26989 S Indian Rd · Pettit, OK 74451

$89,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 68 Days on market

Built 1997 3.23 ac lot

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Why this score? — see what drove the B+ 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

No restrictions on this 3.23 acre parcel 7 minutes to Pettit Bay Marina and Tenkiller Lake Access. Paved road for easy commute to town. Great location for a Lake Area business and or build a new home! The roof is 5 years old; however, this manufactued home is in need of repairs so, No FHA, VA or USDA please.

Key facts

• Paved road
• 3.23 acre parcel
• 3.23 acre lot

Tags

• 3.23 ACRE PARCEL
• TENKILLER LAKE ACCESS
• PAVED ROAD

Property features AI

Finance

• Other: Lot size approximately 3.23 acres; Water body nearby: Tenkiller Lake
• Financial info: Annual taxes info provided
• HOA & community: Community marina

Exterior

• Parking: Driveway parking (gravel)
• Security: No safety shelter
• Utilities: Cable available; Electricity available; Natural gas available; Phone available; Septic tank; Rural water
• Home design: Manufactured home (double wide); Single-story; Faces east; Tie-down foundation
• Construction: Manufactured construction; Asphalt/fiberglass roof
• Exterior features: Enclosed porch; Porch; Gravel driveway; Mature trees; Sloped/rolling lot; Zero lot line; Less than 5 miles to water (Tenkiller Lake); Horses allowed

Interior

• Kitchen: Dishwasher; Oven; Range; Stove
• Bedrooms: Bedroom details not provided
• Flooring: Carpet; Vinyl; Wood veneer
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Window unit(s)
• Interior features: Ceiling fan(s); Laminate counters; Gas range and gas oven connections; Aluminum window frames; Other built-in features
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $84k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#258 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, employment D+.
• Keys (rural): math 39% / reading 40% proficiency, ranked #19 of 270 in OK (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 145 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($615 loan paydown + $5k appreciation (5.7% local appreciation)).
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $71k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $83,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.36% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.49%
• DSCR: 1.91
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 3.04×
• Total profit: $50,908
• Equity at exit: $53,971

10-year hold

• IRR: 29.9%
• Equity multiple: 6.18×
• Total profit: $128,984
• Equity at exit: $96,209

Cash invested: $24,920 (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 74451

• Home prices YoY: 2.2%
• Active inventory: 145
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,210 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$26 /mo · $316/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $426

Break-even live

Break-even rent $671

Max offer price $89,000

Occupancy floor 60%

Sensitivity live

Price	-10% $476	-5% $451	+0% $426	+5% $400	+10% $375
Rent	-10% $330	-5% $378	+0% $426	+5% $473	+10% $521
Rate	-1.0pp $470	-0.5pp $448	base $426	+0.5pp $403	+1.0pp $379

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-17
   status $89,000 Pending 68 DOM
2. 2026-06-16
   days on market $89,000 Active 68 DOM
3. 2026-06-15
   days on market $89,000 Active 67 DOM
4. 2026-06-14
   days on market $89,000 Active 65 DOM
5. 2026-06-12
   days on market $89,000 Active 64 DOM
6. 2026-06-09
   days on market $89,000 Active 61 DOM
7. 2026-06-08
   days on market $89,000 Active 60 DOM
8. 2026-06-07
   days on market $89,000 Active 59 DOM
9. 2026-06-05
   days on market $89,000 Active 56 DOM
10. 2026-06-02
    days on market $89,000 Active 54 DOM
11. 2026-06-01
    days on market $89,000 Active 53 DOM
12. 2026-05-31
    days on market $89,000 Active 52 DOM
13. 2026-05-30
    days on market $89,000 Active 51 DOM
14. 2026-05-21
    price $89,000
15. 2026-04-08
    listed $109,000 Active
16. 2002-04-03
    soldstatus $71,000
17. 2002-04-03
    soldstatus $71,000
18. 2002-02-14
    historical
19. 2002-01-22
    listed $59,000

ⓘ 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: $316 · $26/mo
• Projected year-2 tax: $801 · $67/mo
• Expected delta: +$485/yr (+$40/mo · 153.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,517
• − Mortgage interest: −$4,985
• − Property taxes: −$316
• − Insurance: −$445
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$2,589
• Taxable income: $3,859
• Est. tax owed @ 24.0%: −$926
• After-tax cash flow: $4,181/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: Keys
• NCES district ID: 4000033
• Math proficiency: 39% ▼ -2.00%
• Reading proficiency: 40% ▲ 4.00%
• Median HH income: $46,426
• Composite: 33.74/100
• National rank: #5370
• State rank: #19 of 270 in OK

Livability — Pettit

• Score: 62/100
• State rank: #258
• US rank: #16899

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pettit, OK
• Population (ZIP): 3,816

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 51,747 people
• By 2030: 53,481 · +3.4%
• By 2040: 56,503 · +9.2%
• By 2050: 59,370 · +14.7%
• By 2075: 67,178 · +29.8%
• By 2100: 70,900 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 52% Native American 27% Two or more races 20% Hispanic / Latino 4%
• Common ancestry: Italian 6% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+32.6) · D 32.7% · R 65.3% · Other 2.0%
• 2008→2024 swing: -20.4pp toward R · 2008: -12.2pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+29.3 2016: R+27.5 2012: R+14.1 2008: R+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.65%
• Current HPI: 256.0707
• Rent YoY: —
• Metro: —
• 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

+50.8% since first listed

6 events — show timeline

• 2026-05-21 Price Changed $89,000 MLS Technology, Inc.
• 2026-04-08 Listed $109,000 MLS Technology, Inc.
• 2002-04-03 Sold (Public Records) $71,000 Public Records
• 2002-04-03 Sold (MLS) $71,000 MLS Technology, Inc.
• 2002-02-14 Listing Removed — MLS Technology, Inc.
• 2002-01-22 Listed $59,000 MLS Technology, Inc.

Property tax history

-3.2%/yr

Latest (2025): $316 · +0.3% YoY. Source: county tax records.