304 NW 2nd St · Piedmont, OK 73078

$189,000

2 bd · 1.0 ba · 1,450 sqft · SingleFamily public records · 66 Days on market

Built 1950 0.38 ac lot Est $249k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable home in the heart of Piedmont original Town! Located on a corner lot with 7 lots, there is plenty of room for any activity you enjoy! The land could be divided into two properties. The home has 2 beds and 1 bath plus a huge open living area which opens onto the back covered patio. The back yard has a new chain link fence with black privacy screening. 2 car attached garage as well as an attached basement. There are also two additional buildings with electricity which are great for a shop, greenhouse or other hobbies. Current owner has installed a new HVAC system, hot water tank and new flooring in kitchen, dining, open living area. The kitchen has new sink, faucet and dishwasher. New interior and exterior paint, as well as newly remodeled inside laundry closet. Original house built in 1950 had 3 small bedrooms. Garage and second living add in 1962 and 3rd bedroom was incorporated into open living space.

Key facts

• Updated countertops
• Fenced backyard
• 0.38 acre lot

Tags

• FENCED BACKYARD
• ATTACHED TWO-CAR GARAGE
• ALL-NEW ELECTRICAL WIRING
• PLUMBING IMPROVEMENTS
• UPDATED COUNTERTOPS
• FULLY REMODELED BATHROOM

Property features AI

Finance

• Other: Living area recorded as 1,380 (assessor source); Corner-of 2nd St and Madison Ave directions available; Not currently occupied; Open house scheduled
• Financial info: Loan qualification available; Current tax amount listed
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Home design: Single-family residence; One level; Residential property; Located in Piedmont Original Town
• Construction: Frame construction; Composition roof; Combination foundation; Existing property
• Exterior features: Chain link fencing; Corner lot; Below-ground storm shelter

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Two living areas; Dining area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $35 ($419/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 $163k (13.8% below list).
• Recommended offer: $163k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Piedmont — 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 77/100 on livability (#8 in OK, #2,866 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Piedmont (rural): math 37% / reading 39% proficiency, ranked #9 of 270 in OK (top 3%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Piedmont Es (math 52% / reading 37%, grade F, #63 of 845 statewide, top 8%, 458 students, 0% FRL); Piedmont Ms (math 32% / reading 32%, grade F, #39 of 345 statewide, top 12%, 772 students, 0% FRL); Piedmont Hs (math 38% / reading 44%, grade F, #24 of 447 statewide, top 5%, 1,422 students, 0% FRL).
• Market conditions: 496 active listings in the ZIP; solid renter incomes; 260 units permitted in Canadian County in 2024 (0 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.
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $150k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,917 (13.8% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.86% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $249,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Monroe Ave NW	0.09mi	3/2.5 (+1)	1,483 (+2%)	1mo	$245,000	$165	80
409 NW Jefferson Ave	0.20mi	3/2.0 (+1)	1,355 (-7%)	8mo	$235,000	$173	64
601 NW Van Buren Ave	0.38mi	3/2.0 (+1)	1,350 (-7%)	7mo	$227,500	$169	56
868 Phils Way	0.45mi	3/2.0 (+1)	1,398 (-4%)	11mo	$252,500	$181	55
812 NW Phils Way	0.40mi	3/2.0 (+1)	1,367 (-6%)	10mo	$235,000	$172	54
1174 NW Misty Ln	0.63mi	3/2.0 (+1)	1,510 (+4%)	0mo	$254,000	$168	54
924 NW Taylor Ave	0.67mi	3/2.0 (+1)	1,433 (-1%)	10mo	$255,000	$178	49
519 5th St	0.30mi	3/2.0 (+1)	1,608 (+11%)	12mo	$230,000	$143	49
1006 NW Tyler Ave	0.61mi	3/2.0 (+1)	1,415 (-2%)	17mo	$168,500	$119	44
910 NW Taylor Ave	0.65mi	3/2.0 (+1)	1,516 (+5%)	12mo	$250,000	$165	43
1082 Phils Way	0.59mi	3/2.0 (+1)	1,335 (-8%)	15mo	$240,000	$180	38
1214 Carrie Ln	0.69mi	3/2.0 (+1)	1,610 (+11%)	6mo	$300,000	$186	35

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: -15.0%
• Equity multiple: 0.46×
• Total profit: $-28,411
• Equity at exit: $28,181

10-year hold

• IRR: -6.5%
• Equity multiple: 0.59×
• Total profit: $-21,912
• Equity at exit: $16,341

Cash invested: $52,920 (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 73078

• Home prices YoY: -14.2%
• Active inventory: 496
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,629 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$182 /mo · $2,187/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $35

Break-even live

Break-even rent $1,585

Max offer price $189,000

Occupancy floor 93%

Sensitivity live

Price	-10% $142	-5% $88	+0% $35	+5% $-19	+10% $-72
Rent	-10% $-94	-5% $-29	+0% $35	+5% $99	+10% $164
Rate	-1.0pp $130	-0.5pp $83	base $35	+0.5pp $-14	+1.0pp $-64

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   statusdays on market $189,000 Pending 66 DOM
2. 2026-06-18
   days on market $189,000 Active 65 DOM
3. 2026-06-17
   days on market $189,000 Active 64 DOM
4. 2026-06-16
   days on market $189,000 Active 63 DOM
5. 2026-06-15
   days on market $189,000 Active 62 DOM
6. 2026-06-13
   days on market $189,000 Active 60 DOM
7. 2026-06-13
   days on market $189,000 Active 59 DOM
8. 2026-06-09
   days on market $189,000 Active 56 DOM
9. 2026-06-08
   days on market $189,000 Active 55 DOM
10. 2026-06-07
    days on market $189,000 Active 54 DOM
11. 2026-06-03
    days on market $189,000 Active 50 DOM
12. 2026-06-02
    days on market $189,000 Active 49 DOM
13. 2026-06-01
    days on market $189,000 Active 48 DOM
14. 2026-05-31
    days on market $189,000 Active 47 DOM
15. 2026-05-07
    price $189,000
16. 2026-04-14
    listed $198,000 Active
17. 2021-12-21
    soldstatus $150,000 Sold 928-char remark

    Show marketing remark (928 chars)

    Adorable home in the heart of Piedmont original Town! Located on a corner lot with 7 lots, there is plenty of room for any activity you enjoy! The land could be divided into two properties. The home has 2 beds and 1 bath plus a huge open living area which opens onto the back covered patio. The back yard has a new chain link fence with black privacy screening. 2 car attached garage as well as an attached basement. There are also two additional buildings with electricity which are great for a shop, greenhouse or other hobbies. Current owner has installed a new HVAC system, hot water tank and new flooring in kitchen, dining, open living area. The kitchen has new sink, faucet and dishwasher. New interior and exterior paint, as well as newly remodeled inside laundry closet. Original house built in 1950 had 3 small bedrooms. Garage and second living add in 1962 and 3rd bedroom was incorporated into open living space.

18. 2021-11-01
    status Pending 928-char remark

    Show marketing remark (928 chars)

    Adorable home in the heart of Piedmont original Town! Located on a corner lot with 7 lots, there is plenty of room for any activity you enjoy! The land could be divided into two properties. The home has 2 beds and 1 bath plus a huge open living area which opens onto the back covered patio. The back yard has a new chain link fence with black privacy screening. 2 car attached garage as well as an attached basement. There are also two additional buildings with electricity which are great for a shop, greenhouse or other hobbies. Current owner has installed a new HVAC system, hot water tank and new flooring in kitchen, dining, open living area. The kitchen has new sink, faucet and dishwasher. New interior and exterior paint, as well as newly remodeled inside laundry closet. Original house built in 1950 had 3 small bedrooms. Garage and second living add in 1962 and 3rd bedroom was incorporated into open living space.

19. 2021-09-15
    price $174,500 928-char remark

    Show marketing remark (928 chars)

    Adorable home in the heart of Piedmont original Town! Located on a corner lot with 7 lots, there is plenty of room for any activity you enjoy! The land could be divided into two properties. The home has 2 beds and 1 bath plus a huge open living area which opens onto the back covered patio. The back yard has a new chain link fence with black privacy screening. 2 car attached garage as well as an attached basement. There are also two additional buildings with electricity which are great for a shop, greenhouse or other hobbies. Current owner has installed a new HVAC system, hot water tank and new flooring in kitchen, dining, open living area. The kitchen has new sink, faucet and dishwasher. New interior and exterior paint, as well as newly remodeled inside laundry closet. Original house built in 1950 had 3 small bedrooms. Garage and second living add in 1962 and 3rd bedroom was incorporated into open living space.

20. 2021-08-31
    soldstatus $250,000
21. 2021-07-23
    price $189,500 928-char remark

    Show marketing remark (928 chars)

    Adorable home in the heart of Piedmont original Town! Located on a corner lot with 7 lots, there is plenty of room for any activity you enjoy! The land could be divided into two properties. The home has 2 beds and 1 bath plus a huge open living area which opens onto the back covered patio. The back yard has a new chain link fence with black privacy screening. 2 car attached garage as well as an attached basement. There are also two additional buildings with electricity which are great for a shop, greenhouse or other hobbies. Current owner has installed a new HVAC system, hot water tank and new flooring in kitchen, dining, open living area. The kitchen has new sink, faucet and dishwasher. New interior and exterior paint, as well as newly remodeled inside laundry closet. Original house built in 1950 had 3 small bedrooms. Garage and second living add in 1962 and 3rd bedroom was incorporated into open living space.

22. 2021-07-14
    listed $194,500 Active 928-char remark

    Show marketing remark (928 chars)

    Adorable home in the heart of Piedmont original Town! Located on a corner lot with 7 lots, there is plenty of room for any activity you enjoy! The land could be divided into two properties. The home has 2 beds and 1 bath plus a huge open living area which opens onto the back covered patio. The back yard has a new chain link fence with black privacy screening. 2 car attached garage as well as an attached basement. There are also two additional buildings with electricity which are great for a shop, greenhouse or other hobbies. Current owner has installed a new HVAC system, hot water tank and new flooring in kitchen, dining, open living area. The kitchen has new sink, faucet and dishwasher. New interior and exterior paint, as well as newly remodeled inside laundry closet. Original house built in 1950 had 3 small bedrooms. Garage and second living add in 1962 and 3rd bedroom was incorporated into open living space.

23. 2011-11-01
    soldstatus $85,000
24. 1995-03-02
    soldstatus $58,000

ⓘ 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: $2,187 · $182/mo
• Projected year-2 tax: $2,187 · $182/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,550
• − Mortgage interest: −$10,587
• − Property taxes: −$2,187
• − Insurance: −$945
• − Repairs & maintenance: −$1,564
• − Management: −$1,564
• − Depreciation: −$5,498
• Taxable loss: −$2,795
• Est. tax savings @ 24.0%: +$671
• After-tax cash flow: $1,090/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: Piedmont
• NCES district ID: 4023970
• Math proficiency: 37% ▼ -15.00%
• Reading proficiency: 39% ▼ -9.00%
• Median HH income: $83,943
• Composite: 36.08/100
• National rank: #4762
• State rank: #9 of 270 in OK

Livability — Piedmont

• Score: 77/100
• State rank: #8
• US rank: #2866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piedmont, OK
• County: Canadian County · 154,341 people
• City population: 13,021
• Metro: Oklahoma City, OK
• Population (ZIP): 13,021
• Household income: $105,441
• Rent vs Own: 7.9% rent · 92.1% own
• Severe rent burden: 48.0

Population outlook (Canadian County) Hauer SSP2

• Today (2025): 174,062 people
• By 2030: 195,170 · +12.1%
• By 2040: 239,293 · +37.5%
• By 2050: 285,457 · +64.0%
• By 2075: 403,766 · +132.0%
• By 2100: 498,766 · +186.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 10% Black 3% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 4% Iranian 3% Serbian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Canadian

• 2024 margin: Solid R (+40.4) · D 28.8% · R 69.2% · Other 2.0%
• 2008→2024 swing: +11.9pp toward D · 2008: -52.2pp · 2024: -40.4pp
• All cycles: 2024: R+40.4 2020: R+43.3 2016: R+51.2 2012: R+54.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.50%
• Current HPI: 262.6535
• 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

+225.9% since first listed

10 events — show timeline

• 2026-05-07 Price Changed $189,000 MLSOK
• 2026-04-14 Listed $198,000 MLSOK
• 2021-12-21 Sold (MLS) $150,000 MLSOK
• 2021-11-01 Pending — MLSOK
• 2021-09-15 Price Changed $174,500 MLSOK
• 2021-08-31 Sold (Public Records) $250,000 Public Records
• 2021-07-23 Price Changed $189,500 MLSOK
• 2021-07-14 Listed $194,500 MLSOK
• 2011-11-01 Sold (Public Records) $85,000 Public Records
• 1995-03-02 Sold (Public Records) $58,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $2,187 · +4.2% YoY. Source: county tax records.