Listed by: Dustin Hewitt · Windermere Realty Trust
- 8 beds
- 3 baths
- 3,632 sqft
575 SW Madison Street, Madras, OR 97741
- Single Family ResidenceHome type
- Built in 1948Year built
- 0.26 acresLot
- $83/sqftPrice per sqft
- NoneHOA
About this home
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.
Facts & features
Interior
- Bedrooms
- 8
- Bathrooms
- 3
- Full bathrooms
- 3
- Living area
- 3,632 sqft
- Levels
- Two
Features
- Breakfast Bar
- Fiberglass Stall Shower
Appliances
- Dryer
- Oven
- Range
- Range Hood
- Washer
- Water Heater
Heating & cooling
- Electric
- None
Flooring
- Concrete
- Laminate
- Vinyl
Property
- Lot size
- 0.26 acres
- Subdivision
- Railroad
View
- Neighborhood
Parking
- Alley Access
- Concrete
- Driveway
- On Street
- RV Access/Parking
Construction
- Home type
- Single Family Residence
- Property type
- Residential
- Year built
- 1948
Materials
- Block
- Frame
- Composition roof
Utilities
Sewer & water
- Public Sewer
- Public water
Community & HOA
- Subdivision
- Railroad
- HOA dues
- None
- County
- Jefferson
Financial & listing details
- List price
- $300,000
- Original list price
- $325,000
- Price per sqft
- $83
- Annual property tax
- $2,506
- Date on market
- Aug 20, 2026
- Days on market
- 43
- MLS#
- 220223781
Price & status history
| Date | Event | Price |
|---|---|---|
| Aug 20, 2026 | Listed for sale | $325,000 |
Neighborhood
- SubdivisionRailroad
- CityMadras, OR 97741
- CountyJefferson
Payment calculator
Estimated monthly payment
$1,789/mo
- Principal & interest$1,517
- Property taxes$209
- Homeowners insurance$63
- HOA dues$0
Loan amount $240,000 · 30-year fixed at 6.5%
An estimate for planning, not a loan offer. The 6.5% rate is an example; ask a lender for today’s rate. Taxes use the listing’s annual tax amount. Insurance is estimated; mortgage insurance is not included.
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Listing provided by Windermere Realty Trust · Listing agent: Dustin Hewitt
- Source
- MLS of Central Oregon
- MLS#
- 220223781
- Last updated
- Oct 2, 2026 at 3:35 PM
Listing information is deemed reliable but not guaranteed and should be independently verified. Listings shown are for demonstration while our MLS of Central Oregon IDX feed is being set up.