300 Cherry St · Chelsea, OK 74016

$20,000

2 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 13 Days on market

Built 1940 0.50 ac 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 +15.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Home in poor condition. This is being priced for the lot only. Build your own home here or remodel the existing house. Being Sold AS IS. 1 Car Block Garage. Chainlink Fence

Key facts

• 0.5 acre lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $595 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($928 rent vs $20k).
• Cap rate 42.0% vs local median 3.8% in Chelsea — 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 61/100 on livability (#314 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Chelsea (rural): math 9% / reading 20% proficiency, ranked #224 of 270 in OK (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 60 active listings in the ZIP; 608 units permitted in Rogers County in 2024 (7 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($138 loan paydown + $2k appreciation (10.0% local appreciation)).
• Rogers County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $10k; list at $20k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $20,000

Questions for the listing agent

1. Built in 1940 — 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: 4.64% ✓
• Cap rate: 41.96%
• Cash-on-cash: 127.39%
• DSCR: 6.67
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $115,460
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 E Hester St	0.22mi	2/1.0	1,096 (+9%)	1mo	$56,250	$51	73
412 E 4th St	0.17mi	2/1.0	998 (-1%)	22mo	$27,000	$27	73
122 E 7th St	0.35mi	2/1.0	1,000 (-0%)	13mo	$137,400	$137	73
202 S Elm St	0.21mi	3/1.0 (+1)	1,046 (+4%)	12mo	$91,000	$87	69
106 Vine St	0.49mi	3/1.5 (+1)	1,046 (+4%)	2mo	$170,000	$163	62
109 E 10th St	0.55mi	2/1.0	1,004 (0%)	16mo	$28,000	$28	61
925 Olive St	0.60mi	2/1.0	1,030 (+3%)	12mo	$145,000	$141	57
816 Olive St	0.51mi	3/2.0 (+1)	1,071 (+7%)	23mo	$145,000	$135	37
515 Beech St	0.62mi	2/1.0	866 (-14%)	22mo	$100,000	$115	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.71×
• Total profit: $48,771
• Equity at exit: $18,018

10-year hold

• IRR: —
• Equity multiple: 21.33×
• Total profit: $113,874
• Equity at exit: $38,856

Cash invested: $5,600 (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 74016

• Home prices YoY: 34.4%
• Active inventory: 60
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $928 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $595

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 31%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-07
   status Pending
2. 2026-03-24
   listed $20,000 Active
3. 1998-04-01
   soldstatus $10,000

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $11,130
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$890
• − Management: −$890
• − Depreciation: −$582
• Taxable income: $7,247
• Est. tax owed @ 24.0%: −$1,739
• After-tax cash flow: $5,395/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: Chelsea
• NCES district ID: 4007380
• Math proficiency: 9% ▼ -11.00%
• Reading proficiency: 20% ▼ -6.00%
• Median HH income: $45,149
• Composite: 12.85/100
• National rank: #9595
• State rank: #224 of 270 in OK

Livability — Chelsea

• Score: 61/100
• State rank: #314
• US rank: #18185

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chelsea, OK
• Population (ZIP): 5,787

Population outlook (Rogers County) Hauer SSP2

• Today (2025): 100,211 people
• By 2030: 104,381 · +4.2%
• By 2040: 111,567 · +11.3%
• By 2050: 116,791 · +16.5%
• By 2075: 129,134 · +28.9%
• By 2100: 132,326 · +32.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 64% Native American 21% Two or more races 12% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Rogers

• 2024 margin: Solid R (+55.0) · D 21.6% · R 76.6% · Other 1.7%
• 2008→2024 swing: -10.9pp toward R · 2008: -44.1pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.9 2016: R+56.3 2012: R+50.1 2008: R+44.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 90.30%
• Current HPI: 353.0
• 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

+100.0% since first listed

3 events — show timeline

• 2026-04-07 Pending — MLS Technology, Inc.
• 2026-03-24 Listed $20,000 MLS Technology, Inc.
• 1998-04-01 Sold (Public Records) $10,000 Public Records

Property tax history

-13.4%/yr

Latest (2025): $20 · +5.3% YoY. Source: county tax records.