603 W Shawnee St · Tahlequah, OK 74464

$34,900

4 bd · 3.0 ba · 2,299 sqft · SingleFamily public records · 29 Days on market

Built 1930 0.39 ac lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING 1930'S HOME WITH ORIGINAL HARDWOOD, STUCCO, ARCHED DOORWAYS AND 2 FIREPLACES. 4 BEDS, 3.5 BATHS WITH 2 LIVING AREAS HAS ROOM FOR A GROWING FAMILY LOCATED IN THE HEART OF TAHLEQUAH. DETACHED GARAGE, BASEMENT AND CONVENIENT TO SCHOOLS!

Key facts

• Original hardwood
• Sound structure
• 2 fireplaces

Tags

• ORIGINAL HARDWOOD
• ARCHED DOORWAYS
• 2 FIREPLACES
• DETACHED GARAGE
• SOUND STRUCTURE

Property features AI

Exterior

• Parking: Detached garage; Two garage spaces
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Two-story home; Faces north; Basement foundation
• Construction: Brick and wood frame construction; Asphalt/fiberglass roof; Year built per public records
• Exterior features: Patio; Storage structure

Interior

• Kitchen: Built-in range and built-in oven; Oven and range; Dishwasher
• Bedrooms: Master bedroom on first floor with private bath and walk-in closet; Additional bedrooms on first and second floors; Bonus/extra room on second floor
• Flooring: Carpet; Tile; Wood
• Bathrooms: Three full bathrooms; One half bathroom; Hall bath on second floor; Master bath and half bath on first floor
• Heating & cooling: Central heating; Window cooling units
• Interior features: High ceilings; Laminate counters; Aluminum and wood framed windows; Partial basement
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $851 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 35.5% vs local median 4.3% in Tahlequah — 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 66/100 on livability (#124 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D, amenities D, commute F.
• Tahlequah (town): math 27% / reading 25% proficiency, ranked #109 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 367 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $30k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
4. 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.
5. 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.
6. 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: 4.04% ✓
• Cap rate: 35.54%
• Cash-on-cash: 104.47%
• DSCR: 5.65
• GRM: 2.1

CMA / ARV

• ARV (on-the-fly): $204,611
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 W Shawnee St	0.00mi	5/3.5 (+1)	2,299 (0%)	1mo	$32,500	$14	92
321 W Shawnee St	0.18mi	4/2.5	2,216 (-4%)	6mo	$287,000	$130	78
611 W Delaware St	0.09mi	4/2.0	2,186 (-5%)	21mo	$209,000	$96	66
226 N Mission Ave	0.13mi	4/2.5	2,066 (-10%)	15mo	$190,000	$92	63
530 Summit Ave	0.30mi	4/2.5	2,110 (-8%)	23mo	$355,000	$168	51
509 S Cherokee Ave	0.55mi	4/2.5	2,131 (-7%)	14mo	$185,000	$87	48
225 N College Ave	0.31mi	4/2.0	1,954 (-15%)	12mo	$236,000	$121	46
509 Judy Ln	0.62mi	3/3.0 (-1)	2,372 (+3%)	18mo	$91,000	$38	46
320 N Oak Ave	0.73mi	4/4.0	2,298 (-0%)	22mo	$205,000	$89	43
424 W Ross St	0.44mi	3/2.0 (-1)	1,982 (-14%)	11mo	$162,500	$82	38
411 N Oak Ave	0.69mi	4/2.0	2,096 (-9%)	17mo	$187,000	$89	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.73×
• Total profit: $56,017
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 16.62×
• Total profit: $152,620
• Equity at exit: $3,018

Cash invested: $9,772 (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 74464

• Rents YoY: 9.2%
• Active inventory: 367
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$66 /mo · $794/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $851

Break-even live

Break-even rent $334

Max offer price $34,900

Occupancy floor 35%

Sensitivity live

Price	-10% $870	-5% $861	+0% $851	+5% $841	+10% $831
Rent	-10% $739	-5% $795	+0% $851	+5% $906	+10% $962
Rate	-1.0pp $868	-0.5pp $860	base $851	+0.5pp $842	+1.0pp $832

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-07
   status Pending
2. 2026-04-28
   price $34,900
3. 2026-04-21
   price $49,900
4. 2026-04-08
   listed $64,900 Active
5. 2014-06-20
   soldstatus $88,000 242-char remark

   Show marketing remark (242 chars)

   CHARMING 1930'S HOME WITH ORIGINAL HARDWOOD, STUCCO, ARCHED DOORWAYS AND 2 FIREPLACES. 4 BEDS, 3.5 BATHS WITH 2 LIVING AREAS HAS ROOM FOR A GROWING FAMILY LOCATED IN THE HEART OF TAHLEQUAH. DETACHED GARAGE, BASEMENT AND CONVENIENT TO SCHOOLS!

6. 2014-06-20
   soldstatus $88,000

   Show marketing remark (242 chars)

   CHARMING 1930'S HOME WITH ORIGINAL HARDWOOD, STUCCO, ARCHED DOORWAYS AND 2 FIREPLACES. 4 BEDS, 3.5 BATHS WITH 2 LIVING AREAS HAS ROOM FOR A GROWING FAMILY LOCATED IN THE HEART OF TAHLEQUAH. DETACHED GARAGE, BASEMENT AND CONVENIENT TO SCHOOLS!

7. 2014-05-22
   historical 242-char remark

   Show marketing remark (242 chars)

   CHARMING 1930'S HOME WITH ORIGINAL HARDWOOD, STUCCO, ARCHED DOORWAYS AND 2 FIREPLACES. 4 BEDS, 3.5 BATHS WITH 2 LIVING AREAS HAS ROOM FOR A GROWING FAMILY LOCATED IN THE HEART OF TAHLEQUAH. DETACHED GARAGE, BASEMENT AND CONVENIENT TO SCHOOLS!

8. 2014-01-15
   listed $89,900 242-char remark

   Show marketing remark (242 chars)

   CHARMING 1930'S HOME WITH ORIGINAL HARDWOOD, STUCCO, ARCHED DOORWAYS AND 2 FIREPLACES. 4 BEDS, 3.5 BATHS WITH 2 LIVING AREAS HAS ROOM FOR A GROWING FAMILY LOCATED IN THE HEART OF TAHLEQUAH. DETACHED GARAGE, BASEMENT AND CONVENIENT TO SCHOOLS!

9. 2014-01-12
   historical
10. 2013-07-15
    historical
11. 2013-07-12
    listed $89,900
12. 2013-01-14
    listed $99,500
13. 2013-01-14
    historical
14. 2012-07-13
    listed $105,000

ⓘ 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: $794 · $66/mo
• Projected year-2 tax: $794 · $66/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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,928
• − Mortgage interest: −$1,955
• − Property taxes: −$794
• − Insurance: −$174
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$1,015
• Taxable income: $10,281
• Est. tax owed @ 24.0%: −$2,467
• After-tax cash flow: $7,741/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: Tahlequah
• NCES district ID: 4029380
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $32,990
• Composite: 21.28/100
• National rank: #8393
• State rank: #109 of 270 in OK

Livability — Tahlequah

• Score: 66/100
• State rank: #124
• US rank: #12171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tahlequah, OK
• County: Cherokee County · 31,116 people
• City population: 31,116
• Metro: Tahlequah, OK
• Population (ZIP): 31,116
• Household income: $51,262
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1058.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 51,747 people
• By 2030: 53,481 · +3.4%
• By 2040: 56,503 · +9.2%
• By 2050: 59,370 · +14.7%
• By 2075: 67,178 · +29.8%
• By 2100: 70,900 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 41% Native American 35% Two or more races 16% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 6%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+32.6) · D 32.7% · R 65.3% · Other 2.0%
• 2008→2024 swing: -20.4pp toward R · 2008: -12.2pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+29.3 2016: R+27.5 2012: R+14.1 2008: R+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -184.14%
• Current HPI: 226.4004
• Rent YoY: ▲ 9.23%
• Metro: Tahlequah, 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

-66.8% since first listed

14 events — show timeline

• 2026-05-07 Pending — MLS Technology, Inc.
• 2026-04-28 Price Changed $34,900 MLS Technology, Inc.
• 2026-04-21 Price Changed $49,900 MLS Technology, Inc.
• 2026-04-08 Listed $64,900 MLS Technology, Inc.
• 2014-06-20 Sold (Public Records) $88,000 Public Records
• 2014-06-20 Sold (MLS) $88,000 MLS Technology, Inc.
• 2014-05-22 Listing Removed — MLS Technology, Inc.
• 2014-01-15 Listed $89,900 MLS Technology, Inc.
• 2014-01-12 Listing Removed — MLS Technology, Inc.
• 2013-07-15 Listing Removed — MLS Technology, Inc.
• 2013-07-12 Listed $89,900 MLS Technology, Inc.
• 2013-01-14 Listing Removed — MLS Technology, Inc.
• 2013-01-14 Listed $99,500 MLS Technology, Inc.
• 2012-07-13 Listed $105,000 MLS Technology, Inc.

Property tax history

+6.1%/yr

Latest (2025): $794 · -1.7% YoY. Source: county tax records.