2405 W Cherokee Ave · Enid, OK 73703

$115,000

3 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 59 Days on market

Built 1950 Est $99k · 16% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

95% Conventional Loan @Prime Lending, 3.625% int, 30 yrs 1086 sq ft mol per Courthouse Records Concessions pd by Seller for Buyer $1,800 move in ready

Key facts

• Wood flooring
• Good storage options
• Updated windows

Tags

• WOOD FLOORING
• UPDATED WINDOWS
• NATURAL LIGHT
• GOOD STORAGE OPTIONS
• DEDICATED DINING SPACE
• WALK-IN SHOWER

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story; Faces north; Vinyl siding
• Construction: Vinyl siding construction; Composition roof
• Exterior features: Chain link fence; Composition roof

Interior

• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Hardwood and vinyl flooring; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 5.0% in Enid — 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 (#212 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D-, crime F.
• Enid (town): math 19% / reading 22% proficiency, ranked #168 of 270 in OK (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 171 active listings in the ZIP; 19 units permitted in Garfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Garfield County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago 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 $60k; list at $115k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1950 — 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 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?
5. 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?
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: 1.27% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.09%
• DSCR: 1.72
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $98,826
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2522 W Oklahoma Ave	0.12mi	2/1.0 (-1)	1,134 (+4%)	1mo	$99,000	$87	81
1815 W Oklahoma Ave	0.42mi	3/2.0	1,062 (-2%)	0mo	$120,000	$113	73
201 Western Dr	0.20mi	2/1.0 (-1)	1,069 (-2%)	13mo	$94,500	$88	72
2709 W Oklahoma Ave	0.25mi	3/1.0	1,172 (+8%)	9mo	$136,000	$116	68
413 S Arthur St	0.16mi	3/1.5	1,011 (-7%)	14mo	$112,000	$111	67
618 N Harding St	0.73mi	3/1.5	1,123 (+3%)	0mo	$55,000	$49	58
2117 W Randolph Ave	0.31mi	3/2.0	1,140 (+5%)	18mo	$104,000	$91	58
101 N Watson St	0.63mi	3/1.5	1,101 (+1%)	16mo	$144,000	$131	53
2313 W Randolph Ave	0.25mi	2/1.0 (-1)	928 (-14%)	20mo	$60,000	$65	43
1625 W Maple Ave	0.63mi	3/1.0	1,224 (+13%)	10mo	$83,500	$68	41
1824 W Elm Ave	0.58mi	3/1.0	1,248 (+15%)	10mo	$65,500	$52	40
315 S Buchanan St	0.53mi	2/1.0 (-1)	1,209 (+11%)	21mo	$120,000	$99	34

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 · 2.42% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.25×
• Total profit: $7,998
• Equity at exit: $17,147

10-year hold

• IRR: 15.3%
• Equity multiple: 2.21×
• Total profit: $38,851
• Equity at exit: $9,943

Cash invested: $32,200 (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 73703

• Rents YoY: 2.4%
• Active inventory: 171
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,456 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$67 /mo · $807/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $432

Break-even live

Break-even rent $909

Max offer price $115,000

Occupancy floor 65%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $115,000 Active 59 DOM
2. 2026-06-18
   days on market $115,000 Active 58 DOM
3. 2026-06-17
   days on market $115,000 Active 57 DOM
4. 2026-06-16
   days on market $115,000 Active 56 DOM
5. 2026-06-15
   days on market $115,000 Active 55 DOM
6. 2026-06-14
   days on market $115,000 Active 53 DOM
7. 2026-06-12
   days on market $115,000 Active 52 DOM
8. 2026-06-09
   days on market $115,000 Active 49 DOM
9. 2026-06-08
   days on market $115,000 Active 48 DOM
10. 2026-06-07
    days on market $115,000 Active 47 DOM
11. 2026-06-02
    days on market $115,000 Active 42 DOM
12. 2026-06-01
    days on market $115,000 Active 41 DOM
13. 2026-05-31
    days on market $115,000 Active 40 DOM
14. 2026-05-30
    days on market $115,000 Active 39 DOM
15. 2026-04-20
    listed $115,000 Active
16. 2016-09-26
    soldstatus $60,000 150-char remark

    Show marketing remark (150 chars)

    95% Conventional Loan @Prime Lending, 3.625% int, 30 yrs 1086 sq ft mol per Courthouse Records Concessions pd by Seller for Buyer $1,800 move in ready

17. 2016-08-09
    listed $62,000 150-char remark

    Show marketing remark (150 chars)

    95% Conventional Loan @Prime Lending, 3.625% int, 30 yrs 1086 sq ft mol per Courthouse Records Concessions pd by Seller for Buyer $1,800 move in ready

18. 2011-03-28
    soldstatus $42,500
19. 1994-10-04
    soldstatus $39,000

ⓘ 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: $807 · $67/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$228/yr (+$19/mo · 28.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $17,469
• − Mortgage interest: −$6,442
• − Property taxes: −$807
• − Insurance: −$575
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$3,345
• Taxable income: $3,505
• Est. tax owed @ 24.0%: −$841
• After-tax cash flow: $4,341/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: Enid
• NCES district ID: 4010920
• Math proficiency: 19% ▼ -11.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $42,389
• Composite: 17.59/100
• National rank: #9040
• State rank: #168 of 270 in OK

Livability — Enid

• Score: 63/100
• State rank: #212
• US rank: #15472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enid, OK
• County: Garfield County · 55,032 people
• City population: 55,032
• Metro: Enid, OK
• Population (ZIP): 30,556
• Household income: $73,333
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 702.0

Population outlook (Garfield County) Hauer SSP2

• Today (2025): 69,026 people
• By 2030: 72,171 · +4.6%
• By 2040: 79,366 · +15.0%
• By 2050: 87,847 · +27.3%
• By 2075: 112,714 · +63.3%
• By 2100: 135,682 · +96.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 2% Slovak 2% Serbian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 1%

Political lean MEDSL · Garfield

• 2024 margin: Solid R (+53.8) · D 22.2% · R 76.0% · Other 1.8%
• 2008→2024 swing: -2.8pp toward R · 2008: -51.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+53.7 2016: R+53.5 2012: R+52.5 2008: R+51.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.61%
• Current HPI: 187.8197
• Rent YoY: ▲ 2.42%
• Metro: Enid, 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

+194.9% since first listed

5 events — show timeline

• 2026-04-20 Listed $115,000 NWOAR
• 2016-09-26 Sold (MLS) $60,000 NWOAR
• 2016-08-09 Listed $62,000 NWOAR
• 2011-03-28 Sold (Public Records) $42,500 Public Records
• 1994-10-04 Sold (Public Records) $39,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $807 · +4.3% YoY. Source: county tax records.