229 N Arapahoe Ave · Geary, OK 73040

$44,900

4 bd · 2.0 ba · 1,923 sqft · SingleFamily public records · 286 Days on market

Built 1948 0.65 ac lot ↓ 57% since listing

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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 +7.6/10.0
• ARV discount +7.5/15.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

Investor special - 4 bedroom home with tons of potential! Don't miss this spacious 4 bedroom, 1 bathroom home with room to grow! This property features a large master bedroom on the first floor, a nice sized living room and a functional kitchen. A beautiful wood staircase leads to the second floor, where you will find three additional bedrooms and a full bathroom. There's space to add a second bathroom. While the home needs some TLC, it offers great opportunity for investors, flippers or handy buyers looking to build equity.

Key facts

• 0.65 acre lot
• Built 1948
• Listed 286 days

Property features AI

Finance

• Other: Located in the Geary City addition
• Financial info: Listing offered as-is; cash terms accepted; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One and one-half story; Existing property
• Construction: Composition roof (replaced/installed 2020); Other construction materials; Combination foundation
• Exterior features: Outbuildings; Corner lot

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central gas heating; Window air conditioning units
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 51/100 on livability (#652 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Geary (rural): math 25% / reading 15% proficiency, ranked #405 of 513 in OK (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Geary Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 122 students, 0% FRL); Geary Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 75 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 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 $3k of equity ($310 loan paydown + $2k appreciation (5.2% local appreciation)).
• Blaine County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 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 1948 — 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. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 3.01% ✓
• Cap rate: 27.28%
• Cash-on-cash: 74.94%
• DSCR: 4.33
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $169,224
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 S Galena Ave	0.46mi	3/1.0 (-1)	1,988 (+3%)	18mo	$175,000	$88	49
711 Wright Ln	0.52mi	3/2.0 (-1)	1,794 (-7%)	20mo	$367,000	$205	43
717 N Elm Ave	0.34mi	3/2.0 (-1)	1,660 (-14%)	22mo	$75,000	$45	38
420 S Galena Ave	0.43mi	3/1.5 (-1)	2,122 (+10%)	22mo	$58,000	$27	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 81.3%
• Equity multiple: 5.85×
• Total profit: $60,973
• Equity at exit: $26,101

10-year hold

• IRR: 79.2%
• Equity multiple: 12.20×
• Total profit: $140,823
• Equity at exit: $45,598

Cash invested: $12,572 (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 73040

• Home prices YoY: 3.1%
• Active inventory: 3
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,351 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $785

Break-even live

Break-even rent $357

Max offer price $44,900

Occupancy floor 37%

Sensitivity live

Price	-10% $811	-5% $798	+0% $785	+5% $772	+10% $760
Rent	-10% $678	-5% $732	+0% $785	+5% $838	+10% $892
Rate	-1.0pp $808	-0.5pp $797	base $785	+0.5pp $773	+1.0pp $762

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $44,900 Active 286 DOM
2. 2026-06-21
   days on market $44,900 Active 285 DOM
3. 2026-06-18
   days on market $44,900 Active 283 DOM
4. 2026-06-17
   days on market $44,900 Active 282 DOM
5. 2026-06-16
   days on market $44,900 Active 281 DOM
6. 2026-06-15
   days on market $44,900 Active 280 DOM
7. 2026-06-13
   days on market $44,900 Active 278 DOM
8. 2026-06-12
   days on market $44,900 Active 277 DOM
9. 2026-06-09
   days on market $44,900 Active 274 DOM
10. 2026-06-08
    days on market $44,900 Active 273 DOM
11. 2026-06-08
    days on market $44,900 Active 272 DOM
12. 2026-06-05
    days on market $44,900 Active 270 DOM
13. 2026-06-04
    days on market $44,900 Active 268 DOM
14. 2026-06-02
    days on market $44,900 Active 267 DOM
15. 2026-06-01
    days on market $44,900 Active 266 DOM
16. 2026-05-31
    days on market $44,900 Active 265 DOM
17. 2026-05-01
    price $44,900
18. 2025-12-08
    price $54,900
19. 2025-09-14
    status Active
20. 2025-09-02
    status Pending
21. 2025-08-27
    listed $59,900 Active
22. 2025-06-28
    historical
23. 2025-03-26
    price $65,000
24. 2024-11-18
    price $85,000
25. 2024-08-04
    price $90,000
26. 2024-06-28
    listed $105,000 Active

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $404 · $34/mo
• Expected delta: +$70/yr (+$6/mo · 21.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 6 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,209
• − Mortgage interest: −$2,515
• − Property taxes: −$334
• − Insurance: −$224
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$1,306
• Taxable income: $9,236
• Est. tax owed @ 24.0%: −$2,217
• After-tax cash flow: $7,205/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: Geary
• NCES district ID: 4012570
• Math proficiency: 25% ▬ 0.00%
• Reading proficiency: 15% ▲ 5.00%
• Median HH income: $41,156
• Composite: 20.33/100
• National rank: #13811
• State rank: #405 of 513 in OK

Livability — Geary

• Score: 51/100
• State rank: #652
• US rank: #25185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Geary, OK
• Population (ZIP): 1,334

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 66% Native American 14% Two or more races 12% Hispanic / Latino 9% Black 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 3% Lithuanian 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 6%

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: ▲ 5.24%
• Current HPI: 176.386
• 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

-57.2% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $44,900 MLSOK
• 2025-12-08 Price Changed $54,900 MLSOK
• 2025-09-14 Relisted — MLSOK
• 2025-09-02 Pending — MLSOK
• 2025-08-27 Listed $59,900 MLSOK
• 2025-06-28 Listing Removed — MLSOK
• 2025-03-26 Price Changed $65,000 MLSOK
• 2024-11-18 Price Changed $85,000 MLSOK
• 2024-08-04 Price Changed $90,000 MLSOK
• 2024-06-28 Listed $105,000 MLSOK

Property tax history

+53.2%/yr

Latest (2025): $334 · -5.9% YoY. Source: county tax records.