719 N Cherry · Spiro, OK 74959

$189,900

3 bd · 2.0 ba · 1,951 sqft · SingleFamily public records · 74 Days on market

Built 1987 0.66 ac lot Est $265k · 28% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.0/30.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• DSCR +1.2/10.0
• 1% rule +0.8/10.0

Listing remarks MLS

Charming home in the heart of Spiro offering comfort, functionality, and a great location. This property features a spacious layout with plenty of natural light, making it feel open and inviting from the moment you walk in. The living area flows easily into the kitchen and dining space, creating a practical setup for both everyday living and entertaining. Outside, you’ll find a generous yard with room to relax, play, or add your personal touch. Conveniently located near local schools, shopping, and easy access to main roads, this home is a great option for first-time buyers or anyone looking for an affordable opportunity.

Key facts

• Generous yard
• Great location
• Natural light

Tags

• GREAT LOCATION
• GENEROUS YARD
• SPACIOUS LAYOUT
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Detached garage; Carport; Garage with 2 spaces
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single‑story; Faces east; Slab foundation
• Construction: Built using Masonite and wood frame; Asphalt/fiberglass roof
• Exterior features: Deck; Storage structure; Gravel driveway; Chain link fencing; Mature trees; No safety shelter

Interior

• Kitchen: Dishwasher; Oven; Range; Disposal; Gas water heater
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Concrete counters; Vaulted ceilings; Ceiling fan(s); High‑speed internet; Vinyl windows
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-278 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (25.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (42.1% below list).
• Recommended offer: $110k (42.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#275 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Spiro (rural): math 18% / reading 21% proficiency, ranked #178 of 270 in OK (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Spiro Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 571 students, 0% FRL); Spiro Ms (math 16% / reading 18%, grade F, #193 of 345 statewide, top 60%, 202 students, 0% FRL); Spiro Hs (math 17% / reading 34%, grade F, #141 of 447 statewide, top 31%, 290 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 73 units permitted in Le Flore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Le Flore County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $93k; list at $190k implies a 104% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (42.1% 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 74 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.58% ✗
• Cap rate: 4.54%
• Cash-on-cash: -6.27%
• DSCR: 0.72
• GRM: 14.4

CMA / ARV

• ARV (on-the-fly): $265,336
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 Carrie Dr	0.17mi	3/2.0	1,840 (-6%)	15mo	$249,999	$136	70
615 NW 4th St	0.62mi	3/2.0	2,137 (+10%)	2mo	$214,900	$101	54
219 N Boston St	0.49mi	3/2.0	1,792 (-8%)	18mo	$85,000	$47	49
711 Anne Dr	0.37mi	2/2.0 (-1)	1,776 (-9%)	19mo	$250,000	$141	47

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: 1.7%
• Equity multiple: 1.10×
• Total profit: $5,107
• Equity at exit: $85,387

10-year hold

• IRR: 5.3%
• Equity multiple: 1.81×
• Total profit: $42,877
• Equity at exit: $131,592

Cash invested: $53,172 (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 74959

• Active inventory: 66
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-278

Break-even live

Break-even rent $1,451

Max offer price $140,852

Occupancy floor —

Sensitivity live

Price	-10% $-170	-5% $-224	+0% $-278	+5% $-331	+10% $-385
Rent	-10% $-365	-5% $-321	+0% $-278	+5% $-234	+10% $-191
Rate	-1.0pp $-182	-0.5pp $-229	base $-278	+0.5pp $-327	+1.0pp $-377

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 NE 3rd St Spiro, OK	2.0	1.0	1469	$1,100	$0.75	15d	1	0.33mi

Listing history 23 events

1. 2026-06-21
   days on market $189,900 Active 74 DOM
2. 2026-06-19
   days on market $189,900 Active 72 DOM
3. 2026-06-18
   days on market $189,900 Active 71 DOM
4. 2026-06-17
   days on market $189,900 Active 70 DOM
5. 2026-06-16
   days on market $189,900 Active 69 DOM
6. 2026-06-15
   days on market $189,900 Active 68 DOM
7. 2026-06-14
   days on market $189,900 Active 66 DOM
8. 2026-06-13
   days on market $189,900 Active 65 DOM
9. 2026-06-10
   days on market $189,900 Active 63 DOM
10. 2026-06-09
    days on market $189,900 Active 62 DOM
11. 2026-06-08
    days on market $189,900 Active 61 DOM
12. 2026-06-07
    days on market $189,900 Active 60 DOM
13. 2026-06-05
    days on market $189,900 Active 57 DOM
14. 2026-06-03
    price $189,900 Active 55 DOM
15. 2026-06-02
    days on market $195,000 Active 55 DOM
16. 2026-06-01
    days on market $195,000 Active 54 DOM
17. 2026-05-31
    days on market $195,000 Active 53 DOM
18. 2026-05-30
    days on market $195,000 Active 52 DOM
19. 2026-04-08
    listed $195,000 Active 635-char remark

    Show marketing remark (635 chars)

    Charming home in the heart of Spiro offering comfort, functionality, and a great location. This property features a spacious layout with plenty of natural light, making it feel open and inviting from the moment you walk in. The living area flows easily into the kitchen and dining space, creating a practical setup for both everyday living and entertaining. Outside, you’ll find a generous yard with room to relax, play, or add your personal touch. Conveniently located near local schools, shopping, and easy access to main roads, this home is a great option for first-time buyers or anyone looking for an affordable opportunity.

20. 2026-04-07
    listed $195,000 Active
21. 2025-07-16
    listed $199,900 Active
22. 2013-06-18
    soldstatus $93,000
23. 1998-07-02
    soldstatus $52,000

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $1,709 · $142/mo
• Expected delta: +$849/yr (+$71/mo · 98.7%)

ⓘ 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 ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $13,200
• − Mortgage interest: −$10,637
• − Property taxes: −$860
• − Insurance: −$950
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$5,524
• Taxable loss: −$6,883
• Est. tax savings @ 24.0%: +$1,652
• After-tax cash flow: $-1,680/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: Spiro
• NCES district ID: 4028200
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $38,031
• Composite: 16.35/100
• National rank: #9204
• State rank: #178 of 270 in OK

Livability — Spiro

• Score: 61/100
• State rank: #275
• US rank: #17347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spiro, OK
• Population (ZIP): 6,156

Population outlook (Le Flore County) Hauer SSP2

• Today (2025): 48,504 people
• By 2030: 47,474 · -2.1%
• By 2040: 44,914 · -7.4%
• By 2050: 42,239 · -12.9%
• By 2075: 35,071 · -27.7%
• By 2100: 25,949 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Native American 12% Two or more races 9% Black 4% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Le Flore

• 2024 margin: Solid R (+64.8) · D 17.0% · R 81.8% · Other 1.3%
• 2008→2024 swing: -26.1pp toward R · 2008: -38.6pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.4 2016: R+58.7 2012: R+41.1 2008: R+38.6

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

+275.0% since first listed

5 events — show timeline

• 2026-04-08 Listed $195,000 WRVBOR
• 2026-04-07 Listed $195,000 MLS Technology, Inc.
• 2025-07-16 Listed $199,900 WRVBOR
• 2013-06-18 Sold (Public Records) $93,000 Public Records
• 1998-07-02 Sold (Public Records) $52,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $860 · +2.4% YoY. Source: county tax records.