607 W Cheyenne St · El Reno, OK 73036

$58,900

3 bd · 1.0 ba · 1,254 sqft · SingleFamily public records · 57 Days on market

Built 1975 6,251 sqft lot ↓ 2% 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
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

High-Potential 3-Bed Investment: Calling all rehabbers and portfolio builders! This 1,254 sq. ft. single-family home offers the ideal footprint for a high-ROI transformation. Located in the Douglas Heights subdivision, this 1975-built ranch is a "needs everything" project, priced to reflect its current condition and ready for a modern overhaul. The property sits on a standard urban lot with a raised slab porch (45 sq. ft. ). The exterior is finished with plywood/hardboard siding and a composition shingle roof. The yard offers plenty of room for creative landscaping or the addition of storage units/outbuildings to increase value.

Key facts

• Creative landscaping
• Raised slab porch
• 6,251 sq ft lot

Tags

• DOUGLAS HEIGHTS SUBDIVISION
• RAISED SLAB PORCH
• PLYWOOD HARDBOARD SIDING
• COMPOSITION SHINGLE ROOF
• CREATIVE LANDSCAPING

Property features AI

Finance

• Other: Located in Douglas Heights addition; Interior lot
• Financial info: Not assumable; Loan qualification unknown; Tax amount listed
• HOA & community: No mandatory association dues

Exterior

• Utilities: Homestead not claimed
• Home design: Single family residence; One-level home; Property faces north
• Construction: Frame construction; Composition roof; Slab foundation; Existing property
• Exterior features: Open deck; Porch; Storage

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump
• Interior features: Living area; Dining area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.3% vs local median 4.8% in El Reno — 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 67/100 on livability (#95 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• El Reno (town): math 12% / reading 15% proficiency, ranked #232 of 270 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rose Witcher Es (387 students, 0% FRL); El Reno Hs (math 16% / reading 19%, grade F, #307 of 447 statewide, top 69%, 980 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 280 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $407 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,133 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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 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?
5. 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.
6. 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.
7. 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: 2.36% ✓
• Cap rate: 21.31%
• Cash-on-cash: 53.62%
• DSCR: 3.39
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $166,782
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 W Cheyenne St	0.01mi	3/2.0	1,200 (-4%)	4mo	$160,000	$133	85
707 N Admire Ave	0.16mi	3/1.0	1,184 (-6%)	11mo	$127,200	$107	74
111 N Admire Ave	0.35mi	2/1.0 (-1)	1,218 (-3%)	6mo	$139,000	$114	69
413 N Rock Island Ave	0.42mi	3/2.0	1,314 (+5%)	3mo	$183,500	$140	66
903 Sunset Dr	0.46mi	3/1.0	1,196 (-5%)	12mo	$124,000	$104	61
520 S Reno Ave	0.67mi	4/2.0 (+1)	1,256 (+0%)	1mo	$176,000	$140	58
405 N Rock Island Ave	0.42mi	3/2.0	1,126 (-10%)	10mo	$167,000	$148	51
201 N Williams Ave	0.70mi	3/2.0	1,283 (+2%)	10mo	$82,500	$64	51
901 W Wade St	0.52mi	3/2.5	1,364 (+9%)	8mo	$155,000	$114	48
101 N Moore Ave	0.45mi	2/1.0 (-1)	1,100 (-12%)	9mo	$107,000	$97	46
518 S Ellison Ave	0.65mi	3/2.0	1,442 (+15%)	1mo	$207,800	$144	40
605 S Reno Ave	0.74mi	2/1.0 (-1)	1,093 (-13%)	1mo	$149,900	$137	38

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 · 4.19% rent growth · sell at horizon

5-year hold

• IRR: 53.0%
• Equity multiple: 3.37×
• Total profit: $39,066
• Equity at exit: $8,782

10-year hold

• IRR: 58.7%
• Equity multiple: 7.16×
• Total profit: $101,511
• Equity at exit: $5,093

Cash invested: $16,492 (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 73036

• Home prices YoY: -3.3%
• Rents YoY: 4.2%
• Active inventory: 280
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,391 high
• Mortgage (P&I): −$309
• Tax from tax record: −$29 /mo · $347/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $737

Break-even live

Break-even rent $459

Max offer price $58,900

Occupancy floor 42%

Sensitivity live

Price	-10% $770	-5% $754	+0% $737	+5% $720	+10% $704
Rent	-10% $627	-5% $682	+0% $737	+5% $792	+10% $847
Rate	-1.0pp $767	-0.5pp $752	base $737	+0.5pp $722	+1.0pp $706

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: $14,725
• Closing costs: $1,767
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 W Clarke St El Reno, OK	3.0	2.0	1768	$1,395	$0.79	2d	1	0.04mi
607 N Evans Ave El Reno, OK	2.0	1.0	1032	$1,025	$0.99	2d	1	0.21mi
819 S Wilson Ave El Reno, OK	3.0	2.0	1200	$1,325	$1.10	4d	1	0.95mi
819 S Wilson Ave Unit 819 El Reno, OK	3.0	2.0	1200	$1,325	$1.10	2d	1	0.96mi
1031 S Ellison Ave El Reno, OK	3.0	2.0	1601	$1,500	$0.94	2d	1	1.16mi
1109 S Ellison Ave El Reno, OK	2.0	2.0	1595	$1,360	$0.85	2d	1	1.24mi

Listing history 18 events

1. 2026-06-18
   days on market $58,900 Active 57 DOM
2. 2026-06-17
   days on market $58,900 Active 56 DOM
3. 2026-06-16
   days on market $58,900 Active 55 DOM
4. 2026-06-15
   days on market $58,900 Active 54 DOM
5. 2026-06-13
   days on market $58,900 Active 52 DOM
6. 2026-06-13
   days on market $58,900 Active 51 DOM
7. 2026-06-09
   days on market $58,900 Active 48 DOM
8. 2026-06-08
   days on market $58,900 Active 47 DOM
9. 2026-06-07
   days on market $58,900 Active 46 DOM
10. 2026-06-05
    days on market $58,900 Active 43 DOM
11. 2026-06-03
    days on market $58,900 Active 42 DOM
12. 2026-06-02
    days on market $58,900 Active 41 DOM
13. 2026-06-01
    days on market $58,900 Active 40 DOM
14. 2026-05-31
    days on market $58,900 Active 39 DOM
15. 2026-04-30
    price $58,900 646-char remark

    Show marketing remark (646 chars)

    High-Potential 3-Bed Investment: Calling all rehabbers and portfolio builders! This 1,254 sq. ft. single-family home offers the ideal footprint for a high-ROI transformation. Located in the Douglas Heights subdivision, this 1975-built ranch is a "needs everything" project, priced to reflect its current condition and ready for a modern overhaul. The property sits on a standard urban lot with a raised slab porch (45 sq. ft. ). The exterior is finished with plywood/hardboard siding and a composition shingle roof. The yard offers plenty of room for creative landscaping or the addition of storage units/outbuildings to increase value.

16. 2026-04-30
    price $58,900

    Show marketing remark (646 chars)

    High-Potential 3-Bed Investment: Calling all rehabbers and portfolio builders! This 1,254 sq. ft. single-family home offers the ideal footprint for a high-ROI transformation. Located in the Douglas Heights subdivision, this 1975-built ranch is a "needs everything" project, priced to reflect its current condition and ready for a modern overhaul. The property sits on a standard urban lot with a raised slab porch (45 sq. ft. ). The exterior is finished with plywood/hardboard siding and a composition shingle roof. The yard offers plenty of room for creative landscaping or the addition of storage units/outbuildings to increase value.

17. 2026-04-20
    listed $59,900 Active 646-char remark

    Show marketing remark (646 chars)

    High-Potential 3-Bed Investment: Calling all rehabbers and portfolio builders! This 1,254 sq. ft. single-family home offers the ideal footprint for a high-ROI transformation. Located in the Douglas Heights subdivision, this 1975-built ranch is a "needs everything" project, priced to reflect its current condition and ready for a modern overhaul. The property sits on a standard urban lot with a raised slab porch (45 sq. ft. ). The exterior is finished with plywood/hardboard siding and a composition shingle roof. The yard offers plenty of room for creative landscaping or the addition of storage units/outbuildings to increase value.

18. 2026-04-20
    listed $59,900 Active

    Show marketing remark (646 chars)

    High-Potential 3-Bed Investment: Calling all rehabbers and portfolio builders! This 1,254 sq. ft. single-family home offers the ideal footprint for a high-ROI transformation. Located in the Douglas Heights subdivision, this 1975-built ranch is a "needs everything" project, priced to reflect its current condition and ready for a modern overhaul. The property sits on a standard urban lot with a raised slab porch (45 sq. ft. ). The exterior is finished with plywood/hardboard siding and a composition shingle roof. The yard offers plenty of room for creative landscaping or the addition of storage units/outbuildings to increase value.

ⓘ 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: $347 · $29/mo
• Projected year-2 tax: $530 · $44/mo
• Expected delta: +$183/yr (+$15/mo · 52.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,697
• − Mortgage interest: −$3,299
• − Property taxes: −$347
• − Insurance: −$294
• − Repairs & maintenance: −$1,336
• − Management: −$1,336
• − Depreciation: −$1,713
• Taxable income: $8,371
• Est. tax owed @ 24.0%: −$2,009
• After-tax cash flow: $6,833/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: El Reno
• NCES district ID: 4010650
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $44,689
• Composite: 12.01/100
• National rank: #9664
• State rank: #232 of 270 in OK

Livability — El Reno

• Score: 67/100
• State rank: #95
• US rank: #10933

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: El Reno, OK
• County: Canadian County · 154,341 people
• City population: 21,387
• Metro: Oklahoma City, OK
• Population (ZIP): 21,387
• Household income: $59,915
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 580.0

Population outlook (Canadian County) Hauer SSP2

• Today (2025): 174,062 people
• By 2030: 195,170 · +12.1%
• By 2040: 239,293 · +37.5%
• By 2050: 285,457 · +64.0%
• By 2075: 403,766 · +132.0%
• By 2100: 498,766 · +186.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 17% Two or more races 8% Native American 8% Black 6%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Canadian

• 2024 margin: Solid R (+40.4) · D 28.8% · R 69.2% · Other 2.0%
• 2008→2024 swing: +11.9pp toward D · 2008: -52.2pp · 2024: -40.4pp
• All cycles: 2024: R+40.4 2020: R+43.3 2016: R+51.2 2012: R+54.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.37%
• Current HPI: 334.5896
• Rent YoY: ▲ 4.19%
• 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

-1.7% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $58,900 NWOAR
• 2026-04-30 Price Changed $58,900 MLSOK
• 2026-04-20 Listed $59,900 NWOAR
• 2026-04-20 Listed $59,900 MLSOK

Property tax history

+3.1%/yr

Latest (2025): $347 · +6.1% YoY. Source: county tax records.