3601 Topeka Ln · Choctaw, OK 73020

$120,000

3 bd · 2.0 ba · 1,734 sqft · SingleFamily public records · 3 Days on market

Built 1979 1.30 ac lot ↓ 25% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

GREAT COUNTRY ADDITION.. HOUSE HAS BEEN RENOVATED WITH PAINT, CARPET, COUNTERS, APPLIANCES, TILE, ETC. VERY LARGE LIVING AREA WITH LARGE FIREPLACE.. MIL PLAN.. LARGE UTILITY ROOM.. VERSATILE ADDED LIVING SPACE.. LOTS OF OUTSIDE SPACE WITH OVER AN ACRE ..

Key facts

• Enclosed back porch
• Large corner lot
• 24x24 shop building

Tags

• LARGE CORNER LOT
• WOOD BURNING FIREPLACE
• ENCLOSED BACK PORCH
• 24X24 SHOP BUILDING

Property features AI

Finance

• Other: Vacant and available; Corner lot approximately 1.3 acres
• Financial info: Not assumable; Not qualified for seller financing
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: Homestead designation
• Home design: Single family residence; One-level entry
• Construction: Brick and frame construction; Composition roof; Slab foundation; Built (existing)
• Exterior features: Outbuildings; Porch; Corner lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: In-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $625 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 12.5% 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; 1 comparable units currently listed for rent nearby; 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y 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.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $120,000

Questions for the listing agent

1. Built in 1979 — 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: 1.54% ✓
• Cap rate: 12.54%
• Cash-on-cash: 22.32%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $267,036
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3601 Topeka Ln	0.00mi	3/2.0	1,734 (0%)	0mo	$150,000	$87	100
3659 Roundhouse Dr	0.15mi	3/2.0	1,785 (+3%)	6mo	$289,000	$162	83
4000 Cupola Cir	0.36mi	3/2.0	1,591 (-8%)	3mo	$278,000	$175	67
4217 Maxine Dr	0.51mi	3/2.5	1,711 (-1%)	9mo	$320,450	$187	64
16879 Depot Cir	0.17mi	4/2.0 (+1)	1,690 (-2%)	22mo	$259,900	$154	64
4400 S Triple X Rd	0.57mi	3/2.0	1,800 (+4%)	8mo	$265,000	$147	60
3437 Santa Fe	0.37mi	3/2.0	1,945 (+12%)	10mo	$285,000	$147	54
4201 Maxine Dr	0.48mi	4/2.0 (+1)	1,924 (+11%)	0mo	$400,000	$208	54
3779 Santa Fe Dr	0.37mi	3/2.0	1,990 (+15%)	17mo	$289,000	$145	44
2909 Spencer Ln	0.73mi	3/2.0	1,548 (-11%)	16mo	$117,500	$76	35

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: 15.1%
• Equity multiple: 1.61×
• Total profit: $20,384
• Equity at exit: $17,892

10-year hold

• IRR: 23.8%
• Equity multiple: 3.06×
• Total profit: $69,119
• Equity at exit: $10,375

Cash invested: $33,600 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,844 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$153 /mo · $1,830/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $625

Break-even live

Break-even rent $1,053

Max offer price $120,000

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18251 SE 29th St Newalla, OK	3.0	2.0	1100	$1,500	$1.36	10d	1	1.44mi

Listing history 7 events

1. 2026-05-20
   status Pending
2. 2026-05-17
   listed $120,000 Active
3. 2010-11-30
   soldstatus $148,000
4. 2010-11-17
   soldstatus $148,000 257-char remark

   Show marketing remark (257 chars)

   GREAT COUNTRY ADDITION.. HOUSE HAS BEEN RENOVATED WITH PAINT, CARPET, COUNTERS, APPLIANCES, TILE, ETC. VERY LARGE LIVING AREA WITH LARGE FIREPLACE.. MIL PLAN.. LARGE UTILITY ROOM.. VERSATILE ADDED LIVING SPACE.. LOTS OF OUTSIDE SPACE WITH OVER AN ACRE ..

5. 2010-08-07
   listed $149,900 257-char remark

   Show marketing remark (257 chars)

   GREAT COUNTRY ADDITION.. HOUSE HAS BEEN RENOVATED WITH PAINT, CARPET, COUNTERS, APPLIANCES, TILE, ETC. VERY LARGE LIVING AREA WITH LARGE FIREPLACE.. MIL PLAN.. LARGE UTILITY ROOM.. VERSATILE ADDED LIVING SPACE.. LOTS OF OUTSIDE SPACE WITH OVER AN ACRE ..

6. 2010-07-07
   historical
7. 2010-05-29
   listed $159,900

ⓘ 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: $1,830 · $153/mo
• Projected year-2 tax: $1,830 · $153/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 5/10 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: $22,127
• − Mortgage interest: −$6,722
• − Property taxes: −$1,830
• − Insurance: −$600
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$3,491
• Taxable income: $5,944
• Est. tax owed @ 24.0%: −$1,427
• After-tax cash flow: $6,072/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

-25.0% since first listed

7 events — show timeline

• 2026-05-20 Pending — MLSOK
• 2026-05-17 Listed $120,000 MLSOK
• 2010-11-30 Sold (Public Records) $148,000 Public Records
• 2010-11-17 Sold (MLS) $148,000 MLSOK
• 2010-08-07 Listed $149,900 MLSOK
• 2010-07-07 Listing Removed — MLSOK
• 2010-05-29 Listed $159,900 MLSOK

Property tax history

-1.0%/yr

Latest (2025): $1,830 · -13.8% YoY. Source: county tax records.