503 W Choctaw St · Tahlequah, OK 74464

$98,500

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 109 Days on market

Built 1945 Est $162k · 39% 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 +8.3/10.0
• Rent growth +4.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 3-bedroom, 2-bathroom home, offering 1176 sq ft (per CH) of comfortable living space. Situated on a corner lot, this property is currently being remodeled and features new paint, promising a fresh and modern feel. Conveniently located close to schools, this home is perfect for families. Whether you're a first-time homebuyer or a growing family, this remodeled home is a great choice. Don't miss out on this freshly remodeled home in a great location!

Key facts

• Remodeled
• Close to schools
• New paint

Tags

• CORNER LOT
• REMODELED
• NEW PAINT
• CLOSE TO SCHOOLS

Property features AI

Finance

• Other: Less than 10 miles to water
• HOA & community: Marina nearby

Exterior

• Parking: Detached garage with storage; 2-car garage
• Security: Smoke detector(s); No safety shelter
• Utilities: Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces north; Crawlspace entry/foundation
• Construction: Vinyl siding with wood frame construction; Asphalt/fiberglass roof; Built year reported by owner
• Exterior features: Covered porch; Dirt driveway; Additional land available; Corner lot; Access to Tenkiller Lake with boat ramp/lift access, lake/river/water access

Interior

• Kitchen: Oven; Range; Stove; Refrigerator; Gas water heater
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Vinyl and insulated windows; Laminate countertops; Gas range and gas oven connections; Smoke detector(s)
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 4.3% in Tahlequah — 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 66/100 on livability (#124 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D, amenities D, commute F.
• Tahlequah (town): math 27% / reading 25% proficiency, ranked #109 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.2%/yr); 367 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 8.0% 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 109 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,635 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.33% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.40%
• DSCR: 1.86
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $162,288
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
325 W Chickasaw St	0.13mi	3/1.0	1,172 (-0%)	0mo	$140,000	$119	93
813 W Choctaw St	0.30mi	3/1.0	1,104 (-6%)	5mo	$120,000	$109	72
702 S College	0.48mi	2/1.0 (-1)	1,120 (-5%)	4mo	$70,000	$63	62
510 S Cherokee Ave	0.30mi	2/1.0 (-1)	1,064 (-10%)	6mo	$164,000	$154	60
602 N Jones Ave	0.47mi	3/2.0	1,080 (-8%)	1mo	$175,000	$162	59
757 Bluff St	0.64mi	3/1.0	1,103 (-6%)	6mo	$144,000	$131	55
902 S Owens Ave	0.67mi	3/2.0	1,236 (+5%)	5mo	$175,000	$142	52
510 S State Ave	0.27mi	2/2.0 (-1)	1,308 (+11%)	10mo	$140,000	$107	51
305 S Moccasin Ave	0.64mi	2/2.0 (-1)	1,116 (-5%)	3mo	$175,000	$157	50
615 Russell Ave	0.56mi	2/2.0 (-1)	1,320 (+12%)	7mo	$65,000	$49	39
215 E Fuller St	0.67mi	2/1.0 (-1)	1,007 (-14%)	3mo	$146,500	$145	38
906 S Owens Ave	0.69mi	3/2.0	1,330 (+13%)	9mo	$183,500	$138	34

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.70×
• Total profit: $19,325
• Equity at exit: $14,687

10-year hold

• IRR: 28.2%
• Equity multiple: 4.07×
• Total profit: $84,761
• Equity at exit: $8,516

Cash invested: $27,580 (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 74464

• Rents YoY: 9.2%
• Active inventory: 367
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$517
• Tax from tax record: −$32 /mo · $378/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $446

Break-even live

Break-even rent $746

Max offer price $98,500

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $98,500 Active 109 DOM
2. 2026-06-18
   days on market $98,500 Active 108 DOM
3. 2026-06-17
   days on market $98,500 Active 107 DOM
4. 2026-06-16
   days on market $98,500 Active 106 DOM
5. 2026-06-15
   days on market $98,500 Active 105 DOM
6. 2026-06-14
   days on market $98,500 Active 103 DOM
7. 2026-06-12
   days on market $98,500 Active 102 DOM
8. 2026-06-09
   days on market $98,500 Active 99 DOM
9. 2026-06-08
   days on market $98,500 Active 98 DOM
10. 2026-06-07
    days on market $98,500 Active 97 DOM
11. 2026-06-05
    days on market $98,500 Active 94 DOM
12. 2026-06-03
    days on market $98,500 Active 93 DOM
13. 2026-06-02
    days on market $98,500 Active 92 DOM
14. 2026-06-01
    days on market $98,500 Active 91 DOM
15. 2026-05-31
    days on market $98,500 Active 90 DOM
16. 2026-05-30
    days on market $98,500 Active 89 DOM
17. 2026-02-27
    listed $98,500 Active
18. 2019-12-02
    soldstatus $160,000
19. 2001-05-08
    soldstatus $55,000

ⓘ 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: $378 · $32/mo
• Projected year-2 tax: $886 · $74/mo
• Expected delta: +$508/yr (+$42/mo · 134.5%)

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

Taxation est. · year 1

• Rental income: $15,721
• − Mortgage interest: −$5,518
• − Property taxes: −$378
• − Insurance: −$492
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$2,865
• Taxable income: $3,952
• Est. tax owed @ 24.0%: −$949
• After-tax cash flow: $4,402/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: Tahlequah
• NCES district ID: 4029380
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $32,990
• Composite: 21.28/100
• National rank: #8393
• State rank: #109 of 270 in OK

Livability — Tahlequah

• Score: 66/100
• State rank: #124
• US rank: #12171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tahlequah, OK
• County: Cherokee County · 31,116 people
• City population: 31,116
• Metro: Tahlequah, OK
• Population (ZIP): 31,116
• Household income: $51,262
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1058.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 51,747 people
• By 2030: 53,481 · +3.4%
• By 2040: 56,503 · +9.2%
• By 2050: 59,370 · +14.7%
• By 2075: 67,178 · +29.8%
• By 2100: 70,900 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 41% Native American 35% Two or more races 16% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 6%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+32.6) · D 32.7% · R 65.3% · Other 2.0%
• 2008→2024 swing: -20.4pp toward R · 2008: -12.2pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+29.3 2016: R+27.5 2012: R+14.1 2008: R+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -184.14%
• Current HPI: 226.4004
• Rent YoY: ▲ 9.23%
• Metro: Tahlequah, 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

+79.1% since first listed

3 events — show timeline

• 2026-02-27 Listed $98,500 MLS Technology, Inc.
• 2019-12-02 Sold (Public Records) $160,000 Public Records
• 2001-05-08 Sold (Public Records) $55,000 Public Records

Property tax history

+7.8%/yr

Latest (2025): $378 · +3.3% YoY. Source: county tax records.