550 N Main St · Jennings, OK 74038

$169,700

2 bd · 2.0 ba · 1,505 sqft · SingleFamily public records · 131 Days on market

Built 1976 10,467 sqft lot Est $220k · 23% under ↓ 6% since listing

---

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 +9.1/30.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0

Listing remarks

Charming 3-bedroom, 2-bath full-brick home on a spacious corner lot in the heart of Jennings. This well-maintained property includes two additional complete lots, a multi-car garage, and an attached exterior room that offers flexible use. A separate white structure on the property—currently used for storage—adds even more utility. Inside, the home features new vinyl laminate flooring and fresh carpet in most rooms, along with updated interior paint that creates a bright, welcoming atmosphere. The fireplace has been newly renovated with an updated chimney, making it fully functional for cozy evenings. While the exact age of the additional room is unknown, it appears to be in soli

Key facts

• Multi car garage
• Spacious corner lot
• Full brick home

Tags

• FULL BRICK HOME
• SPACIOUS CORNER LOT
• TWO ADDITIONAL COMPLETE LOTS
• MULTI CAR GARAGE
• ATTACHED EXTERIOR ROOM
• NEW VINYL LAMINATE FLOORING

Property features AI

Finance

• Other: Property located in Jennings Ot addition; Not a model home; Not historically designated; Occupied: No; Days on market: 89; Current price: $169,700
• Financial info: Assumable loan: Unknown; Loan qualification: Unknown
• HOA & community: No mandatory association dues

Exterior

• Parking: 312 garage spaces
• Home design: Single-family residence; Residential property; One story; Existing property
• Construction: Brick construction; Composition roof; Slab foundation
• Exterior features: Covered patio; Front porch; Corner lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Gas log fireplace; Living area on one level; One living area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (33.9% below list).
• Recommended offer: $112k (33.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#182 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Jennings (rural): math 20% / reading 35% proficiency, ranked #312 of 513 in OK (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jennings Public School (math 12% / reading 22%, grade F, #540 of 845 statewide, top 68%, 247 students, 0% FRL) — zoned schools average 0% FRL vs 74% district-wide (74 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 26 active listings in the ZIP; 3 units permitted in Pawnee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Pawnee County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

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 $112,184 (33.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.66% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.31%
• DSCR: 0.85
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $219,730
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
170 N Elm St	0.31mi	3/2.0 (+1)	1,428 (-5%)	23mo	$208,500	$146	53

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: 4.4%
• Equity multiple: 1.25×
• Total profit: $12,024
• Equity at exit: $76,304

10-year hold

• IRR: 7.6%
• Equity multiple: 2.15×
• Total profit: $54,410
• Equity at exit: $117,594

Cash invested: $47,516 (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 74038

• Active inventory: 26
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,122 medium
• Mortgage (P&I): −$890
• Tax from tax record: −$57 /mo · $679/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-131

Break-even live

Break-even rent $1,288

Max offer price $146,566

Occupancy floor —

Sensitivity live

Price	-10% $-35	-5% $-83	+0% $-131	+5% $-179	+10% $-227
Rent	-10% $-220	-5% $-175	+0% $-131	+5% $-87	+10% $-42
Rate	-1.0pp $-45	-0.5pp $-88	base $-131	+0.5pp $-175	+1.0pp $-220

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: $42,425
• Closing costs: $5,091
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-08
   days on market $169,700 Active 131 DOM
2. 2026-06-08
   days on market $169,700 Active 130 DOM
3. 2026-06-05
   days on market $169,700 Active 128 DOM
4. 2026-06-04
   days on market $169,700 Active 126 DOM
5. 2026-06-02
   days on market $169,700 Active 125 DOM
6. 2026-06-01
   days on market $169,700 Active 124 DOM
7. 2026-05-31
   days on market $169,700 Active 123 DOM
8. 2026-03-13
   price $169,700
9. 2026-01-28
   listed $180,000 Active

ⓘ 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: $679 · $57/mo
• Projected year-2 tax: $1,527 · $127/mo
• Expected delta: +$848/yr (+$71/mo · 124.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,462
• − Mortgage interest: −$9,506
• − Property taxes: −$679
• − Insurance: −$848
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$4,937
• Taxable loss: −$4,662
• Est. tax savings @ 24.0%: +$1,119
• After-tax cash flow: $-453/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: Jennings
• NCES district ID: 4015750
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $35,901
• Composite: 25.69/100
• National rank: #12812
• State rank: #312 of 513 in OK

Livability — Jennings

• Score: 64/100
• State rank: #182
• US rank: #14467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jennings, OK
• Population (ZIP): 2,204

Population outlook (Pawnee County) Hauer SSP2

• Today (2025): 16,219 people
• By 2030: 16,028 · -1.2%
• By 2040: 15,724 · -3.1%
• By 2050: 15,563 · -4.0%
• By 2075: 15,905 · -1.9%
• By 2100: 16,058 · -1.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 10% Native American 8% Pacific Islander 2% Hispanic / Latino 1%
• Common ancestry: Slovak 4% Romanian 3% Iranian 1%
• Foreign-born: 2%
• Languages at home: 98% English-only · Other Asian/Pacific 1% Spanish 0%

Political lean MEDSL · Pawnee

• 2024 margin: Solid R (+58.9) · D 19.7% · R 78.6% · Other 1.7%
• 2008→2024 swing: -21.4pp toward R · 2008: -37.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+57.5 2016: R+53.2 2012: R+40.0 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-5.7% since first listed

2 events — show timeline

• 2026-03-13 Price Changed $169,700 MLSOK
• 2026-01-28 Listed $180,000 MLSOK

Property tax history

+1.7%/yr

Latest (2025): $679 · +10.4% YoY. Source: county tax records.