Pacific Northwest6.7% avg cap rate

Bend, OR

Oregon outdoor capital — ski, river, and craft beer market

Bend has emerged as one of the fastest-growing STR markets in the Pacific Northwest, combining Mt. Bachelor skiing, the Deschutes River, world-class mountain biking, and a nationally recognized craft beer scene. Year-round outdoor recreation creates multi-season demand. Deschutes County requires STR permits and limits licenses in certain residential zones.

6.7%
Avg Cap Rate
Net operating income / price
65%
Avg Occupancy
Annual average
$355
Avg Nightly Rate
All property types
$680K
Median Price
STR-viable properties

Estimated Annual Performance

Gross rental revenue
65% occ × $355/night
$84,224
Est. operating expenses
Mgmt, cleaning, supplies, insurance (~40%)
– $33,690
Est. net operating income
Before mortgage & depreciation
$50,534
At median price
Implied cap rate
7.4%

* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.

Why Investors Choose Bend

Mt. Bachelor ski resort — top-10 western ski destination
Outdoor recreation is year-round — no hard off-season
80+ craft breweries drive extended weekend stays
STR permit required — residential zones have license caps
Peak season: Dec – Mar (ski), June – Sept (outdoor)
Top property types: Single Family, Cabin, Townhouse, Condo
Primary zip: 97701, 97702, 97703

Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.

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