Real Estate Investing in Madras, Oregon (97741)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97741 (Madras, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Madras, OR (97741)?
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Market Analysis: 97741 Madras
ZIP 97741 in Madras, OR carries a healthy set of headwinds. Home values near $373K and rents of $1,593/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 97741 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Statewide comparisons place 97741 among OR's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 97741 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Madras:
Property Strategy for 97741
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $278,220 | $1,440 | 3.7% | +7.4% | $139,110 |
| 3BR | $358,498 | $2,020 | 4.1% | +7.4% | $119,499 |
| 4BR | $434,615 | $2,420 | 4.0% | +7.0% | $108,654 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97741 Compare?
| Metric | 97741 | Madras | The Dalles, OR | Oregon |
|---|---|---|---|---|
| Home Value | $372,791 | $372,791 | N/A | $493,884 |
| 5-Year CAGR | 3.2% | 3.2% | N/A | 4.9% |
| Avg Rent | $1,593 | $1,593 | N/A | - |
| Cap Rate | 3.3% | 3.3% | - | - |
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 97741 (Madras, OR). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $372,791 |
| Monthly Rent | $1,593 |
| Price-to-Rent | 19.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +9.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 97741
Population: 13,750
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 97741
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.
Frequently Asked Questions
What is the average home sale price in Madras, OR?
Expect median prices around $373K in Madras, OR. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
Is it easy to find good tenants in Madras, OR?
The renter base in Madras, OR is reasonable for the $1,593/mo price point. Screening well and pricing to market typically yields reliable tenants.
Is Madras, OR a smart market for rental property?
With a 3.0/5 investability score, Madras, OR ranks as a solid market for rental property investors. Median prices of $373K and rents of $1,593/mo drive the underlying numbers.
Does house hacking work in Madras, OR?
House hacking in Madras, OR is reasonable to execute. Prices around $373K and rents of $1,593/mo solid owner-occupant economics.
Is Madras, OR a friendly market for rental owners?
Madras, OR falls under OR landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 97741 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97741 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 97741 ranks in The Dalles, OR
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