under $150,000 cheap property Chiloquin Oregon
$
110,000
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Chiloquin, Oregon
200 Rainbow Park Dr
2
Beds
1
Baths
720
Sq Ft
1975
Built

Acreage, Garage, Wooded Lot, Craftsman

12 Acres, an Airstream Conversion, and an Underground Bunker Near the Williamson River — $110,000

7

out of 10

HousesUnder150K Score

Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%

CategoryWt.ScoreDetail
Property Merit50%812 acres / 3 parcels, wooded, Airstream conversion, solar, bunker, 2 garages
Condition25%5As-is; TLC needed; addition unfinished; septic status uncertain; metal roof positive
Price / Sq Ft15%7Listing $153/sqft vs zip median $189/sqft — ~19% below; thin data (3 comps)
Price vs. Market5%9$110K vs $278,918 zip median — ~61% below; median may include acreage sales
Market Conditions5%7DOM 81 days, 46% price drops, sale-to-list 97.3% — clear buyer's market signals

The main house started life as an Airstream trailer. Someone converted it, added tall ceilings, put on a metal roof, and ran careful woodwork through the interior. A two-bedroom, one-bath layout at 720 square feet, which is tight by any measure, but the property around it is what you're actually buying.

Twelve acres spread across three parcels. Wooded with pine and birch. Easy highway access and proximity to the Williamson River. Solar power on site. Fiber internet. A well and septic already in place, which means you can live here without being on a grid, if that's what you're after. Two detached garages. And then there's the three-story underground bunker, which the listing drops in casually but which is the kind of thing that stops you mid-scroll. Whether that reads as a selling point or a curiosity depends entirely on who you are.

There's a 2-bedroom, 1-bathroom addition that was started but not finished. The septic status is listed as uncertain, and the property sells as-is. That's real information. The addition will cost money and time to complete, and you'll need to figure out the septic situation before you close or shortly after. At 81 days on market with 46 percent of comparable listings seeing price cuts, this is a buyer's market and this property reflects it.

At $110,000 against a zip code median somewhere around $279,000, the gap is wide. Some of that spread comes from how comparable sales are counted, but even adjusting for that, this comes in around 19 percent below the median price per square foot for the area. You're getting a lot of land, a genuinely unusual structure, and serious off-grid infrastructure for a number that would buy you a basic lot in a lot of other places.

The right person for this is someone who can tolerate the unknowns, finish the work, and wants 12 wooded acres near a river in southern Oregon more than they want a clean closing.

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