509 S Shawnee Ave · Bartlesville, OK 74003

$175,000

4 bd · 2.0 ba · 2,530 sqft · SingleFamily public records · 4 Days on market

Built 1909 4,850 sqft lot Est $213k · 18% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +8.8/30.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks MLS

Great Investment property sold "as-is". Could serve as 3 individual units. 2-1 bedrooms; 1-3 bedroom. Perfect location in downtown Bartlesville. Priced very reasonably.

Key facts

• Covered porch
• Carport
• Separate units

Tags

• WALKING DISTANCE TO DOWNTOWN
• INVESTMENT OPPORTUNITY
• SEPARATE UNITS
• COVERED PORCH
• CARPORT
• SEPARATE UTILITY METERS

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Three-car garage; Carport
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Two-story home; Faces east; Crawlspace foundation
• Construction: Built with wood frame construction; Asphalt/fiberglass roof
• Exterior features: Covered porch

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Stove; Refrigerator
• Bedrooms: Multiple bedrooms located on both first and second floors
• Flooring: Tile; Wood
• Bathrooms: Three full bathrooms
• Heating & cooling: Central heating (electric); Cooling with three or more units
• Interior features: High ceilings; Laminate counters; Ceiling fan(s); Casement and vinyl windows
• Laundry & utility: Washer hookup; Separate utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-145 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (14.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (25.1% below list).
• Recommended offer: $131k (25.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#175 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Bartlesville (town): math 30% / reading 29% proficiency, ranked #59 of 270 in OK (top 22%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Richard Kane Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 514 students, 0% FRL); Central Ms (math 29% / reading 29%, grade F, #55 of 345 statewide, top 16%, 671 students, 0% FRL); Bartlesville Hs (math 38% / reading 45%, grade F, #23 of 447 statewide, top 5%, 1,642 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 137 active listings in the ZIP; 46 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Washington County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 33y 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 $50k; list at $175k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — 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 $131,109 (25.1% 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 1909 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.75% ✗
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $212,520
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1445 Apple Alley St	0.66mi	3/2.0 (-1)	2,531 (0%)	2mo	$245,000	$97	63
703 SE Delaware Ave	0.13mi	4/1.0	2,189 (-14%)	20mo	$62,000	$28	51
415 S Choctaw	0.22mi	5/4.0 (+1)	2,704 (+7%)	19mo	$228,000	$84	49
605 Cherry Ln	0.63mi	3/2.0 (-1)	2,660 (+5%)	17mo	$215,000	$81	43
1401 SE Delaware Ave	0.57mi	4/3.5	2,256 (-11%)	11mo	$350,000	$155	40
300 E 14th St	0.67mi	3/2.5 (-1)	2,841 (+12%)	13mo	$162,000	$57	30
1414 Valley Rd	0.66mi	3/3.0 (-1)	2,842 (+12%)	24mo	$300,000	$106	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 21.7%
• Equity multiple: 2.76×
• Total profit: $86,053
• Equity at exit: $157,654

10-year hold

• IRR: 19.6%
• Equity multiple: 6.32×
• Total profit: $260,698
• Equity at exit: $339,987

Cash invested: $49,000 (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 74003

• Home prices YoY: 5.0%
• Active inventory: 137
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$190 /mo · $2,286/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $-145

Break-even live

Break-even rent $1,495

Max offer price $149,319

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-96	+0% $-145	+5% $-195	+10% $-244
Rent	-10% $-249	-5% $-197	+0% $-145	+5% $-94	+10% $-42
Rate	-1.0pp $-57	-0.5pp $-101	base $-145	+0.5pp $-191	+1.0pp $-237

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-15
   status Pending
2. 2026-05-11
   listed $175,000 Active
3. 2024-02-25
   historical $650
4. 2024-02-10
   listed $650
5. 2024-01-05
   historical $695
6. 2023-11-28
   listed $695
7. 2022-03-04
   price $695
8. 2015-04-17
   soldstatus $50,000 178-char remark

   Show marketing remark (178 chars)

   Great Investment property sold "as-is". Could serve as 3 individual units. 2-1 bedrooms; 1-3 bedroom. Perfect location in downtown Bartlesville. Priced very reasonably.

9. 2015-04-02
   listed $59,000 178-char remark

   Show marketing remark (178 chars)

   Great Investment property sold "as-is". Could serve as 3 individual units. 2-1 bedrooms; 1-3 bedroom. Perfect location in downtown Bartlesville. Priced very reasonably.

10. 2014-08-18
    soldstatus $32,000
11. 1993-03-11
    listed $19,900

ⓘ 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: $2,286 · $190/mo
• Projected year-2 tax: $2,286 · $190/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 7/10 Severe 7 d/yr ≥113°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,733
• − Mortgage interest: −$9,803
• − Property taxes: −$2,286
• − Insurance: −$875
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$5,091
• Taxable loss: −$4,839
• Est. tax savings @ 24.0%: +$1,161
• After-tax cash flow: $-583/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: Bartlesville
• NCES district ID: 4003630
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $48,889
• Composite: 25.69/100
• National rank: #7389
• State rank: #59 of 270 in OK

Livability — Bartlesville

• Score: 64/100
• State rank: #175
• US rank: #13940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bartlesville, OK
• County: Washington County · 41,935 people
• City population: 41,935
• Metro: Bartlesville, OK
• Population (ZIP): 14,024
• Household income: $47,168
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 395.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 54,946 people
• By 2030: 56,249 · +2.4%
• By 2040: 58,867 · +7.1%
• By 2050: 61,600 · +12.1%
• By 2075: 69,355 · +26.2%
• By 2100: 73,067 · +33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 14% Hispanic / Latino 7% Native American 7% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+47.6) · D 25.0% · R 72.7% · Other 2.4%
• 2008→2024 swing: -3.1pp toward R · 2008: -44.6pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+48.0 2016: R+48.5 2012: R+47.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.78%
• Current HPI: 309.9534
• Rent YoY: —
• Metro: Bartlesville, 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

+779.4% since first listed

11 events — show timeline

• 2026-05-15 Pending — MLS Technology, Inc.
• 2026-05-11 Listed $175,000 MLS Technology, Inc.
• 2024-02-25 Rental Removed $650 BUILDIUM
• 2024-02-10 Listed for Rent $650 BUILDIUM
• 2024-01-05 Rental Removed $695 BUILDIUM
• 2023-11-28 Listed for Rent $695 BUILDIUM
• 2022-03-04 Price Changed $695 BUILDIUM
• 2015-04-17 Sold (MLS) $50,000 MLS Technology, Inc.
• 2015-04-02 Listed $59,000 MLS Technology, Inc.
• 2014-08-18 Sold (Public Records) $32,000 Public Records
• 1993-03-11 Listed $19,900 MLS Technology, Inc.

Property tax history

+19.2%/yr

Latest (2025): $2,286 · +1.8% YoY. Source: county tax records.