205 Lester Ln · Cleveland, OK 74020

$107,000

3 bd · 1.0 ba · 1,138 sqft · SingleFamily public records · 7 Days on market

Built 1970 9,522 sqft lot Est $139k · 23% under ↓ 24% since listing

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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 +17.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.6/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Nestled in a peaceful cul-de-sac, this 3-bedroom, 1-bathroom home offers a wonderful opportunity for those seeking space, privacy, and potential. The property boasts a generous yard for gardening and plenty of space for kids to play. Come take a look! Selling as is.

Key facts

• Generous yard
• Cul-de-sac
• 9,522 sq ft lot

Tags

• CUL-DE-SAC
• GENEROUS YARD

Property features AI

Exterior

• Parking: Attached garage with 1 space
• Security: Owned security system; No safety shelter
• Utilities: Public water; Public sewer; Power/utilities unknown
• Home design: Single-story home; Faces west; Slab foundation
• Construction: Brick and concrete construction; Asphalt/fiberglass roof; Built (per public records)
• Exterior features: Concrete driveway; Covered patio and porch; Partial fencing; Located on a cul-de-sac

Interior

• Kitchen: Double oven; Dishwasher; Disposal; Microwave; Oven; Range
• Bedrooms: Three first-floor bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom with bathtub (hall bath)
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Aluminum window frames; Ceramic counters; High-speed internet available; Gas range and gas oven connections
• Laundry & utility: Washer hookup; Electric dryer hookup; Inside utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/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 $95k (11.2% below list).
• Recommended offer: $95k (11.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#93 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, schools D-.
• Cleveland (town): math 21% / reading 19% proficiency, ranked #169 of 270 in OK (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3 units permitted in Pawnee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($740 loan paydown + $11k appreciation (10.0% local appreciation)).
• Pawnee County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: major 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 $95,000 (11.2% below list)

Questions for the listing agent

1. Built in 1970 — 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 D-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: 0.89% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $138,836
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 N Gilbert Ave	0.29mi	3/1.5	1,238 (+9%)	3mo	$170,000	$137	67
1306 Jodebo Rd	0.05mi	3/2.0	1,260 (+11%)	11mo	$175,000	$139	67
702 W Wichita St	0.35mi	3/1.5	1,176 (+3%)	13mo	$165,900	$141	65
601 W Wichita Ave W	0.48mi	3/1.0	1,227 (+8%)	6mo	$48,000	$39	59
1004 W Delaware St	0.30mi	3/1.0	1,260 (+11%)	14mo	$135,000	$107	56
409 S Gilbert St	0.49mi	3/1.0	1,080 (-5%)	17mo	$65,000	$60	55
603 Hickory Dr	0.53mi	3/1.5	1,092 (-4%)	15mo	$150,000	$137	54
700 Cedar Ct	0.72mi	3/1.5	1,104 (-3%)	6mo	$129,900	$118	54
710 W Osage St	0.52mi	3/2.0	1,024 (-10%)	2mo	$25,000	$24	53
100 Birch Ct	0.57mi	3/1.5	1,200 (+5%)	12mo	$146,000	$122	52
1201 W Pawnee St	0.14mi	2/1.0 (-1)	968 (-15%)	15mo	$118,500	$122	51
310 W Delaware St	0.72mi	2/1.0 (-1)	1,068 (-6%)	14mo	$85,000	$80	40

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: 26.9%
• Equity multiple: 3.14×
• Total profit: $64,029
• Equity at exit: $96,394

10-year hold

• IRR: 23.5%
• Equity multiple: 7.14×
• Total profit: $183,933
• Equity at exit: $207,877

Cash invested: $29,960 (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 74020

• Home prices YoY: 6.9%
• Active inventory: 86
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $91

Break-even live

Break-even rent $835

Max offer price $107,000

Occupancy floor 85%

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
803 W Cherokee St Cleveland, OK	2.0	1.0	768	$950	$1.24	3d	1	0.43mi

Listing history 5 events

1. 2026-06-07
   statusdays on market $107,000 Pending 7 DOM
2. 2026-06-03
   days on market $107,000 Active 3 DOM
3. 2026-06-02
   days on market $107,000 Active 2 DOM
4. 2026-06-01
   remarks 266-char remark
5. 2026-06-01
   listed $107,000 Active 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: $647 · $54/mo
• Projected year-2 tax: $963 · $80/mo
• Expected delta: +$316/yr (+$26/mo · 48.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,400
• − Mortgage interest: −$5,994
• − Property taxes: −$647
• − Insurance: −$535
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$3,113
• Taxable loss: −$712
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $1,262/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: Cleveland
• NCES district ID: 4008040
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 19% ▼ -11.00%
• Median HH income: $45,642
• Composite: 17.52/100
• National rank: #9049
• State rank: #169 of 270 in OK

Livability — Cleveland

• Score: 67/100
• State rank: #93
• US rank: #10844

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, OK
• Population (ZIP): 7,365

Population outlook (Pawnee County) Hauer SSP2

• Today (2025): 16,219 people
• By 2030: 16,028 · -1.2%
• By 2040: 15,724 · -3.1%
• By 2050: 15,563 · -4.0%
• By 2075: 15,905 · -1.9%
• By 2100: 16,058 · -1.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 12% Native American 6% Hispanic / Latino 4% Black 1%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Pawnee

• 2024 margin: Solid R (+58.9) · D 19.7% · R 78.6% · Other 1.7%
• 2008→2024 swing: -21.4pp toward R · 2008: -37.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+57.5 2016: R+53.2 2012: R+40.0 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.01%
• Current HPI: 218.04
• 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

-23.6% since first listed

10 events — show timeline

• 2026-05-31 Listed $107,000 MLS Technology, Inc.
• 2026-05-13 Listing Removed — MLS Technology, Inc.
• 2026-04-06 Relisted — MLS Technology, Inc.
• 2026-04-06 Price Changed $107,000 MLS Technology, Inc.
• 2026-01-16 Listing Removed — MLS Technology, Inc.
• 2025-12-08 Price Changed $119,500 MLS Technology, Inc.
• 2025-05-13 Listing Removed — MLS Technology, Inc.
• 2025-05-13 Listed $129,500 MLS Technology, Inc.
• 2025-03-10 Price Changed $129,500 MLS Technology, Inc.
• 2025-01-10 Listed $140,000 MLS Technology, Inc.

Property tax history

+2.0%/yr

Latest (2025): $647 · +7.7% YoY. Source: county tax records.