2,799 ($2,525–$3,225) · HUD Fair Market Rent (FY2025), Deschutes County, 4BR. Edit to your own number.
At $1,750,000 with 20% down, this property runs $7,805 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.
Listing courtesy of Sunriver Realty, agent Lindsay Kuzara, 541-593-7000
Data last updated August 31, 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.
Charted at Bend (city) scope
Aug 2024 to Jul 2026 (24 months) · Market Truth leftover, Bend city, monthly median close. Completed months only.
This home is listed at $1,750,000, 16.6% below the Caldera Springs median list price. See full Caldera Springs market →