202 S Center Ave · Shawnee, OK 74801

$68,900

3 bd · 1.0 ba · 1,378 sqft · SingleFamily public records · 65 Days on market

Built 1927 10,502 sqft lot Est $114k · 40% under ↓ 4% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks

Love to Karaoke? 2 Bedroom, 1 Bathroom Fixer Upper Home with an attached Shop. Home has a 2nd living area that is set up as a Bar/Entertainment area. Perfect place for a pool table and an area to karaoke too!

Key facts

• 2nd living area
• Attached shop
• 0.24 acre lot

Tags

• ATTACHED SHOP
• 2ND LIVING AREA
• BAR ENTERTAINMENT AREA

Property features AI

Finance

• Other: Vacant and not occupied
• Financial info: Sold as-is; acceptable financing includes cash and conventional; Loan qualification possible; REO / Bank-owned
• HOA & community: No mandatory association dues

Exterior

• Parking: 4-car garage; Other parking
• Utilities: No flood insurance indicated
• Home design: Residential single-family home; Multi-level property; Faces east
• Construction: Frame construction; Single-pane windows; Other roof type; Conventional foundation; Built (existing)
• Exterior features: Front porch; Workshop; Interior lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: No fireplace; No in-law plan; Two living areas

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 3.9% in Shawnee — 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 63/100 on livability (#217 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Shawnee (town): math 11% / reading 17% proficiency, ranked #238 of 270 in OK (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Horace Mann Es (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 225 students, 0% FRL); Shawnee Hs (math 16% / reading 35%, grade F, #142 of 447 statewide, top 32%, 987 students, 0% FRL) — zoned schools average 0% FRL vs 70% district-wide (70 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.8%/yr); 192 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 183 units permitted in Pottawatomie County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $476 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pottawatomie County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 2.8% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $64,765 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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 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?
6. Crime grade is F 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?
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: 1.69% ✓
• Cap rate: 14.56%
• Cash-on-cash: 29.52%
• DSCR: 2.31
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $114,374
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1201 E Main St	0.16mi	3/1.0	1,428 (+4%)	6mo	$75,000	$53	81
1326 E 10th St	0.41mi	3/2.0	1,360 (-1%)	6mo	$110,000	$81	70
1328 E 10th St	0.42mi	3/2.0	1,435 (+4%)	6mo	$150,000	$105	65
302 N Kimberly Ave	0.56mi	3/2.0	1,323 (-4%)	4mo	$150,000	$113	60
309 N Tenbrook Ave	0.70mi	3/2.0	1,360 (-1%)	5mo	$50,000	$37	57
212 S Osage Ave	0.19mi	4/2.0 (+1)	1,232 (-11%)	14mo	$80,000	$65	53
911 Buck Dr	0.30mi	4/2.0 (+1)	1,272 (-8%)	13mo	$105,000	$83	53
1201 E Margaret St	0.72mi	3/2.0	1,300 (-6%)	3mo	$63,000	$48	51
323 S Minnesota Ave	0.54mi	3/2.0	1,260 (-9%)	8mo	$105,000	$83	50
415 N Florence Ave	0.58mi	3/2.0	1,288 (-6%)	10mo	$123,000	$95	50
1214 E Edwards St	0.69mi	3/1.0	1,227 (-11%)	2mo	$62,500	$51	48
422 N Tenbrook Ave	0.75mi	3/2.0	1,516 (+10%)	9mo	$140,000	$92	37

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 · 2.82% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 1.98×
• Total profit: $18,849
• Equity at exit: $10,273

10-year hold

• IRR: 31.6%
• Equity multiple: 3.82×
• Total profit: $54,469
• Equity at exit: $5,957

Cash invested: $19,292 (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 74801

• Home prices YoY: -1.7%
• Rents YoY: 2.8%
• Active inventory: 192
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$361
• Tax from tax record: −$57 /mo · $683/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $475

Break-even live

Break-even rent $566

Max offer price $68,900

Occupancy floor 54%

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
319 S Center Ave Shawnee, OK	3.0	2.0	1243	$1,245	$1.00	4d	1	0.50mi
721 E Wallace St Shawnee, OK	2.0	1.0	1176	$850	$0.72	4d	1	1.01mi
515 W 10th St Shawnee, OK	3.0	1.0	1131	$825	$0.73	20d	1	1.38mi

Listing history 19 events

1. 2026-06-19
   days on market $68,900 Active 65 DOM
2. 2026-06-18
   days on market $68,900 Active 64 DOM
3. 2026-06-17
   days on market $68,900 Active 63 DOM
4. 2026-06-16
   days on market $68,900 Active 62 DOM
5. 2026-06-16
   price $68,900 Active 61 DOM
6. 2026-06-15
   days on market $72,000 Active 61 DOM
7. 2026-06-14
   days on market $72,000 Active 59 DOM
8. 2026-06-12
   days on market $72,000 Active 58 DOM
9. 2026-06-09
   days on market $72,000 Active 55 DOM
10. 2026-06-08
    days on market $72,000 Active 54 DOM
11. 2026-06-07
    days on market $72,000 Active 53 DOM
12. 2026-06-05
    days on market $72,000 Active 50 DOM
13. 2026-06-02
    days on market $72,000 Active 48 DOM
14. 2026-06-01
    days on market $72,000 Active 47 DOM
15. 2026-05-31
    days on market $72,000 Active 46 DOM
16. 2026-05-30
    days on market $72,000 Active 45 DOM
17. 2026-05-15
    price $72,000
18. 2026-04-15
    listed $75,000 Active
19. 2016-06-22
    soldstatus $75,000

ⓘ 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: $683 · $57/mo
• Projected year-2 tax: $683 · $57/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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 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: $13,998
• − Mortgage interest: −$3,859
• − Property taxes: −$683
• − Insurance: −$344
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$2,004
• Taxable income: $4,867
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $4,527/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: Shawnee
• NCES district ID: 4027570
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 17% ▼ -10.00%
• Median HH income: $32,128
• Composite: 11.21/100
• National rank: #9724
• State rank: #238 of 270 in OK

Livability — Shawnee

• Score: 63/100
• State rank: #217
• US rank: #15593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shawnee, OK
• County: Pottawatomie County · 45,194 people
• City population: 45,194
• Metro: Shawnee, OK
• Population (ZIP): 21,967
• Household income: $55,077
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 594.0

Population outlook (Pottawatomie County) Hauer SSP2

• Today (2025): 76,622 people
• By 2030: 78,816 · +2.9%
• By 2040: 82,766 · +8.0%
• By 2050: 86,031 · +12.3%
• By 2075: 93,316 · +21.8%
• By 2100: 95,820 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Native American 15% Two or more races 10% Hispanic / Latino 7% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Pottawatomie

• 2024 margin: Solid R (+47.4) · D 25.2% · R 72.7% · Other 2.1%
• 2008→2024 swing: -9.1pp toward R · 2008: -38.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.0 2016: R+46.5 2012: R+38.7 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.66%
• Current HPI: 266.7965
• Rent YoY: ▲ 2.82%
• Metro: Shawnee, 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

-4.0% since first listed

3 events — show timeline

• 2026-05-15 Price Changed $72,000 MLSOK
• 2026-04-15 Listed $75,000 MLSOK
• 2016-06-22 Sold (Public Records) $75,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $683 · +2.6% YoY. Source: county tax records.