9300 NE 46th St · Spencer, OK 73084

$206,400

3 bd · 2.0 ba · 1,428 sqft · SingleFamily public records · 9 Days on market

Built 1962 0.33 ac lot $145/sqft · 32% above area Est $158k · 31% 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 +15.4/30.0
• Appreciation +10.0/10.0
• DSCR +4.7/10.0
• 1% rule +3.3/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Nestled on a large corner lot, this spacious HUD home, is ready for someone with a vision who can see it's potential. Home is sold AS-IS and although county assessor shows 3 bedrooms, this home features 4 bedrooms and one full and one half bathrooms, providing convenience for all. This split floor plan offers privacy and functionality. The kitchen is open with an eat-in breakfast nook, a separate dining room and large living room. The large backyard and patio could be great for relaxing. The double gate on one side gives backyard access for larger recreational vehicles. This home needs some TLC so bring your vision and tools! Bidding currently open exclusively to owner occupants, non-profits and government agencies until 08/28/2025. Will open up to all bidders, including investors 08/29/2025. Agents must register to place bids on behalf of buyers.

Key facts

• New garage doors
• Corner lot home
• Updated look

Tags

• CORNER LOT HOME
• UPDATED LOOK
• NEW PAINT
• CEDAR ACCENTS
• NEW GARAGE DOORS
• NEW FRONT DOOR

Property features AI

Finance

• Other: Directions: Off of Douglas between NE 36th and NE 50th; from Douglas at NE 36th go to NE 46th, east to Baker St — home is the corner lot on the south side of NE 46th; Open house scheduled: Public Sat May 2, 12:00 PM–2:00 PM
• Financial info: Financing options include Cash, Conventional, FHA/VA acceptable; Loan qualification possible; Assumable: No
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: Water/sewer/power: not specified
• Home design: Single family residence; One level
• Construction: Brick and frame construction; Masonry veneer; Shingle roof; Built status: existing
• Exterior features: Covered patio; Covered porch; Outbuildings; Wood fence; Corner lot

Interior

• Kitchen: Remodeled kitchen
• Bedrooms: 4 bedrooms total; Primary bedroom includes a half bath; One bedroom with bay window and bonus room
• Bathrooms: 1 full bath; 1 half bath (in primary bedroom)
• Interior features: Remodeled kitchen; Remodeled dining room; Remodeled living room; Ceiling fans in living room and multiple bedrooms; Living area: 1,448 (source: appraisal); No fireplace
• Laundry & utility: Slab foundation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $206k.

Deal economics

• At list price, monthly cash flow is $79 ($952/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (16.9% below list).
• Recommended offer: $172k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 53/100 on livability (#615 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Star Spencer Hs (math 5% / reading 5%, grade F, #430 of 447 statewide, top 99%, 378 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 50 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $58k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 21y 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: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,579 (16.9% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.83% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 10.0

CMA / ARV

• ARV (median comp): $157,965
• List price: $206,400
• Delta: 30.66%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9300 NE 46th St	0.00mi	4/1.5 (+1)	1,448 (+1%)	0mo	$200,000	$138	90
4808 Able St	0.18mi	3/2.0	1,420 (-1%)	3mo	$169,000	$119	88
9312 46th St	0.06mi	3/2.0	1,342 (-6%)	10mo	$147,590	$110	79
4905 Woodland Park Ter	0.36mi	3/2.0	1,435 (+0%)	10mo	$169,900	$118	74
9305 NE 42nd St	0.22mi	3/1.0	1,554 (+9%)	8mo	$90,000	$58	65
8726 Silver Creek Dr	0.59mi	3/2.0	1,379 (-3%)	4mo	$130,000	$94	63
8912 NE 46th St	0.31mi	3/2.0	1,255 (-12%)	3mo	$178,000	$142	63
8734 Silver Creek Dr	0.57mi	3/1.5	1,449 (+2%)	10mo	$85,000	$59	61
4605 Woodland Park Ter	0.32mi	3/1.5	1,292 (-10%)	16mo	$147,000	$114	54
8812 NE 45 St	0.39mi	4/2.0 (+1)	1,268 (-11%)	15mo	$158,000	$125	45
8929 NE 52nd St	0.56mi	3/2.0	1,304 (-9%)	20mo	$153,500	$118	43
8614 NE 50th St	0.72mi	2/1.5 (-1)	1,338 (-6%)	21mo	$164,300	$123	32

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.03×
• Total profit: $117,397
• Equity at exit: $185,941

10-year hold

• IRR: 22.4%
• Equity multiple: 6.91×
• Total profit: $341,610
• Equity at exit: $400,990

Cash invested: $57,792 (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 73084

• Home prices YoY: 24.3%
• Active inventory: 50
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,716 medium
• Mortgage (P&I): −$1,082
• Tax from tax record: −$108 /mo · $1,293/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $79

Break-even live

Break-even rent $1,615

Max offer price $206,400

Occupancy floor 90%

Sensitivity live

Price	-10% $196	-5% $138	+0% $79	+5% $21	+10% $-38
Rent	-10% $-56	-5% $12	+0% $79	+5% $147	+10% $215
Rate	-1.0pp $183	-0.5pp $132	base $79	+0.5pp $26	+1.0pp $-29

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: $51,600
• Closing costs: $6,192
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4800 Spencer Rd Spencer, OK	3.0	1.5	1742	$1,675	$0.96	44d	1	0.76mi
2823 Juvene Cir Spencer, OK	3.0	2.0	1080	$1,800	$1.67	4d	1	1.45mi

Listing history 25 events

1. 2026-05-06
   status Pending 1899-char remark
2. 2026-04-23
   listed $206,400 Active 1899-char remark
3. 2025-10-03
   soldstatus $95,000 Closed 861-char remark

   Show marketing remark (861 chars)

   Nestled on a large corner lot, this spacious HUD home, is ready for someone with a vision who can see it's potential. Home is sold AS-IS and although county assessor shows 3 bedrooms, this home features 4 bedrooms and one full and one half bathrooms, providing convenience for all. This split floor plan offers privacy and functionality. The kitchen is open with an eat-in breakfast nook, a separate dining room and large living room. The large backyard and patio could be great for relaxing. The double gate on one side gives backyard access for larger recreational vehicles. This home needs some TLC so bring your vision and tools! Bidding currently open exclusively to owner occupants, non-profits and government agencies until 08/28/2025. Will open up to all bidders, including investors 08/29/2025. Agents must register to place bids on behalf of buyers.

4. 2025-09-04
   status Pending 861-char remark

   Show marketing remark (861 chars)

   Nestled on a large corner lot, this spacious HUD home, is ready for someone with a vision who can see it's potential. Home is sold AS-IS and although county assessor shows 3 bedrooms, this home features 4 bedrooms and one full and one half bathrooms, providing convenience for all. This split floor plan offers privacy and functionality. The kitchen is open with an eat-in breakfast nook, a separate dining room and large living room. The large backyard and patio could be great for relaxing. The double gate on one side gives backyard access for larger recreational vehicles. This home needs some TLC so bring your vision and tools! Bidding currently open exclusively to owner occupants, non-profits and government agencies until 08/28/2025. Will open up to all bidders, including investors 08/29/2025. Agents must register to place bids on behalf of buyers.

5. 2025-08-15
   listed $87,500 Active 861-char remark

   Show marketing remark (861 chars)

   Nestled on a large corner lot, this spacious HUD home, is ready for someone with a vision who can see it's potential. Home is sold AS-IS and although county assessor shows 3 bedrooms, this home features 4 bedrooms and one full and one half bathrooms, providing convenience for all. This split floor plan offers privacy and functionality. The kitchen is open with an eat-in breakfast nook, a separate dining room and large living room. The large backyard and patio could be great for relaxing. The double gate on one side gives backyard access for larger recreational vehicles. This home needs some TLC so bring your vision and tools! Bidding currently open exclusively to owner occupants, non-profits and government agencies until 08/28/2025. Will open up to all bidders, including investors 08/29/2025. Agents must register to place bids on behalf of buyers.

6. 2025-07-25
   historical
7. 2024-12-05
   listed $136,900 Active
8. 2016-05-11
   soldstatus $80,000
9. 2016-05-09
   soldstatus $80,000 Sold
10. 2016-04-08
    status Pending
11. 2016-04-06
    listed $80,000 Active
12. 2015-06-06
    historical
13. 2015-06-06
    status Pending
14. 2015-04-02
    listed $84,900 Active
15. 2011-11-04
    historical
16. 2011-04-29
    listed $81,900
17. 2010-06-07
    soldstatus $79,000
18. 2010-06-04
    soldstatus $79,000
19. 2010-04-23
    listed $89,000
20. 2010-01-22
    soldstatus $31,000
21. 2009-10-16
    listed $39,900
22. 2005-11-28
    soldstatus $80,000
23. 2005-11-22
    soldstatus $80,000
24. 2005-06-11
    listed $84,900
25. 1976-10-01
    soldstatus $20,533

ⓘ 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: $1,293 · $108/mo
• Projected year-2 tax: $1,858 · $155/mo
• Expected delta: +$564/yr (+$47/mo · 43.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $20,589
• − Mortgage interest: −$11,562
• − Property taxes: −$1,293
• − Insurance: −$1,032
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$6,004
• Taxable loss: −$2,596
• Est. tax savings @ 24.0%: +$623
• After-tax cash flow: $1,575/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: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 of 270 in OK

Livability — Spencer

• Score: 53/100
• State rank: #615
• US rank: #24440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spencer, OK
• Population (ZIP): 6,296

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 52% White 24% Hispanic / Latino 16% Two or more races 12% Native American 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 14%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 53.65%
• Current HPI: 274.4301
• 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

+874.0% since first listed

26 events — show timeline

• 2026-06-05 Sold (MLS) $200,000 MLSOK
• 2026-05-06 Pending — MLSOK
• 2026-04-23 Listed $206,400 MLSOK
• 2025-10-03 Sold (MLS) $95,000 MLSOK
• 2025-09-04 Pending — MLSOK
• 2025-08-15 Listed $87,500 MLSOK
• 2025-07-25 Listing Removed — MLSOK
• 2024-12-05 Listed $136,900 MLSOK
• 2016-05-11 Sold (Public Records) $80,000 Public Records
• 2016-05-09 Sold (MLS) $80,000 MLSOK
• 2016-04-08 Pending — MLSOK
• 2016-04-06 Listed $80,000 MLSOK
• 2015-06-06 Listing Removed — MLSOK
• 2015-06-06 Pending — MLSOK
• 2015-04-02 Listed $84,900 MLSOK
• 2011-11-04 Listing Removed — MLSOK
• 2011-04-29 Listed $81,900 MLSOK
• 2010-06-07 Sold (Public Records) $79,000 Public Records
• 2010-06-04 Sold (MLS) $79,000 MLSOK
• 2010-04-23 Listed $89,000 MLSOK
• 2010-01-22 Sold (MLS) $31,000 MLSOK
• 2009-10-16 Listed $39,900 MLSOK
• 2005-11-28 Sold (Public Records) $80,000 Public Records
• 2005-11-22 Sold (MLS) $80,000 MLSOK
• 2005-06-11 Listed $84,900 MLSOK
• 1976-10-01 Sold (Public Records) $20,533 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,293 · +13.8% YoY. Source: county tax records.