Have you been thinking of buying an investment property in Bend, Oregon to grow your real estate investment portfolio? You’re not alone. Bend is definitely not a tiny rural village and it isn’t your typical suburban enclave either. This has made the Bend Oregon real estate market a desirable location for property investors over the years.
Related: Top 10 Real Estate Markets for Buying Rental Property in 2018
Keep reading as we further explain why this is the right time to start investing in Bend, Oregon and provide you with the housing market statistics you need to know before buying an investment property (as computed by Mashvisor’s rental property calculator).
Bend Oregon Real Estate Market 2018 Trends
Supply and Demand
Located on the Deschutes River in Oregon, Bend is definitely growing. Things have been improving in the Bend Oregon real estate market and it has seen an incredible recovery since the recession. This city is a popular option for people who want to move to live in a beautiful setting with a thriving economy, friendly atmosphere, and fun outdoor activities always going on.
Even though the job market in Bend isn’t the best in the state, Bend’s population continues to grow because people want to live there! Bend added 15,000 new residents in the last five years and the city is now getting closer and closer to hitting the 100,000 mark. Moreover, according to City-Data.com, 37% of the people who live in Bend rent the house they’re living in. For a real estate investor, this means finding tenants in the Bend Oregon real estate market is not something to worry about.
Home Prices
While demand is increasing in the Bend Oregon real estate market, the supply of homes for sale is lacking. As a result, home prices have increased, making Bend a seller’s market this year. This offers flexibility for homeowners thinking of moving out of the city and selling their homes (or perhaps renting it out to build an extra rental income). However, property investors thinking of buying an investment property still have opportunities to find affordable pieces as Bend still offers lower prices than nearby markets.
Click here to start looking for and analyzing investment properties in Bend, Oregon to find the most affordable ones!
Moreover, looking at historically low mortgage interest rates and Bend’s new urban development plans to accommodate new residents, buying in Bend Oregon real estate market now will benefit property investors thinking of investing in real estate for the long-term as they’ll get to enjoy a good rental income and high appreciation rates. So, things are looking up for buyers as well.
Traditional or Airbnb?
As a real estate investor, you have the option to rent out your investment property as either a traditional (long-term) rental, or an Airbnb (short-term) rental. The main factor to determine the optimal rental strategy is the location of your rental property. Even though we said that investing for the long-term has some benefits for Bend property investors, the optimal rental strategy in the Bend Oregon real estate market is actually Airbnb.
Related: Four Things to Consider Before Purchasing an Airbnb Investment Property
Bend is a tourists’ destination. With its natural sights, Airbnb Bend, Oregon attracts many tourists with its ski areas and winter sports facilities. There are also many parks in the city that are perfect for outdoor enthusiasts. People from around the world visit Bend to get outside and be inspired by the city’s lifestyle. As you’ll see below, investing in an Airbnb rental property in Bend will generate higher rental income and yield a better return on investment!
Bend Oregon Real Estate Market 2018 Statistics
- Median Property Price: $606,541
- Traditional Rental Income: $1,810
- Airbnb Rental Income: $3,019
- Traditional Cash on Cash Return: 0.82%
- Airbnb Cash on Cash Return: 2.64%
- Traditional Cap Rate: 0.82%
- Airbnb Cap Rate: 2.64%
These numbers are computed using Mashvisor’s rental property calculator. This real estate investing tool allows property investors to analyze almost any city and neighborhood across the US housing market and find the most profitable investment opportunities in terms of cash on cash return, cap rate, rental income, and Airbnb occupancy rate. Want to know how this tool works? Read this: How to Use Mashvisor’s Rental Property Calculator
Best Places to Invest in Bend Oregon Real Estate Market 2018
If you choose to invest in Bend Oregon real estate market this year, then the first thing you should ask yourself is “where exactly should I buy an investment property?” As a real estate investor, you want to find a rental property in a location that offers a good rental income, high occupancy rate, and promises a good return on investment. Below is a list of neighborhoods in the Bend Oregon real estate market that offer just that when investing in an Airbnb rental property (seeing as this is the optimal rental strategy).
Click here to analyze and find the best Airbnb investment properties in your neighborhood of choice!
Southern Crossing
- Median Property Price: $439,596
- Airbnb Rental Income: $3,919
- Cash on Cash Return: 5.58%
- Cap Rate: 5.58%
- Airbnb Occupancy Rate: 61.64%
River West
- Median Property Price: $669,250
- Airbnb Rental Income: $4,631
- Cash on Cash Return: 3.73%
- Cap Rate: 3.73%
- Airbnb Occupancy Rate: 71.68%
Orchard District
- Median Property Price: $518,792
- Airbnb Rental Income: $2,347
- Cash on Cash Return: 2.96%
- Cap Rate: 2.96%
- Airbnb Occupancy Rate: 65.25%
Mountain View
- Median Property Price: $532,989
- Airbnb Rental Income: $2,620
- Cash on Cash Return: 2.78%
- Cap Rate: 2.78%
- Airbnb Occupancy Rate: 43.64%
Southwest Bend
- Median Property Price: $515,951
- Airbnb Rental Income: $2,916
- Cash on Cash Return: 2.45%
- Cap Rate: 2.45%
- Airbnb Occupancy Rate: 47%
Old Farm District
- Median Property Price: $587,252
- Airbnb Rental Income: $2,957
- Cash on Cash Return: 2.4%
- Cap Rate: 2.4%
- Airbnb Occupancy Rate: 51.57%
Three Rivers
- Median Property Price: $501,892
- Airbnb Rental Income: $2,402
- Cash on Cash Return: 2.12%
- Cap Rate: 2.12%
- Airbnb Occupancy Rate: 46.73%
Do you have a free Mashvisor account? You can use our Property Finder Tool and find investment properties in a matter of minutes! Click here to start.
Final Thoughts
If you’re a real estate investor looking for a location for your next investment property, the Bend Oregon real estate market would make a good candidate. Sign up with Mashvisor to make the best investment decisions with the help of our:
- Rental property calculator to analyze different investment properties to find the best ones yielding a good return on investment.
- Property finder tool to get a list of investment properties that have the highest projected returns depending on your budget, turning your property search into 15 minutes!
If you have questions about Mashvisor, you can read our FAQs and learn about our tools here.
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