3909 NW Cheyenne Ave · Lawton, OK 73505

$149,900

3 bd · 2.0 ba · 1,830 sqft · SingleFamily public records · 115 Days on market

Built 1957 8,500 sqft lot Est $188k · 20% under

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.6/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Rent growth +3.8/5.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great value for this sized square footage. 3 bedroom, 2 bath brick home with a very functional layout. Garage has been converted and could be used for a bedroom or living area. Huge inside utility room. New HVAC and Air unit. Proof of funds with all offers. Selling strictly as is with no warranties or guarantees. Located near HWY 62 & Fort Sill Army base, downtown, shopping and schools. Due to the condition, the property may not qualify for traditional financing. Buyer to assume all responsibility of any code issues (if present), and to be corrected after closing by the buyer. Buyer to verify any and all information.

Key facts

• 8,500 sq ft lot
• Built 1957
• Listed 115 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; One story; Residential property; Updated/Remodeled
• Construction: Brick veneer exterior; Composition roof
• Exterior features: Covered porch; Porch; Chain link fencing

Interior

• Kitchen: Cooktop; Dishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central electric air conditioning
• Interior features: Updated/remodeled interior; Cooktop; Dishwasher; Gas water heater; Crawl space foundation; No fireplace
• Laundry & utility: Laundry area in kitchen; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $63 ($756/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (17.2% below list).
• Recommended offer: $124k (17.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#206 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, commute F.
• Lawton (urban): math 20% / reading 26% proficiency, ranked #137 of 270 in OK (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ridgecrest Es (math 27% / reading 17%, grade F, #413 of 845 statewide, top 54%, 453 students, 0% FRL); Central Ms (math 17% / reading 24%, grade F, #153 of 345 statewide, top 45%, 994 students, 0% FRL); Lawton Hs (math 16% / reading 21%, grade F, #302 of 447 statewide, top 68%, 1,417 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.1%/yr); 404 active listings in the ZIP; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $150k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,064 (17.2% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $188,490
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4601 NW Ridgecrest Dr	0.43mi	3/2.0	1,800 (-2%)	3mo	$195,000	$108	74
2306 NW 41st St	0.39mi	3/2.0	1,700 (-7%)	2mo	$139,900	$82	69
3909 NW Denver Ave	0.07mi	4/1.5 (+1)	1,600 (-13%)	1mo	$165,000	$103	68
3405 NW Kinyon	0.49mi	4/2.0 (+1)	1,800 (-2%)	2mo	$205,000	$114	68
3319 NW Atlanta Ave	0.40mi	3/2.0	1,680 (-8%)	2mo	$180,000	$107	66
3301 NW Baltimore Ave	0.47mi	3/2.0	1,700 (-7%)	0mo	$199,900	$118	66
715 NW 36th St	0.67mi	3/2.0	1,800 (-2%)	1mo	$81,000	$45	65
1620 NW 38th St	0.13mi	4/2.0 (+1)	1,600 (-13%)	3mo	$100,000	$63	65
4636 NW Lincoln Ave	0.68mi	3/2.0	1,800 (-2%)	3mo	$140,500	$78	63
1631 NW Leona Cir	0.29mi	4/2.5 (+1)	2,100 (+15%)	4mo	$329,000	$157	52
833 NW 33rd St	0.71mi	3/2.0	1,600 (-13%)	4mo	$99,500	$62	43
2429 NW 28th St	0.75mi	4/2.0 (+1)	1,600 (-13%)	3mo	$165,000	$103	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.14% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.58×
• Total profit: $-17,606
• Equity at exit: $22,351

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,310
• Equity at exit: $12,961

Cash invested: $41,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73505

• Rents YoY: 5.1%
• Active inventory: 404
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,241 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$69 /mo · $823/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $63

Break-even live

Break-even rent $1,161

Max offer price $149,900

Occupancy floor 90%

Sensitivity live

Price	-10% $148	-5% $105	+0% $63	+5% $21	+10% $-22
Rent	-10% $-35	-5% $14	+0% $63	+5% $112	+10% $161
Rate	-1.0pp $138	-0.5pp $101	base $63	+0.5pp $24	+1.0pp $-15

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $149,900 Active 115 DOM
2. 2026-06-19
   days on market $149,900 Active 113 DOM
3. 2026-06-18
   days on market $149,900 Active 112 DOM
4. 2026-06-17
   days on market $149,900 Active 111 DOM
5. 2026-06-16
   days on market $149,900 Active 110 DOM
6. 2026-06-15
   days on market $149,900 Active 109 DOM
7. 2026-06-14
   days on market $149,900 Active 107 DOM
8. 2026-06-13
   days on market $149,900 Active 106 DOM
9. 2026-06-10
   days on market $149,900 Active 104 DOM
10. 2026-06-09
    days on market $149,900 Active 103 DOM
11. 2026-06-08
    days on market $149,900 Active 102 DOM
12. 2026-06-07
    days on market $149,900 Active 101 DOM
13. 2026-06-05
    days on market $149,900 Active 98 DOM
14. 2026-06-03
    days on market $149,900 Active 97 DOM
15. 2026-06-02
    days on market $149,900 Active 96 DOM
16. 2026-06-01
    days on market $149,900 Active 95 DOM
17. 2026-05-31
    days on market $149,900 Active 94 DOM
18. 2026-05-30
    days on market $149,900 Active 93 DOM
19. 2026-05-01
    price $149,900
20. 2026-04-22
    price $155,000
21. 2026-03-16
    price $169,900
22. 2026-02-25
    listed $179,900 Active
23. 2022-09-12
    soldstatus $65,000 Sold 628-char remark

    Show marketing remark (628 chars)

    Great value for this sized square footage. 3 bedroom, 2 bath brick home with a very functional layout. Garage has been converted and could be used for a bedroom or living area. Huge inside utility room. New HVAC and Air unit. Proof of funds with all offers. Selling strictly as is with no warranties or guarantees. Located near HWY 62 & Fort Sill Army base, downtown, shopping and schools. Due to the condition, the property may not qualify for traditional financing. Buyer to assume all responsibility of any code issues (if present), and to be corrected after closing by the buyer. Buyer to verify any and all information.

24. 2022-07-30
    status Pending 628-char remark

    Show marketing remark (628 chars)

    Great value for this sized square footage. 3 bedroom, 2 bath brick home with a very functional layout. Garage has been converted and could be used for a bedroom or living area. Huge inside utility room. New HVAC and Air unit. Proof of funds with all offers. Selling strictly as is with no warranties or guarantees. Located near HWY 62 & Fort Sill Army base, downtown, shopping and schools. Due to the condition, the property may not qualify for traditional financing. Buyer to assume all responsibility of any code issues (if present), and to be corrected after closing by the buyer. Buyer to verify any and all information.

25. 2022-06-22
    price $84,900 628-char remark

    Show marketing remark (628 chars)

    Great value for this sized square footage. 3 bedroom, 2 bath brick home with a very functional layout. Garage has been converted and could be used for a bedroom or living area. Huge inside utility room. New HVAC and Air unit. Proof of funds with all offers. Selling strictly as is with no warranties or guarantees. Located near HWY 62 & Fort Sill Army base, downtown, shopping and schools. Due to the condition, the property may not qualify for traditional financing. Buyer to assume all responsibility of any code issues (if present), and to be corrected after closing by the buyer. Buyer to verify any and all information.

26. 2022-06-02
    price $94,900 628-char remark

    Show marketing remark (628 chars)

    Great value for this sized square footage. 3 bedroom, 2 bath brick home with a very functional layout. Garage has been converted and could be used for a bedroom or living area. Huge inside utility room. New HVAC and Air unit. Proof of funds with all offers. Selling strictly as is with no warranties or guarantees. Located near HWY 62 & Fort Sill Army base, downtown, shopping and schools. Due to the condition, the property may not qualify for traditional financing. Buyer to assume all responsibility of any code issues (if present), and to be corrected after closing by the buyer. Buyer to verify any and all information.

27. 2022-05-03
    listed $109,900 Active 628-char remark

    Show marketing remark (628 chars)

    Great value for this sized square footage. 3 bedroom, 2 bath brick home with a very functional layout. Garage has been converted and could be used for a bedroom or living area. Huge inside utility room. New HVAC and Air unit. Proof of funds with all offers. Selling strictly as is with no warranties or guarantees. Located near HWY 62 & Fort Sill Army base, downtown, shopping and schools. Due to the condition, the property may not qualify for traditional financing. Buyer to assume all responsibility of any code issues (if present), and to be corrected after closing by the buyer. Buyer to verify any and all information.

28. 1997-06-10
    soldstatus $61,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $823 · $69/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$526/yr (+$44/mo · 63.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,888
• − Mortgage interest: −$8,397
• − Property taxes: −$823
• − Insurance: −$750
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$4,361
• Taxable loss: −$1,824
• Est. tax savings @ 24.0%: +$438
• After-tax cash flow: $1,193/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lawton
• NCES district ID: 4017250
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $42,618
• Composite: 19.68/100
• National rank: #8732
• State rank: #137 of 270 in OK

Livability — Lawton

• Score: 63/100
• State rank: #206
• US rank: #15131

Category grades

Amenities B- Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawton, OK
• County: Comanche County · 96,361 people
• City population: 89,233
• Metro: Lawton, OK
• Population (ZIP): 47,790
• Household income: $58,272
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1986.0

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 124,518 people
• By 2030: 124,231 · -0.2%
• By 2040: 122,193 · -1.9%
• By 2050: 120,368 · -3.3%
• By 2075: 120,492 · -3.2%
• By 2100: 123,113 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 50% Black 17% Two or more races 16% Hispanic / Latino 16% Native American 4% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 6% German/W. Germanic 2% Korean 1%

Political lean MEDSL · Comanche

• 2024 margin: Strong R (+23.3) · D 37.4% · R 60.7% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -17.5pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+20.1 2016: R+23.7 2012: R+17.0 2008: R+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.88%
• Current HPI: 169.4524
• Rent YoY: ▲ 5.14%
• Metro: Lawton, OK
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+143.7% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $149,900 LBRMLS
• 2026-04-22 Price Changed $155,000 LBRMLS
• 2026-03-16 Price Changed $169,900 LBRMLS
• 2026-02-25 Listed $179,900 LBRMLS
• 2022-09-12 Sold (MLS) $65,000 MLSOK
• 2022-07-30 Pending — MLSOK
• 2022-06-22 Price Changed $84,900 MLSOK
• 2022-06-02 Price Changed $94,900 MLSOK
• 2022-05-03 Listed $109,900 MLSOK
• 1997-06-10 Sold (Public Records) $61,500 Public Records

Property tax history

-0.6%/yr

Latest (2025): $823 · +3.1% YoY. Source: county tax records.