416784 Delaware Dr · Checotah, OK 74426

$45,900

1 bd · 1.0 ba · 900 sqft · Other · 213 Days on market

Built 2022 8,716 sqft lot $31/mo HOA · 4% of rent

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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 +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

A one-bedroom, two-story cabin located near Eufaula Lake, spanning three lots in Oak Wood Harbor. The property includes a small storage shed and a fire pit. The water trailer remains with the property. Owner is willing to finance with 25% down

Key facts

• Near eufaula lake
• Three lots
• Two-story cabin

Tags

• TWO-STORY CABIN
• NEAR EUFAULA LAKE
• THREE LOTS
• SMALL STORAGE SHED
• FIRE PIT

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with an annual fee of $375; Association provides laundry amenity

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Sewer not available
• Home design: 2-story property; Faces north; Crawlspace entry level
• Construction: Block construction; Vinyl siding; Wood siding; Metal roof; Crawlspace and permanent foundation; Year built reported by owner
• Exterior features: Fire pit; Chain link fencing; Mature trees on the lot; Additional land available

Interior

• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Interior features: Aluminum window frames; Laminate counters; No additional interior features listed
• Laundry & utility: Laundry available through association

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $46k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($823 rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.3% vs local median 3.7% in Checotah — 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 60/100 on livability (#328 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.
• Checotah (town): math 32% / reading 28% proficiency, ranked #72 of 270 in OK (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 151 active listings in the ZIP; 20 units permitted in McIntosh County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($317 loan paydown + $5k appreciation (10.0% local appreciation)).
• McIntosh County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $5k; list at $46k implies a 818% gain — meaningful room to come down on a strong offer.

Recommended offer $40,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 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. 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: 1.79% ✓
• Cap rate: 15.31%
• Cash-on-cash: 32.21%
• DSCR: 2.43
• GRM: 4.6

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: 48.9%
• Equity multiple: 4.66×
• Total profit: $46,975
• Equity at exit: $41,350

10-year hold

• IRR: 42.6%
• Equity multiple: 10.42×
• Total profit: $121,066
• Equity at exit: $89,174

Cash invested: $12,852 (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 74426

• Home prices YoY: 5.3%
• Active inventory: 151
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $823 medium
• Mortgage (P&I): −$241
• Tax from tax record: −$14 /mo · $173/yr
• Insurance: −$19
• HOA: −$31
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $345

Break-even live

Break-even rent $386

Max offer price $45,900

Occupancy floor 53%

Sensitivity live

Price	-10% $371	-5% $358	+0% $345	+5% $332	+10% $319
Rent	-10% $280	-5% $312	+0% $345	+5% $377	+10% $410
Rate	-1.0pp $368	-0.5pp $357	base $345	+0.5pp $333	+1.0pp $321

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $31 · $372/yr
• Likely covers: water

Listing history 24 events

1. 2026-06-21
   days on market $45,900 Active 213 DOM
2. 2026-06-18
   days on market $45,900 Active 211 DOM
3. 2026-06-17
   days on market $45,900 Active 210 DOM
4. 2026-06-16
   days on market $45,900 Active 209 DOM
5. 2026-06-15
   days on market $45,900 Active 208 DOM
6. 2026-06-13
   days on market $45,900 Active 206 DOM
7. 2026-06-12
   days on market $45,900 Active 205 DOM
8. 2026-06-09
   days on market $45,900 Active 202 DOM
9. 2026-06-08
   days on market $45,900 Active 201 DOM
10. 2026-06-08
    days on market $45,900 Active 200 DOM
11. 2026-06-07
    days on market $45,900 Active 199 DOM
12. 2026-06-04
    days on market $45,900 Active 196 DOM
13. 2026-06-02
    days on market $45,900 Active 195 DOM
14. 2026-06-01
    days on market $45,900 Active 194 DOM
15. 2026-05-31
    days on market $45,900 Active 193 DOM
16. 2025-11-19
    listed $45,900 Active
17. 2025-10-08
    historical
18. 2025-08-12
    price $45,900
19. 2025-06-13
    price $47,000
20. 2025-04-03
    price $52,000
21. 2025-03-29
    price $55,000
22. 2025-01-11
    price $60,000
23. 2024-10-08
    listed $65,000 Active
24. 1992-04-27
    soldstatus $5,000

ⓘ 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: $173 · $14/mo
• Projected year-2 tax: $413 · $34/mo
• Expected delta: +$240/yr (+$20/mo · 138.8%)

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

Taxation est. · year 1

• Rental income: $9,877
• − Mortgage interest: −$2,571
• − Property taxes: −$173
• − Insurance: −$230
• − Repairs & maintenance: −$790
• − Management: −$790
• − HOA: −$372
• − Depreciation: −$1,335
• Taxable income: $3,616
• Est. tax owed @ 24.0%: −$868
• After-tax cash flow: $3,272/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: Checotah
• NCES district ID: 4007350
• Math proficiency: 32% ▼ -7.00%
• Reading proficiency: 28% ▼ -2.00%
• Median HH income: $34,331
• Composite: 24.73/100
• National rank: #7607
• State rank: #72 of 270 in OK

Livability — Checotah

• Score: 60/100
• State rank: #328
• US rank: #18495

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

• Population (ZIP): 9,482

Population outlook (McIntosh County) Hauer SSP2

• Today (2025): 18,935 people
• By 2030: 18,272 · -3.5%
• By 2040: 16,905 · -10.7%
• By 2050: 15,771 · -16.7%
• By 2075: 14,097 · -25.6%
• By 2100: 12,572 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 62% Native American 18% Two or more races 13% Hispanic / Latino 5% Black 3% Asian 2%
• Common ancestry: Iranian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · German/W. Germanic 2% Other Indo-European 1% Spanish 1%

Political lean MEDSL · McIntosh

• 2024 margin: Solid R (+52.7) · D 22.9% · R 75.7% · Other 1.4%
• 2008→2024 swing: -33.5pp toward R · 2008: -19.3pp · 2024: -52.7pp
• All cycles: 2024: R+52.7 2020: R+49.7 2016: R+42.5 2012: R+23.8 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.32%
• Current HPI: 325.0751
• 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

+818.0% since first listed

9 events — show timeline

• 2025-11-19 Listed $45,900 MLS Technology, Inc.
• 2025-10-08 Listing Removed — MLS Technology, Inc.
• 2025-08-12 Price Changed $45,900 MLS Technology, Inc.
• 2025-06-13 Price Changed $47,000 MLS Technology, Inc.
• 2025-04-03 Price Changed $52,000 MLS Technology, Inc.
• 2025-03-29 Price Changed $55,000 MLS Technology, Inc.
• 2025-01-11 Price Changed $60,000 MLS Technology, Inc.
• 2024-10-08 Listed $65,000 MLS Technology, Inc.
• 1992-04-27 Sold (Public Records) $5,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $173 · +8.1% YoY. Source: county tax records.