Real Estate Investing in Bend, Oregon (97702)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97702 (Bend, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
No major risk flags on the data we track.
What’s happening in Bend, OR (97702)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97702 Bend
The 97702 ZIP covers a section of Bend that demands careful diligence. Prices near $684K look accessible, but the work to make a deal cash flow is real.
The investment case in 97702 is solid only for operators who understand what they are buying. A $684K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within OR, ZIP 97702 trails on several market indicators that neighboring Deschutes County submarkets outperform. The gap is real and impressive enough to shape underwriting.
Demographically, 97702 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 97702 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Bend:
Property Strategy for 97702
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $277,926 | $1,470 | 3.8% | +4.7% | $277,926 |
| 2BR | $561,154 | $1,910 | 2.5% | +7.3% | $280,577 |
| 3BR | $653,358 | $2,660 | 2.9% | +7.4% | $217,786 |
| 4BR | $793,137 | $3,200 | 2.9% | +7.7% | $198,284 |
| 5BR | $1,005,939 | — | — | +8.3% | $201,188 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97702 Compare?
| Metric | 97702 | Bend | Bend, OR | Oregon |
|---|---|---|---|---|
| Home Value | $684,016 | $608,650 | N/A | $493,884 |
| 5-Year CAGR | 1.8% | 1.5% | N/A | 4.9% |
| Avg Rent | $2,335 | $2,250 | N/A | - |
| Cap Rate | 2.7% | 2.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97702 (Bend, OR). Anonymous, moderated, never written by AI.
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Property managers serving Deschutes County
Manage rentals here? List your business →Elevation Property Management. summary from their website
Housing Works fosters dignity through housing and provides resources for finding rental and emergency housing, including new rental communities. summary from their website
High Desert Property Management. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $684,016 |
| Monthly Rent | $2,335 |
| Price-to-Rent | 24.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 4.5% |
📈 Home Appreciation
| 1-Year | +0.2% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | +1.8% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +1.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97702
Population: 53,114
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97702
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,206 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Bend, OR?
Bend, OR median home values land near $684K. That is reasonable territory for investors looking at $2,335/mo-per-month rentals.
What investment strategy works best in Bend, OR?
Bend, OR investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($684K prices, $2,335/mo rents) make it a reasonable choice.
How deep is the rental pool in Bend, OR?
The renter base in Bend, OR is reasonable for the $2,335/mo price point. Screening well and pricing to market typically yields steady tenants.
Does house hacking work in Bend, OR?
Bend, OR is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $684K price point reasonable to enter.
How strict are landlord regulations in Bend, OR?
The landlord environment in Bend, OR is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 97702 now. You don’t know where it ranks.
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How 97702 ranks in Bend, OR
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