304 N Joanna · Catoosa, OK 74015

$22,000

3 bd · 2.0 ba · 1,474 sqft · SingleFamily public records · 8 Days on market

Built 1999

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.8/10.0
• Schools +1.5/10.0

Listing remarks MLS

AMAZING 3 BED 2 BATH IN GREAT NEIGHBORHOOD! HIS AND HERS WALK-IN CLOSETS! PHENOMENAL BACK PATIO FOR RELAXATION PARADISE! F5 10 PERSON STORM CELLAR LOCATED IN GARAGE!

Key facts

• Double vanity
• Walk-in closet
• Indoor pantry

Tags

• GREAT ROOM
• BREAKFAST BAR
• WALK-IN CLOSET
• DOUBLE VANITY
• INDOOR PANTRY
• INDOOR LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $876 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Cap rate 54.0% vs local median 2.4% in Catoosa — 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 61/100 on livability (#295 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment C-, schools F, amenities F.
• Catoosa (suburban): math 15% / reading 18% proficiency, ranked #195 of 270 in OK (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 76 active listings in the ZIP; 608 units permitted in Rogers County in 2024 (7 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $152 of loan paydown is wiped out by about $660 of value loss. Plan a longer hold.
• Rogers County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 26y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 5.91% ✓
• Cap rate: 54.05%
• Cash-on-cash: 170.56%
• DSCR: 8.59
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $232,892
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 N Joanna St	0.00mi	3/2.0	1,474 (0%)	15mo	$249,000	$169	88
509 W Ryan St	0.12mi	4/2.0 (+1)	1,479 (+0%)	10mo	$230,000	$156	80
515 W Denny St	0.08mi	3/2.0	1,323 (-10%)	5mo	$208,000	$157	75
507 W Matthew St	0.04mi	3/2.0	1,333 (-10%)	10mo	$217,000	$163	74
306 N Frisco St	0.45mi	3/2.0	1,400 (-5%)	2mo	$255,000	$182	69
527 Chief Stand Waite Ln	0.15mi	3/2.0	1,279 (-13%)	4mo	$175,000	$137	68
522 Chief Stand Waite Ln	0.17mi	4/2.0 (+1)	1,604 (+9%)	13mo	$209,000	$130	62
303 W Elm St	0.75mi	3/2.0	1,478 (+0%)	6mo	$160,000	$108	59
19412 Holly Ct	0.32mi	4/2.0 (+1)	1,583 (+7%)	10mo	$250,000	$158	59
508 W Ryan Pl	0.09mi	3/2.0	1,274 (-14%)	18mo	$240,000	$188	58
314 N Cherokee St	0.60mi	3/2.0	1,644 (+12%)	1mo	$225,000	$137	52
217 N Cromwell St	0.42mi	3/1.0	1,305 (-12%)	9mo	$214,900	$165	50

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: —
• Equity multiple: 9.48×
• Total profit: $52,217
• Equity at exit: $3,280

10-year hold

• IRR: —
• Equity multiple: 20.05×
• Total profit: $117,352
• Equity at exit: $1,902

Cash invested: $6,160 (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 74015

• Home prices YoY: -2.0%
• Active inventory: 76
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,301 medium
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$28 /mo · $330/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $876

Break-even live

Break-even rent $192

Max offer price $22,000

Occupancy floor 28%

Sensitivity live

Price	-10% $891	-5% $883	+0% $876	+5% $868	+10% $860
Rent	-10% $773	-5% $824	+0% $876	+5% $927	+10% $978
Rate	-1.0pp $887	-0.5pp $881	base $876	+0.5pp $870	+1.0pp $864

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-15
   days on market $22,000 Active 8 DOM
2. 2026-06-13
   days on market $22,000 Active 6 DOM
3. 2026-06-13
   days on market $22,000 Active 5 DOM
4. 2026-06-10
   days on market $22,000 Active 3 DOM
5. 2026-06-09
   days on market $22,000 Active 2 DOM
6. 2026-06-08
   remarks 276-char remark
7. 2026-06-08
   listed $22,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,608
• − Mortgage interest: −$1,232
• − Property taxes: −$330
• − Insurance: −$110
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$640
• Taxable income: $10,799
• Est. tax owed @ 24.0%: −$2,592
• After-tax cash flow: $7,914/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: Catoosa
• NCES district ID: 4006870
• Math proficiency: 15% ▼ -12.00%
• Reading proficiency: 18% ▼ -8.00%
• Median HH income: $52,968
• Composite: 15.29/100
• National rank: #9330
• State rank: #195 of 270 in OK

Livability — Catoosa

• Score: 61/100
• State rank: #295
• US rank: #17666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catoosa, OK
• Population (ZIP): 8,653

Population outlook (Rogers County) Hauer SSP2

• Today (2025): 100,211 people
• By 2030: 104,381 · +4.2%
• By 2040: 111,567 · +11.3%
• By 2050: 116,791 · +16.5%
• By 2075: 129,134 · +28.9%
• By 2100: 132,326 · +32.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 63% Two or more races 17% Native American 12% Hispanic / Latino 11% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 9% Other Asian/Pacific 2%

Political lean MEDSL · Rogers

• 2024 margin: Solid R (+55.0) · D 21.6% · R 76.6% · Other 1.7%
• 2008→2024 swing: -10.9pp toward R · 2008: -44.1pp · 2024: -55.0pp
• All cycles: 2024: R+55.0 2020: R+54.9 2016: R+56.3 2012: R+50.1 2008: R+44.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.46%
• Current HPI: 310.9
• 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

-75.3% since first listed

25 events — show timeline

• 2026-06-08 Listed $22,000 FSBO.com
• 2025-04-09 Sold (Public Records) $249,000 Public Records
• 2025-04-03 Sold (MLS) $249,000 MLS Technology, Inc.
• 2025-03-04 Pending — MLS Technology, Inc.
• 2025-02-13 Listed $249,000 MLS Technology, Inc.
• 2024-03-28 Sold (Public Records) $229,000 Public Records
• 2024-03-28 Sold (MLS) $229,000 MLS Technology, Inc.
• 2024-03-06 Pending — MLS Technology, Inc.
• 2024-03-03 Relisted — MLS Technology, Inc.
• 2024-02-09 Pending — MLS Technology, Inc.
• 2024-02-02 Listed $229,000 MLS Technology, Inc.
• 2011-05-03 Sold (Public Records) $110,000 Public Records
• 2011-04-28 Sold (MLS) $110,000 MLS Technology, Inc.
• 2011-03-05 Listing Removed — MLS Technology, Inc.
• 2010-10-22 Listed $113,500 MLS Technology, Inc.
• 2004-11-05 Sold (MLS) $110,000 MLS Technology, Inc.
• 2004-10-08 Listing Removed — MLS Technology, Inc.
• 2004-10-01 Sold (Public Records) $110,000 Public Records
• 2004-07-30 Listed $110,000 MLS Technology, Inc.
• 2004-07-19 Listing Removed — MLS Technology, Inc.
• 2004-06-16 Listed $114,900 MLS Technology, Inc.
• 2001-03-30 Sold (MLS) $82,007 MLS Technology, Inc.
• 2001-01-16 Listing Removed — MLS Technology, Inc.
• 2000-11-30 Listed $86,000 MLS Technology, Inc.
• 1999-07-01 Sold (Public Records) $89,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,687 · +52.8% YoY. Source: county tax records.