705 Chickasaw St · Bernice, OK 74331

$135,000

3 bd · 1.0 ba · 1,366 sqft · SingleFamily public records · 114 Days on market

Built 2000 10,800 sqft lot

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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 +18.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

Welcome to your Grand Lake getaway! This beautifully updated 3-bedroom, 2-bath home offers lake access and all the comforts of modern living. Fresh interior and exterior paint, newer flooring throughout, and a freshly finished deck make this home truly move-in ready. The open-concept layout creates a bright, inviting space perfect for entertaining or relaxing after a day on the water. The kitchen comes fully equipped, and all appliances stay! The primary suite provides a peaceful retreat, while two additional bedrooms offer flexibility for guests, a home office, or hobbies. Outside, you'll love the attached garage, large workshop, and extra storage building—ideal for lake

Key facts

• Attached garage
• Updated home
• Lake access

Tags

• LAKE ACCESS
• UPDATED HOME
• FRESHLY FINISHED DECK
• OPEN-CONCEPT LAYOUT
• FULLY EQUIPPED KITCHEN
• ATTACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Security: Smoke detectors; No safety shelter
• Utilities: Electricity available; Public water; Septic tank sewer
• Home design: Single-story; Faces east; Slab foundation; Vinyl siding with wood frame construction; Asphalt/fiberglass roof
• Construction: Built (year per public records); Vinyl siding; Wood frame; Asphalt/fiberglass roof; Slab foundation
• Exterior features: Concrete driveway; Covered porch; Workshop; Partial fencing; Mature trees; Boat ramp/lift access (Grand Lake, less than 1 mile away)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Electric water heater
• Flooring: Tile; Wood veneer
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Laminate countertops; Vinyl window frames; Electric oven and range connections; Disposal
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/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 $119k (11.9% below list).
• Recommended offer: $119k (11.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#346 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Afton (rural): math 16% / reading 18% proficiency, ranked #206 of 270 in OK (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Afton Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 305 students, 0% FRL); Afton Hs (math 15% / reading 15%, grade F, #323 of 447 statewide, top 74%, 172 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 150 active listings in the ZIP; 51 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Delaware County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $135k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,876 (11.9% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.3%
• Equity multiple: 3.17×
• Total profit: $81,920
• Equity at exit: $121,619

10-year hold

• IRR: 23.8%
• Equity multiple: 7.20×
• Total profit: $234,472
• Equity at exit: $262,275

Cash invested: $37,800 (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 74331

• Home prices YoY: 11.1%
• Active inventory: 150
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,189 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$42 /mo · $506/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $133

Break-even live

Break-even rent $1,021

Max offer price $135,000

Occupancy floor 84%

Sensitivity live

Price	-10% $209	-5% $171	+0% $133	+5% $95	+10% $56
Rent	-10% $39	-5% $86	+0% $133	+5% $180	+10% $227
Rate	-1.0pp $201	-0.5pp $167	base $133	+0.5pp $98	+1.0pp $62

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $135,000 Active 114 DOM
2. 2026-06-21
   days on market $135,000 Active 113 DOM
3. 2026-06-18
   days on market $135,000 Active 111 DOM
4. 2026-06-17
   days on market $135,000 Active 110 DOM
5. 2026-06-16
   days on market $135,000 Active 109 DOM
6. 2026-06-15
   days on market $135,000 Active 108 DOM
7. 2026-06-13
   days on market $135,000 Active 106 DOM
8. 2026-06-12
   days on market $135,000 Active 105 DOM
9. 2026-06-09
   days on market $135,000 Active 102 DOM
10. 2026-06-08
    days on market $135,000 Active 101 DOM
11. 2026-06-08
    days on market $135,000 Active 100 DOM
12. 2026-06-05
    days on market $135,000 Active 98 DOM
13. 2026-06-04
    days on market $135,000 Active 96 DOM
14. 2026-06-02
    days on market $135,000 Active 95 DOM
15. 2026-06-01
    days on market $135,000 Active 94 DOM
16. 2026-05-31
    days on market $135,000 Active 93 DOM
17. 2026-05-15
    price $135,000
18. 2026-04-06
    status Active
19. 2025-11-21
    status Pending
20. 2025-11-10
    price $140,000
21. 2025-10-14
    listed $150,000 Active
22. 2008-07-15
    soldstatus $36,000

ⓘ 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: $506 · $42/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$709/yr (+$59/mo · 140.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $14,265
• − Mortgage interest: −$7,562
• − Property taxes: −$506
• − Insurance: −$675
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$3,927
• Taxable loss: −$688
• Est. tax savings @ 24.0%: +$165
• After-tax cash flow: $1,758/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: Afton
• NCES district ID: 4002520
• Math proficiency: 16% ▼ -8.00%
• Reading proficiency: 18% ▼ -9.00%
• Median HH income: $37,117
• Composite: 14.19/100
• National rank: #9453
• State rank: #206 of 270 in OK

Livability — Bernice

• Score: 60/100
• State rank: #346
• US rank: #18861

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bernice, OK
• Population (ZIP): 7,110

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 41,302 people
• By 2030: 40,888 · -1.0%
• By 2040: 39,802 · -3.6%
• By 2050: 38,839 · -6.0%
• By 2075: 37,438 · -9.4%
• By 2100: 34,910 · -15.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Native American 14% Two or more races 12% Hispanic / Latino 2%
• Common ancestry: Italian 3% Slovak 2% Serbian 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Delaware

• 2024 margin: Solid R (+60.4) · D 19.2% · R 79.6% · Other 1.2%
• 2008→2024 swing: -26.6pp toward R · 2008: -33.8pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.5 2016: R+54.1 2012: R+41.3 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 32.91%
• Current HPI: 329.9447
• 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

6 events — show timeline

• 2026-05-15 Price Changed $135,000 MLS Technology, Inc.
• 2026-04-06 Relisted — MLS Technology, Inc.
• 2025-11-21 Pending — MLS Technology, Inc.
• 2025-11-10 Price Changed $140,000 MLS Technology, Inc.
• 2025-10-14 Listed $150,000 MLS Technology, Inc.
• 2008-07-15 Sold (Public Records) $36,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $506 · +4.1% YoY. Source: county tax records.