Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1092 SE Bluegrass Ln Madras, OR 97741

    Sponsored
    For Sale
    $74,900

    Residential Lots - Madras, OR

    Lot size:
    0.16 Acres
    Days on Market:
    25
    Last Refresh:
    Jan 31 at 11:06 am

    Property Features for 1092 SE Bluegrass Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R3
    APN
    16946
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Expense value
    489.32998657227
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Holly Cole

    Keller Williams Realty Central Oregon (541) 585-3760

    Listing agent Holly Cole (541) 585-3760 License #200903090

    Listing date Jan 7, 2026

    MLS# 220213447 Listing URL

    Copyright © 2026 MLS of Central Oregon. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Lot with Cascade Views

    Located in the Yarrow Subdivision, this residential lot offers views of the Cascade Range. The property is build-ready with utilities on site. Residents can enjoy access to walking and bike paths, neighborhood parks, sports fields, a disc golf course, skate park, and splash pad. Nearby amenities include the Madras Aquatic Center, a Performing Arts Center, Native American and aviation museums, and local family entertainment. The property is located in Madras, Oregon, in Jefferson County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Spa & Massage Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Skin Care Clinic Department Store HVAC Service Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madras
    County
    Jefferson
    State
    Oregon
    Longitude
    -121.107365
    Latitude
    44.628741

    Nearby Similar for Sale

    • $1,100,000
      2,996 SF

      Pivot-Irrigated Farm with Mountain Views

      35-acre farm with updated home and outbuildings near town.
      547 SW Bear Dr, Madras, OR 97741
      View Details
    • $875,000
      1.19 Acres

      Madras Commercial Property on US-97

      Highway frontage, remodeled offices, showroom, and warehouse with MUE zoning.
      1810 Us-97, Madras, OR 97741
      View Details
    • $599,000
      0.30 Acres

      Well-Maintained Duplex with Sunset Views

      Investment opportunity: duplex with mountain views, updated finishes, fenced yard.
      76 SE Hoff Ln, Madras, OR 97741
      View Details
    • New
      $599,900
      0.19 Acres

      New Madras Duplex with Views

      New construction duplex in Madras, OR with mountain and valley views.
      900 SE Starview Ave, Madras, OR 97741
      View Details
    • $2,400,000
      1.22 Acres

      Central Oregon Commercial Property For Sale

      Turn-key gas station, convenience store, and pub opportunity.
      268 N 5Th St, Madras, OR 97741
      View Details
    • New
      $595,900
      0.17 Acres

      New Duplex in Madras, Oregon

      New construction duplex in Madras, Oregon with mountain and valley views.
      918 SE Starview Ave, Madras, OR 97741
      View Details
    • $1,890,000
      2,477 SF

      Productive Farm with Water Rights

      198-acre farm with water rights, updated home, and mountain views.
      1774 W Ashwood Ln, Madras, OR 97741
      View Details
    • New
      $545,900
      0.17 Acres

      New Duplex in Madras, Oregon

      New construction duplex in Madras, Oregon with mountain and valley views.
      925 SE Starview Ave, Madras, OR 97741
      View Details
    • New
      $549,900
      0.21 Acres

      New Duplex in Madras, Oregon

      New construction duplex in Madras, Oregon with mountain and valley views.
      891 SE Starview Ave, Madras, OR 97741
      View Details
    • $899,000
      0.34 Acres

      Retail Building in Madras, Oregon

      Retail building with excellent exposure on 5th Street and Highway 97.
      178 S 5Th St, Madras, OR 97741
      View Details
    • $349,000
      0.20 Acres

      Detached Duplex with Income Potential

      Unique duplex in Madras, OR, ideal for investment or living.
      397 SE 6Th St, Madras, OR 97741
      View Details
    • $4,900,000
      51,675 SF

      Turnkey Self-Storage Investment Opportunity

      Self-storage facility with 290 units in a growing market.
      1451 SW Olive St, Madras, OR 97741
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready lot in Yarrow Subdivision with Cascade Mountain views.
    Where is this residential land & home lot located?
    The property is located at 1092 SE Bluegrass Ln Madras, OR.
    What is the asking price?
    The asking price for this property is $74,900.
    What are key features of this property?
    This property features: - Unparalleled views of the Cascade Range.; - Build-ready lot with utilities on site.; - Access to miles of walking & bike paths, neighborhood parks, sports fields, disc golf course, skate park, & splash pad.
    (541) 585-3760
    Request Owner's contact information
    1092 SE Bluegrass Ln Madras, OR 97741
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1092 SE Bluegrass Ln
    Madras, OR 97741
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1092 SE Bluegrass Ln Madras, OR 97741
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Holly Cole
    Real Estate License ID: 200903090
    (541) 585-3760
    Learn more
    Google sign-in failed. Please try again or use another login method.