616 N 5th St · Okeene, OK 73763

$38,000

2 bd · 1.0 ba · 996 sqft · SingleFamily public records · 116 Days on market

Built 1954 7,000 sqft lot Est $72k · 47% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Come view this incredibly priced home in the interior of Okeene. Close to schools, downtown and easy access to the main highways. This would make a great first time home and/or investment property. AS IS.

Key facts

• 7,000 sq ft lot
• Built 1954
• Listed 116 days

Property features AI

Finance

• Other: Located in Okeene City addition; Directions available: From Main Street turn right/north on East B Street to 5th Street. House is on the right hand side.
• Financial info: Not assumable; Loan qualifying allowed; Current price listed (data provided)
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One-level home; Existing property
• Construction: Brick and frame construction; Composition roof; Conventional foundation; Appraised living area
• Exterior features: Interior lot; Homestead eligible

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating; Window air conditioning units
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $38k).
• Recommended offer: $35k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#19 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Okeene (rural): math 30% / reading 30% proficiency, ranked #256 of 513 in OK (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Okeene Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 176 students, 0% FRL); Okeene Jr-Sr Hs (Jr) (math 15% / reading 15%, grade F, #220 of 345 statewide, top 65%, 46 students, 0% FRL); Okeene Jr-Sr Hs (Sr) (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 106 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Okeene average; the district grade overstates school quality for this exact location.
• Market conditions: 9 active listings in the ZIP; 3 units permitted in Blaine County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($263 loan paydown + $4k appreciation (10.0% local appreciation)).
• Blaine County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $10k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $34,580 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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 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?
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: 2.34% ✓
• Cap rate: 21.27%
• Cash-on-cash: 53.49%
• DSCR: 3.38
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $71,712
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 N Broadway	0.39mi	3/1.5 (+1)	888 (-11%)	3mo	$30,000	$34	54
418 W E St	0.44mi	2/1.0	1,118 (+12%)	12mo	$81,000	$72	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 66.6%
• Equity multiple: 5.78×
• Total profit: $50,892
• Equity at exit: $34,233

10-year hold

• IRR: 60.2%
• Equity multiple: 12.85×
• Total profit: $126,102
• Equity at exit: $73,826

Cash invested: $10,640 (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 73763

• Home prices YoY: 5.1%
• Active inventory: 9
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $889 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$13 /mo · $157/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $474

Break-even live

Break-even rent $289

Max offer price $38,000

Occupancy floor 42%

Sensitivity live

Price	-10% $496	-5% $485	+0% $474	+5% $463	+10% $453
Rent	-10% $404	-5% $439	+0% $474	+5% $509	+10% $544
Rate	-1.0pp $493	-0.5pp $484	base $474	+0.5pp $464	+1.0pp $454

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $38,000 Active 116 DOM
2. 2026-06-21
   days on market $38,000 Active 115 DOM
3. 2026-06-18
   days on market $38,000 Active 113 DOM
4. 2026-06-17
   days on market $38,000 Active 112 DOM
5. 2026-06-16
   days on market $38,000 Active 111 DOM
6. 2026-06-15
   days on market $38,000 Active 110 DOM
7. 2026-06-13
   days on market $38,000 Active 108 DOM
8. 2026-06-12
   days on market $38,000 Active 107 DOM
9. 2026-06-09
   days on market $38,000 Active 104 DOM
10. 2026-06-08
    days on market $38,000 Active 103 DOM
11. 2026-06-08
    days on market $38,000 Active 102 DOM
12. 2026-06-07
    days on market $38,000 Active 101 DOM
13. 2026-06-04
    days on market $38,000 Active 98 DOM
14. 2026-06-02
    days on market $38,000 Active 97 DOM
15. 2026-06-01
    days on market $38,000 Active 96 DOM
16. 2026-05-31
    days on market $38,000 Active 95 DOM
17. 2026-02-23
    listed $48,000 Active
18. 2021-03-01
    soldstatus $35,000
19. 2021-01-12
    listed $38,000
20. 2018-01-03
    soldstatus $31,000
21. 2008-09-28
    historical
22. 2008-06-23
    soldstatus $32,500
23. 2008-03-28
    listed $29,500
24. 2006-07-21
    soldstatus $14,500
25. 2004-11-25
    soldstatus $10,000

ⓘ 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: $157 · $13/mo
• Projected year-2 tax: $342 · $28/mo
• Expected delta: +$185/yr (+$15/mo · 117.8%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $10,670
• − Mortgage interest: −$2,129
• − Property taxes: −$157
• − Insurance: −$190
• − Repairs & maintenance: −$854
• − Management: −$854
• − Depreciation: −$1,105
• Taxable income: $5,382
• Est. tax owed @ 24.0%: −$1,292
• After-tax cash flow: $4,399/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: Okeene
• NCES district ID: 4022650
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $43,708
• Composite: 28.44/100
• National rank: #12108
• State rank: #256 of 513 in OK

Livability — Okeene

• Score: 73/100
• State rank: #19
• US rank: #5599

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Okeene, OK
• Population (ZIP): 1,746

Population outlook (Blaine County) Hauer SSP2

• Today (2025): 10,545 people
• By 2030: 10,898 · +3.3%
• By 2040: 11,795 · +11.9%
• By 2050: 12,754 · +20.9%
• By 2075: 15,721 · +49.1%
• By 2100: 16,043 · +52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 13% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 8% Romanian 4% Lithuanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 87% English-only · Spanish 11% German/W. Germanic 2%

Political lean MEDSL · Blaine

• 2024 margin: Solid R (+63.0) · D 17.7% · R 80.7% · Other 1.6%
• 2008→2024 swing: -12.1pp toward R · 2008: -50.8pp · 2024: -63.0pp
• All cycles: 2024: R+63.0 2020: R+62.8 2016: R+57.3 2012: R+48.0 2008: R+50.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.11%
• Current HPI: 209.7871
• Rent YoY: —
• Metro: —
• 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

+380.0% since first listed

9 events — show timeline

• 2026-02-23 Listed $48,000 MLSOK
• 2021-03-01 Sold (MLS) $35,000 NWOAR
• 2021-01-12 Listed $38,000 NWOAR
• 2018-01-03 Sold (Public Records) $31,000 Public Records
• 2008-09-28 Listing Removed — MLSOK
• 2008-06-23 Sold (Public Records) $32,500 Public Records
• 2008-03-28 Listed $29,500 MLSOK
• 2006-07-21 Sold (Public Records) $14,500 Public Records
• 2004-11-25 Sold (Public Records) $10,000 Public Records

Property tax history

-2.7%/yr

Latest (2025): $157 · +4.0% YoY. Source: county tax records.