16029 SE 28th St · Choctaw, OK 73020

$195,000

3 bd · 1.0 ba · 1,430 sqft · SingleFamily public records · 2 Days on market

Built 1964 0.81 ac lot Est $267k · 27% under

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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 +21.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Peaceful, country, tri-level retreat on .81 acres within Choctaw School district with 3 beds, 1 bath, fireplace, office, large laundry room and screened-in back porch. Kitchen, dining and living on main level, office & laundry on ground level, all three bedrooms and bathroom on the upper level. RECENT UPGRADES INCLUDE HEAT PUMP, ROOF, HOT WATER TANK, SIDING, WELL PUMP and WINDOWS!!! There is a horse stall at the back of the property.

Key facts

• Great location
• Updated bathrooms
• Updated kitchen

Tags

• VEGETABLE GARDEN
• UPDATED KITCHEN
• UPDATED BATHROOMS
• GREAT LOCATION

Property features AI

Finance

• Other: Homestead exemption applied; Located in Sandwood Acres addition
• Financial info: Loan qualification available; Property is not assumable; Annual tax amount listed (financial details excluded per instructions)
• HOA & community: No mandatory association dues

Exterior

• Parking: One-car garage
• Security: No storm shelter
• Utilities: No special flood insurance required (not in flood); Water, sewer, and power details not specified
• Home design: Single family residence; Residential property facing south; Multi-level property; Entry level not specified
• Construction: Brick and frame construction; Shingle roof (replaced or updated in 2013); Combination foundation; Built status: existing
• Exterior features: Covered patio; Chain link fencing; Interior lot

Interior

• Kitchen: No specific appliances listed
• Bedrooms: Three bedrooms
• Flooring: No flooring information listed
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating
• Interior features: Living area with one living area; Covered patio; Wood-burning fireplace
• Laundry & utility: No specific laundry or utility details listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/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 $189k (3.0% below list).
• Recommended offer: $189k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: Indian Meridian Es (560 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: 326 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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.
• Current owner paid $105k; list at $195k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,184 (3.0% below list)

Questions for the listing agent

1. Built in 1964 — 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. 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: 0.97% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.01%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $267,410
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2742 S Sandwood Ave	0.16mi	3/1.5	1,404 (-2%)	3mo	$180,000	$128	85
16216 SE 26th St	0.13mi	4/1.0 (+1)	1,482 (+4%)	1mo	$196,300	$132	82
2533 Moran Rd	0.55mi	2/2.0 (-1)	1,413 (-1%)	2mo	$239,900	$170	62
3900 S Indian Meridian Rd	0.71mi	3/1.0	1,353 (-5%)	2mo	$295,500	$218	56
16693 SE 27th St	0.54mi	4/1.5 (+1)	1,468 (+3%)	10mo	$274,900	$187	55
15855 Leslie Rd	0.62mi	2/1.0 (-1)	1,500 (+5%)	11mo	$325,000	$217	49

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-14,232
• Equity at exit: $29,075

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $9,832
• Equity at exit: $16,860

Cash invested: $54,600 (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 73020

• Active inventory: 326
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,892 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$117 /mo · $1,407/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $273

Break-even live

Break-even rent $1,546

Max offer price $195,000

Occupancy floor 81%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-13
   statusdays on market $195,000 Pending 2 DOM
2. 2026-06-10
   remarks 342-char remark
3. 2026-06-10
   listed $195,000 Active 1 DOM

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

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $1,407 · $117/mo
• Projected year-2 tax: $1,755 · $146/mo
• Expected delta: +$348/yr (+$29/mo · 24.7%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $22,702
• − Mortgage interest: −$10,923
• − Property taxes: −$1,407
• − Insurance: −$975
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − Depreciation: −$5,673
• Taxable income: $92
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $3,259/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

+200.0% since first listed

8 events — show timeline

• 2026-06-03 Listed $195,000 MLSOK
• 2019-08-06 Sold (Public Records) $105,000 Public Records
• 2019-08-02 Sold (MLS) $105,000 MLSOK
• 2019-07-09 Pending — MLSOK
• 2019-06-26 Price Changed $110,000 MLSOK
• 2019-06-01 Price Changed $115,000 MLSOK
• 2019-05-13 Listed $125,000 MLSOK
• 1986-06-01 Sold (Public Records) $65,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,407 · +4.0% YoY. Source: county tax records.