315 W Watts St · El Reno, OK 73036

$50,000

5 bd · 3.0 ba · 2,334 sqft · SingleFamily public records · 68 Days on market

Built 1920 6,251 sqft lot

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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
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in El Reno! This property offers a beautiful lot with plenty of potential for a new build. Please note: the home is currently under review by the city and has been condemned, owners are appealing this. Demolition likely required. Perfect for investors or buyers looking to build.

Key facts

• 6,251 sq ft lot
• Built 1920
• Listed 68 days

Property features AI

Finance

• Other: Located in El Reno Original Town addition; No storm shelter; Living area approximately 2,334 (assessor); Directions available
• Financial info: Not assumable
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; Residential property; Multi-level property; Existing property
• Construction: Frame construction; Composition roof; Combination foundation; Built (existing)
• Exterior features: Interior lot

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.5% vs local median 4.8% in El Reno — 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 67/100 on livability (#95 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• El Reno (town): math 12% / reading 15% proficiency, ranked #232 of 270 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hillcrest Es (325 students, 0% FRL); Etta Dale Jhs (math 7% / reading 13%, grade F, #277 of 345 statewide, top 83%, 444 students, 0% FRL); El Reno Hs (math 16% / reading 19%, grade F, #307 of 447 statewide, top 69%, 980 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 281 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $50k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $47,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 3.43% ✓
• Cap rate: 31.48%
• Cash-on-cash: 89.94%
• DSCR: 5.00
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $228,732
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
600 S Macomb Ave	0.34mi	5/2.5	2,292 (-2%)	1mo	$245,000	$107	78
509 S Hadden Ave	0.26mi	5/3.0	2,200 (-6%)	20mo	$70,000	$32	62
301 S Barker Ave	0.33mi	4/2.0 (-1)	2,254 (-3%)	18mo	$220,000	$98	55
1029 S Hadden Ave	0.62mi	4/2.0 (-1)	2,245 (-4%)	21mo	$258,000	$115	38
906 S Barker Ave	0.38mi	4/2.0 (-1)	2,032 (-13%)	22mo	$165,000	$81	33
1120 S Ellison Ave	0.71mi	4/3.0 (-1)	2,544 (+9%)	23mo	$195,000	$77	28

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 · 4.19% rent growth · sell at horizon

5-year hold

• IRR: 91.9%
• Equity multiple: 5.34×
• Total profit: $60,809
• Equity at exit: $7,455

10-year hold

• IRR: 95.0%
• Equity multiple: 11.55×
• Total profit: $147,748
• Equity at exit: $4,323

Cash invested: $14,000 (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 73036

• Home prices YoY: -3.3%
• Rents YoY: 4.2%
• Active inventory: 281
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,715 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$22 /mo · $270/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $1,049

Break-even live

Break-even rent $387

Max offer price $50,000

Occupancy floor 34%

Sensitivity live

Price	-10% $1,078	-5% $1,063	+0% $1,049	+5% $1,035	+10% $1,021
Rent	-10% $914	-5% $982	+0% $1,049	+5% $1,117	+10% $1,185
Rate	-1.0pp $1,074	-0.5pp $1,062	base $1,049	+0.5pp $1,036	+1.0pp $1,023

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1802 S Dille Ave El Reno, OK	4.0	2.0	2712	$1,595	$0.59	3d	1	0.86mi

Listing history 18 events

1. 2026-06-21
   days on market $50,000 Active 68 DOM
2. 2026-06-18
   days on market $50,000 Active 65 DOM
3. 2026-06-17
   days on market $50,000 Active 64 DOM
4. 2026-06-16
   days on market $50,000 Active 63 DOM
5. 2026-06-15
   days on market $50,000 Active 62 DOM
6. 2026-06-13
   days on market $50,000 Active 60 DOM
7. 2026-06-13
   days on market $50,000 Active 59 DOM
8. 2026-06-09
   days on market $50,000 Active 56 DOM
9. 2026-06-08
   days on market $50,000 Active 55 DOM
10. 2026-06-07
    days on market $50,000 Active 54 DOM
11. 2026-06-05
    days on market $50,000 Active 51 DOM
12. 2026-06-03
    days on market $50,000 Active 50 DOM
13. 2026-06-02
    days on market $50,000 Active 49 DOM
14. 2026-06-01
    days on market $50,000 Active 48 DOM
15. 2026-05-31
    days on market $50,000 Active 47 DOM
16. 2026-04-14
    listed $50,000 Active
17. 2012-09-28
    soldstatus $20,000
18. 1999-12-15
    soldstatus $20,000

ⓘ 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: $270 · $22/mo
• Projected year-2 tax: $450 · $37/mo
• Expected delta: +$180/yr (+$15/mo · 66.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,580
• − Mortgage interest: −$2,801
• − Property taxes: −$270
• − Insurance: −$250
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$1,455
• Taxable income: $12,512
• Est. tax owed @ 24.0%: −$3,003
• After-tax cash flow: $9,589/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: El Reno
• NCES district ID: 4010650
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $44,689
• Composite: 12.01/100
• National rank: #9664
• State rank: #232 of 270 in OK

Livability — El Reno

• Score: 67/100
• State rank: #95
• US rank: #10933

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

• Census place: El Reno, OK
• County: Canadian County · 154,341 people
• City population: 21,387
• Metro: Oklahoma City, OK
• Population (ZIP): 21,387
• Household income: $59,915
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 580.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 17% Two or more races 8% Native American 8% Black 6%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 10%

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: ▼ -11.37%
• Current HPI: 334.5896
• Rent YoY: ▲ 4.19%
• 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

+150.0% since first listed

3 events — show timeline

• 2026-04-14 Listed $50,000 MLSOK
• 2012-09-28 Sold (Public Records) $20,000 Public Records
• 1999-12-15 Sold (Public Records) $20,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $270 · -34.3% YoY. Source: county tax records.