208 Chronister Ave · Drumright, OK 74030

$129,000

3 bd · 2.0 ba · 1,423 sqft · SingleFamily public records · 25 Days on market

Built 1948 0.26 ac lot Est $137k · 6% under

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Why this score? — see what drove the C+ 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 +22.1/30.0
• ARV discount +10.0/15.0
• DSCR +7.1/10.0
• Appreciation +5.6/10.0
• 1% rule +4.5/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming stone home full of character and opportunity! This spacious property features beautiful hardwood floors, 2 large living areas and one with a stunning stone fireplace and built-in shelving, The kitchen offers ample cabinet space and opens to the main living areas, creating a functional layout for everyday living or entertaining. Outside, enjoy mature trees, covered parking, a large backyard, and unique curb appeal. With a little personal touch, this home could be made yours! Book your showing today!

Key facts

• 0.26 acre lot
• Garage
• Built 1948

Property features AI

Exterior

• Parking: Attached garage (1 car); Carport
• Security: Storm shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces east; Crawlspace foundation
• Construction: Stone and wood frame construction; Asphalt/fiberglass roof; Built per public records
• Exterior features: Concrete driveway; Covered porch; Porch; Shed(s); Privacy fencing; Mature trees; Storm shelter

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Electric water heater
• Flooring: Hardwood; Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Vinyl windows; Laminate counters; Other interior features; Wood-burning fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (4.7% below list).
• Recommended offer: $123k (4.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#102 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B; Watch: schools F, amenities F, commute F.
• Oak Grove (rural): math 30% / reading 50% proficiency, ranked #95 of 513 in OK (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 182 units permitted in Payne County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($892 loan paydown + $1k appreciation (1.1% local appreciation)).
• Payne County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,969 (4.7% below list)

Questions for the listing agent

1. Built in 1948 — 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 F-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: 0.95% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $136,608
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 Chronister Ave	0.06mi	2/2.0 (-1)	1,436 (+1%)	9mo	$105,000	$73	83
304 N Chronister Ave	0.04mi	3/1.5	1,375 (-3%)	9mo	$132,500	$96	83

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

Projected returns pro-forma

1.14% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.45×
• Total profit: $16,407
• Equity at exit: $44,955

10-year hold

• IRR: 12.7%
• Equity multiple: 2.56×
• Total profit: $56,324
• Equity at exit: $60,457

Cash invested: $36,120 (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 74030

• Home prices YoY: 0.5%
• Active inventory: 39
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,230 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $207

Break-even live

Break-even rent $967

Max offer price $129,000

Occupancy floor 78%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-02
   status $129,000 Pending 25 DOM
2. 2026-06-01
   days on market $129,000 Active 25 DOM
3. 2026-05-31
   days on market $129,000 Active 24 DOM
4. 2026-05-04
   listed $129,000 Active

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$752/yr (+$63/mo · 183.9%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $14,756
• − Mortgage interest: −$7,226
• − Property taxes: −$409
• − Insurance: −$645
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,753
• Taxable income: $363
• Est. tax owed @ 24.0%: −$87
• After-tax cash flow: $2,399/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: Oak Grove
• NCES district ID: 4022160
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 50% ▼ -5.00%
• Median HH income: $51,707
• Composite: 37.04/100
• National rank: #9071
• State rank: #95 of 513 in OK

Livability — Drumright

• Score: 66/100
• State rank: #102
• US rank: #11324

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Drumright, OK
• Population (ZIP): 2,978

Population outlook (Payne County) Hauer SSP2

• Today (2025): 88,499 people
• By 2030: 93,490 · +5.6%
• By 2040: 103,326 · +16.8%
• By 2050: 114,840 · +29.8%
• By 2075: 150,048 · +69.5%
• By 2100: 179,424 · +102.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Native American 9% Two or more races 8% Hispanic / Latino 2% Black 1% Asian 1%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Payne

• 2024 margin: Strong R (+25.3) · D 36.1% · R 61.4% · Other 2.6%
• 2008→2024 swing: +1.7pp toward D · 2008: -27.0pp · 2024: -25.3pp
• All cycles: 2024: R+25.3 2020: R+23.3 2016: R+28.3 2012: R+28.3 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.14%
• Current HPI: 232.3723
• 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

1 event — show timeline

• 2026-05-04 Listed $129,000 MLS Technology, Inc.

Property tax history

-0.7%/yr

Latest (2025): $409 · -0.5% YoY. Source: county tax records.