Active

$998,500

4340 State Highway 38, Drain, OR 97435

3beds

2,300sqft

$6,293/mo

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Residential, Single Family Residence

Built in 1948

26 Acres Lot

$-- Zestimate^®

$434/sqft

$-- HOA

What's special

Panoramic viewsLeveled hay fieldRecreational spaceMature cedar treesGated half-mile private drive

Owner Will Carry: Golden opportunity here for all buyers. Our Seller has offered to carry the note on this beautiful property. Terms would be $300,000 down payment, Amortized over 30 years, with a balloon payment at the end of 5 years with an interest rate of 5% - 26+/- acre estate with a 2300 sq ft, 3-bedroom, 2-bathroom home offering panoramic views and abundant wildlife including elk, deer, and bear. Features 0.50 miles of Elk Creek frontage with excellent trout and steelhead fishing, a leveled hay field, and robust infrastructure. Includes a gated, half-mile private drive, well, septic system, a 60x20 ft two-story equipment barn, a 40x60 ft two-story horse barn with eight stalls and a tack room, a recreational space, and a guest room with private bath. Landscape boasts mature cedar trees. Conveniently located near Highway 38, 40 minutes from coastal towns, and in the North Douglas High School District.

397 days

63

3

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2
Full bathrooms: 2

Rooms

Room types: Bedroom 2, Bedroom 3, Dining Room, Family Room, Kitchen, Living Room, Primary Bedroom

Primary bedroom

Level: Lower

Heating

Other

Features

Number of fireplaces: 2
Fireplace features: Wood Burning

Interior area

Total structure area: 2,300
Total interior livable area: 2,300 sqft

Property

Parking

Total spaces: 2
Parking features: Covered, Other, Detached
Garage spaces: 2

Features

Levels: One
Stories: 1
Has view: Yes
View description: Creek/Stream, Territorial
Has water view: Yes
Water view: Creek/Stream
Waterfront features: Creek
Body of water: Elk Creek

Lot

Size: 26 Acres
Features: Acres 5 to 7

Details

Parcel number: R36855
Zoning: EFU

Construction

Type & style

Home type: SingleFamily
Architectural style: Ranch
Property subtype: Residential, Single Family Residence

Materials

Other
Roof: Composition

Condition

Resale
New construction: No
Year built: 1948

Utilities & green energy

Sewer: Septic Tank
Water: Well

Community & HOA

HOA

Has HOA: No

Location

Region: Drain

Financial & listing details

Price per square foot: $434/sqft
Tax assessed value: $442,224
Annual tax amount: $2,617
Date on market: 7/24/2025
Listing terms: Cash,Conventional
Road surface type: Paved

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
8/6/2026	Price change	$998,500-16.7%$434/sqft
Source: RMLS (OR) #534897888 Report a problem
12/30/2025	Price change	$1,198,000-14.3%$521/sqft
Source: RMLS (OR) #534897888 Report a problem
9/16/2025	Price change	$1,398,000-3.3%$608/sqft
Source: RMLS (OR) #534897888 Report a problem
7/24/2025	Listed for sale	$1,446,000$629/sqft
Source: RMLS (OR) #534897888 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,699 +3.1%	$260,138 +2.8%
2024	$2,617 -17.9%	$252,998 -17.7%
2023	$3,187 +3%	$307,321 +3%
2022	$3,095 +2.8%	$298,426 +3%
2021	$3,010 +4.2%	$289,759 +3%
2020	$2,888 +2.4%	$281,320 +3%
2019	$2,822 +1.9%	$273,130 +2.5%
2018	$2,768	$266,552