117 S 5th St · Noble, OK 73068

$124,900

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 1 Days on market

Built 1940 6,970 sqft lot Est $132k · 5% 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).

• Cash flow +12.9/30.0
• ARV discount +9.8/15.0
• DSCR +3.9/10.0
• Livability +3.3/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Cute as a button and sitting on a rare double lot, this absolutely darling Noble home is ready for you to move right in! This 2-bedroom, 1-bath home offers 806 square feet of charm, character, and thoughtful updates throughout. Step inside to beautifully refinished original hardwood floors, abundant natural light, and a warm, inviting feel from the moment you enter. The updated kitchen features new countertops, subway tile backsplash, updated hardware, ample cabinet storage, and a functional layout perfect for everyday living. The refrigerator, microwave, washer, and dryer all remain with the home, making your move simple and stress-free. Just bring your personal belongings and start enjoyi

Key facts

• Spacious yard
• Charming front porch
• Covered carport

Tags

• DOUBLE LOT
• UPDATED KITCHEN
• SPACIOUS YARD
• COVERED CARPORT
• CHARMING FRONT PORCH

Property features AI

Finance

• Financial info: Loan qualifying permitted; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Home design: Single-family residence; One level; Frame construction
• Construction: Shingle roof; Conventional foundation; Frame construction
• Exterior features: Workshop; Corner lot

Interior

• Kitchen: Gas range/oven
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Dishwasher; Disposal; Microwave; Refrigerator; Water heater; No fireplace
• Laundry & utility: Washer and dryer included; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-10 ($-114/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (21.8% below list).
• Recommended offer: $98k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.7% in Noble — 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 66/100 on livability (#107 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.
• Noble (suburban): math 23% / reading 25% proficiency, ranked #108 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Noble Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 883 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 215 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 592 units permitted in Cleveland County in 2024 (12 in 5+ unit buildings).
• This rent is only 16% of the median local income ($74k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cleveland County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $17k; list at $125k implies a 635% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $97,679 (21.8% 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 1940 — 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. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $131,768
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 S 2nd St	0.26mi	1/1.0 (-1)	727 (-0%)	5mo	$97,000	$133	79
105 S 2nd St	0.23mi	2/1.0	764 (+5%)	15mo	$138,500	$181	69
406 S 7th St	0.28mi	2/1.0	800 (+10%)	15mo	$151,000	$189	58

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-20,882
• Equity at exit: $18,623

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-19,110
• Equity at exit: $10,799

Cash invested: $34,972 (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 73068

• Home prices YoY: -4.8%
• Active inventory: 215
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $977 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$74 /mo · $890/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $-10

Break-even live

Break-even rent $989

Max offer price $123,216

Occupancy floor 96%

Sensitivity live

Price	-10% $61	-5% $26	+0% $-10	+5% $-45	+10% $-80
Rent	-10% $-87	-5% $-48	+0% $-10	+5% $29	+10% $68
Rate	-1.0pp $53	-0.5pp $22	base $-10	+0.5pp $-42	+1.0pp $-75

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
615 S 6th St Unit 615 Noble, OK	2.0	1.0	660	$900	$1.36	3d	1	0.44mi
614 S 7th St Noble, OK	2.0	1.0	660	$850	$1.29	3d	1	0.44mi
613 S 6th St Noble, OK	2.0	1.0	660	$900	$1.36	3d	1	0.45mi
901 U.S. 77 Unit 5 Noble, OK	2.0	1.0	650	$800	$1.23	5d	1	0.74mi

Listing history 2 events

1. 2026-06-07
   remarks 699-char remark
2. 2026-06-07
   listed $124,900 Pending 1 DOM

ⓘ 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: $890 · $74/mo
• Projected year-2 tax: $1,124 · $94/mo
• Expected delta: +$234/yr (+$20/mo · 26.3%)

ⓘ 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 6/10 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: $11,721
• − Mortgage interest: −$6,996
• − Property taxes: −$890
• − Insurance: −$624
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$3,633
• Taxable loss: −$2,298
• Est. tax savings @ 24.0%: +$552
• After-tax cash flow: $437/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: Noble
• NCES district ID: 4021630
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 25% ▼ -7.00%
• Median HH income: $50,812
• Composite: 21.31/100
• National rank: #8384
• State rank: #108 of 270 in OK

Livability — Noble

• Score: 66/100
• State rank: #107
• US rank: #11489

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Noble, OK
• County: Cleveland County · 239,547 people
• City population: 12,258
• Metro: Oklahoma City, OK
• Population (ZIP): 12,258
• Household income: $73,821
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 301.0

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 323,621 people
• By 2030: 349,070 · +7.9%
• By 2040: 400,168 · +23.7%
• By 2050: 454,101 · +40.3%
• By 2075: 602,926 · +86.3%
• By 2100: 734,485 · +127.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 5% Native American 5% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cleveland

• 2024 margin: R (+14.9) · D 41.4% · R 56.4% · Other 2.2%
• 2008→2024 swing: +9.1pp toward D · 2008: -24.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+14.1 2016: R+21.7 2012: R+25.9 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.99%
• Current HPI: 278.428
• 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

+634.7% since first listed

3 events — show timeline

• 2026-06-05 Pending — MLSOK
• 2026-06-04 Listed $124,900 MLSOK
• 1987-05-01 Sold (Public Records) $17,000 Public Records

Property tax history

+9.4%/yr

Latest (2024): $890 · +3.5% YoY. Source: county tax records.