3575 Katherine St · Choctaw, OK 73020

$229,900

3 bd · 2.0 ba · 1,489 sqft · SingleFamily public records · 17 Days on market

Built 1962 0.90 ac lot Est $226k · at est.

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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 +14.3/30.0
• ARV discount +6.8/15.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• 1% rule +2.8/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Seller offering $2,000 flooring allowance * * * Sitting on nearly an acre in the Choctaw-Nicoma Park School District, this 3-bedroom, 2-bath home gives you the kind of space that’s getting harder to find. There’s room to breathe, room to unwind, and still the convenience of being just minutes from the elementary and middle school, along with easy access to 23rd Street, the Kickapoo Turnpike, and everyday shopping and dining. Step inside and you’ll notice the fresh paint, new carpet, and natural light that make the home feel clean and welcoming. The galley-style kitchen keeps everything within reach, and just off the kitchen, you’ll find a convenient laundry r

Key facts

• Fresh paint
• New carpet
• Galley-style kitchen

Tags

• NEARLY AN ACRE
• FRESH PAINT
• NEW CARPET
• GALLEY-STYLE KITCHEN
• MATURE TREES
• PARTIALLY FENCED YARD

Property features AI

Finance

• Other: Homestead exemption indicated; Located in Andersons Skyline View addition; No storm shelter; Interior living area reported from assessor
• Financial info: Loan qualifications available (buyer may qualify); Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Security: No specific security features provided
• Utilities: No specific utility provider details provided
• Home design: Single family residence; Residential property; Faces east; One story / entry level: One
• Construction: Brick and frame construction; Composition roof; Built status: Existing
• Exterior features: Open deck; Outbuildings; Chain link fencing; Interior lot

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating or cooling details provided
• Interior features: One-level living; Vacant and move-in ready; Conventional foundation
• Laundry & utility: No specific laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $42 ($509/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 $179k (22.2% below list).
• Recommended offer: $179k (22.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% in Choctaw — 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 71/100 on livability (#31 in OK) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Choctaw-Nicoma Park (suburban): math 28% / reading 32% proficiency, ranked #48 of 270 in OK (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Choctaw Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 349 students, 0% FRL); Choctaw Hs (math 26% / reading 37%, grade F, #73 of 447 statewide, top 16%, 1,811 students, 0% FRL) — zoned schools average 0% FRL vs 34% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 333 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.
• Current owner paid $132k; list at $230k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,970 (22.2% 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 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. 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?
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: 0.78% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $226,328
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3575 Katherine St	0.00mi	3/2.0	1,489 (0%)	0mo	$225,000	$151	100
3511 Cox St	0.25mi	3/1.5	1,462 (-2%)	1mo	$179,900	$123	83
3400 Clarke St	0.19mi	3/2.0	1,399 (-6%)	0mo	$206,000	$147	81
3160 Clarke St	0.33mi	3/1.5	1,442 (-3%)	3mo	$219,500	$152	75
3624 Katherine St	0.04mi	3/2.5	1,294 (-13%)	1mo	$212,500	$164	73
3357 Elizabeth St	0.22mi	3/2.0	1,320 (-11%)	0mo	$230,000	$174	71
2920 Clarke St	0.48mi	3/2.0	1,502 (+1%)	11mo	$237,716	$158	67
3435 Clarke St	0.11mi	3/2.0	1,620 (+9%)	20mo	$246,900	$152	64
2951 Maupin St	0.50mi	3/2.0	1,606 (+8%)	2mo	$305,000	$190	62
2600 Maupin St	0.73mi	3/2.0	1,607 (+8%)	6mo	$195,000	$121	47

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: -15.1%
• Equity multiple: 0.46×
• Total profit: $-34,661
• Equity at exit: $34,279

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-27,139
• Equity at exit: $19,878

Cash invested: $64,372 (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 73020

• Active inventory: 333
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,790 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $42

Break-even live

Break-even rent $1,736

Max offer price $229,900

Occupancy floor 93%

Sensitivity live

Price	-10% $173	-5% $107	+0% $42	+5% $-23	+10% $-88
Rent	-10% $-99	-5% $-28	+0% $42	+5% $113	+10% $184
Rate	-1.0pp $158	-0.5pp $101	base $42	+0.5pp $-17	+1.0pp $-78

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3658 Harper Rd Choctaw, OK	3.0	2.0	1117	$1,450	$1.30	2d	1	0.32mi

Listing history 13 events

1. 2026-05-05
   status Pending
2. 2026-04-18
   listed $229,900 Active
3. 2026-04-09
   historical
4. 2026-04-02
   status Active
5. 2026-03-15
   status Pending
6. 2026-03-11
   price $219,000
7. 2026-02-20
   price $229,000
8. 2026-01-16
   status Active
9. 2026-01-09
   status Pending
10. 2025-12-21
    price $234,000
11. 2025-11-10
    price $239,900
12. 2025-10-25
    listed $247,900 Active
13. 2025-09-16
    soldstatus $132,500

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $2,069 · $172/mo
• Expected delta: +$1,228/yr (+$102/mo · 146.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 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: $21,476
• − Mortgage interest: −$12,878
• − Property taxes: −$841
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$6,688
• Taxable loss: −$3,516
• Est. tax savings @ 24.0%: +$844
• After-tax cash flow: $1,352/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: Choctaw-Nicoma Park
• NCES district ID: 4007620
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 32% ▼ -12.00%
• Median HH income: $69,072
• Composite: 28.02/100
• National rank: #6847
• State rank: #48 of 270 in OK

Livability — Choctaw

• Score: 71/100
• State rank: #31
• US rank: #6853

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Choctaw, OK
• County: Oklahoma County · 771,644 people
• City population: 25,645
• Metro: Oklahoma City, OK
• Population (ZIP): 25,645
• Household income: $104,601
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 258.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 8% Hispanic / Latino 6% Black 5% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -131.61%
• Current HPI: 240.9989
• Rent YoY: —
• Metro: Oklahoma City, 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

+73.5% since first listed

13 events — show timeline

• 2026-05-05 Pending — MLSOK
• 2026-04-18 Listed $229,900 MLSOK
• 2026-04-09 Listing Removed — MLSOK
• 2026-04-02 Relisted — MLSOK
• 2026-03-15 Pending — MLSOK
• 2026-03-11 Price Changed $219,000 MLSOK
• 2026-02-20 Price Changed $229,000 MLSOK
• 2026-01-16 Relisted — MLSOK
• 2026-01-09 Pending — MLSOK
• 2025-12-21 Price Changed $234,000 MLSOK
• 2025-11-10 Price Changed $239,900 MLSOK
• 2025-10-25 Listed $247,900 MLSOK
• 2025-09-16 Sold (Public Records) $132,500 Public Records

Property tax history

-0.2%/yr

Latest (2025): $841 · +0.7% YoY. Source: county tax records.