238 S Oklahoma Ave · Shawnee, OK 74801

$135,000

4 bd · 2.0 ba · 1,696 sqft · SingleFamily public records · 199 Days on market

Built 1940 7,000 sqft lot Est $146k · 7% under

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Why this score? — see what drove the C- 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 +19.4/30.0
• ARV discount +10.8/15.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

This real estate parcel contains two buildings: 236 S Oklahoma (a stand alone 1 bedroom unit) and 238 S Oklahoma (a three unit building) for a total of four (4) units. Both buildings are represented on the same tax parcel and are being sold together. Seller will not divide. 236 S Oklahoma Avenue has Central Heat & Air. 238 S Oklahoma Avenue consists of three (3) rentable units, each having wall heaters and window A/C units. When fully rented the rental revenue is $1,995. Buyer to verify all information.

Key facts

• Updated units
• Modern upgrades
• Granite countertops

Tags

• INCOME-PRODUCING QUADPLEX
• UPDATED UNITS
• MODERN UPGRADES
• GRANITE COUNTERTOPS
• FLEXIBLE CONFIGURATION
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Manual geocode; Directions: From Main Street, go south on Oklahoma to property; located on the west side of the street.; Not historically designated
• Financial info: Operating as a multi-unit property with 4 total units (4 efficiency units)
• HOA & community: No mandatory association dues

Exterior

• Home design: Fourplex residential income property; Multi-level property; Existing condition
• Construction: Frame construction; Composition roof; Conventional foundation
• Exterior features: Zero lot line

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 4 full bathrooms
• Interior features: Occupied

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (4.6% below list).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.9% in Shawnee — 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 63/100 on livability (#217 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Shawnee (town): math 11% / reading 17% proficiency, ranked #238 of 270 in OK (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Horace Mann Es (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 225 students, 0% FRL); Shawnee Hs (math 16% / reading 35%, grade F, #142 of 447 statewide, top 32%, 987 students, 0% FRL) — zoned schools average 0% FRL vs 70% district-wide (70 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.8%/yr); 192 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 183 units permitted in Pottawatomie County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pottawatomie 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 199 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 15y ago; this cycle's ask is 14900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $90k; list at $135k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 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 1940 — 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: 0.95% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $145,856
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 N Harrison Ave	0.48mi	5/2.0 (+1)	1,747 (+3%)	2mo	$150,000	$86	66
220 N Mckinley Ave	0.43mi	4/1.5	1,762 (+4%)	19mo	$134,000	$76	56
522 E Market Ave	0.75mi	4/2.0	1,603 (-6%)	2mo	$95,000	$59	54
220 N Market Ave	0.56mi	3/2.0 (-1)	1,752 (+3%)	12mo	$155,000	$88	54
514 N Beard Ave	0.69mi	4/2.0	1,918 (+13%)	1mo	$26,000	$14	45
323 N Philadelphia Ave	0.43mi	4/1.5	1,501 (-12%)	21mo	$152,400	$102	41
522 S Park Ave	0.54mi	4/2.0	1,519 (-10%)	20mo	$160,000	$105	40
311 N Mckinley Ave	0.50mi	4/2.0	1,890 (+11%)	23mo	$170,000	$90	38
222 W Highland St	0.74mi	3/2.0 (-1)	1,464 (-14%)	2mo	$106,000	$72	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 · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-12,461
• Equity at exit: $20,129

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $559
• Equity at exit: $11,672

Cash invested: $37,800 (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 74801

• Home prices YoY: -1.7%
• Rents YoY: 2.8%
• Active inventory: 192
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,288 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$101 /mo · $1,217/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $152

Break-even live

Break-even rent $1,096

Max offer price $135,000

Occupancy floor 83%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 S Center Ave Shawnee, OK	3.0	2.0	1243	$1,245	$1.00	4d	1	0.22mi
515 W 10th St Shawnee, OK	3.0	1.0	1131	$825	$0.73	20d	1	0.74mi
315 S Kennedy Ave Shawnee, OK	2.0–3.0	1.0–2.0	979	$898	$0.92	23d	5	1.03mi

Listing history 35 events

1. 2026-06-19
   days on market $135,000 Active 199 DOM
2. 2026-06-18
   days on market $135,000 Active 198 DOM
3. 2026-06-17
   days on market $135,000 Active 197 DOM
4. 2026-06-16
   days on market $135,000 Active 196 DOM
5. 2026-06-15
   days on market $135,000 Active 195 DOM
6. 2026-06-14
   days on market $135,000 Active 193 DOM
7. 2026-06-12
   days on market $135,000 Active 192 DOM
8. 2026-06-09
   days on market $135,000 Active 189 DOM
9. 2026-06-08
   days on market $135,000 Active 188 DOM
10. 2026-06-07
    days on market $135,000 Active 187 DOM
11. 2026-06-05
    days on market $135,000 Active 184 DOM
12. 2026-06-02
    days on market $135,000 Active 182 DOM
13. 2026-06-01
    pricedays on market $135,000 Active 181 DOM
14. 2026-05-31
    days on market $140,000 Active 180 DOM
15. 2026-05-30
    remarks 687-char remark
16. 2026-05-30
    pricedays on market $140,000 Active 179 DOM
17. 2026-05-22
    listed $900
18. 2026-05-04
    price $145,000
19. 2025-12-29
    historical $850
20. 2025-12-28
    price $148,000
21. 2025-12-04
    status Active
22. 2025-11-28
    listed $850
23. 2025-11-11
    status Active
24. 2025-10-08
    listed $150,000 Active
25. 2024-10-17
    historical $850
26. 2024-09-28
    listed $850
27. 2024-09-12
    historical $850
28. 2024-08-12
    listed $850
29. 2022-03-16
    soldstatus $90,000
30. 2022-03-14
    soldstatus $90,000 Sold 517-char remark

    Show marketing remark (517 chars)

    This real estate parcel contains two buildings: 236 S Oklahoma (a stand alone 1 bedroom unit) and 238 S Oklahoma (a three unit building) for a total of four (4) units. Both buildings are represented on the same tax parcel and are being sold together. Seller will not divide. 236 S Oklahoma Avenue has Central Heat & Air. 238 S Oklahoma Avenue consists of three (3) rentable units, each having wall heaters and window A/C units. When fully rented the rental revenue is $1,995. Buyer to verify all information.

31. 2022-01-18
    status Pending 517-char remark

    Show marketing remark (517 chars)

    This real estate parcel contains two buildings: 236 S Oklahoma (a stand alone 1 bedroom unit) and 238 S Oklahoma (a three unit building) for a total of four (4) units. Both buildings are represented on the same tax parcel and are being sold together. Seller will not divide. 236 S Oklahoma Avenue has Central Heat & Air. 238 S Oklahoma Avenue consists of three (3) rentable units, each having wall heaters and window A/C units. When fully rented the rental revenue is $1,995. Buyer to verify all information.

32. 2022-01-16
    listed $90,000 Active 517-char remark

    Show marketing remark (517 chars)

    This real estate parcel contains two buildings: 236 S Oklahoma (a stand alone 1 bedroom unit) and 238 S Oklahoma (a three unit building) for a total of four (4) units. Both buildings are represented on the same tax parcel and are being sold together. Seller will not divide. 236 S Oklahoma Avenue has Central Heat & Air. 238 S Oklahoma Avenue consists of three (3) rentable units, each having wall heaters and window A/C units. When fully rented the rental revenue is $1,995. Buyer to verify all information.

33. 2011-10-14
    historical
34. 2011-04-13
    listed $58,000
35. 2005-10-12
    soldstatus $63,000

ⓘ 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: $1,217 · $101/mo
• Projected year-2 tax: $1,217 · $101/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,455
• − Mortgage interest: −$7,562
• − Property taxes: −$1,217
• − Insurance: −$675
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$3,927
• Taxable loss: −$399
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $1,918/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: Shawnee
• NCES district ID: 4027570
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 17% ▼ -10.00%
• Median HH income: $32,128
• Composite: 11.21/100
• National rank: #9724
• State rank: #238 of 270 in OK

Livability — Shawnee

• Score: 63/100
• State rank: #217
• US rank: #15593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shawnee, OK
• County: Pottawatomie County · 45,194 people
• City population: 45,194
• Metro: Shawnee, OK
• Population (ZIP): 21,967
• Household income: $55,077
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 594.0

Population outlook (Pottawatomie County) Hauer SSP2

• Today (2025): 76,622 people
• By 2030: 78,816 · +2.9%
• By 2040: 82,766 · +8.0%
• By 2050: 86,031 · +12.3%
• By 2075: 93,316 · +21.8%
• By 2100: 95,820 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Native American 15% Two or more races 10% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Pottawatomie

• 2024 margin: Solid R (+47.4) · D 25.2% · R 72.7% · Other 2.1%
• 2008→2024 swing: -9.1pp toward R · 2008: -38.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.0 2016: R+46.5 2012: R+38.7 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.66%
• Current HPI: 266.7965
• Rent YoY: ▲ 2.82%
• Metro: Shawnee, 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

+130.2% since first listed

19 events — show timeline

• 2026-05-22 Listed for Rent $900 TURBOTENANT
• 2026-05-04 Price Changed $145,000 MLSOK
• 2025-12-29 Rental Removed $850 TURBOTENANT
• 2025-12-28 Price Changed $148,000 MLSOK
• 2025-12-04 Relisted — MLSOK
• 2025-11-28 Listed for Rent $850 TURBOTENANT
• 2025-11-11 Relisted — MLSOK
• 2025-10-08 Listed $150,000 MLSOK
• 2024-10-17 Rental Removed $850 TURBOTENANT
• 2024-09-28 Listed for Rent $850 TURBOTENANT
• 2024-09-12 Rental Removed $850 TURBOTENANT
• 2024-08-12 Listed for Rent $850 TURBOTENANT
• 2022-03-16 Sold (Public Records) $90,000 Public Records
• 2022-03-14 Sold (MLS) $90,000 MLSOK
• 2022-01-18 Pending — MLSOK
• 2022-01-16 Listed $90,000 MLSOK
• 2011-10-14 Listing Removed — MLSOK
• 2011-04-13 Listed $58,000 MLSOK
• 2005-10-12 Sold (Public Records) $63,000 Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,217 · +4.2% YoY. Source: county tax records.