804 S Dogwood St · Luther, OK 73054

$175,000

4 bd · 2.0 ba · 1,290 sqft · SingleFamily public records · 173 Days on market

Built 1971 7,919 sqft lot Est $168k · at est.

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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 +10.4/30.0
• Appreciation +10.0/10.0
• ARV discount +5.5/15.0
• DSCR +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Schools +1.9/10.0

Listing remarks MLS

Calling all INVESTORS and HANDYMEN- If you're Looking for a Great Project to sink your teeth into, this property has Lots of Potential! Being sold AS IS - No repairs. Located in the Heart of Luther and across from the school. Super easy access to I-40. Great views of Sunsets and local wildlife; just needs some TLC! Cash only sale.

Key facts

• Move-in ready
• New flooring
• Updated paint

Tags

• NEW FLOORING
• UPDATED PAINT
• MODERN FINISHES
• MOVE-IN READY

Property features AI

Finance

• Other: Homestead exemption claimed; Corner and interior lot; Located in Chamberlains Add
• Financial info: Loan qualifications possible
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking; 1-car garage with garage door lift
• Utilities: Cable available; Electricity available; High speed internet available; Public utilities
• Home design: Single family residence; One level; Faces west; Existing property
• Construction: Frame and masonry veneer construction; Composition roof (replaced/installed 2012); Slab foundation
• Exterior features: Covered porch; Wire fencing

Interior

• Kitchen: Built-in electric range; Built-in electric oven
• Bedrooms: 4 bedrooms
• Flooring: Concrete; Carpet; Tile
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central electric heating
• Interior features: Ceiling fans
• Laundry & utility: Garage utility

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 $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (9.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (29.5% below list).
• Recommended offer: $123k (29.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#374 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Luther (rural): math 20% / reading 22% proficiency, ranked #146 of 270 in OK (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Luther Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 336 students, 0% FRL); Luther Ms (math 14% / reading 17%, grade F, #215 of 345 statewide, top 63%, 239 students, 0% FRL); Luther Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 248 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 65 active listings in the ZIP; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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

• It's been on market 173 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $106k; list at $175k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $123,349 (29.5% 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. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 5.65%
• Cash-on-cash: -2.31%
• DSCR: 0.90
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $167,700
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 N Dogwood St	0.30mi	3/2.0 (-1)	1,334 (+3%)	1mo	$175,000	$131	75
610 S Cedar St	0.14mi	3/2.0 (-1)	1,248 (-3%)	23mo	$123,000	$99	64
308 S 6th St	0.48mi	3/2.0 (-1)	1,280 (-1%)	20mo	$166,500	$130	54
605 NE 3rd St	0.64mi	3/2.0 (-1)	1,468 (+14%)	6mo	$173,500	$118	38
216 N Cedar St	0.60mi	3/1.5 (-1)	1,107 (-14%)	9mo	$195,500	$177	34

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: 22.6%
• Equity multiple: 2.82×
• Total profit: $89,231
• Equity at exit: $157,654

10-year hold

• IRR: 20.2%
• Equity multiple: 6.46×
• Total profit: $267,363
• 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 73054

• Home prices YoY: 15.9%
• Active inventory: 65
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-94

Break-even live

Break-even rent $1,353

Max offer price $158,329

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-45	+0% $-94	+5% $-144	+10% $-193
Rent	-10% $-192	-5% $-143	+0% $-94	+5% $-46	+10% $3
Rate	-1.0pp $-6	-0.5pp $-50	base $-94	+0.5pp $-140	+1.0pp $-186

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 14 events

1. 2026-01-22
   price $175,000
2. 2025-12-17
   price $178,500
3. 2025-12-06
   listed $180,000 Active
4. 2025-12-05
   historical
5. 2025-11-07
   price $180,000
6. 2025-10-02
   price $185,000
7. 2025-09-04
   price $187,500
8. 2025-08-05
   listed $189,500 Active
9. 2025-05-02
   soldstatus $106,500
10. 2025-04-29
    soldstatus $106,500 Closed 333-char remark

    Show marketing remark (333 chars)

    Calling all INVESTORS and HANDYMEN- If you're Looking for a Great Project to sink your teeth into, this property has Lots of Potential! Being sold AS IS - No repairs. Located in the Heart of Luther and across from the school. Super easy access to I-40. Great views of Sunsets and local wildlife; just needs some TLC! Cash only sale.

11. 2025-04-03
    status Pending 333-char remark

    Show marketing remark (333 chars)

    Calling all INVESTORS and HANDYMEN- If you're Looking for a Great Project to sink your teeth into, this property has Lots of Potential! Being sold AS IS - No repairs. Located in the Heart of Luther and across from the school. Super easy access to I-40. Great views of Sunsets and local wildlife; just needs some TLC! Cash only sale.

12. 2025-04-03
    status Active 333-char remark

    Show marketing remark (333 chars)

    Calling all INVESTORS and HANDYMEN- If you're Looking for a Great Project to sink your teeth into, this property has Lots of Potential! Being sold AS IS - No repairs. Located in the Heart of Luther and across from the school. Super easy access to I-40. Great views of Sunsets and local wildlife; just needs some TLC! Cash only sale.

13. 2025-03-29
    status Pending 333-char remark

    Show marketing remark (333 chars)

    Calling all INVESTORS and HANDYMEN- If you're Looking for a Great Project to sink your teeth into, this property has Lots of Potential! Being sold AS IS - No repairs. Located in the Heart of Luther and across from the school. Super easy access to I-40. Great views of Sunsets and local wildlife; just needs some TLC! Cash only sale.

14. 2025-03-28
    listed $105,000 Active 333-char remark

    Show marketing remark (333 chars)

    Calling all INVESTORS and HANDYMEN- If you're Looking for a Great Project to sink your teeth into, this property has Lots of Potential! Being sold AS IS - No repairs. Located in the Heart of Luther and across from the school. Super easy access to I-40. Great views of Sunsets and local wildlife; just needs some TLC! Cash only sale.

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$637/yr (+$53/mo · 67.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $14,802
• − Mortgage interest: −$9,803
• − Property taxes: −$938
• − Insurance: −$875
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$5,091
• Taxable loss: −$4,273
• Est. tax savings @ 24.0%: +$1,026
• After-tax cash flow: $-107/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: Luther
• NCES district ID: 4018630
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 22% ▼ -5.00%
• Median HH income: $55,830
• Composite: 19.3/100
• National rank: #8798
• State rank: #146 of 270 in OK

Livability — Luther

• Score: 59/100
• State rank: #374
• US rank: #19778

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Luther, OK
• City population: 4,562
• Population (ZIP): 4,562

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Native American 8% Hispanic / Latino 7% Two or more races 6% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Lithuanian 1% Portuguese 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 53.64%
• Current HPI: 390.5721
• 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

+66.7% since first listed

14 events — show timeline

• 2026-01-22 Price Changed $175,000 MLSOK
• 2025-12-17 Price Changed $178,500 MLSOK
• 2025-12-06 Listed $180,000 MLSOK
• 2025-12-05 Listing Removed — MLSOK
• 2025-11-07 Price Changed $180,000 MLSOK
• 2025-10-02 Price Changed $185,000 MLSOK
• 2025-09-04 Price Changed $187,500 MLSOK
• 2025-08-05 Listed $189,500 MLSOK
• 2025-05-02 Sold (Public Records) $106,500 Public Records
• 2025-04-29 Sold (MLS) $106,500 MLSOK
• 2025-04-03 Pending — MLSOK
• 2025-04-03 Relisted — MLSOK
• 2025-03-29 Pending — MLSOK
• 2025-03-28 Listed $105,000 MLSOK

Property tax history

+7.0%/yr

Latest (2025): $938 · +4.8% YoY. Source: county tax records.