510 S Choctaw Ave · El Reno, OK 73036

$118,275

3 bd · 1.0 ba · 1,153 sqft · SingleFamily public records · 130 Days on market

Built 1920 6,251 sqft lot Est $153k · 23% under

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.3/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

Key facts

• New hot water tank
• Great location
• Large living room

Tags

• LARGE LIVING ROOM
• MINI SPLIT
• NEW HOT WATER TANK
• GREAT LOCATION

Property features AI

Finance

• Other: Located in El Reno Orig Town addition; Homestead not indicated
• Financial info: Loan qualifying permitted; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Utilities: No flood insurance indicated
• Home design: Single family residence; Residential property; One-level entry; Faces west
• Construction: Brick and frame construction; Composition roof; Combination foundation; Built (existing)
• Exterior features: Covered porch; Infill lot

Interior

• Kitchen: 1 dining area
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: No fireplace; No in-law plan
• Laundry & utility: Combination foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 4.8% in El Reno — 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 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-, amenities F, commute F.
• El Reno (town): math 12% / reading 15% proficiency, ranked #232 of 270 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lincoln Learning Ctr (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 384 students, 0% FRL); El Reno Hs (math 16% / reading 19%, grade F, #307 of 447 statewide, top 69%, 980 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 280 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $817 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $12k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $118k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $104,082 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.79%
• DSCR: 1.52
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $153,349
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 S Reno Ave	0.42mi	2/1.0 (-1)	1,093 (-5%)	1mo	$149,900	$137	66
314 S Roberts Ave	0.45mi	3/1.0	1,028 (-11%)	2mo	$141,000	$137	59
1220 W Warren St	0.73mi	3/1.0	1,107 (-4%)	2mo	$157,000	$142	58
1012 S Ellison Ave	0.59mi	2/1.0 (-1)	1,090 (-6%)	2mo	$114,000	$105	57
104 W Foreman St	0.55mi	3/1.0	1,032 (-10%)	2mo	$45,000	$44	55
520 S Reno Ave	0.44mi	4/2.0 (+1)	1,256 (+9%)	1mo	$176,000	$140	54
605 W Cheyenne St	0.70mi	3/2.0	1,200 (+4%)	4mo	$160,000	$133	54
709 S Hadden St	0.40mi	2/1.0 (-1)	1,297 (+12%)	5mo	$100,000	$77	51
818 E Watts St	0.57mi	2/1.0 (-1)	1,024 (-11%)	1mo	$125,000	$122	49
413 N Rock Island Ave	0.52mi	3/2.0	1,314 (+14%)	3mo	$183,500	$140	46
1008 E Woodson St	0.70mi	3/1.0	999 (-13%)	1mo	$75,500	$76	44
324 Hal Dr	0.68mi	2/1.0 (-1)	1,000 (-13%)	6mo	$118,000	$118	36

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 · 4.19% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.10×
• Total profit: $3,150
• Equity at exit: $17,635

10-year hold

• IRR: 13.0%
• Equity multiple: 2.09×
• Total profit: $36,110
• Equity at exit: $10,226

Cash invested: $33,117 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,337 high
• Mortgage (P&I): −$620
• Tax from tax record: −$61 /mo · $735/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $325

Break-even live

Break-even rent $925

Max offer price $118,275

Occupancy floor 71%

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: $29,569
• Closing costs: $3,548
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
819 S Wilson Ave El Reno, OK	3.0	2.0	1200	$1,325	$1.10	3d	1	0.38mi
819 S Wilson Ave Unit 819 El Reno, OK	3.0	2.0	1200	$1,325	$1.10	1d	1	0.38mi
1020 W Hayes St El Reno, OK	2.0	2.0	865	$1,250	$1.45	1d	1	0.63mi
607 N Evans Ave El Reno, OK	2.0	1.0	1032	$1,025	$0.99	1d	1	0.63mi
1518 W London St Apt 3 El Reno, OK	2.0	1.0	750	$795	$1.06	23d	1	0.96mi
1320 E Cavanaugh St El Reno, OK	3.0	2.0	1222	$1,400	$1.15	10d	1	0.99mi
1915 S Jensen Ave El Reno, OK	3.0	1.5	1402	$1,400	$1.00	1d	1	1.05mi
702 Amity Ln El Reno, OK	2.0	2.0	1487	$1,550	$1.04	1d	1	1.21mi
1543 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	1d	1	1.28mi
2001 S Country Club Rd El Reno, OK	2.0	1.0	768	$850	$1.11	21d	1	1.32mi
1541 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	4d	1	1.32mi
1541 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	1d	1	1.32mi
814 SW 25th St El Reno, OK	3.0	2.0	1411	$1,375	$0.97	19d	1	1.44mi

Listing history 36 events

1. 2026-06-18
   days on market $118,275 Active 130 DOM
2. 2026-06-17
   days on market $118,275 Active 129 DOM
3. 2026-06-16
   days on market $118,275 Active 128 DOM
4. 2026-06-16
   price $118,275 Active 127 DOM
5. 2026-06-15
   days on market $124,500 Active 127 DOM
6. 2026-06-13
   days on market $124,500 Active 125 DOM
7. 2026-06-13
   days on market $124,500 Active 124 DOM
8. 2026-06-09
   days on market $124,500 Active 121 DOM
9. 2026-06-08
   days on market $124,500 Active 120 DOM
10. 2026-06-07
    days on market $124,500 Active 119 DOM
11. 2026-06-05
    days on market $124,500 Active 116 DOM
12. 2026-06-03
    days on market $124,500 Active 115 DOM
13. 2026-06-02
    days on market $124,500 Active 114 DOM
14. 2026-06-01
    days on market $124,500 Active 113 DOM
15. 2026-05-31
    days on market $124,500 Active 112 DOM
16. 2026-03-22
    price $124,500
17. 2026-02-06
    listed $130,000 Active
18. 2022-10-18
    soldstatus $62,000
19. 2022-10-17
    soldstatus $62,000 Closed 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

20. 2022-09-27
    status Pending 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

21. 2022-09-15
    price $68,900 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

22. 2022-09-07
    price $77,900 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

23. 2022-09-02
    price $78,500 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

24. 2022-08-25
    price $82,300 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

25. 2022-08-24
    price $82,500 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

26. 2022-08-19
    price $87,621 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

27. 2022-08-03
    price $91,900 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

28. 2022-07-28
    listed $94,000 Active 331-char remark

    Show marketing remark (331 chars)

    HUGE PRICE REDUCTION!!!MOTIVATED SELLERS. 3 bedroom 2 bath freshly painted inside and outside. Large living room flowing into dining room. Spacious kitchen with lots of cabinets and counter space. Covered front porch. Home has been rental since 2008 with only 2 sets of renters and no lapse in time. Great investment property.

29. 2013-01-06
    historical
30. 2012-04-07
    listed $45,500
31. 2010-08-17
    historical
32. 2010-02-16
    listed $39,900
33. 2010-02-15
    historical
34. 2009-11-23
    listed $49,500
35. 2008-05-20
    soldstatus $44,500
36. 1998-01-09
    soldstatus $110,000

ⓘ 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: $735 · $61/mo
• Projected year-2 tax: $1,064 · $89/mo
• Expected delta: +$329/yr (+$27/mo · 44.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $16,044
• − Mortgage interest: −$6,625
• − Property taxes: −$735
• − Insurance: −$591
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$3,441
• Taxable income: $2,085
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $3,405/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: El Reno
• NCES district ID: 4010650
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $44,689
• Composite: 12.01/100
• National rank: #9664
• State rank: #232 of 270 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

• Census place: El Reno, OK
• 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

+13.2% since first listed

21 events — show timeline

• 2026-03-22 Price Changed $124,500 MLSOK
• 2026-02-06 Listed $130,000 MLSOK
• 2022-10-18 Sold (Public Records) $62,000 Public Records
• 2022-10-17 Sold (MLS) $62,000 MLSOK
• 2022-09-27 Pending — MLSOK
• 2022-09-15 Price Changed $68,900 MLSOK
• 2022-09-07 Price Changed $77,900 MLSOK
• 2022-09-02 Price Changed $78,500 MLSOK
• 2022-08-25 Price Changed $82,300 MLSOK
• 2022-08-24 Price Changed $82,500 MLSOK
• 2022-08-19 Price Changed $87,621 MLSOK
• 2022-08-03 Price Changed $91,900 MLSOK
• 2022-07-28 Listed $94,000 MLSOK
• 2013-01-06 Listing Removed — MLSOK
• 2012-04-07 Listed $45,500 MLSOK
• 2010-08-17 Listing Removed — MLSOK
• 2010-02-16 Listed $39,900 MLSOK
• 2010-02-15 Listing Removed — MLSOK
• 2009-11-23 Listed $49,500 MLSOK
• 2008-05-20 Sold (Public Records) $44,500 Public Records
• 1998-01-09 Sold (Public Records) $110,000 Public Records

Property tax history

+8.5%/yr

Latest (2025): $735 · -0.8% YoY. Source: county tax records.