600 W 15th St · Ada, OK 74820

$99,900

3 bd · 1.0 ba · 1,135 sqft · SingleFamily public records · 27 Days on market

Built 1920 6,548 sqft lot Est $148k · 32% under ↓ 10% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.9/10.0
• Rent growth +3.7/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

BACK ON THE MARKET – NOW WITH MAJOR REPAIRS UNDERWAY! This 2-bedroom, 1-bath home is getting a fresh start with substantial improvements being completed by the seller. If you missed it the first time, now is your chance! UNDER $100K AND PACKED WITH CHARM! Well-maintained 2-bedroom, 1-bath home full of character and functionality! Featuring 1,279± sqft (AP), this home offers plenty of space with generously sized bedrooms, a roomy laundry area, and a large walk-in closet. The Jack-and-Jill bathroom, conveniently situated between the two bedrooms, creates a practical yet private layout. Built in 1920, this home blends character with important updates, including all-new ceili

Key facts

• Shed for storage
• 1-year-old roof
• Newer water heater

Tags

• CHAIN-LINK FENCED FRONT YARD
• PRIVACY-FENCED BACKYARD
• JACK-AND-JILL BATHROOM
• NEWER WATER HEATER
• 1-YEAR-OLD ROOF
• SHED FOR STORAGE

Property features AI

Finance

• HOA & community: Sidewalks

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; South-facing; Crawlspace foundation; Vinyl siding; Wood frame construction; Asphalt fiberglass roof
• Construction: Built according to public records
• Exterior features: Covered porch; Shed(s); Chain link and privacy fencing; Corner lot

Interior

• Kitchen: Gas range; Oven
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric and gas); Central air conditioning
• Interior features: Ceiling fan(s); Laminate counters; Programmable thermostat; Gas range connection; Gas oven connection; Insulated vinyl windows; Other interior features
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.0% in Ada — 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 70/100 on livability (#41 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, employment D, crime D-.
• Ada (town): math 17% / reading 23% proficiency, ranked #177 of 270 in OK (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.8%/yr); 305 active listings in the ZIP; 2 units permitted in Pontotoc County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Pontotoc County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.05%
• DSCR: 1.62
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $147,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 S Hickory	0.21mi	2/1.0 (-1)	1,100 (-3%)	3mo	$51,500	$47	78
704 W 21st St	0.45mi	3/1.0	1,139 (+0%)	2mo	$152,000	$133	77
912 W 13th St	0.33mi	3/1.0	1,080 (-5%)	1mo	$150,000	$139	76
812 S Johnston St	0.29mi	3/2.0	1,173 (+3%)	3mo	$165,000	$141	75
716 W 12th St	0.25mi	2/1.0 (-1)	1,189 (+5%)	1mo	$124,000	$104	74
516 W 7th St	0.59mi	2/1.0 (-1)	1,184 (+4%)	3mo	$52,500	$44	58
419 W 5th	0.71mi	3/1.0	1,056 (-7%)	1mo	$6,000	$6	55
914 Charles Dr	0.69mi	3/1.0	1,047 (-8%)	1mo	$100,000	$96	54
1209 S Ash Ave	0.56mi	3/1.0	996 (-12%)	2mo	$129,500	$130	52
620 W 23rd	0.58mi	3/1.0	1,002 (-12%)	2mo	$143,000	$143	51
418 W 6th St	0.67mi	2/1.0 (-1)	1,012 (-11%)	1mo	$132,000	$130	45
319 E 13th St	0.72mi	3/1.0	1,284 (+13%)	1mo	$138,000	$107	44

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 · 4.83% rent growth · sell at horizon

5-year hold

• IRR: 6.2%
• Equity multiple: 1.25×
• Total profit: $6,871
• Equity at exit: $14,895

10-year hold

• IRR: 17.0%
• Equity multiple: 2.51×
• Total profit: $42,237
• Equity at exit: $8,638

Cash invested: $27,972 (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 74820

• Home prices YoY: -11.5%
• Rents YoY: 4.8%
• Active inventory: 305
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,192 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$49 /mo · $583/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $327

Break-even live

Break-even rent $777

Max offer price $99,900

Occupancy floor 68%

Sensitivity live

Price	-10% $384	-5% $356	+0% $327	+5% $299	+10% $271
Rent	-10% $233	-5% $280	+0% $327	+5% $375	+10% $422
Rate	-1.0pp $378	-0.5pp $353	base $327	+0.5pp $302	+1.0pp $275

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-09
   status $99,900 Pending 27 DOM
2. 2026-06-08
   days on market $99,900 Active 27 DOM
3. 2026-06-07
   days on market $99,900 Active 26 DOM
4. 2026-06-05
   remarks 686-char remark
5. 2026-06-05
   pricestatusdays on market $99,900 Active 23 DOM
6. 2026-05-20
   status Pending
7. 2026-05-11
   price $89,900
8. 2026-05-05
   price $95,000
9. 2026-04-28
   listed $99,900 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: $583 · $49/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$316/yr (+$26/mo · 54.2%)

ⓘ 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 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $14,302
• − Mortgage interest: −$5,596
• − Property taxes: −$583
• − Insurance: −$500
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$2,906
• Taxable income: $2,429
• Est. tax owed @ 24.0%: −$583
• After-tax cash flow: $3,346/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: Ada
• NCES district ID: 4002430
• Math proficiency: 17% ▼ -11.00%
• Reading proficiency: 23% ▼ -8.00%
• Median HH income: $33,907
• Composite: 16.36/100
• National rank: #9203
• State rank: #177 of 270 in OK

Livability — Ada

• Score: 70/100
• State rank: #41
• US rank: #7835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ada, OK
• County: Pontotoc County · 31,943 people
• City population: 31,943
• Metro: Ada, OK
• Population (ZIP): 31,943
• Household income: $62,357
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 774.0

Population outlook (Pontotoc County) Hauer SSP2

• Today (2025): 39,521 people
• By 2030: 40,140 · +1.6%
• By 2040: 41,242 · +4.4%
• By 2050: 42,293 · +7.0%
• By 2075: 44,678 · +13.0%
• By 2100: 46,015 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 62% Native American 19% Two or more races 13% Hispanic / Latino 7% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Pontotoc

• 2024 margin: Solid R (+46.6) · D 25.7% · R 72.3% · Other 2.1%
• 2008→2024 swing: -9.9pp toward R · 2008: -36.7pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+43.7 2016: R+45.8 2012: R+38.8 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.45%
• Current HPI: 250.7685
• Rent YoY: ▲ 4.83%
• Metro: Ada, 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

-10.0% since first listed

4 events — show timeline

• 2026-05-20 Pending — MLS Technology, Inc.
• 2026-05-11 Price Changed $89,900 MLS Technology, Inc.
• 2026-05-05 Price Changed $95,000 MLS Technology, Inc.
• 2026-04-28 Listed $99,900 MLS Technology, Inc.

Property tax history

+5.8%/yr

Latest (2025): $583 · +2.3% YoY. Source: county tax records.