807 W Oklahoma Ave · Okeene, OK 73763

$599,000

600 bd · 600.0 ba · 10,572 sqft · MultiFamily · 182 Days on market

Built 1978 1.11 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 24 units. estimate disagrees with records

Listing remarks

This is a 24 Unit Apartment Property. There are 23 Efficiency Apartments and one 2 Bedroom-2 Bath Apartment. The latter would be ideal for an onsite Property Manager. The Rehab of the 23 Units has begun but most are not completed. The ones that are completed have wood tile flooring, kitchen area, new stove, new microwave, etc. The ones that are not completed have the majority of the needed appliances and supplies on site to complete the project. This property was operated as a Motel in years past. This has an opportunity to have an excellent cash flow and cap rate.

Key facts

• New stove
• Kitchen area
• Wood tile flooring

Tags

• WOOD TILE FLOORING
• KITCHEN AREA
• NEW STOVE
• NEW MICROWAVE

Property features AI

Finance

• Other: Legal addition: West Side Add
• Financial info: Current price listed; Assumable: No

Exterior

• Home design: Residential income property; Other subtype; Existing property
• Construction: Brick and frame construction; Composition roof; Built (existing) structure
• Exterior features: Corner lot

Interior

• Bedrooms: 25 bedrooms
• Bathrooms: 25 full bathrooms
• Interior features: Slab foundation

What this means for you Summary

Snapshot

• This is a 24 × 25-bed/25.0-bath units multifamily listed at $599k.

Deal economics

• At list price, monthly cash flow is $16k ($191k/yr) — positive. Per door: $662/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($25k rent vs $599k).
• Recommended offer: $527k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#19 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Okeene (rural): math 30% / reading 30% proficiency, ranked #256 of 513 in OK (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Okeene Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 176 students, 0% FRL); Okeene Jr-Sr Hs (Sr) (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 106 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Okeene average; the district grade overstates school quality for this exact location.
• Market conditions: 8 active listings in the ZIP; 3 units permitted in Blaine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $64k of equity ($4k loan paydown + $60k appreciation (10.0% local appreciation)).
• Blaine County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $168k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$103k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($527k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $599k implies a 1098% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 5→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $527,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 4.10% ✓
• Cap rate: 38.12%
• Cash-on-cash: 113.66%
• DSCR: 6.06
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.98×
• Total profit: $1,338,012
• Equity at exit: $539,627

10-year hold

• IRR: —
• Equity multiple: 19.75×
• Total profit: $3,144,550
• Equity at exit: $1,163,725

Cash invested: $167,720 (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 73763

• Home prices YoY: 5.1%
• Active inventory: 8
• Price-to-rent: 48.8×

Monthly cashflow live

• Estimated rent: $24,572 medium
• Mortgage (P&I): −$3,141
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,160
• Net cashflow: $15,886

Break-even live

Break-even rent $4,463

Max offer price $599,000

Occupancy floor 30%

24-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 24× units	25	25	$24,576
Total (24 units)			$24,572

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: $149,750
• Closing costs: $17,970
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-17
   days on market $599,000 Active 182 DOM
2. 2026-06-16
   days on market $599,000 Active 181 DOM
3. 2026-06-15
   days on market $599,000 Active 180 DOM
4. 2026-06-13
   days on market $599,000 Active 178 DOM
5. 2026-06-12
   days on market $599,000 Active 177 DOM
6. 2026-06-09
   days on market $599,000 Active 174 DOM
7. 2026-06-08
   days on market $599,000 Active 173 DOM
8. 2026-06-08
   days on market $599,000 Active 172 DOM
9. 2026-06-07
   days on market $599,000 Active 171 DOM
10. 2026-06-04
    days on market $599,000 Active 168 DOM
11. 2026-06-02
    days on market $599,000 Active 167 DOM
12. 2026-06-01
    days on market $599,000 Active 166 DOM
13. 2026-05-31
    days on market $599,000 Active 165 DOM
14. 2026-01-21
    price $599,000
15. 2025-12-17
    listed $650,000 Active
16. 2020-04-21
    soldstatus $50,000

ⓘ 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: $1,621 · $135/mo
• Projected year-2 tax: $5,391 · $449/mo
• Expected delta: +$3,770/yr (+$314/mo · 232.6%)

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

Climate risk First Street

• 🌡 Heat 6/10 Major
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $294,864
• − Mortgage interest: −$33,553
• − Property taxes: −$1,621
• − Insurance: −$2,995
• − Repairs & maintenance: −$23,589
• − Management: −$23,589
• − Depreciation: −$17,425
• Taxable income: $192,091
• Est. tax owed @ 24.0%: −$46,102
• After-tax cash flow: $144,530/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: Okeene
• NCES district ID: 4022650
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $43,708
• Composite: 28.44/100
• National rank: #12108
• State rank: #256 of 513 in OK

Livability — Okeene

• Score: 73/100
• State rank: #19
• US rank: #5599

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okeene, OK
• Population (ZIP): 1,746

Population outlook (Blaine County) Hauer SSP2

• Today (2025): 10,545 people
• By 2030: 10,898 · +3.3%
• By 2040: 11,795 · +11.9%
• By 2050: 12,754 · +20.9%
• By 2075: 15,721 · +49.1%
• By 2100: 16,043 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 8% Romanian 4% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 2%

Political lean MEDSL · Blaine

• 2024 margin: Solid R (+63.0) · D 17.7% · R 80.7% · Other 1.6%
• 2008→2024 swing: -12.1pp toward R · 2008: -50.8pp · 2024: -63.0pp
• All cycles: 2024: R+63.0 2020: R+62.8 2016: R+57.3 2012: R+48.0 2008: R+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.11%
• Current HPI: 209.7871
• 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

+1098.0% since first listed

3 events — show timeline

• 2026-01-21 Price Changed $599,000 MLSOK
• 2025-12-17 Listed $650,000 MLSOK
• 2020-04-21 Sold (Public Records) $50,000 Public Records