When I work with buyers moving to Bend from out of the area, particularly from larger cities, they are usually drawn to NW Bend because of the privacy provided by lots of trees and larger lots. One neighborhood that fits the bill is Valhalla Heights. Valhalla Heights is located where Mt. Washington Dr. meets Shevlin Park Rd., making it close to downtown and the Newport Ave. hub, which has coffee shops, restaurants, and Newport Market grocery store. It's also very close to Shevlin Park, a mostly undeveloped park popular with hikers, joggers and mountain bikers because of the extensive trail system and Tumalo Creek, which runs through the heart of the park.
Most of the homes in Valhalla Heights were built in the late 1970's and 1980's and many of them have been nicely remodeled. You'll even find a few newer homes that were built in 2004-2008. The average lot size is roughly 0.25 acre (about 11,000 sq. ft.) and most homes are surrounded by mature Ponderosa Pines. Home prices in Valhalla Heights currently range from $259,000 - $525,000. Schools in this part of Bend are High Lakes Elementary, Cascade Middle School, and Summit High School. There are CCR's but no Home Owner's Association
$259,000 2424 NW Marken St. - 4 beds/4 baths, 2553 SF, 0.3 acre lot, built 1980
$275,000 2621 NW Marken St. - 3 beds/2 baths, 1661 SF, 0.3 acre lot, built 1980
$395,000 2534 NW Torsway St. - 3 beds/2 bath, 1996 SF, 0.26 acre lot, built 1995
$424,000 2716 NW Nordic Ave. - 3 beds/3 baths, 2360 SF, 0.22 acre lot, built 2002
$439,000 2351 NW Torsway St. - 4 beds/3 baths, 3210 SF, 0.28 acre lot, built 1981
$475,000 2650 NW Nordic Ave. - 3 beds/2.5 baths, 2433 SF, 0.18 acre lot, built 2004
$476,500 2461 NW Marken St. - 6 beds/5.5 baths, 4292 SF, 0.19 acre lot, built 2006
$525,000 2463 NW Marken St. - 4 beds/2.5 baths, 2892 SF, 0.52 acre lot, built 1985
Here's a bird's eye view of the neighborhood from bing.com (click to enlarge).