502 S Cedar Ave · Tahlequah, OK 74464

$150,000

3 bd · 1.0 ba · 1,350 sqft · SingleFamily · 178 Days on market

Built 1989 0.25 ac lot Est $192k · 22% under ↓ 17% 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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Rent growth +4.8/5.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

3 Bed, 1 bath full brick home near Greenwood Elementary and Medical Complex! Ready for your finishing touches! Large backyard is partially fenced. Covered Carport for convenience and outdoor living or hobbies! "Utilites are not on. All offers subject to probate. "

Key facts

• Covered carport
• Large backyard
• Full brick home

Tags

• FULL BRICK HOME
• LARGE BACKYARD
• COVERED CARPORT

Property features AI

Exterior

• Parking: Attached garage; 1 garage space; Carport
• Security: No safety shelter
• Utilities: Cable available; Electricity available; Natural gas available; Phone available; Public water; Public sewer
• Home design: Single-story; Faces east; Slab foundation
• Construction: Built with brick and wood frame; Asphalt/fiberglass roof
• Exterior features: Concrete driveway; Enclosed porch; Porch; Partial fencing; Mature trees on lot

Interior

• Kitchen: Oven; Range; Stove
• Flooring: Concrete floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Aluminum window frames; Insulated windows; Laminate countertops; Electric oven and range connections
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $22 ($268/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 $134k (10.6% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.3% in Tahlequah — 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 66/100 on livability (#124 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: amenities D, commute F, employment F.
• Tahlequah (town): math 27% / reading 25% proficiency, ranked #109 of 270 in OK (top 40%) — 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.
• Zoned schools: Greenwood Es (math 26% / reading 21%, grade F, #407 of 845 statewide, top 48%, 503 students, 0% FRL); Tahlequah Ms (math 28% / reading 25%, grade F, #77 of 345 statewide, top 22%, 676 students, 0% FRL); Tahlequah Hs (math 23% / reading 33%, grade F, #122 of 447 statewide, top 27%, 1,300 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+9.2%/yr); 369 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
6. 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.
7. 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: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $191,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 N Logan Dr	0.38mi	2/2.0 (-1)	1,352 (+0%)	6mo	$111,300	$82	68
601 Quail Ridge Dr	0.38mi	3/2.0	1,458 (+8%)	3mo	$228,000	$156	62
508 Garden Rd	0.13mi	4/1.0 (+1)	1,536 (+14%)	7mo	$187,850	$122	60
1003 Kaufman Ave	0.48mi	3/2.0	1,260 (-7%)	5mo	$108,500	$86	58
1205 Jay Ln	0.65mi	4/1.5 (+1)	1,300 (-4%)	1mo	$200,000	$154	56
204 Woodhaven Ave	0.48mi	3/2.0	1,493 (+11%)	7mo	$235,000	$157	50
413 Greenwood Dr	0.55mi	3/2.0	1,472 (+9%)	6mo	$209,000	$142	50
1105 S Maple Ave	0.69mi	3/2.0	1,467 (+9%)	5mo	$197,000	$134	45
606 Goingsnake St	0.68mi	3/2.0	1,476 (+9%)	8mo	$200,000	$136	42
702 Wilson Ave	0.61mi	3/2.0	1,552 (+15%)	5mo	$187,700	$121	38
261 Redbud Ln	0.69mi	4/2.0 (+1)	1,500 (+11%)	8mo	$218,000	$145	34
709 Brentwood Dr	0.73mi	3/2.0	1,526 (+13%)	8mo	$224,000	$147	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.62×
• Total profit: $-15,779
• Equity at exit: $22,365

10-year hold

• IRR: 5.4%
• Equity multiple: 1.49×
• Total profit: $20,417
• Equity at exit: $12,969

Cash invested: $42,000 (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 74464

• Rents YoY: 9.2%
• Active inventory: 369
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,340 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $22

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 93%

Sensitivity live

Price	-10% $126	-5% $74	+0% $22	+5% $-29	+10% $-81
Rent	-10% $-84	-5% $-31	+0% $22	+5% $75	+10% $128
Rate	-1.0pp $98	-0.5pp $60	base $22	+0.5pp $-17	+1.0pp $-56

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-05
   days on market $150,000 Active 178 DOM
2. 2026-06-03
   days on market $150,000 Active 177 DOM
3. 2026-06-02
   days on market $150,000 Active 176 DOM
4. 2026-06-01
   days on market $150,000 Active 175 DOM
5. 2026-05-31
   days on market $150,000 Active 174 DOM
6. 2026-05-30
   days on market $150,000 Active 173 DOM
7. 2026-01-20
   price $150,000
8. 2025-12-05
   listed $180,000 Active

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

Taxation est. · year 1

• Rental income: $16,086
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$4,364
• Taxable loss: −$2,254
• Est. tax savings @ 24.0%: +$541
• After-tax cash flow: $809/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: Tahlequah
• NCES district ID: 4029380
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $32,990
• Composite: 21.28/100
• National rank: #8393
• State rank: #109 of 270 in OK

Livability — Tahlequah

• Score: 66/100
• State rank: #124
• US rank: #12171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tahlequah, OK
• County: Cherokee County · 31,116 people
• City population: 31,116
• Metro: Tahlequah, OK
• Population (ZIP): 31,116
• Household income: $51,262
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1058.0

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 51,747 people
• By 2030: 53,481 · +3.4%
• By 2040: 56,503 · +9.2%
• By 2050: 59,370 · +14.7%
• By 2075: 67,178 · +29.8%
• By 2100: 70,900 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.82)
• Race & ethnicity: White 41% Native American 35% Two or more races 16% Hispanic / Latino 10% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 6%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+32.6) · D 32.7% · R 65.3% · Other 2.0%
• 2008→2024 swing: -20.4pp toward R · 2008: -12.2pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+29.3 2016: R+27.5 2012: R+14.1 2008: R+12.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -184.14%
• Current HPI: 226.4004
• Rent YoY: ▲ 9.23%
• Metro: Tahlequah, 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

-16.7% since first listed

2 events — show timeline

• 2026-01-20 Price Changed $150,000 MLS Technology, Inc.
• 2025-12-05 Listed $180,000 MLS Technology, Inc.