602 W Elm St · El Reno, OK 73036

$139,900

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 102 Days on market

Built 1948 5,475 sqft lot Est $176k · 21% under

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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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +5.2/10.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

Key facts

• Cape cod style home
• Sidewalk access
• Covered front entry

Tags

• CAPE COD STYLE HOME
• COVERED FRONT ENTRY
• FULLY FENCED FRONT YARD
• MATURE TREES
• SIDEWALK ACCESS
• NEAR LOCAL SCHOOLS

Property features AI

Finance

• Other: Vacant and ready for occupancy; Corner lot in Bensons Sub
• Financial info: Sold As-Is; financing options include Cash, Conventional, FHA or VA; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage; Backyard parking
• Security: (No security features provided)
• Utilities: (No utility provider details provided)
• Home design: Single-family residence; Two levels; Property faces south; Residential property
• Construction: Brick veneer exterior; Composition roof (roof updated 2024); Conventional foundation; Existing property
• Exterior features: Covered patio; Covered porch; Chain link fencing; Corner lot

Interior

• Kitchen: Free-standing gas range
• Bedrooms: 3 bedrooms
• Flooring: (No flooring details provided)
• Bathrooms: 2 full bathrooms
• Heating & cooling: (No heating or cooling details provided)
• Interior features: No fireplace; No in-law plan noted
• Laundry & utility: (No laundry details provided)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.8% in El Reno — 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 67/100 on livability (#95 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.
• El Reno (town): math 12% / reading 15% proficiency, ranked #232 of 270 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: El Reno Hs (math 16% / reading 19%, grade F, #307 of 447 statewide, top 69%, 980 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.2%/yr); 281 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $13k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $140k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.02% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $176,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1317 S Miles Ave	0.37mi	3/2.0	1,334 (+6%)	0mo	$177,000	$133	73
520 S Reno Ave	0.51mi	4/2.0 (+1)	1,256 (-0%)	1mo	$176,000	$140	70
718 S Choctaw Ave	0.37mi	3/2.0	1,360 (+8%)	3mo	$181,000	$133	67
709 S Hadden St	0.31mi	2/1.0 (-1)	1,297 (+3%)	5mo	$100,000	$77	67
1012 S Ellison Ave	0.14mi	2/1.0 (-1)	1,090 (-14%)	2mo	$114,000	$105	60
1502 S Miles Ave	0.58mi	3/1.5	1,180 (-6%)	2mo	$190,000	$161	59
1305 S Reno Ave	0.38mi	3/1.0	1,136 (-10%)	5mo	$165,000	$145	57
518 S Ellison Ave	0.46mi	3/2.0	1,442 (+14%)	1mo	$207,800	$144	54
300 Cherokee Ln	0.63mi	3/2.0	1,176 (-7%)	7mo	$175,000	$149	54
605 S Reno Ave	0.43mi	2/1.0 (-1)	1,093 (-13%)	1mo	$149,900	$137	48
624 Skyline Dr	0.64mi	3/1.5	1,388 (+10%)	5mo	$162,500	$117	47
1220 W Warren St	0.64mi	3/1.0	1,107 (-12%)	2mo	$157,000	$142	44

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 · 4.19% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-4,345
• Equity at exit: $20,860

10-year hold

• IRR: 7.9%
• Equity multiple: 1.63×
• Total profit: $24,714
• Equity at exit: $12,096

Cash invested: $39,172 (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 73036

• Home prices YoY: -3.3%
• Rents YoY: 4.2%
• Active inventory: 281
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,421 high
• Mortgage (P&I): −$734
• Tax from tax record: −$70 /mo · $835/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $261

Break-even live

Break-even rent $1,091

Max offer price $139,900

Occupancy floor 77%

Sensitivity live

Price	-10% $341	-5% $301	+0% $261	+5% $222	+10% $182
Rent	-10% $149	-5% $205	+0% $261	+5% $318	+10% $374
Rate	-1.0pp $332	-0.5pp $297	base $261	+0.5pp $225	+1.0pp $188

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
819 S Wilson Ave Unit 819 El Reno, OK	3.0	2.0	1200	$1,325	$1.10	3d	1	0.08mi
819 S Wilson Ave El Reno, OK	3.0	2.0	1200	$1,325	$1.10	5d	1	0.09mi
1031 S Ellison Ave El Reno, OK	3.0	2.0	1601	$1,500	$0.94	3d	1	0.17mi
1109 S Ellison Ave El Reno, OK	2.0	2.0	1595	$1,360	$0.85	3d	1	0.24mi
1915 S Jensen Ave El Reno, OK	3.0	1.5	1402	$1,400	$1.00	3d	1	0.63mi
702 Amity Ln El Reno, OK	2.0	2.0	1487	$1,550	$1.04	3d	1	0.76mi
1543 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	3d	1	0.88mi
1541 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	5d	1	0.93mi
1541 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	3d	1	0.93mi
2401 Fedderson Dr El Reno, OK	4.0	2.0	1546	$1,650	$1.07	3d	1	0.93mi
814 SW 25th St El Reno, OK	3.0	2.0	1411	$1,375	$0.97	20d	1	0.99mi
605 W Clarke St El Reno, OK	3.0	2.0	1768	$1,395	$0.79	3d	1	1.00mi
607 N Evans Ave El Reno, OK	2.0	1.0	1032	$1,025	$0.99	3d	1	1.04mi
1320 E Cavanaugh St El Reno, OK	3.0	2.0	1222	$1,400	$1.15	11d	1	1.15mi
1841 Jack Rabbit Ln El Reno, OK	3.0	2.0	1229	$1,425	$1.16	15d	1	1.28mi
1636 Eighty Niner Ter El Reno, OK	3.0	2.0	1707	$1,599	$0.94	3d	1	1.37mi

Listing history 21 events

1. 2026-04-28
   status Pending
2. 2026-04-21
   price $139,900
3. 2026-03-23
   price $144,900
4. 2026-02-18
   price $149,900
5. 2026-01-15
   listed $153,000 Active
6. 2025-12-11
   historical
7. 2025-10-20
   price $154,900
8. 2025-09-02
   listed $159,900 Active
9. 2024-01-24
   historical $1,050
10. 2024-01-04
    listed $1,050
11. 2021-11-22
    soldstatus $60,000
12. 2021-11-19
    soldstatus $60,000 Sold 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

13. 2021-11-15
    status Pending 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

14. 2021-11-12
    price $60,000 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

15. 2021-11-12
    status Active 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

16. 2021-10-12
    status Pending 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

17. 2021-09-30
    price $79,000 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

18. 2021-09-16
    price $84,000 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

19. 2021-09-02
    status Active 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

20. 2021-08-22
    status Pending 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

21. 2021-08-17
    listed $87,000 Active 301-char remark

    Show marketing remark (301 chars)

    INVESTOR PROPERTY! This house is so cute! It is on a corner lot with 2 parking/drive ways. Large laundry room upstairs that also has a full bathroom in it. Central heat works, but has window units for AC. Close to grocery store, convenience store and park. Selling in "As-Is" condition.

ⓘ 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: $835 · $70/mo
• Projected year-2 tax: $1,259 · $105/mo
• Expected delta: +$424/yr (+$35/mo · 50.8%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $17,056
• − Mortgage interest: −$7,837
• − Property taxes: −$835
• − Insurance: −$700
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$4,070
• Taxable income: $887
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,924/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: El Reno
• NCES district ID: 4010650
• Math proficiency: 12% ▼ -15.00%
• Reading proficiency: 15% ▼ -9.00%
• Median HH income: $44,689
• Composite: 12.01/100
• National rank: #9664
• State rank: #232 of 270 in OK

Livability — El Reno

• Score: 67/100
• State rank: #95
• US rank: #10933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: El Reno, OK
• County: Canadian County · 154,341 people
• City population: 21,387
• Metro: Oklahoma City, OK
• Population (ZIP): 21,387
• Household income: $59,915
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 580.0

Population outlook (Canadian County) Hauer SSP2

• Today (2025): 174,062 people
• By 2030: 195,170 · +12.1%
• By 2040: 239,293 · +37.5%
• By 2050: 285,457 · +64.0%
• By 2075: 403,766 · +132.0%
• By 2100: 498,766 · +186.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 17% Two or more races 8% Native American 8% Black 6%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 2% Serbian 2% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Canadian

• 2024 margin: Solid R (+40.4) · D 28.8% · R 69.2% · Other 2.0%
• 2008→2024 swing: +11.9pp toward D · 2008: -52.2pp · 2024: -40.4pp
• All cycles: 2024: R+40.4 2020: R+43.3 2016: R+51.2 2012: R+54.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.37%
• Current HPI: 334.5896
• Rent YoY: ▲ 4.19%
• Metro: Oklahoma City, 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

+60.8% since first listed

21 events — show timeline

• 2026-04-28 Pending — MLSOK
• 2026-04-21 Price Changed $139,900 MLSOK
• 2026-03-23 Price Changed $144,900 MLSOK
• 2026-02-18 Price Changed $149,900 MLSOK
• 2026-01-15 Listed $153,000 MLSOK
• 2025-12-11 Listing Removed — MLSOK
• 2025-10-20 Price Changed $154,900 MLSOK
• 2025-09-02 Listed $159,900 MLSOK
• 2024-01-24 Rental Removed $1,050 MLSOK
• 2024-01-04 Listed for Rent $1,050 MLSOK
• 2021-11-22 Sold (Public Records) $60,000 Public Records
• 2021-11-19 Sold (MLS) $60,000 MLSOK
• 2021-11-15 Pending — MLSOK
• 2021-11-12 Price Changed $60,000 MLSOK
• 2021-11-12 Relisted — MLSOK
• 2021-10-12 Pending — MLSOK
• 2021-09-30 Price Changed $79,000 MLSOK
• 2021-09-16 Price Changed $84,000 MLSOK
• 2021-09-02 Relisted — MLSOK
• 2021-08-22 Pending — MLSOK
• 2021-08-17 Listed $87,000 MLSOK

Property tax history

+7.6%/yr

Latest (2025): $835 · +6.0% YoY. Source: county tax records.