A Northwest Bend Property Built for Multiple Income Streams
Most properties pitched as "income-producing" have one rental option bolted on as an afterthought. This five-bedroom, five-bathroom home in Skyliners Summit, just off Skyliners Road in Northwest Bend, is genuinely designed around flexibility. It spans over 5,000 square feet across three distinct levels, each livable enough to function independently. For investors thinking about house hacking, rent-by-the-room strategies, or short-term rentals, the layout does a lot of the work for you.
What You're Actually Getting for the Price
The listing sits under a million dollars for over 5,000 square feet in one of Bend's more desirable northwest neighborhoods. That price-per-square-foot math is the core investment argument here. You're less than half a mile from the river, with trail access to the area and a straight shot down to Mirror Pond. The neighborhood carries some road noise from Skyline Drive, which likely explains the days on market—but for a buyer focused on returns rather than quiet evenings on the deck, that's a negotiating point, not a dealbreaker.
The Main Level: Updated and Move-In Ready
The entry level leads into a large great room and kitchen area with:
- Updated quartz countertops, newer appliances, painted cabinetry, and a tile hex backsplash
- A gas fireplace and deck access with views
- A primary suite with updated vinyl plank flooring, floor-to-ceiling tiled shower, dual-flush toilet, and a built-out walk-in closet
- A flex room near the entry that works as a bedroom, office, or bonus space
- A full bath off the main hallway with a vessel sink and stone tile
- A two-car garage with new epoxy floors and attic storage access
- A roof replaced within the past five years
The main level functions well as a standalone residence, which matters if your strategy is to live on one floor and rent the rest.
The Middle Level: Rent-by-the-Room Potential
Head downstairs and the home opens into what feels like a second house. Two large bedrooms—each roughly the size of the main-level primary—sit on this level, and each has its own bathroom. Both bathrooms have been updated with tile showers, replacing the original fiberglass surrounds. There's also deck access and a living area that could accommodate a kitchen buildout.
The private, separated feel of this level makes it a natural fit for a rent-by-the-room setup. Two tenants, two bathrooms, shared common space, separate from the main living area above.
The Lower Level: Permitted Mother-in-Law Unit, Currently a Licensed STR
The bottom level is where the income story gets specific. It's a fully permitted mother-in-law unit with its own entrance, a bedroom with a mini-split for heating and cooling, a full bathroom, a kitchen with tile counters, and an in-unit washer and dryer. The current owner left a note visible during the tour: this level comes furnished and is actively rented as a Type 1 short-term rental through the City of Bend.
"They rent it as a Type 1 short-term rental through the city of Bend. And that's something that anyone can do if they're calling this an unoccupied home."
A Type 1 STR license in Bend is tied to the property when the owner does not occupy it. That's a meaningful detail for investors: the license transfers with the right structure, and the unit is already set up and operating. Updated HVAC, extra storage, and a large enclosed backyard round out this level.
How an Investor Might Structure This Property
There are several ways to approach this depending on your goals:
- House hack: Live on the main level, rent the middle level by the room, and continue operating the lower unit as a short-term rental
- Full rental: Occupy none of it and run all three levels as separate income streams
- Multi-generational: Keep extended family on separate levels with genuine privacy and independent amenities
The permitted ADU and existing STR license remove two of the biggest friction points investors typically face when trying to add income to a property. Both are already done.
The Bottom Line for Bend Investors
Over 5,000 square feet, three functional living levels, a permitted ADU, an active short-term rental license, and meaningful recent updates—all in Northwest Bend under a million dollars. The road noise is real, but the income potential is also real. For an investor running the numbers on a house hack or a multi-unit rental strategy, this property is worth a serious look.
If you want to dig into how private money, creative financing, or STR strategies work in Central Oregon, the PRIMO Private Money Academy is where we break all of that down in detail. And if you want to connect with other local investors working through the same questions, join us at the next Central Oregon Investor Network monthly meetup. Both are built for investors who want to move from curious to active.
