1301 E Old Keystone Rd · Westport, OK 74020

$199,000

2 bd · 2.0 ba · 1,204 sqft · SingleFamily public records · 28 Days on market

Built 1966 19 ac lot

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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 +12.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Livability +3.1/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Check out this scenic land in Cleveland OK! The value of this property lies in the 18.96 acres close to the Arkansas River. House is a complete fixer upper. Jump on this chance to grab the perfect country getaway for a low price!

Key facts

• 18.96 acres
• Country getaway
• 18.96 acre lot

Tags

• 18.96 ACRES
• CLOSE TO THE ARKANSAS RIVER
• COUNTRY GETAWAY

Property features AI

Exterior

• Security: No safety shelter
• Utilities: Public water; Public sewer
• Home design: Faces east
• Construction: Vinyl siding; Wood frame construction; Crawlspace foundation; Year built per public records
• Exterior features: Wooded lot

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Aluminum frame windows; No additional interior features indicated
• Laundry & utility: No hot water (appliance noted)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-17 ($-202/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (24.4% below list).
• Recommended offer: $151k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.6% in Westport — 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 62/100 on livability (#266 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D, amenities F, commute F.
• Cleveland (town): math 21% / reading 19% proficiency, ranked #169 of 270 in OK (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 89 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 $21k of equity ($1k loan paydown + $20k appreciation (10.0% 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 (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $199k implies a 636% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $150,524 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1966 — 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. 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?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 24.0%
• Equity multiple: 2.92×
• Total profit: $107,226
• Equity at exit: $179,275

10-year hold

• IRR: 21.3%
• Equity multiple: 6.68×
• Total profit: $316,445
• Equity at exit: $386,613

Cash invested: $55,720 (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 74020

• Home prices YoY: 6.9%
• Active inventory: 89
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,505 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$80 /mo · $954/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-17

Break-even live

Break-even rent $1,527

Max offer price $196,023

Occupancy floor 96%

Sensitivity live

Price	-10% $96	-5% $39	+0% $-17	+5% $-73	+10% $-130
Rent	-10% $-136	-5% $-76	+0% $-17	+5% $43	+10% $102
Rate	-1.0pp $83	-0.5pp $34	base $-17	+0.5pp $-68	+1.0pp $-121

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-17
   days on market $199,000 Active 28 DOM
2. 2026-06-16
   days on market $199,000 Active 27 DOM
3. 2026-06-15
   days on market $199,000 Active 26 DOM
4. 2026-06-13
   days on market $199,000 Active 24 DOM
5. 2026-06-10
   days on market $199,000 Active 21 DOM
6. 2026-06-09
   days on market $199,000 Active 20 DOM
7. 2026-06-08
   days on market $199,000 Active 19 DOM
8. 2026-06-07
   days on market $199,000 Active 18 DOM
9. 2026-06-03
   pricedays on market $199,000 Active 14 DOM
10. 2026-06-02
    days on market $237,000 Active 13 DOM
11. 2026-06-01
    days on market $237,000 Active 12 DOM
12. 2026-05-31
    days on market $237,000 Active 11 DOM
13. 2026-05-20
    listed $237,000 Active
14. 2002-04-01
    soldstatus $27,048

ⓘ 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: $954 · $80/mo
• Projected year-2 tax: $1,791 · $149/mo
• Expected delta: +$837/yr (+$70/mo · 87.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,063
• − Mortgage interest: −$11,147
• − Property taxes: −$954
• − Insurance: −$995
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$5,789
• Taxable loss: −$3,712
• Est. tax savings @ 24.0%: +$891
• After-tax cash flow: $689/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: Cleveland
• NCES district ID: 4008040
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 19% ▼ -11.00%
• Median HH income: $45,642
• Composite: 17.52/100
• National rank: #9049
• State rank: #169 of 270 in OK

Livability — Westport

• Score: 62/100
• State rank: #266
• US rank: #17069

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,365

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 (77%)
• Race & ethnicity: White 77% Two or more races 12% Native American 6% Hispanic / Latino 4% Black 1%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 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: ▲ 14.01%
• Current HPI: 218.04
• 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

+776.2% since first listed

2 events — show timeline

• 2026-05-20 Listed $237,000 MLS Technology, Inc.
• 2002-04-01 Sold (Public Records) $27,048 Public Records

Property tax history

+5.1%/yr

Latest (2025): $954 · +7.7% YoY. Source: county tax records.