61112 Ferguson Rd

This property stands out for its combination of a fully transferable STR license, a flexible 5-bedroom layout, and a large lot with city-verified potential for up to five additional dwellings. The attached suite is already generating meaningful STR income, providing a proven revenue baseline. The high-confidence underwriting suggests robust cash flow and a strong cash-on-cash return, making it attractive for investors seeking both immediate income and long-term upside through development or expanded STR operations. The primary caveat is that only the suite is currently operated as an STR, so full-home rental performance should be confirmed during diligence.

Bend, OR is a sought-after market for both tourism and relocation, with strong demand for high-quality STRs and limited in-town acreage. The property type—a modern, large single-level home with STR licensing—positions it well for both short-term rental and future development strategies. High-confidence underwriting metrics support the income potential, though market competition and regulatory environment should be monitored.

The property’s in-town acreage and modern construction are likely to appeal to STR guests seeking privacy and space within city limits. The flexible layout and multiple en-suite bedrooms enhance guest appeal for larger groups or multi-generational stays. While detailed neighborhood demand signals are limited, the location within Bend suggests solid guest interest, though conclusions are moderate-confidence pending further location-specific analysis.

At a $1,449,000 purchase price, underwriting projects a monthly expected income of $15,913 and cash flow of $5,137, with a 17% cash-on-cash return based on a 25% down payment, 6.4% interest, and 25% expense ratio. These high-confidence figures are driven by an estimated $902 ADR and 58% occupancy, but actual performance will depend on scaling STR operations beyond the current suite. The property’s income and return profile are attractive, but sensitivity to occupancy and nightly rate assumptions should be considered, especially if expanding STR use to the full home.