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    Tbd Sodhouse Ln Princeton, OR 97721

    Sponsored
    For Sale
    $1,700,000

    Vacant Land - Princeton, OR

    Lot size:
    760.00 Acres
    Days on Market:
    11
    Last Refresh:
    Jan 22 at 10:06 pm

    Property Features for Tbd Sodhouse Ln

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Parking features
    Garage
    Lot size
    760.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Curt Blackburn

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

    Listing agent Curt Blackburn (541) 413-5660

    Listing date Jan 12, 2026

    MLS# 11281624 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

    Overview

    Eastern Oregon Farm with Water Rights

    Located south of Burns, Oregon, this Eastern Oregon farm resides in a valley with views of the Steens Mountains. The property encompasses 760 deeded acres, including 340 acres of water rights. Irrigation is facilitated by five wells, two of which produce hot water, supplying three pivots (two Reinke, one Zimmatic), one with a LESA system. The pivots are interconnected with mainlines and planted with a mixture of oats, peas, turnups, clover, and annual grasses. The land borders thousands of acres of public BLM ground and the Malheur Wildlife Refuge. Improvements include a bunkhouse, steel working corrals with alleys from grazing pastures, and a cinder pit for road and pivot track maintenance. The property includes approximately 418 acres of dryland pasture and 2 acres of improvements. The legal description is T27S R31E W.M. Tax Lots 503, 1200, 1300. The location is approximately 28 miles south of Burns, Oregon, off of 205 on Sod House Lane.
    Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Princeton
    County
    Harney
    State
    Oregon
    Longitude
    -118.9312
    Latitude
    43.2537

    Nearby Similar for Sale

    • $975,000
      2,008 SF

      Princeton, Oregon Farm and Estate

      280-acre farm with modern home and agricultural infrastructure.
      60646 Anderson Valley Rd, Princeton, OR 97721
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    • $750,000
      15.96 Acres

      RV Park, Bar & Grill

      Destination RV park with bar & grill near wildlife refuge.
      33468 Sodhouse Ln, Princeton, OR 97721
      View Details

    FAQs

    What type of property is this?
    Farm - 760-acre Eastern Oregon farm with 340 acres of water rights.
    Where is this farm located?
    The property is located at Tbd Sodhouse Ln Princeton, OR.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - 760 deeded acres in a picturesque valley with views of the Steens Mountains.; - 340 acres of water rights under 3 pivots, supplied by 5 wells, for reliable irrigation.; - Borders thousands of acres of public BLM land and the Malhuer Wildlife Refuge, offering recreational opportunities.
    (541) 413-5777
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    Tbd Sodhouse Ln Princeton, OR 97721
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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
    Tbd Sodhouse Ln Princeton, OR 97721
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    We can help!
    Listing Contact
    Curt Blackburn
    (541) 413-5777
    Learn more
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