1371 N 1st St · Harrah, OK 73045

$100,000

2 bd · 1.0 ba · 968 sqft · SingleFamily public records · 42 Days on market

Built 1918 0.44 ac lot Est $148k · 32% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2bed/1 bath frame structure with a great layout all on .4362 acres(mol). Large living area and inside laundry room. Detached garage. Large kitchen with tons of storage. Has a lot of potential. Will not qualify for financing. Selling "As Is" $1000 EM and proof of funds with all offers. Buyer to verify all information.

Key facts

• Covered front porch
• Inside utility area
• Covered back patio

Tags

• COVERED FRONT PORCH
• COVERED BACK PATIO
• BELOW-GROUND STORM SHELTER
• INSIDE UTILITY AREA
• BONUS SPACE
• GENEROUSLY SIZED KITCHEN

Property features AI

Finance

• Financial info: Sold As-Is; Seller may offer financing
• HOA & community: No mandatory association dues

Exterior

• Parking: Asphalt parking; 1-car garage
• Utilities: Natural gas available; Public utilities; Septic tank
• Home design: Single-family residence; One-story; East-facing
• Construction: Frame construction with vinyl siding; Composition roof (replaced/installed in 2022); Conventional foundation; Existing property
• Exterior features: Covered patio; Covered porch; Rain gutters; Chain link fence; Below-ground outdoor storm shelter

Interior

• Kitchen: Free-standing electric range/oven; Dishwasher; Microwave; Garbage disposal; Water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: Ceiling fan(s); Smoke alarm

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.3% in Harrah — 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 64/100 on livability (#163 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Harrah (town): math 24% / reading 29% proficiency, ranked #82 of 270 in OK (top 30%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Clara Reynolds Es (math 27% / reading 27%, grade F, #311 of 845 statewide, top 40%, 313 students, 0% FRL); Harrah Hs (math 27% / reading 27%, grade F, #125 of 447 statewide, top 31%, 630 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 192 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $26k; list at $100k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• 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 $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.43% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.73%
• DSCR: 1.92
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $148,104
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1724 N Dobbs Rd	0.67mi	2/1.0	952 (-2%)	3mo	$129,500	$136	64
1222 N 2nd St	0.12mi	3/1.0 (+1)	857 (-12%)	13mo	$155,000	$181	59
20781 North St	0.60mi	2/1.0	890 (-8%)	13mo	$145,000	$163	48
20332 Walker St	0.59mi	3/1.5 (+1)	1,051 (+9%)	4mo	$85,000	$81	48
1930 Sweeney Rd	0.55mi	2/1.0	1,047 (+8%)	15mo	$160,000	$153	48

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: 13.1%
• Equity multiple: 1.52×
• Total profit: $14,604
• Equity at exit: $14,910

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $52,375
• Equity at exit: $8,646

Cash invested: $28,000 (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 73045

• Home prices YoY: -16.9%
• Active inventory: 192
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,434 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$83 /mo · $996/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $484

Break-even live

Break-even rent $822

Max offer price $100,000

Occupancy floor 61%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20635 Penney Ln Harrah, OK	3.0	2.0	1050	$1,450	$1.38	1d	1	0.10mi
20061 Palmer Rd Harrah, OK	3.0	1.5	1111	$1,495	$1.35	1d	1	1.01mi
20600 E Reno Ave Unit 20616 Harrah, OK	1.0	1.5	710	$1,100	$1.55	2d	1	1.26mi

Listing history 26 events

1. 2026-06-18
   days on market $100,000 Active 42 DOM
2. 2026-06-17
   days on market $100,000 Active 41 DOM
3. 2026-06-16
   days on market $100,000 Active 40 DOM
4. 2026-06-15
   days on market $100,000 Active 39 DOM
5. 2026-06-13
   days on market $100,000 Active 37 DOM
6. 2026-06-13
   days on market $100,000 Active 36 DOM
7. 2026-06-09
   days on market $100,000 Active 33 DOM
8. 2026-06-08
   days on market $100,000 Active 32 DOM
9. 2026-06-07
   days on market $100,000 Active 31 DOM
10. 2026-06-03
    days on market $100,000 Active 27 DOM
11. 2026-06-02
    days on market $100,000 Active 26 DOM
12. 2026-06-01
    days on market $100,000 Active 25 DOM
13. 2026-05-31
    days on market $100,000 Active 24 DOM
14. 2026-05-22
    status Active
15. 2026-05-08
    status Pending
16. 2026-04-27
    status Active
17. 2026-04-20
    listed $100,000 Active
18. 2015-07-30
    soldstatus $26,000 Sold 328-char remark

    Show marketing remark (328 chars)

    2bed/1 bath frame structure with a great layout all on .4362 acres(mol). Large living area and inside laundry room. Detached garage. Large kitchen with tons of storage. Has a lot of potential. Will not qualify for financing. Selling "As Is" $1000 EM and proof of funds with all offers. Buyer to verify all information.

19. 2015-07-18
    status Pending 328-char remark

    Show marketing remark (328 chars)

    2bed/1 bath frame structure with a great layout all on .4362 acres(mol). Large living area and inside laundry room. Detached garage. Large kitchen with tons of storage. Has a lot of potential. Will not qualify for financing. Selling "As Is" $1000 EM and proof of funds with all offers. Buyer to verify all information.

20. 2015-07-10
    price $29,900 328-char remark

    Show marketing remark (328 chars)

    2bed/1 bath frame structure with a great layout all on .4362 acres(mol). Large living area and inside laundry room. Detached garage. Large kitchen with tons of storage. Has a lot of potential. Will not qualify for financing. Selling "As Is" $1000 EM and proof of funds with all offers. Buyer to verify all information.

21. 2015-06-07
    listed $37,999 Active 328-char remark

    Show marketing remark (328 chars)

    2bed/1 bath frame structure with a great layout all on .4362 acres(mol). Large living area and inside laundry room. Detached garage. Large kitchen with tons of storage. Has a lot of potential. Will not qualify for financing. Selling "As Is" $1000 EM and proof of funds with all offers. Buyer to verify all information.

22. 2007-12-19
    historical
23. 2006-11-08
    soldstatus $72,000
24. 2005-12-27
    listed $74,500
25. 2004-12-02
    soldstatus $68,000
26. 1997-03-03
    soldstatus $19,000

ⓘ 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: $996 · $83/mo
• Projected year-2 tax: $996 · $83/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 (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 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,208
• − Mortgage interest: −$5,602
• − Property taxes: −$996
• − Insurance: −$500
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$2,909
• Taxable income: $4,448
• Est. tax owed @ 24.0%: −$1,068
• After-tax cash flow: $4,738/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: Harrah
• NCES district ID: 4013890
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $52,737
• Composite: 23.55/100
• National rank: #7860
• State rank: #82 of 270 in OK

Livability — Harrah

• Score: 64/100
• State rank: #163
• US rank: #13659

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrah, OK
• City population: 11,542
• Population (ZIP): 11,542

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Hispanic / Latino 7% Native American 6% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% 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: ▼ -55.25%
• Current HPI: 272.5731
• 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

+426.3% since first listed

13 events — show timeline

• 2026-05-22 Relisted — MLSOK
• 2026-05-08 Pending — MLSOK
• 2026-04-27 Relisted — MLSOK
• 2026-04-20 Listed $100,000 MLSOK
• 2015-07-30 Sold (MLS) $26,000 MLSOK
• 2015-07-18 Pending — MLSOK
• 2015-07-10 Price Changed $29,900 MLSOK
• 2015-06-07 Listed $37,999 MLSOK
• 2007-12-19 Listing Removed — MLSOK
• 2006-11-08 Sold (Public Records) $72,000 Public Records
• 2005-12-27 Listed $74,500 MLSOK
• 2004-12-02 Sold (Public Records) $68,000 Public Records
• 1997-03-03 Sold (Public Records) $19,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $996 · +2.1% YoY. Source: county tax records.