11427 S 239th EastAvenue · Coweta, OK 74014

$229,900

3 bd · 2.0 ba · 1,464 sqft · Land public records · 72 Days on market

Built 2019 7,200 sqft lot $17/mo HOA · 1% of rent

---

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 +12.3/30.0
• ARV discount +7.5/15.0
• DSCR +3.7/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

Key facts

• Open green space
• Bar-top seating
• Pendant lighting

Tags

• OPEN GREEN SPACE
• OPEN-CONCEPT LIVING
• GRANITE COUNTERTOPS
• BAR-TOP SEATING
• PENDANT LIGHTING
• PORCELAIN COUNTERTOPS

Property features AI

Finance

• Other: Homestead exempt; No storm shelter; Interior lot in Oneta Farms Phase 1
• Financial info: Loan qualification available (not assumable)
• HOA & community: Mandatory association with $200 fee; Association fee covers common area maintenance

Exterior

• Parking: 2-car garage
• Utilities: Rural water
• Home design: Single family residence; One story; Brick and frame construction; Composition roof; Existing property
• Construction: Brick & frame construction; Composition roof; Slab foundation
• Exterior features: Covered porch; Interior lot

Interior

• Kitchen: Free-standing gas range; Free-standing gas oven
• Bedrooms: 3 bedrooms (single-level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Programmable thermostat; Partial storm doors/windows (energy features)
• Interior features: One living area; No fireplace; Garage door opener
• Laundry & utility: Rural water (utility); Slab foundation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $230k.

Deal economics

• At list price, monthly cash flow is $-41 ($-496/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (17.4% below list).
• Recommended offer: $190k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.9% in Coweta — 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 68/100 on livability (#73 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Broken Arrow (suburban): math 23% / reading 28% proficiency, ranked #79 of 270 in OK (top 29%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Spring Creek Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 494 students, 0% FRL); Broken Arrow Hs (math 22% / reading 36%, grade F, #120 of 447 statewide, top 27%, 4,589 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.1%/yr); 652 active listings in the ZIP; solid renter incomes; 581 units permitted in Wagoner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wagoner County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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.

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 $189,783 (17.4% 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 72 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 0.83% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-41,551
• Equity at exit: $34,279

10-year hold

• IRR: -12.7%
• Equity multiple: 0.28×
• Total profit: $-46,288
• Equity at exit: $19,878

Cash invested: $64,372 (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 74014

• Rents YoY: 2.1%
• Active inventory: 652
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,898 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$222 /mo · $2,666/yr
• Insurance: −$96
• HOA: −$17
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-41

Break-even live

Break-even rent $1,950

Max offer price $222,605

Occupancy floor 97%

Sensitivity live

Price	-10% $89	-5% $24	+0% $-41	+5% $-106	+10% $-171
Rent	-10% $-191	-5% $-116	+0% $-41	+5% $34	+10% $109
Rate	-1.0pp $74	-0.5pp $17	base $-41	+0.5pp $-101	+1.0pp $-161

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 25 events

1. 2026-04-29
   status Pending 631-char remark

   Show marketing remark (631 chars)

   Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

2. 2026-04-28
   status Pending
3. 2026-04-27
   price $229,900 631-char remark

   Show marketing remark (631 chars)

   Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

4. 2026-04-27
   price $239,900

   Show marketing remark (631 chars)

   Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

5. 2026-04-27
   price $224,900

   Show marketing remark (631 chars)

   Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

6. 2026-04-27
   price $239,900 631-char remark

   Show marketing remark (631 chars)

   Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

7. 2026-04-16
   price $229,900
8. 2026-03-27
   price $234,900
9. 2026-02-16
   listed $240,000 Active 631-char remark

   Show marketing remark (631 chars)

   Quiet Broken Arrow community with fishing ponds and wide open green space. SENSE OF PEACE FOUND HERE! Wonderful open-concept living, kitchen, and dining area with a desirable split-bedroom layout. Better than new with numerous upgrades throughout! Kitchen features granite countertops, bar-top seating, and added pendant lighting. Bathrooms offer porcelain countertops. Additional improvements include wainscoting in the back bedroom, barn door entry to the primary bath, a large soaking tub, and extended shelving in bath storage areas. Exterior upgrades include an 8x12 backyard shed and a front porch paver extension. See TODAY!

10. 2026-02-14
    listed $240,000 Active
11. 2025-02-04
    historical $1,599
12. 2025-02-01
    historical $1,599
13. 2025-01-09
    listed $1,599
14. 2024-12-13
    price $1,599
15. 2024-11-01
    price $1,685
16. 2024-10-25
    price $1,699
17. 2024-10-18
    price $1,729
18. 2024-10-04
    price $1,749
19. 2024-09-26
    listed $1,750
20. 2022-08-23
    soldstatus $9,189,000
21. 2021-12-21
    soldstatus $220,000
22. 2021-12-15
    soldstatus $220,000 Closed 522-char remark

    Show marketing remark (522 chars)

    Wonderful open concept living, kitchen & dining area, split bedroom plan, better than new with many upgrades. Counters are granite in kitchen and porcelain in baths. Added lighting over kitchen bar with bar-top seating. Other features include: Added wainscoting in back bedroom, barn door added to master bath entry, large soaking tub in master bath, extended shelves in bath storage areas, 8x12 back yard shed, front porch paver extension. Seller reserves all curtains & fold-down craft table in back bedroom.

23. 2021-11-14
    status Pending 522-char remark

    Show marketing remark (522 chars)

    Wonderful open concept living, kitchen & dining area, split bedroom plan, better than new with many upgrades. Counters are granite in kitchen and porcelain in baths. Added lighting over kitchen bar with bar-top seating. Other features include: Added wainscoting in back bedroom, barn door added to master bath entry, large soaking tub in master bath, extended shelves in bath storage areas, 8x12 back yard shed, front porch paver extension. Seller reserves all curtains & fold-down craft table in back bedroom.

24. 2021-11-12
    price $219,000 522-char remark

    Show marketing remark (522 chars)

    Wonderful open concept living, kitchen & dining area, split bedroom plan, better than new with many upgrades. Counters are granite in kitchen and porcelain in baths. Added lighting over kitchen bar with bar-top seating. Other features include: Added wainscoting in back bedroom, barn door added to master bath entry, large soaking tub in master bath, extended shelves in bath storage areas, 8x12 back yard shed, front porch paver extension. Seller reserves all curtains & fold-down craft table in back bedroom.

25. 2021-11-04
    listed $225,000 Active 522-char remark

    Show marketing remark (522 chars)

    Wonderful open concept living, kitchen & dining area, split bedroom plan, better than new with many upgrades. Counters are granite in kitchen and porcelain in baths. Added lighting over kitchen bar with bar-top seating. Other features include: Added wainscoting in back bedroom, barn door added to master bath entry, large soaking tub in master bath, extended shelves in bath storage areas, 8x12 back yard shed, front porch paver extension. Seller reserves all curtains & fold-down craft table in back bedroom.

ⓘ 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: $2,666 · $222/mo
• Projected year-2 tax: $2,666 · $222/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $22,774
• − Mortgage interest: −$12,878
• − Property taxes: −$2,666
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,822
• − Management: −$1,822
• − HOA: −$204
• − Depreciation: −$6,688
• Taxable loss: −$4,455
• Est. tax savings @ 24.0%: +$1,069
• After-tax cash flow: $574/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: Broken Arrow
• NCES district ID: 4005490
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -9.00%
• Median HH income: $64,646
• Composite: 23.86/100
• National rank: #7801
• State rank: #79 of 270 in OK

Livability — Coweta

• Score: 68/100
• State rank: #73
• US rank: #9871

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wagoner County · 61,834 people
• City population: 16,622
• Metro: Tulsa, OK
• Population (ZIP): 45,212
• Household income: $95,501
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 289.0

Population outlook (Wagoner County) Hauer SSP2

• Today (2025): 84,796 people
• By 2030: 88,162 · +4.0%
• By 2040: 93,882 · +10.7%
• By 2050: 98,219 · +15.8%
• By 2075: 106,561 · +25.7%
• By 2100: 109,360 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 11% Hispanic / Latino 11% Native American 6% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Wagoner

• 2024 margin: Solid R (+49.8) · D 24.2% · R 74.0% · Other 1.8%
• 2008→2024 swing: -8.0pp toward R · 2008: -41.8pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+50.1 2016: R+52.0 2012: R+45.7 2008: R+41.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.67%
• Current HPI: 203.7301
• Rent YoY: ▲ 2.12%
• Metro: Tulsa, 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

+2.2% since first listed

25 events — show timeline

• 2026-04-29 Pending — MLS Technology, Inc.
• 2026-04-28 Pending — MLSOK
• 2026-04-27 Price Changed $229,900 MLS Technology, Inc.
• 2026-04-27 Price Changed $239,900 MLSOK
• 2026-04-27 Price Changed $224,900 MLSOK
• 2026-04-27 Price Changed $239,900 MLS Technology, Inc.
• 2026-04-16 Price Changed $229,900 MLSOK
• 2026-03-27 Price Changed $234,900 MLSOK
• 2026-02-16 Listed $240,000 MLS Technology, Inc.
• 2026-02-14 Listed $240,000 MLSOK
• 2025-02-04 Rental Removed $1,599 RENTALBEAST
• 2025-02-01 Rental Removed $1,599 RENT.
• 2025-01-09 Listed for Rent $1,599 RENTALBEAST
• 2024-12-13 Price Changed $1,599 RENT.
• 2024-11-01 Price Changed $1,685 RENT.
• 2024-10-25 Price Changed $1,699 RENT.
• 2024-10-18 Price Changed $1,729 RENT.
• 2024-10-04 Price Changed $1,749 RENT.
• 2024-09-26 Listed for Rent $1,750 RENT.
• 2022-08-23 Sold (Public Records) $9,189,000 Public Records
• 2021-12-21 Sold (Public Records) $220,000 Public Records
• 2021-12-15 Sold (MLS) $220,000 MLS Technology, Inc.
• 2021-11-14 Pending — MLS Technology, Inc.
• 2021-11-12 Price Changed $219,000 MLS Technology, Inc.
• 2021-11-04 Listed $225,000 MLS Technology, Inc.

Property tax history

+8.8%/yr

Latest (2025): $2,666 · -0.0% YoY. Source: county tax records.