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Pending
    • Price cut: $16K (8/4)
    $309,000

    575 SW Madison St, Madras, OR 97741

    8beds
    3baths
    3,632sqft
    : 
    $2,130/mo
    Get pre-qualified
    Single Family Residence
    Built in 1948
    0.26 Acres Lot
    $296,800 Zestimate®
    $85/sqft
    $-- HOA

    What's special

    Completed exterior
    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.
    54 days
    |
    788
    |
    41
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Windermere Realty Trust 541-923-4663

    Source: Oregon Datashare,MLS#: 220223781MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 8
      • Bathrooms: 3
      Heating
      • Electric
      Cooling
      • None
      Appliances
      • Included: Dryer, Oven, Range, Range Hood, Washer, Water Heater
      Features
      • Breakfast Bar, Fiberglass Stall Shower
      • Flooring: Concrete, Laminate, Vinyl
      • Windows: Aluminum Frames, Double Pane Windows, Vinyl Frames
      • Basement: None
      • Has fireplace: No
      • Common walls with other units/homes: 2+ Common Walls
      Interior area
      • Total structure area: 3,632
      • Total interior livable area: 3,632 sqft
      Video & virtual tour

      Property

      Parking
      • Parking features: Alley Access, Concrete, Driveway, On Street, RV Access/Parking
      • Has uncovered spaces: Yes
      Features
      • Levels: Two
      • Stories: 2
      • Has view: Yes
      • View description: Neighborhood
      Lot
      • Size: 0.26 Acres
      • Features: Level
      Details
      • Parcel number: 9649
      • Zoning description: R2
      • Special conditions: Standard

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Ranch
      • Property subtype: Single Family Residence
      Materials
      • Block, Frame
      • Foundation: Slab, Stemwall
      • Roof: Composition
      Condition
      • New construction: No
      • Year built: 1948

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public

      Community & HOA

      Community
      • Subdivision: Railroad
      HOA
      • Has HOA: No
      Location
      • Region: Madras

      Financial & listing details

      • Price per square foot: $85/sqft
      • Tax assessed value: $275,400
      • Annual tax amount: $2,505
      • Date on market: 6/19/2026
      • Cumulative days on market: 55 days
      • Listing terms: Cash,Conventional
      • Exclusions: Sellers personal property
      • Road surface type: Paved

        Estimated market value

        $296,800

        $282,000 - $312,000

        $2,438/mo

        Price history

        DateEventPrice
        8/11/2026Pending sale$309,000$85/sqft
        Source: Oregon Datashare #220223781 Report a problem
        8/4/2026Price change$309,000-4.9%$85/sqft
        Source: Oregon Datashare #220223781 Report a problem
        6/19/2026Listed for sale$325,000$89/sqft
        Source: Oregon Datashare #220223781 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2024$2,463 +6.8%$118,420 +3%
        2023$2,307 +1.5%$114,980 +3%
        2022$2,273 +4.4%$111,640 +3%
        2021$2,176 +2.1%$108,390 +3%
        2020$2,131 +7%$105,240 +6.1%
        2018$1,991 +8.1%$99,210 +3%
        2017$1,841 +31.2%$96,330 +24.7%
        2016$1,403 $77,220 +32.8%
        2015$1,403 +41.1%$58,160 +7.9%
        2014$995 $53,900 +7.1%
        2013$995 -4.2%$50,340 -2.9%
        2012$1,039 +1.2%$51,820
        2011$1,027 -22.4%$51,820 -22.5%
        2010$1,324 $66,840 -29.9%
        2009-- $95,370
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        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

        Getting around

        64 / 100
        Somewhat Walkable
        90 / 100
        Biker's Paradise

        Nearby schools

        GreatSchools rating
        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.

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