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Listing provided courtesy of Windermere Realty TrustMLS# 220223781MLS Provider
  • 10 days on site
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R-2 Multifamily zoning offers a unique investment and value-add opportunity in the heart of Madras. This property features one completed and livable unit, while the additional units are ready for the next owner to finish and customize. The unfinished units includes a completed exterior along with rough framing, rough electrical, and rough HVAC already in place, providing a significant head start toward completion. The county has this listed as an 8 bedroom, 3 bath. Currently 1 unit is complete featuring 2 bedrooms and 1 bath. 8 bed potential once project is completed. With much of the groundwork already completed, this is a rare opportunity to finish this multifamily unit to your specifications and capitalize on the growing demand for housing in Central Oregon. Buyer to perform all due diligence regarding permits, approvals, zoning, and requirements for completion of the unfinished portion.

Source: Oregon Datashare, MLS#: 220223781

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  • Property Type
    Residential
  • Lot
    0.26 acres

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  • Median Age
    40
  • Population Density
    36
  • College Educated
    32%
  • Estimated Median Income
    $52,400
  • Estimated Total Home Owners
    2,586
  • Estimated Total Renters
    1,844
  • Owner / Renter Divide
    58% / 42%
  • Estimated Average Household Size
    3
  • Total Population
    12,791
  • Community data courtesy of LiveBy, Inc.

Owning this Home

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$ %
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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 575 SW Madison Street

Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/19/2026Source: Oregon Datashare Added to Database
June 19, 2026