193 N Cedar Ave · Terlton, OK 74081

$75,000

3 bd · 1.0 ba · 1,422 sqft · SingleFamily public records · 4 Days on market

Built 1924 0.96 ac lot ↓ 40% since listing

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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
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Unique investment opportunity in downtown Terlton! This 3-bedroom, 1-bath, two-story home with a detached 2-car garage has been completely demoed down to the studs, offering a blank slate to finish exactly the way you want. The property includes two lots with the home, two additional connecting lots, plus eight more lots just one block away, all selling together. With endless potential for redevelopment, rental income, or a custom renovation project, this is a rare chance to secure multiple lots (12 total) and a great investment in one package.

Key facts

• Two lots
• Downtown terlton
• Rental income

Tags

• INVESTMENT OPPORTUNITY
• DOWNTOWN TERLTON
• TWO LOTS
• ADDITIONAL CONNECTING LOTS
• REDEVELOPMENT POTENTIAL
• RENTAL INCOME

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Security: No safety shelter
• Utilities: Septic tank; Rural water
• Home design: 2-story wood frame residence with wood siding; Faces east; Basement present
• Construction: Built (year per public records); Wood siding and wood frame construction; Asphalt/fiberglass roof; Basement foundation
• Exterior features: Concrete driveway; Corner lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No safety shelter (security listing noted)
• Interior features: Wood frame windows; No notable additional interior features listed
• Laundry & utility: No hot water (listed under appliances)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).

Location & tenants

• Location reads 57/100 on livability (#471 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Cleveland (town): math 21% / reading 19% proficiency, ranked #169 of 270 in OK (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 23 active listings in the ZIP; 3 units permitted in Pawnee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $2k appreciation (3.0% local appreciation)).
• Pawnee County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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

• Watch-outs: built in 1924 — 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 $75,000

Questions for the listing agent

1. Built in 1924 — 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 F 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. 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: 1.82% ✓
• Cap rate: 15.24%
• Cash-on-cash: 31.96%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 37.7%
• Equity multiple: 3.13×
• Total profit: $44,681
• Equity at exit: $33,723

10-year hold

• IRR: 37.8%
• Equity multiple: 6.20×
• Total profit: $109,171
• Equity at exit: $51,972

Cash invested: $21,000 (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 74081

• Active inventory: 23
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $559

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 54%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-18
   days on market $75,000 Active 4 DOM
2. 2026-06-17
   days on market $75,000 Active 3 DOM
3. 2026-06-16
   days on market $75,000 Active 2 DOM
4. 2026-06-15
   remarks 550-char remark
5. 2026-06-15
   listed $75,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥111°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,369
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$2,182
• Taxable income: $5,867
• Est. tax owed @ 24.0%: −$1,408
• After-tax cash flow: $5,304/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: Cleveland
• NCES district ID: 4008040
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 19% ▼ -11.00%
• Median HH income: $45,642
• Composite: 17.52/100
• National rank: #9049
• State rank: #169 of 270 in OK

Livability — Terlton

• Score: 57/100
• State rank: #471
• US rank: #21898

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Terlton, OK
• Population (ZIP): 2,008

Population outlook (Pawnee County) Hauer SSP2

• Today (2025): 16,219 people
• By 2030: 16,028 · -1.2%
• By 2040: 15,724 · -3.1%
• By 2050: 15,563 · -4.0%
• By 2075: 15,905 · -1.9%
• By 2100: 16,058 · -1.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Native American 6%
• Common ancestry: Slovak 2% Scottish 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Pawnee

• 2024 margin: Solid R (+58.9) · D 19.7% · R 78.6% · Other 1.7%
• 2008→2024 swing: -21.4pp toward R · 2008: -37.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+57.5 2016: R+53.2 2012: R+40.0 2008: R+37.4

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

-40.0% since first listed

6 events — show timeline

• 2026-06-12 Listed $75,000 MLS Technology, Inc.
• 2025-12-03 Listing Removed — MLS Technology, Inc.
• 2024-12-03 Listing Removed — MLS Technology, Inc.
• 2024-12-03 Listed $99,500 MLS Technology, Inc.
• 2024-07-11 Price Changed $99,500 MLS Technology, Inc.
• 2024-06-12 Listed $125,000 MLS Technology, Inc.

Property tax history

-12.1%/yr

Latest (2025): $72 · +7.5% YoY. Source: county tax records.