234 N 6th St · Porter, OK 74454

$80,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 174 Days on market

Built 1960 10,454 sqft lot Est $81k · at est. ↓ 11% since listing

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.9/15.0
• Appreciation +6.9/10.0
• 1% rule +5.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

This 2-bedroom, 1-bath home in Porter offers a rare chance to unlock value with your personal touch. The well-laid-out interior provides a functional footprint, ready for renovation — fresh paint, updated flooring, and modest cosmetic work could transform this into a cozy, modern home. The property sits on a roomy lot with potential for landscaping or outdoor enhancements, offering great curb appeal once refreshed. Structurally sound, this home represents a solid foundation for sweat-equity investments. Ideally suited for first-time buyers, DIY enthusiasts, or those looking for a manageable renovation, this home allows you to build equity and create something uniquely yours. Schedule

Key facts

• Great curb appeal
• Roomy lot
• Structurally sound

Tags

• WELL LAID OUT INTERIOR
• ROOMY LOT
• GREAT CURB APPEAL
• STRUCTURALLY SOUND

Property features AI

Exterior

• Parking: Gravel driveway
• Security: No safety shelter
• Utilities: Cable available; Electricity available; Natural gas available; Phone available; Public water; Public sewer
• Home design: Single-story home; Faces east; Crawlspace foundation
• Construction: Built (year per public records); Asbestos and wood frame construction; Metal roof
• Exterior features: Covered patio and porch; Patio; Porch; Shed(s); Gravel driveway; Mature trees; Chain link and privacy fencing

Interior

• Kitchen: Double oven; Oven; Range
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Interior features: Aluminum-framed windows; Laminate counters; Gas range and gas oven connections; Other interior features
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($836 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#417 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Porter Consolidated (rural): math 7% / reading 17% proficiency, ranked #243 of 270 in OK (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 581 units permitted in Wagoner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($553 loan paydown + $3k appreciation (3.9% local appreciation)).
• Wagoner County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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 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?
6. Crime grade is F 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. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.97%
• DSCR: 1.40
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $80,640
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
234 N 6th St	0.00mi	2/1.0	768 (0%)	0mo	$81,000	$105	100

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

Projected returns pro-forma

3.86% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 2.07×
• Total profit: $23,957
• Equity at exit: $39,891

10-year hold

• IRR: 18.7%
• Equity multiple: 3.94×
• Total profit: $65,933
• Equity at exit: $64,716

Cash invested: $22,400 (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 74454

• Home prices YoY: 2.0%
• Active inventory: 39
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $836 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$40 /mo · $485/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $167

Break-even live

Break-even rent $624

Max offer price $80,000

Occupancy floor 75%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-02-18
   price $80,000
3. 2025-11-19
   listed $90,000 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: $485 · $40/mo
• Projected year-2 tax: $720 · $60/mo
• Expected delta: +$235/yr (+$20/mo · 48.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $10,035
• − Mortgage interest: −$4,481
• − Property taxes: −$485
• − Insurance: −$400
• − Repairs & maintenance: −$803
• − Management: −$803
• − Depreciation: −$2,327
• Taxable income: $736
• Est. tax owed @ 24.0%: −$177
• After-tax cash flow: $1,832/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: Porter Consolidated
• NCES district ID: 4030197
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 17% ▼ -9.00%
• Median HH income: $44,945
• Composite: 10.76/100
• National rank: #9767
• State rank: #243 of 270 in OK

Livability — Porter

• Score: 58/100
• State rank: #417
• US rank: #20790

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Porter, OK
• Population (ZIP): 3,013

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 64% Two or more races 15% Native American 14% Black 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Iranian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 3.86%
• Current HPI: 197.0646
• 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

-11.1% since first listed

3 events — show timeline

• 2026-05-12 Pending — MLS Technology, Inc.
• 2026-02-18 Price Changed $80,000 MLS Technology, Inc.
• 2025-11-19 Listed $90,000 MLS Technology, Inc.

Property tax history

+2.9%/yr

Latest (2025): $485 · +4.3% YoY. Source: county tax records.