For Sale · Mt. Hood Short-Term-Rental Cabin
A Mt. Hood cabin that pays its own way.
71010 E McFarland Rd · Rhododendron, OR 97049 · on the Zigzag River
$589,000 Furnished · documented STR income · three deeded parcels
Forty-five minutes from Portland on the Zigzag River — twelve minutes to Skibowl, thirty to Timberline. A renovated four-bedroom cabin with vaulted cedar interiors, a woodburning stove, three sleeping zones (sleeps 8+), and a permitted hot tub on the deck. Live in it, rent it, or do both: the short-term-rental right transfers with title, and Rhododendron sits outside the permit-capped corridors that constrain most of metro Mt. Hood.
Owner accrual statements, 2021–2025, normalized to the cabin's recurring operating profile. Revenue dipped from the 2021 peak through renovation downtime, a $30K septic replacement, and management turnover — not from a loss of demand.
| Year | Gross Revenue | Operating Expense | NOI | Margin |
|---|---|---|---|---|
| 2021 (peak) | $109,887 | $42,688 | $67,199 | 61% |
| 2022 (reno / septic) | $71,277 | $30,959 | $40,318 | 57% |
| 2023 (reno / mgmt churn) | $51,399 | $40,365 | $11,034 | 21% |
| 2024 (stabilizing) | $69,330 | $38,139 | $31,191 | 45% |
| 2025 (in-place) | $67,010 | $45,999 | $21,011 | 31% |
| Conservative | Base Case | Upside (2021 Proven) | |
|---|---|---|---|
| Gross Rental Revenue | $67,000 | $85,000 | $110,000 |
| Net Operating Income | $27,300 | $41,700 | $61,700 |
Cap rates are unlevered NOI ÷ $589,000 asking price. Pro forma assumes a single professional management company in line with corridor norms; fixed costs held flat. Buyer should independently verify against active local STR comps.
| Parcel | Size | County Land Value | Status |
|---|---|---|---|
| I · 37E03BD/07600 (Lots 1, 2) | 4,800 sf | $137,869 | Cabin |
| II · 37E03BD/06200 (Lot 40) | 2,400 sf | $9,218 | Vacant |
| III · 37E03BD/06300 (Lots 36–39) | 9,600 sf | $32,823 | Vacant |
| Total at closing | 16,800 sf | $179,910 | Bundle |
The two vacant parcels are below Clackamas County's 2-acre RR minimum for new construction, but convey under their own deeds — separately saleable, or held for privacy buffer and future optionality.
All information is derived from sources deemed reliable, including owner-provided accrual statements and county property records, but no warranty as to accuracy is expressed or implied. Financial projections are forward-looking, depend on operator execution and market conditions, and should be independently verified. Property comprises three separately-deeded tax parcels under common ownership; new construction on the two vacant parcels is restricted by current Clackamas County RR zoning (2-acre minimum lot size). Buyer is responsible for verifying square footage, lot dimensions, parcel composition, zoning, septic status, short-term-rental licensing, and all material facts prior to closing.