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    48247 Hooker Flat Rd Halfway, OR 97834

    Sponsored
    For Sale
    $2,500,000

    Farm/Estate - Halfway, OR

    Type:Farm
    Property size:
    3,058 SF
    Lot size:
    607.80 Acres
    Days on Market:
    190
    Last Refresh:
    Jan 20 at 5:06 pm

    Property Features for 48247 Hooker Flat Rd

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Living Room
    Bedrooms
    3
    Bathrooms
    2
    Parking features
    Garage
    Appliances
    Dishwasher, Dryer, Refrigerator, Washer
    Size
    3,058 SF
    Lot size
    607.80 Acres

    Utilities

    Heating system
    Electric (Heating), Forced Air, Pellet Stove (Heating), Wood (Heating), Wood Stove

    Building Details

    Year built
    1983
    Year renovated
    1983
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Colby Marshall

    Jett Blackburn Real Estate Inc. (541) 573-7206

    Listing agent Colby Marshall (541) 413-5660

    Listing date Jul 15, 2025

    MLS# 11536513 Listing URL

    Copyright © 2026 My State MLS. 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

    Oregon Ranch with Water Rights

    Hooker Flat Ranch is a 607-acre ranch located near Halfway, Oregon, offering year-round access and proximity to the Snake River and Wallowa Mountains. The ranch includes 285 acres of water-righted land suitable for hay and livestock operations. A gravity-fed irrigation system delivers water from Fish Creek and Long Branch Creek through pipes and ditches, feeding buried mainlines, risers, wheel lines, and flood irrigation zones. The property features separately fenced pastures, quality fencing, and a hay yield of 1.5 to 2 tons per acre. Functional improvements include two homes, multiple outbuildings, hay storage, a Quonset shop, and a covered livestock handling facility with HiQual and Priefert equipment. The main home, built in 1983, offers 3,053 square feet of living space with 3 bedrooms and 2 bathrooms, featuring a sunroom, updated kitchen with stainless steel farm sink and epoxy countertops, a walk-in pantry, and a living area with French doors to a covered patio. A wood-burning furnace heats the home and water system, with an electric backup. The second residence is a 1,008-square-foot manufactured home with 2 bedrooms, 1 bathroom, a living area, and an open kitchen. It includes new paint, vinyl flooring, tongue-and-groove wood accents, and blued pine trim, heated by a cadet wall unit and wood stove. The northern section includes 135 acres of timber, supporting wildlife such as elk, deer, antelope, turkey, eagles, hawks, and songbirds.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Halfway
    County
    Baker
    State
    Oregon
    Longitude
    -117.0135
    Latitude
    44.9433

    FAQs

    What type of property is this?
    Farm - 607-acre ranch near Halfway, Oregon, with water rights.
    Where is this farm located?
    The property is located at 48247 Hooker Flat Rd Halfway, OR.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - 607± acre ranch featuring 285± acres of water-righted land, perfect for hay and livestock, complete with a gravity-fed irrigation system.; - Two well-maintained homes, including a **3,000± sq ft main house with an updated kitchen and mountain views**, plus a 1,008 sq ft second home.; - Functional improvements include multiple outbuildings, hay storage, a Quonset shop, and a covered livestock handling facility.
    (541) 413-5772
    Request Owner's contact information
    48247 Hooker Flat Rd Halfway, OR 97834
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    Halfway, OR 97834
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    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
    48247 Hooker Flat Rd Halfway, OR 97834
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    We can help!
    Listing Contact
    Colby Marshall
    (541) 413-5772
    Learn more
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