5217 Nowata Rd Unit 203C · Bartlesville, OK 74006

$89,900

2 bd · 2.0 ba · 1,029 sqft · Condo · 121 Days on market

Built 1983 $340/mo HOA · 27% of rent

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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 +16.3/30.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2ND STORY FLAT IN GREAT CONDITION! VAULTED CEILING. CENTRAL AIR JULY 2003. NICE SIZED ROOMS. SEPARATE UTILITY RM. ASSOC. DUES $146 PER MONTH.

Key facts

• Covered parking
• Private balcony
• Pool

Tags

• POOL
• COVERED PARKING
• PRIVATE BALCONY

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with monthly fee (Maintenance of structure included); Association amenities: clubhouse, pool, parking; Community sidewalks

Exterior

• Parking: Has garage (1-car); Has carport; Covered parking
• Security: Smoke detector(s); No safety shelter
• Utilities: Electricity available; Natural gas available; High-speed internet available; Phone available; Public water; Public sewer
• Home design: Two stories; Northeast facing
• Construction: Built (year per public records); Brick, HardiPlank, and wood frame construction; Asphalt/fiberglass roof
• Exterior features: Concrete driveway; Deck; In-ground gunite pool

Interior

• Kitchen: Double oven; Oven; Range; Dishwasher; Disposal; Gas water heater; Mini-kitchen (Second level)
• Bedrooms: Master bedroom with private bath (Second level); Additional bedroom (Second level)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms; Hall full bath (Second level); Master full bath (Second level)
• Heating & cooling: Central heating (Gas); Central air conditioning
• Interior features: Vinyl and insulated windows; Accessible doors; Laminate countertops; Ceiling fans; Electric oven and range connections
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (Inside, First level)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $49 ($584/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.7% in Bartlesville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#175 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, crime D+.
• Bartlesville (town): math 30% / reading 29% proficiency, ranked #59 of 270 in OK (top 22%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 231 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 46 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washington County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $44k; list at $90k implies a 103% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -12.3%
• Equity multiple: 0.55×
• Total profit: $-11,242
• Equity at exit: $13,404

10-year hold

• IRR: -2.8%
• Equity multiple: 0.81×
• Total profit: $-4,874
• Equity at exit: $7,773

Cash invested: $25,172 (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 74006

• Home prices YoY: -33.2%
• Active inventory: 231
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,278 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$340
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $49

Break-even live

Break-even rent $1,217

Max offer price $89,900

Occupancy floor 91%

Sensitivity live

Price	-10% $111	-5% $80	+0% $49	+5% $18	+10% $-13
Rent	-10% $-52	-5% $-2	+0% $49	+5% $99	+10% $150
Rate	-1.0pp $94	-0.5pp $71	base $49	+0.5pp $25	+1.0pp $2

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4007 Morgan Ave Bartlesville, OK	2.0	1.0	1232	$1,295	$1.05	21d	1	0.92mi
4715 SE Adams Blvd Unit 905D Bartlesville, OK	2.0	2.0	953	$900	$0.94	12d	1	0.99mi
5530 Colony Way Bartlesville, OK	1.0–2.0	1.0–2.5	1176	$1,399	$1.19	24d	4	1.08mi
5610 Baylor Dr Bartlesville, OK	3.0	2.0	1407	$1,500	$1.07	3d	1	1.39mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-19
   days on market $89,900 Active 121 DOM
2. 2026-06-18
   days on market $89,900 Active 120 DOM
3. 2026-06-17
   days on market $89,900 Active 119 DOM
4. 2026-06-16
   days on market $89,900 Active 118 DOM
5. 2026-06-15
   days on market $89,900 Active 117 DOM
6. 2026-06-14
   days on market $89,900 Active 115 DOM
7. 2026-06-12
   days on market $89,900 Active 114 DOM
8. 2026-06-09
   days on market $89,900 Active 111 DOM
9. 2026-06-08
   days on market $89,900 Active 110 DOM
10. 2026-06-07
    days on market $89,900 Active 109 DOM
11. 2026-06-05
    days on market $89,900 Active 106 DOM
12. 2026-06-03
    days on market $89,900 Active 105 DOM
13. 2026-06-02
    days on market $89,900 Active 104 DOM
14. 2026-06-01
    days on market $89,900 Active 103 DOM
15. 2026-05-31
    days on market $89,900 Active 102 DOM
16. 2026-05-30
    days on market $89,900 Active 101 DOM
17. 2026-02-16
    listed $89,900 Active
18. 2026-01-15
    historical
19. 2025-09-26
    price $93,000
20. 2025-07-16
    listed $95,000 Active
21. 2005-03-11
    soldstatus $44,300 142-char remark

    Show marketing remark (142 chars)

    2ND STORY FLAT IN GREAT CONDITION! VAULTED CEILING. CENTRAL AIR JULY 2003. NICE SIZED ROOMS. SEPARATE UTILITY RM. ASSOC. DUES $146 PER MONTH.

22. 2005-02-11
    historical 142-char remark

    Show marketing remark (142 chars)

    2ND STORY FLAT IN GREAT CONDITION! VAULTED CEILING. CENTRAL AIR JULY 2003. NICE SIZED ROOMS. SEPARATE UTILITY RM. ASSOC. DUES $146 PER MONTH.

23. 2005-01-03
    listed $39,500 142-char remark

    Show marketing remark (142 chars)

    2ND STORY FLAT IN GREAT CONDITION! VAULTED CEILING. CENTRAL AIR JULY 2003. NICE SIZED ROOMS. SEPARATE UTILITY RM. ASSOC. DUES $146 PER MONTH.

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

Taxation est. · year 1

• Rental income: $15,340
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,227
• − Management: −$1,227
• − HOA: −$4,080
• − Depreciation: −$2,615
• Taxable loss: −$643
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $738/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: Bartlesville
• NCES district ID: 4003630
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $48,889
• Composite: 25.69/100
• National rank: #7389
• State rank: #59 of 270 in OK

Livability — Bartlesville

• Score: 64/100
• State rank: #175
• US rank: #13940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bartlesville, OK
• County: Washington County · 41,935 people
• City population: 41,935
• Metro: Bartlesville, OK
• Population (ZIP): 27,911
• Household income: $71,796
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 563.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 54,946 people
• By 2030: 56,249 · +2.4%
• By 2040: 58,867 · +7.1%
• By 2050: 61,600 · +12.1%
• By 2075: 69,355 · +26.2%
• By 2100: 73,067 · +33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 9% Native American 7% Hispanic / Latino 6% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 4% Vietnamese 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+47.6) · D 25.0% · R 72.7% · Other 2.4%
• 2008→2024 swing: -3.1pp toward R · 2008: -44.6pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+48.0 2016: R+48.5 2012: R+47.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.35%
• Current HPI: 237.9056
• Rent YoY: —
• Metro: Bartlesville, 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

+127.6% since first listed

7 events — show timeline

• 2026-02-16 Listed $89,900 MLS Technology, Inc.
• 2026-01-15 Listing Removed — MLS Technology, Inc.
• 2025-09-26 Price Changed $93,000 MLS Technology, Inc.
• 2025-07-16 Listed $95,000 MLS Technology, Inc.
• 2005-03-11 Sold (MLS) $44,300 MLS Technology, Inc.
• 2005-02-11 Listing Removed — MLS Technology, Inc.
• 2005-01-03 Listed $39,500 MLS Technology, Inc.