204 N Cedar Ave · Tahlequah, OK 74464

$109,900

1 bd · 1.0 ba · 678 sqft · SingleFamily public records · 3 Days on market

Built 1960 6,821 sqft lot Est $117k · 6% under

---

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 +19.9/30.0
• ARV discount +10.1/15.0
• DSCR +6.3/10.0
• Rent growth +4.8/5.0
• 1% rule +3.9/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Cozy Bungalow in the Heart of Tahlequah! Charming 1 bedroom, 1 bathroom bungalow conveniently located near Cherokee Nation medical facilities, Northeastern Health System, OSU College of Osteopathic Medicine, and Northeastern State University. Whether you're a student, medical professional, investor, or looking to downsize, this home offers an ideal location with easy access to work, school, and everyday amenities. Affordable, low-maintenance, and full of potential!

Key facts

• Easy access to work
• 6,821 sq ft lot
• Built 1960

Tags

• EASY ACCESS TO WORK
• EASY ACCESS TO SCHOOL
• EASY ACCESS TO AMENITIES

Property features AI

Exterior

• Parking: Gravel driveway
• Security: No safety shelter
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story; Faces west; Crawlspace foundation
• Construction: Built with wood frame; Asphalt/fiberglass roof
• Exterior features: Covered porch; Gravel driveway; Partial chain link fencing

Interior

• Kitchen: Built-in range; Oven; Range; Refrigerator; Electric oven connection; Electric range connection
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Zoned cooling
• Interior features: Granite counters; Vinyl windows
• Laundry & utility: Washer; Dryer; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $134 ($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 $98k (10.8% below list).
• Recommended offer: $98k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.3% in Tahlequah — 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 66/100 on livability (#124 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D, amenities D, commute F.
• Tahlequah (town): math 27% / reading 25% proficiency, ranked #109 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 367 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $15k; list at $110k implies a 633% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $98,055 (10.8% below list)

Questions for the listing agent

1. Built in 1960 — 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: 0.89% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $116,616
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 E Harrison St	0.14mi	2/1.0 (+1)	742 (+9%)	10mo	$25,000	$34	64
117 S Bluff Ave	0.62mi	2/1.0 (+1)	640 (-6%)	10mo	$110,000	$172	48

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.5%
• Equity multiple: 0.86×
• Total profit: $-4,170
• Equity at exit: $16,386

10-year hold

• IRR: 10.7%
• Equity multiple: 2.00×
• Total profit: $30,682
• Equity at exit: $9,502

Cash invested: $30,772 (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 74464

• Rents YoY: 9.2%
• Active inventory: 367
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$19 /mo · $226/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $134

Break-even live

Break-even rent $811

Max offer price $109,900

Occupancy floor 81%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-09
   status $109,900 Pending 3 DOM
2. 2026-06-08
   days on market $109,900 Active 3 DOM
3. 2026-06-07
   remarks 469-char remark
4. 2026-06-07
   listed $109,900 Active 2 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: $226 · $19/mo
• Projected year-2 tax: $989 · $82/mo
• Expected delta: +$763/yr (+$64/mo · 337.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $11,767
• − Mortgage interest: −$6,156
• − Property taxes: −$226
• − Insurance: −$550
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$3,197
• Taxable loss: −$245
• Est. tax savings @ 24.0%: +$59
• After-tax cash flow: $1,663/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: Tahlequah
• NCES district ID: 4029380
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $32,990
• Composite: 21.28/100
• National rank: #8393
• State rank: #109 of 270 in OK

Livability — Tahlequah

• Score: 66/100
• State rank: #124
• US rank: #12171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tahlequah, OK
• County: Cherokee County · 31,116 people
• City population: 31,116
• Metro: Tahlequah, OK
• Population (ZIP): 31,116
• Household income: $51,262
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1058.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 51,747 people
• By 2030: 53,481 · +3.4%
• By 2040: 56,503 · +9.2%
• By 2050: 59,370 · +14.7%
• By 2075: 67,178 · +29.8%
• By 2100: 70,900 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 41% Native American 35% Two or more races 16% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 6%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+32.6) · D 32.7% · R 65.3% · Other 2.0%
• 2008→2024 swing: -20.4pp toward R · 2008: -12.2pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+29.3 2016: R+27.5 2012: R+14.1 2008: R+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -184.14%
• Current HPI: 226.4004
• Rent YoY: ▲ 9.23%
• Metro: Tahlequah, 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

+632.7% since first listed

10 events — show timeline

• 2026-06-05 Listed $109,900 MLS Technology, Inc.
• 2024-11-10 Rental Removed $850 APPFOLIO
• 2024-11-03 Listed for Rent $850 APPFOLIO
• 2013-04-09 Listing Removed — MLS Technology, Inc.
• 2012-10-10 Listed $42,000 MLS Technology, Inc.
• 2012-10-09 Listing Removed — MLS Technology, Inc.
• 2012-04-12 Listed $42,000 MLS Technology, Inc.
• 2005-08-01 Listing Removed — MLS Technology, Inc.
• 2005-04-08 Listed $34,500 MLS Technology, Inc.
• 1995-09-26 Sold (Public Records) $15,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $226 · -2.6% YoY. Source: county tax records.