507 S 2nd St · Morris, OK 74445

$165,000

4 bd · 2.0 ba · 1,510 sqft · SingleFamily public records · 128 Days on market

Built 1988 7,000 sqft lot Est $192k · 14% 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).

• ARV discount +13.8/15.0
• Cash flow +13.3/30.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.4/10.0
• Schools +2.2/10.0

Listing remarks

Well-maintained, one-owner full brick home offering 4 bedrooms, 1.5 baths, and two spacious living areas perfect for flexible living and entertaining. Recent updates include a 5-year-old roof, updated windows, newer water heater, new blinds, and upgraded bathroom sinks and toilets. The kitchen comes complete with all appliances included. All new luxury vinyl flooring install throughout home. Enjoy the covered front porch and convenient carport parking. Located in the Morris School District and just minutes from the post office and local amenities. A solid, move-in-ready home with great bones and thoughtful improvements throughout.

Key facts

• Covered front porch
• Recent updates
• Full brick home

Tags

• FULL BRICK HOME
• TWO SPACIOUS LIVING AREAS
• RECENT UPDATES
• COVERED FRONT PORCH
• CONVENIENT CARPORT PARKING
• MORRIS SCHOOL DISTRICT

Property features AI

Finance

• HOA & community: Sidewalks; Gutters

Exterior

• Parking: 1-car garage; Carport
• Security: No safety shelter
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story; Faces west; Slab foundation
• Construction: Brick and wood-frame construction; Asphalt/fiberglass roof; Built according to public records
• Exterior features: Concrete driveway; Rain gutters; Covered porch

Interior

• Kitchen: Dishwasher; Oven; Range / Stove; Refrigerator; Gas water heater
• Flooring: Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Vinyl, insulated windows; Laminate countertops; Gas range and gas oven connections
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $0 ($4/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 $125k (24.4% below list).
• Recommended offer: $125k (24.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#184 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Morris (town): math 18% / reading 32% proficiency, ranked #100 of 270 in OK (top 37%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morris Es (math 31% / reading 38%, grade F, #168 of 845 statewide, top 24%, 440 students, 0% FRL); Morris Ms (math 8% / reading 30%, grade F, #178 of 345 statewide, top 52%, 215 students, 0% FRL); Morris Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 290 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 37 active listings in the ZIP; 12 units permitted in Okmulgee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Okmulgee County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

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 $124,665 (24.4% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.76% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $191,770
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 S 1st St	0.09mi	3/2.0 (-1)	1,468 (-3%)	2mo	$187,000	$127	85
701 S 4th St	0.23mi	3/1.0 (-1)	1,512 (+0%)	3mo	$132,000	$87	78
504 N Hughes Ave	0.59mi	3/2.0 (-1)	1,476 (-2%)	5mo	$197,000	$133	60
210 N 3rd St	0.42mi	3/2.0 (-1)	1,644 (+9%)	8mo	$159,000	$97	54
108 S 5th St	0.37mi	3/1.5 (-1)	1,344 (-11%)	6mo	$18,000	$13	52
412 N Hughes St	0.55mi	3/2.0 (-1)	1,728 (+14%)	7mo	$210,000	$122	40
515 N 6th St	0.72mi	3/2.0 (-1)	1,570 (+4%)	24mo	$372,000	$237	35
109 E Monroe St	0.70mi	3/2.0 (-1)	1,336 (-12%)	21mo	$180,000	$135	26

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-26,793
• Equity at exit: $24,602

10-year hold

• IRR: -8.2%
• Equity multiple: 0.49×
• Total profit: $-23,617
• Equity at exit: $14,266

Cash invested: $46,200 (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 74445

• Home prices YoY: -1.8%
• Active inventory: 37
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,247 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $0

Break-even live

Break-even rent $1,246

Max offer price $165,000

Occupancy floor 95%

Sensitivity live

Price	-10% $94	-5% $47	+0% $0	+5% $-46	+10% $-93
Rent	-10% $-98	-5% $-49	+0% $0	+5% $50	+10% $99
Rate	-1.0pp $83	-0.5pp $42	base $0	+0.5pp $-42	+1.0pp $-86

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $165,000 Active 128 DOM
2. 2026-06-21
   days on market $165,000 Active 127 DOM
3. 2026-06-18
   days on market $165,000 Active 125 DOM
4. 2026-06-17
   days on market $165,000 Active 124 DOM
5. 2026-06-16
   days on market $165,000 Active 123 DOM
6. 2026-06-15
   days on market $165,000 Active 122 DOM
7. 2026-06-13
   days on market $165,000 Active 120 DOM
8. 2026-06-12
   days on market $165,000 Active 119 DOM
9. 2026-06-09
   days on market $165,000 Active 116 DOM
10. 2026-06-08
    days on market $165,000 Active 115 DOM
11. 2026-06-08
    days on market $165,000 Active 114 DOM
12. 2026-06-05
    days on market $165,000 Active 112 DOM
13. 2026-06-04
    days on market $165,000 Active 110 DOM
14. 2026-06-02
    days on market $165,000 Active 109 DOM
15. 2026-06-01
    days on market $165,000 Active 108 DOM
16. 2026-05-31
    days on market $165,000 Active 107 DOM
17. 2026-02-13
    listed $165,000 Active

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: +$879/yr (+$73/mo · 145.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,960
• − Mortgage interest: −$9,243
• − Property taxes: −$606
• − Insurance: −$825
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$4,800
• Taxable loss: −$2,907
• Est. tax savings @ 24.0%: +$698
• After-tax cash flow: $702/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: Morris
• NCES district ID: 4020310
• Math proficiency: 18% ▼ -15.00%
• Reading proficiency: 32% ▼ -10.00%
• Median HH income: $50,249
• Composite: 22.03/100
• National rank: #8202
• State rank: #100 of 270 in OK

Livability — Morris

• Score: 64/100
• State rank: #184
• US rank: #14506

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morris, OK
• Population (ZIP): 3,027

Population outlook (Okmulgee County) Hauer SSP2

• Today (2025): 37,543 people
• By 2030: 36,528 · -2.7%
• By 2040: 34,430 · -8.3%
• By 2050: 32,498 · -13.4%
• By 2075: 28,814 · -23.3%
• By 2100: 25,193 · -32.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Native American 14% Two or more races 10% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Okmulgee

• 2024 margin: Solid R (+42.7) · D 27.7% · R 70.4% · Other 1.9%
• 2008→2024 swing: -25.7pp toward R · 2008: -17.0pp · 2024: -42.7pp
• All cycles: 2024: R+42.7 2020: R+37.1 2016: R+32.7 2012: R+17.5 2008: R+17.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.13%
• Current HPI: 275.9926
• 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

1 event — show timeline

• 2026-02-13 Listed $165,000 MLS Technology, Inc.

Property tax history

+4.5%/yr

Latest (2025): $606 · +5.4% YoY. Source: county tax records.