724 Oklahoma St · Morrison, OK 73061

$170,000

3 bd · 2.0 ba · 1,370 sqft · SingleFamily public records · 26 Days on market

Built 1979 0.38 ac lot Est $226k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• Appreciation +8.2/10.0
• DSCR +3.7/10.0
• Livability +3.1/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

OFFERED AS IS WITH ALL FAULTS NOT INSURABLE BY HUD. BROKERS MAY RECEIVE UP TO 5%COMMISSION. BIDDING PROCEDURES AVAILABLE @WWW.FIRSTPRESTON.COM 421-338846 BLB 405-631-2500 OPENING DATE 6/13/00

Key facts

• Functional kitchen
• Converted garage
• Updated flooring

Tags

• UPDATED FLOORING
• FUNCTIONAL KITCHEN
• GOOD CABINET SPACE
• CONVERTED GARAGE
• MATURE TREES
• OPEN YARD SPACE

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential home; Located in the LaFollotte subdivision
• Construction: Brick veneer exterior
• Exterior features: Fenced yard; Composition roof

Interior

• Kitchen: Dishwasher; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central Air; Forced air heating; Electric heating
• Interior features: Dishwasher; Range

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-30 ($-365/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (25.1% below list).
• Recommended offer: $127k (25.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#267 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, schools F.
• Morrison (rural): math 31% / reading 26% proficiency, ranked #65 of 270 in OK (top 24%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 24 active listings in the ZIP; 4 units permitted in Noble County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.3% local appreciation)).
• Noble County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y 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 $120k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $127,285 (25.1% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.77%
• DSCR: 0.97
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $226,050
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 Osel	0.28mi	4/2.0 (+1)	1,270 (-7%)	8mo	$209,511	$165	64
318 Osel St	0.32mi	4/2.0 (+1)	1,524 (+11%)	5mo	$205,000	$135	57

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

Projected returns pro-forma

6.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 2.06×
• Total profit: $50,655
• Equity at exit: $110,674

10-year hold

• IRR: 15.5%
• Equity multiple: 4.14×
• Total profit: $149,513
• Equity at exit: $204,072

Cash invested: $47,600 (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 73061

• Home prices YoY: 2.6%
• Active inventory: 24
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$74 /mo · $884/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-30

Break-even live

Break-even rent $1,311

Max offer price $164,623

Occupancy floor 97%

Sensitivity live

Price	-10% $66	-5% $18	+0% $-30	+5% $-79	+10% $-127
Rent	-10% $-131	-5% $-81	+0% $-30	+5% $20	+10% $70
Rate	-1.0pp $55	-0.5pp $13	base $-30	+0.5pp $-74	+1.0pp $-119

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $170,000 Active 26 DOM
2. 2026-06-19
   days on market $170,000 Active 24 DOM
3. 2026-06-18
   days on market $170,000 Active 23 DOM
4. 2026-06-17
   days on market $170,000 Active 22 DOM
5. 2026-06-16
   days on market $170,000 Active 21 DOM
6. 2026-06-15
   days on market $170,000 Active 20 DOM
7. 2026-06-14
   days on market $170,000 Active 18 DOM
8. 2026-06-13
   days on market $170,000 Active 17 DOM
9. 2026-06-10
   days on market $170,000 Active 15 DOM
10. 2026-06-09
    days on market $170,000 Active 14 DOM
11. 2026-06-09
    days on market $170,000 Active 13 DOM
12. 2026-06-07
    days on market $170,000 Active 12 DOM
13. 2026-06-05
    days on market $170,000 Active 9 DOM
14. 2026-06-03
    days on market $170,000 Active 8 DOM
15. 2026-06-02
    days on market $170,000 Active 7 DOM
16. 2026-06-01
    days on market $170,000 Active 6 DOM
17. 2026-05-31
    days on market $170,000 Active 5 DOM
18. 2026-05-30
    days on market $170,000 Active 4 DOM
19. 2026-05-23
    listed $170,000 Active
20. 2010-07-01
    soldstatus $120,000
21. 2004-12-17
    soldstatus $68,000
22. 2001-07-05
    soldstatus $61,500
23. 2000-07-07
    soldstatus $39,115 200-char remark

    Show marketing remark (200 chars)

    OFFERED AS IS WITH ALL FAULTS NOT INSURABLE BY HUD. BROKERS MAY RECEIVE UP TO 5%COMMISSION. BIDDING PROCEDURES AVAILABLE @WWW.FIRSTPRESTON.COM 421-338846 BLB 405-631-2500 OPENING DATE 6/13/00

24. 2000-06-08
    listed $39,000 200-char remark

    Show marketing remark (200 chars)

    OFFERED AS IS WITH ALL FAULTS NOT INSURABLE BY HUD. BROKERS MAY RECEIVE UP TO 5%COMMISSION. BIDDING PROCEDURES AVAILABLE @WWW.FIRSTPRESTON.COM 421-338846 BLB 405-631-2500 OPENING DATE 6/13/00

ⓘ 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: $884 · $74/mo
• Projected year-2 tax: $1,530 · $127/mo
• Expected delta: +$646/yr (+$54/mo · 73.1%)

ⓘ 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 ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,274
• − Mortgage interest: −$9,523
• − Property taxes: −$884
• − Insurance: −$850
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$4,945
• Taxable loss: −$3,372
• Est. tax savings @ 24.0%: +$809
• After-tax cash flow: $444/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: Morrison
• NCES district ID: 4020340
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $52,900
• Composite: 25.27/100
• National rank: #7495
• State rank: #65 of 270 in OK

Livability — Morrison

• Score: 62/100
• State rank: #267
• US rank: #17077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrison, OK
• Population (ZIP): 1,693

Population outlook (Noble County) Hauer SSP2

• Today (2025): 11,554 people
• By 2030: 11,506 · -0.4%
• By 2040: 11,345 · -1.8%
• By 2050: 11,128 · -3.7%
• By 2075: 10,658 · -7.8%
• By 2100: 9,623 · -16.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 17% Native American 4% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Serbian 3% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Noble

• 2024 margin: Solid R (+57.4) · D 20.4% · R 77.7% · Other 1.9%
• 2008→2024 swing: -3.8pp toward R · 2008: -53.6pp · 2024: -57.4pp
• All cycles: 2024: R+57.4 2020: R+57.1 2016: R+57.6 2012: R+50.6 2008: R+53.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.35%
• Current HPI: 250.534
• 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

+335.9% since first listed

6 events — show timeline

• 2026-05-23 Listed $170,000 SBOR
• 2010-07-01 Sold (Public Records) $120,000 Public Records
• 2004-12-17 Sold (Public Records) $68,000 Public Records
• 2001-07-05 Sold (Public Records) $61,500 Public Records
• 2000-07-07 Sold (MLS) $39,115 MLSOK
• 2000-06-08 Listed $39,000 MLSOK

Property tax history

+2.0%/yr

Latest (2025): $884 · -2.2% YoY. Source: county tax records.