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Cap Rate Analysis: Bend, OR

Investment metrics, interactive calculators, and data-driven analysis for Bend rental properties.

Challenging for pure cash flow
Based on $580,000 median price and $1,950/mo median rent
Est. Cap Rate
2.17%
1% Rule
0.34%
Fails
GRM
24.8x
Price / Income
8.5x

Market Data

Median Home Price$580,000
Median Monthly Rent$1,950
Property Tax Rate0.9%
Population105,000
Population Growth2.5% / yr
Median Household Income$68,200
Vacancy Rate4%
Annual Appreciation2.8%

Cap Rate Calculator — Bend

Pre-filled with Bend medians. Adjust to match a specific property.

Property Details
$
$
3–8% typical
%
Monthly Expenses
0.9% rate
$
$
8–10% of rent
$
8–12% of rent
$
Cap Rate
1.85%Low
Net Operating Income ÷ Purchase Price
NOI / Year
$10,716
net operating income
Gross Rent Multiplier
24.8x
High (>15)
1% Rule
0.34%
✗ Fails
Monthly Cash Flow
$893
before debt service
Annual Breakdown
Gross Rental Income$23,400
Less Vacancy−$936
Effective Income$22,464
Less Operating Expenses−$11,748
Net Operating Income$10,716

Cash-on-Cash Return — Bend

Factor in financing to see your actual return on invested capital in Bend.

$
$145,000
%
%
years
$
taxes + ins + maint + mgmt
$
$
Cash-on-Cash Return
-12.60%Weak
Annual Cash Flow ÷ Total Cash Invested
Total Cash Invested
$162,400
$145,000 down + $17,400 closing
Monthly Mortgage
$2,836
on $435K loan
Monthly Cash Flow
$-1,705
after all expenses
Annual Cash Flow
$-20,458
before taxes
Cash Flow Breakdown
Monthly Rent$1,950
Less Expenses−$819
Less Mortgage−$2,836
Monthly Cash Flow$-1,705

Is Bend a Good Place to Invest in Rental Property?

Bend, OR has a population of 105,000 and has been growing at 2.5% annually — well above the national average, signaling strong housing demand from population inflows. The median home price of $580,000 paired with median rents of $1,950/mo produces an estimated cap rate of 2.17%.

Property taxes at 0.9% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 4% is impressively low, indicating tight rental supply and strong tenant demand — favorable for landlords.

At a price-to-income ratio of 8.5x, homes cost about 8.5 times the local median income of $68,200. This elevated ratio means homeownership is stretched, supporting rental demand but limiting buyer pools. Home values have appreciated at roughly 2.8% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.

Bottom line: At current median prices, Bend is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.

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