6900 Winchester Dr · El Reno, OK 73036

$222,500

4 bd · 2.0 ba · 2,128 sqft · SingleFamily public records · 12 Days on market

Built 2017 1.00 ac lot

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Why this score? — see what drove the D- 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 +11.5/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Rent growth +3.5/5.0
• DSCR +3.4/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to country living with easy access to I-40! This spacious home with new roof sits on a full 1-acre lot in Banner Schools. Inside you'll find 4 true bedrooms, a living room plus a formal dining, large pantry and master suite with dual vanities. Outside, enjoy your morning coffee or host BBQ's on the open deck. The shed was built-on-site with electric ran to it, stays with the property. The septic has been recently reran/updated and the property has been well maintained. Large, gravel driveway offers easy access and ample parking. Still plenty of room to build a shop!

Key facts

• 1 acre lot
• Built 2017
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $222k.

Deal economics

• At list price, monthly cash flow is $-74 ($-893/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (26.4% below list).
• Recommended offer: $164k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.8% in El Reno — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#95 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, schools F, amenities F.
• Banner (rural): math 55% / reading 50% proficiency, ranked #11 of 513 in OK (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 280 active listings in the ZIP; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 19y ago; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,782 (26.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.74% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 11.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.19% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-38,888
• Equity at exit: $33,175

10-year hold

• IRR: -7.8%
• Equity multiple: 0.49×
• Total profit: $-31,945
• Equity at exit: $19,238

Cash invested: $62,300 (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 73036

• Home prices YoY: -3.3%
• Rents YoY: 4.2%
• Active inventory: 280
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,638 medium
• Mortgage (P&I): −$1,167
• Tax from tax record: −$109 /mo · $1,305/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-74

Break-even live

Break-even rent $1,732

Max offer price $209,358

Occupancy floor 100%

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: $55,625
• Closing costs: $6,675
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $222,500 Active 12 DOM
2. 2026-06-17
   days on market $222,500 Active 11 DOM
3. 2026-06-16
   days on market $222,500 Active 10 DOM
4. 2026-06-15
   days on market $222,500 Active 9 DOM
5. 2026-06-13
   days on market $222,500 Active 7 DOM
6. 2026-06-13
   days on market $222,500 Active 6 DOM
7. 2026-06-09
   days on market $222,500 Active 3 DOM
8. 2026-06-08
   days on market $222,500 Active 2 DOM
9. 2026-06-07
   remarks 431-char remark
10. 2026-06-07
    pricedays on marketlisting id $222,500 Active 1 DOM
11. 2026-06-03
    days on market $235,000 Active 8 DOM
12. 2026-06-02
    days on market $235,000 Active 7 DOM
13. 2026-06-01
    days on market $235,000 Active 6 DOM
14. 2026-05-31
    days on market $235,000 Active 5 DOM
15. 2026-05-26
    listed $235,000 Active
16. 2025-05-28
    soldstatus $196,000
17. 2025-05-23
    soldstatus $196,000 Closed 585-char remark

    Show marketing remark (585 chars)

    Welcome to country living with easy access to I-40! This spacious home with new roof sits on a full 1-acre lot in Banner Schools. Inside you'll find 4 true bedrooms, a living room plus a formal dining, large pantry and master suite with dual vanities. Outside, enjoy your morning coffee or host BBQ's on the open deck. The shed was built-on-site with electric ran to it, stays with the property. The septic has been recently reran/updated and the property has been well maintained. Large, gravel driveway offers easy access and ample parking. Still plenty of room to build a shop!

18. 2025-04-28
    status Pending 585-char remark

    Show marketing remark (585 chars)

    Welcome to country living with easy access to I-40! This spacious home with new roof sits on a full 1-acre lot in Banner Schools. Inside you'll find 4 true bedrooms, a living room plus a formal dining, large pantry and master suite with dual vanities. Outside, enjoy your morning coffee or host BBQ's on the open deck. The shed was built-on-site with electric ran to it, stays with the property. The septic has been recently reran/updated and the property has been well maintained. Large, gravel driveway offers easy access and ample parking. Still plenty of room to build a shop!

19. 2025-04-04
    listed $220,000 Active 585-char remark

    Show marketing remark (585 chars)

    Welcome to country living with easy access to I-40! This spacious home with new roof sits on a full 1-acre lot in Banner Schools. Inside you'll find 4 true bedrooms, a living room plus a formal dining, large pantry and master suite with dual vanities. Outside, enjoy your morning coffee or host BBQ's on the open deck. The shed was built-on-site with electric ran to it, stays with the property. The septic has been recently reran/updated and the property has been well maintained. Large, gravel driveway offers easy access and ample parking. Still plenty of room to build a shop!

20. 2019-10-01
    historical
21. 2019-10-01
    status Active
22. 2019-09-03
    historical
23. 2019-09-01
    status Active
24. 2019-08-18
    historical
25. 2019-08-17
    status Active
26. 2019-08-02
    historical
27. 2019-08-02
    status Active
28. 2019-07-08
    historical
29. 2019-07-07
    status Active
30. 2019-06-07
    historical
31. 2019-04-17
    status Pending
32. 2019-04-10
    listed $150,000 Active
33. 2007-08-14
    historical
34. 2007-02-28
    listed $14,950

ⓘ 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: $1,305 · $109/mo
• Projected year-2 tax: $2,002 · $167/mo
• Expected delta: +$697/yr (+$58/mo · 53.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,654
• − Mortgage interest: −$12,463
• − Property taxes: −$1,305
• − Insurance: −$1,112
• − Repairs & maintenance: −$1,572
• − Management: −$1,572
• − Depreciation: −$6,473
• Taxable loss: −$4,844
• Est. tax savings @ 24.0%: +$1,163
• After-tax cash flow: $270/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: Banner
• NCES district ID: 4003540
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $70,134
• Composite: 48.71/100
• National rank: #4555
• State rank: #11 of 513 in OK

Livability — El Reno

• Score: 67/100
• State rank: #95
• US rank: #10933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Canadian County · 154,341 people
• City population: 21,387
• Metro: Oklahoma City, OK
• Population (ZIP): 21,387
• Household income: $59,915
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 580.0

Population outlook (Canadian County) Hauer SSP2

• Today (2025): 174,062 people
• By 2030: 195,170 · +12.1%
• By 2040: 239,293 · +37.5%
• By 2050: 285,457 · +64.0%
• By 2075: 403,766 · +132.0%
• By 2100: 498,766 · +186.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 17% Two or more races 8% Native American 8% Black 6%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Canadian

• 2024 margin: Solid R (+40.4) · D 28.8% · R 69.2% · Other 2.0%
• 2008→2024 swing: +11.9pp toward D · 2008: -52.2pp · 2024: -40.4pp
• All cycles: 2024: R+40.4 2020: R+43.3 2016: R+51.2 2012: R+54.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.37%
• Current HPI: 334.5896
• Rent YoY: ▲ 4.19%
• Metro: Oklahoma City, 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

+1471.9% since first listed

20 events — show timeline

• 2026-05-26 Listed $235,000 FSBO.com
• 2025-05-28 Sold (Public Records) $196,000 Public Records
• 2025-05-23 Sold (MLS) $196,000 MLSOK
• 2025-04-28 Pending — MLSOK
• 2025-04-04 Listed $220,000 MLSOK
• 2019-10-01 Listing Removed — MLSOK
• 2019-10-01 Relisted — MLSOK
• 2019-09-03 Listing Removed — MLSOK
• 2019-09-01 Relisted — MLSOK
• 2019-08-18 Listing Removed — MLSOK
• 2019-08-17 Relisted — MLSOK
• 2019-08-02 Listing Removed — MLSOK
• 2019-08-02 Relisted — MLSOK
• 2019-07-08 Listing Removed — MLSOK
• 2019-07-07 Relisted — MLSOK
• 2019-06-07 Listing Removed — MLSOK
• 2019-04-17 Pending — MLSOK
• 2019-04-10 Listed $150,000 MLSOK
• 2007-08-14 Listing Removed — MLSOK
• 2007-02-28 Listed $14,950 MLSOK

Property tax history

+40.5%/yr

Latest (2025): $1,305 · +11.3% YoY. Source: county tax records.