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    DURGAN-MILLER RANCH Paulina, OR 97751

    View on Map
    For Sale
    $11,750,000

    Farm/Estate, Ranch - Paulina, OR

    Type:Farm
    Property size:
    4,340 SF
    Lot size:
    8,053.10 Acres
    Added:
    Nov 1, 2025
    Days on Market:
    155
    Last Refresh:
    Apr 4 at 7:06 pm

    Property Features for DURGAN-MILLER RANCH

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Kitchen, Living Room
    Parking features
    Garage, Garage - Attached
    Basement Y/N
    1
    Appliances
    Dishwasher, Dryer, Refrigerator, Washer
    Standard status
    Active
    Size
    4,340 SF
    Lot size
    8,053.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    17400

    Utilities

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

    Building Details

    Year built
    1986
    Year renovated
    1986
    Floors in Building
    1
    Flooring type
    Tile
    Building materials
    Wood Siding
    Roof type
    Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Dally Zander

    Listing agent Dally Zander

    Listing office Ken Thomas Real Estate 64347 Harney Ave., Crane, OR

    Listing date Nov 1, 2025

    MLS# 11599867 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.

    Overview

    Secluded Ranch with Extensive Acreage

    This secluded 8,053.1-acre ranch offers a unique opportunity with its contiguous block of land, substantial water rights, and diverse natural features including meadows and timber. Bordering the Forest Service to the north, the property provides spectacular views and a sense of quiet seclusion. The ranch includes three homes suitable for an owner, ranch manager, and hired help. Multiple potential cabin sites and camping areas are present throughout the property. The ranch is currently utilized for cattle operations and hay harvesting, with the option to lease grazing. Government permits offer rainfall insurance based on total acreage, and the county provides a Drought Relief program in dry years. The ranch is easily accessible year-round via paved roads, making it a turn-key operation for cattle. Interior fencing is in place for managing cattle. The irrigated land consists of native meadow, attracting wildlife and supporting ranching activities. The primary surface water source is Wolf Creek. Located approximately 8 miles northeast of Paulina, Oregon, the ranch is about one hour southeast of Prineville and two hours from Bend. The property was formed by combining two neighboring ranches in 2020, allowing seamless operation with Forest Service allotments. This is the first time in several decades that the ranch has been offered as a single sale.
    Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Paulina
    County
    Crook
    State
    Oregon
    Longitude
    -119.85
    Latitude
    44.1993

    FAQs

    What type of property is this?
    Farm - 8,053-acre ranch with water rights, meadows, timber, and multiple homes.
    Where is this farm located?
    The property is located at DURGAN-MILLER RANCH Paulina, OR.
    What is the asking price?
    The asking price for this property is $11,750,000.
    What are key features of this property?
    This property features: 8,053+ deeded acres in one block, offering unparalleled privacy.; Abundant water rights including Wolf Creek, plus government permits.; Turn‑key cattle ranch with grazing leases and hay harvesting for immediate income.
    (541) 589-2195
    We can help!
    Listing Contact
    Dally Zander
    Learn More
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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
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