Active

$500,000

316 SW 1st St, Madras, OR 97741

6beds

3,160sqft

$3,580/mo

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Quadruplex, Multi Family

Built in 1979

-- sqft lot

$-- Zestimate^®

$158/sqft

$-- HOA

What's special

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.

28 days
151
13

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 4
Full bathrooms: 2

Heating

Ductless, Other

Cooling

Ductless, Other

Appliances

Included: Oven, Range, Refrigerator

Features

Flooring: Carpet, Laminate, Tile
Windows: Aluminum Frames
Basement: None
Has fireplace: No
Common walls with other units/homes: 1 Common Wall,2+ Common Walls,End Unit

Interior area

Total structure area: 3,160
Total interior livable area: 3,160 sqft

Property

Parking

Parking features: On Street, Other
Has uncovered spaces: Yes

Features

Levels: One,Two
Stories: 2
Has view: Yes
View description: Neighborhood

Lot

Size: 0.34 Acres

Details

Parcel number: 9493
Zoning description: C1
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Architectural style: Traditional
Property subtype: Quadruplex, Multi Family

Materials

Block, Brick, Frame
Foundation: Slab
Roof: Metal

Condition

New construction: No
Year built: 1979

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Security: Carbon Monoxide Detector(s), Smoke Detector(s)
Subdivision: Railroad

HOA

Has HOA: No

Location

Region: Madras

Financial & listing details

Price per square foot: $158/sqft
Tax assessed value: $325,520
Annual tax amount: $2,078
Date on market: 10/6/2026
Cumulative days on market: 29 days
Listing terms: Cash,Conventional
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
10/6/2026	Listed for sale	$500,000+145.1%$158/sqft
Source: Oregon Datashare #220229648 Report a problem
9/22/2017	Sold	$204,000$65/sqft
Source: Oregon Datashare #201708376 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,078 +1.7%	$101,160 +3%
2024	$2,043 +6.8%	$98,220 +3%
2023	$1,913 +1.5%	$95,360 +3%
2022	$1,885 +4.4%	$92,590 +3%
2021	$1,805 +2.1%	$89,900 +3%
2020	$1,767 +7%	$87,290 +6.1%
2018	$1,651 +3.8%	$82,290 +3%
2017	$1,591 +3.4%	$79,900 +3%
2016	$1,538	$77,580 +3%
2015	$1,538 +4.6%	$75,330 +3%
2014	$1,471	$73,140 +3%
2013	$1,471 -0.8%	$71,010 +3%
2012	$1,483 +4.1%	$68,950 +3%
2011	$1,424 +3.2%	$66,950 +3%
2010	$1,380	$65,000
2009	--	$65,000

Find assessor info on the county website

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

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Climate risks

Neighborhood: 97741

Nearby schools

GreatSchools rating

2/10
Madras Elementary School
Grades: K-5Distance: 0.5 mi
5/10
Jefferson County Middle School
Grades: 6-8Distance: 1.4 mi
5/10
Madras High School
Grades: 9-12Distance: 0.6 mi

Schools provided by the listing agent

Elementary: Buff Elementary
Middle: Jefferson County Middle
High: Madras High

Source: Oregon Datashare. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.