16046 SE 23rd St · Choctaw, OK 73020

$189,900

3 bd · 2.0 ba · 1,644 sqft · SingleFamily public records · 1 Days on market

Built 1963 4.18 ac lot Est $288k · 34% 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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This ranch-style home is nestled on a wooded 4.18-acre lot in Choctaw, offering a private and peaceful rural setting with limitless potential. Ready for your custom cosmetic updates, the critical infrastructure has already been taken care of, including a brand-new HVAC system, a new hot water heater, and a newly installed water pressure tank. The property features a functional floor plan with an attached garage, alongside several detached outbuildings that are perfect for extra storage, a workshop, or hobby spaces. Located just a short drive from the conveniences of town while offering the space and freedom of true acreage living. Reach out today to schedule your private tour!

Key facts

• Wooded lot
• Attached garage
• New hot water heater

Tags

• WOODED LOT
• PRIVATE SETTING
• NEW HVAC SYSTEM
• NEW HOT WATER HEATER
• FUNCTIONAL FLOOR PLAN
• ATTACHED GARAGE

Property features AI

Finance

• Other: Homestead exempt; Located in Sandwood Acres; Property is existing (not new construction); Directions: On the corner of S Indian Meridian Rd and SE 23rd St
• Financial info: Loan qualification possible; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 3-car garage
• Home design: Single family residence; Single-story (one level); Residential property
• Construction: Brick and frame construction; Composition roof; Slab foundation
• Exterior features: Covered patio; Outbuildings; Wooded lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: One living area; One dining area; Masonry fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/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 $189k (0.5% below list).
• Recommended offer: $189k (0.5% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.1% in Choctaw — 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 71/100 on livability (#31 in OK) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Choctaw-Nicoma Park (suburban): math 28% / reading 32% proficiency, ranked #48 of 270 in OK (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Choctaw Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 349 students, 0% FRL); Choctaw Hs (math 26% / reading 37%, grade F, #73 of 447 statewide, top 16%, 1,811 students, 0% FRL) — zoned schools average 0% FRL vs 34% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 326 active listings in the ZIP; solid renter incomes; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $188,960 (0.5% below list)

Questions for the listing agent

1. Built in 1963 — 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. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.86%
• DSCR: 1.22
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $287,700
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2750 S Indian Meridian Rd	0.20mi	3/2.0	1,717 (+4%)	7mo	$299,900	$175	78
16216 SE 26th St	0.24mi	4/1.0 (+1)	1,482 (-10%)	1mo	$196,300	$132	62
2742 S Sandwood Ave	0.28mi	3/1.5	1,404 (-15%)	3mo	$180,000	$128	58
15855 Leslie Rd	0.30mi	2/1.0 (-1)	1,500 (-9%)	11mo	$325,000	$217	53
2151 Orchard Rd	0.68mi	3/2.0	1,628 (-1%)	18mo	$311,035	$191	51
15675 Patricia Pl	0.60mi	3/3.0	1,742 (+6%)	10mo	$310,000	$178	50
2533 Moran Rd	0.60mi	2/2.0 (-1)	1,413 (-14%)	2mo	$239,900	$170	42
2115 Moran Rd	0.67mi	3/2.0	1,806 (+10%)	16mo	$315,000	$174	39
2643 Greystone Ln	0.56mi	4/2.0 (+1)	1,839 (+12%)	15mo	$300,000	$163	37
16693 SE 27th St	0.70mi	4/1.5 (+1)	1,468 (-11%)	10mo	$274,900	$187	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-17,051
• Equity at exit: $28,315

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $2,839
• Equity at exit: $16,419

Cash invested: $53,172 (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 73020

• Active inventory: 326
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,890 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$202 /mo · $2,430/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $215

Break-even live

Break-even rent $1,617

Max offer price $189,900

Occupancy floor 84%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 685-char remark
2. 2026-06-19
   listed $189,900 Active 1 DOM

ⓘ 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: $2,430 · $202/mo
• Projected year-2 tax: $2,430 · $202/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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $22,675
• − Mortgage interest: −$10,637
• − Property taxes: −$2,430
• − Insurance: −$950
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$5,524
• Taxable loss: −$494
• Est. tax savings @ 24.0%: +$119
• After-tax cash flow: $2,702/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: Choctaw-Nicoma Park
• NCES district ID: 4007620
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 32% ▼ -12.00%
• Median HH income: $69,072
• Composite: 28.02/100
• National rank: #6847
• State rank: #48 of 270 in OK

Livability — Choctaw

• Score: 71/100
• State rank: #31
• US rank: #6853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Choctaw, OK
• County: Oklahoma County · 771,644 people
• City population: 25,645
• Metro: Oklahoma City, OK
• Population (ZIP): 25,645
• Household income: $104,601
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 258.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 8% Hispanic / Latino 6% Black 5% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.61%
• Current HPI: 240.9989
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-18 Listed $189,900 MLSOK

Property tax history

+3.6%/yr

Latest (2025): $2,430 · +5.8% YoY. Source: county tax records.