502 Granite St · Pawnee, OK 74058

$85,000

3 bd · 3.0 ba · 2,496 sqft · SingleFamily public records · 20 Days on market

Built 1959 0.26 ac lot Est $77k · 10% over ↓ 29% 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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Appreciation +5.0/10.0
• Livability +3.3/5.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

2500 SF mol with Detached 2 car garage. Room lots of room. Possibly could be converted into a duplex. This home sits on 1 full and part of 2 other lots. If you are ready for a project with a big up-side check this out. 1/2 block from downtown Pawnee and the County​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ courthouse.

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1959

Tags

• DETACHED 2 CAR GARAGE
• 1/2 BLOCK FROM DOWNTOWN PAWNEE

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Detached garage with storage; 2-car garage
• Security: Interior safe room
• Utilities: Electricity available; Natural gas available; Public water; Public sewer; Phone available
• Home design: Single-story; Brick and wood-frame construction; Slab foundation
• Construction: Built (year per public records); Asphalt/fiberglass roof
• Exterior features: Covered patio and porch; Porch; Dog run; Partial fencing; Corner lot; Faces east; Safe room (interior)

Interior

• Kitchen: Oven
• Flooring: Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Aluminum window frames; Laminate countertops; Tile flooring; Wood-burning fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#116 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Pawnee (rural): math 16% / reading 23% proficiency, ranked #176 of 270 in OK (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pawnee Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 309 students, 0% FRL); Pawnee Ms (math 8% / reading 22%, grade F, #226 of 345 statewide, top 67%, 143 students, 0% FRL); Pawnee Hs (math 24% / reading 34%, grade F, #96 of 447 statewide, top 26%, 181 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 43 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 ($588 loan paydown + $3k 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 $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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: 1.49% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.83%
• DSCR: 1.97
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $77,376
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Cleveland St	0.33mi	4/2.0 (+1)	2,552 (+2%)	2mo	$80,000	$31	70

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 2.59×
• Total profit: $37,816
• Equity at exit: $38,220

10-year hold

• IRR: 28.6%
• Equity multiple: 5.03×
• Total profit: $96,006
• Equity at exit: $58,901

Cash invested: $23,800 (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 74058

• Active inventory: 43
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $433

Break-even live

Break-even rent $718

Max offer price $85,000

Occupancy floor 61%

Sensitivity live

Price	-10% $481	-5% $457	+0% $433	+5% $409	+10% $385
Rent	-10% $333	-5% $383	+0% $433	+5% $483	+10% $533
Rate	-1.0pp $476	-0.5pp $454	base $433	+0.5pp $411	+1.0pp $388

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $85,000 Active 20 DOM
2. 2026-06-21
   days on market $85,000 Active 19 DOM
3. 2026-06-18
   days on market $85,000 Active 17 DOM
4. 2026-06-17
   days on market $85,000 Active 16 DOM
5. 2026-06-16
   days on market $85,000 Active 15 DOM
6. 2026-06-15
   days on market $85,000 Active 14 DOM
7. 2026-06-13
   days on market $85,000 Active 12 DOM
8. 2026-06-12
   days on market $85,000 Active 11 DOM
9. 2026-06-09
   days on market $85,000 Active 8 DOM
10. 2026-06-08
    days on market $85,000 Active 7 DOM
11. 2026-06-08
    days on market $85,000 Active 6 DOM
12. 2026-06-05
    days on market $85,000 Active 4 DOM
13. 2026-06-04
    days on market $85,000 Active 2 DOM
14. 2026-06-01
    remarks 308-char remark
15. 2026-06-01
    days on marketlisting id $85,000 Active 1 DOM
16. 2026-03-13
    price $85,000
17. 2026-01-17
    price $90,000
18. 2026-01-13
    price $95,000
19. 2025-11-28
    price $99,000
20. 2025-08-24
    price $105,000
21. 2025-07-16
    price $110,000
22. 2025-06-01
    listed $120,000 Active

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,186
• − Mortgage interest: −$4,761
• − Property taxes: −$1,028
• − Insurance: −$425
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$2,473
• Taxable income: $4,069
• Est. tax owed @ 24.0%: −$977
• After-tax cash flow: $4,218/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: Pawnee
• NCES district ID: 4023610
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 23% ▼ -5.00%
• Median HH income: $39,841
• Composite: 16.5/100
• National rank: #9184
• State rank: #176 of 270 in OK

Livability — Pawnee

• Score: 66/100
• State rank: #116
• US rank: #11883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pawnee, OK
• Population (ZIP): 3,558

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 (71%)
• Race & ethnicity: White 71% Native American 16% Two or more races 11% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Serbian 3% Slovak 3%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 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

-29.2% since first listed

7 events — show timeline

• 2026-03-13 Price Changed $85,000 MLS Technology, Inc.
• 2026-01-17 Price Changed $90,000 MLS Technology, Inc.
• 2026-01-13 Price Changed $95,000 MLS Technology, Inc.
• 2025-11-28 Price Changed $99,000 MLS Technology, Inc.
• 2025-08-24 Price Changed $105,000 MLS Technology, Inc.
• 2025-07-16 Price Changed $110,000 MLS Technology, Inc.
• 2025-06-01 Listed $120,000 MLS Technology, Inc.

Property tax history

+2.2%/yr

Latest (2025): $1,028 · -5.4% YoY. Source: county tax records.