500 W 16 St · Ada, OK 74820

$120,000

3 bd · 2.0 ba · 1,510 sqft · SingleFamily public records · 102 Days on market

Built 1942 7,000 sqft lot Est $98k · 22% over

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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).

• Cash flow +23.8/30.0
• DSCR +7.7/10.0
• 1% rule +5.1/10.0
• Rent growth +3.7/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special! Excellent opportunity to acquire a turnkey, income-producing property with immediate cash flow in place. The home is currently leased at $1,200 per month with 11 months remaining on a two-year lease, providing predictable income and reducing vacancy risk for the next owner. Existing tenancy allows for a smooth transition and immediate returns from day one. This 3-bedroom, 1.5-bath residence sits on a desirable corner lot, offering added curb appeal and long-term value. The property has been freshly painted and is well maintained, helping minimize upfront capital expenditures. A functional floor plan and solid condition make this home attractive to long-term renters and eas

Key facts

• Freshly painted
• Corner lot
• 7,000 sq ft lot

Tags

• CORNER LOT
• FRESHLY PAINTED
• FUNCTIONAL FLOOR PLAN
• WALKING DISTANCE TO DOWNTOWN
• ESTABLISHED NEIGHBORHOOD

Property features AI

Exterior

• Parking: 1-car garage; Carport
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces east; Crawlspace foundation; Wood siding with wood frame construction
• Construction: Wood siding; Wood frame construction; Crawlspace foundation; Built (year per public records)
• Exterior features: Covered porch; Storage structure; Partial chain link fencing; Corner lot

Interior

• Kitchen: Oven; Range; Refrigerator; Electric water heater
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (gas, radiant); Two cooling units
• Interior features: High ceilings; Laminate counters; Storm windows with wood frames; Electric oven connection
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.0% in Ada — 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 70/100 on livability (#41 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, employment D, crime D-.
• Ada (town): math 17% / reading 23% proficiency, ranked #177 of 270 in OK (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.8%/yr); 305 active listings in the ZIP; 2 units permitted in Pontotoc County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Pontotoc County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $27k; list at $120k implies a 344% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• 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 $109,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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 1942 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.01% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $98,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 S 14 St	0.15mi	3/2.0	1,691 (+12%)	6mo	$240,000	$142	68
729 W 13th	0.30mi	4/2.0 (+1)	1,398 (-7%)	0mo	$49,000	$35	68
622 W 23rd St	0.53mi	3/2.0	1,540 (+2%)	5mo	$100,000	$65	68
115 W 18th St	0.38mi	2/1.0 (-1)	1,564 (+4%)	2mo	$185,000	$118	66
630 W 8th	0.61mi	3/1.0	1,475 (-2%)	0mo	$44,500	$30	64
1312 S Cherry St	0.52mi	3/1.0	1,416 (-6%)	2mo	$174,000	$123	60
630 W 21st	0.40mi	4/2.0 (+1)	1,658 (+10%)	4mo	$108,000	$65	57
730 W 8th St	0.63mi	3/1.0	1,428 (-5%)	4mo	$51,700	$36	54
411 W 8th	0.56mi	2/1.0 (-1)	1,400 (-7%)	3mo	$81,500	$58	50
904 W 24th St	0.69mi	3/2.0	1,311 (-13%)	2mo	$166,500	$127	44
319 E 13th St	0.65mi	3/1.0	1,284 (-15%)	1mo	$138,000	$107	40
808 W 7th	0.72mi	3/1.0	1,318 (-13%)	4mo	$13,000	$10	38

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 · 4.83% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,548
• Equity at exit: $17,892

10-year hold

• IRR: 9.4%
• Equity multiple: 1.78×
• Total profit: $26,161
• Equity at exit: $10,375

Cash invested: $33,600 (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 74820

• Home prices YoY: -11.5%
• Rents YoY: 4.8%
• Active inventory: 305
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$47 /mo · $563/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $230

Break-even live

Break-even rent $919

Max offer price $120,000

Occupancy floor 76%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $120,000 Active 102 DOM
2. 2026-06-18
   days on market $120,000 Active 101 DOM
3. 2026-06-17
   days on market $120,000 Active 100 DOM
4. 2026-06-16
   days on market $120,000 Active 99 DOM
5. 2026-06-15
   days on market $120,000 Active 98 DOM
6. 2026-06-14
   days on market $120,000 Active 96 DOM
7. 2026-06-12
   days on market $120,000 Active 95 DOM
8. 2026-06-09
   days on market $120,000 Active 92 DOM
9. 2026-06-08
   days on market $120,000 Active 91 DOM
10. 2026-06-07
    days on market $120,000 Active 90 DOM
11. 2026-06-05
    days on market $120,000 Active 87 DOM
12. 2026-06-02
    days on market $120,000 Active 85 DOM
13. 2026-06-01
    days on market $120,000 Active 84 DOM
14. 2026-05-31
    days on market $120,000 Active 83 DOM
15. 2026-05-30
    days on market $120,000 Active 82 DOM
16. 2026-05-22
    price $120,000
17. 2026-03-09
    listed $124,900 Active
18. 2026-02-18
    historical
19. 2026-01-02
    price $124,900
20. 2025-10-28
    price $129,500
21. 2025-10-08
    price $147,500
22. 2025-09-02
    listed $149,000 Active
23. 2024-11-21
    historical
24. 2024-10-24
    price $139,500
25. 2024-10-01
    price $129,000
26. 2024-08-29
    price $139,000
27. 2024-07-11
    listed $149,000 Active
28. 2001-08-28
    soldstatus $27,000

ⓘ 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: $563 · $47/mo
• Projected year-2 tax: $1,080 · $90/mo
• Expected delta: +$517/yr (+$43/mo · 91.8%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $14,530
• − Mortgage interest: −$6,722
• − Property taxes: −$563
• − Insurance: −$600
• − Repairs & maintenance: −$1,162
• − Management: −$1,162
• − Depreciation: −$3,491
• Taxable income: $830
• Est. tax owed @ 24.0%: −$199
• After-tax cash flow: $2,565/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: Ada
• NCES district ID: 4002430
• Math proficiency: 17% ▼ -11.00%
• Reading proficiency: 23% ▼ -8.00%
• Median HH income: $33,907
• Composite: 16.36/100
• National rank: #9203
• State rank: #177 of 270 in OK

Livability — Ada

• Score: 70/100
• State rank: #41
• US rank: #7835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ada, OK
• County: Pontotoc County · 31,943 people
• City population: 31,943
• Metro: Ada, OK
• Population (ZIP): 31,943
• Household income: $62,357
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 774.0

Population outlook (Pontotoc County) Hauer SSP2

• Today (2025): 39,521 people
• By 2030: 40,140 · +1.6%
• By 2040: 41,242 · +4.4%
• By 2050: 42,293 · +7.0%
• By 2075: 44,678 · +13.0%
• By 2100: 46,015 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 62% Native American 19% Two or more races 13% Hispanic / Latino 7% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Pontotoc

• 2024 margin: Solid R (+46.6) · D 25.7% · R 72.3% · Other 2.1%
• 2008→2024 swing: -9.9pp toward R · 2008: -36.7pp · 2024: -46.6pp
• All cycles: 2024: R+46.6 2020: R+43.7 2016: R+45.8 2012: R+38.8 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -32.45%
• Current HPI: 250.7685
• Rent YoY: ▲ 4.83%
• Metro: Ada, 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

+344.4% since first listed

13 events — show timeline

• 2026-05-22 Price Changed $120,000 MLS Technology, Inc.
• 2026-03-09 Listed $124,900 MLS Technology, Inc.
• 2026-02-18 Listing Removed — MLS Technology, Inc.
• 2026-01-02 Price Changed $124,900 MLS Technology, Inc.
• 2025-10-28 Price Changed $129,500 MLS Technology, Inc.
• 2025-10-08 Price Changed $147,500 MLS Technology, Inc.
• 2025-09-02 Listed $149,000 MLS Technology, Inc.
• 2024-11-21 Listing Removed — MLS Technology, Inc.
• 2024-10-24 Price Changed $139,500 MLS Technology, Inc.
• 2024-10-01 Price Changed $129,000 MLS Technology, Inc.
• 2024-08-29 Price Changed $139,000 MLS Technology, Inc.
• 2024-07-11 Listed $149,000 MLS Technology, Inc.
• 2001-08-28 Sold (Public Records) $27,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $563 · +3.7% YoY. Source: county tax records.