404 N Park St · El Reno, OK 73036

$172,900

3 bd · 1.0 ba · 1,369 sqft · SingleFamily public records · 93 Days on market

Built 1928 0.35 ac lot Est $197k · 12% 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).

• Cash flow +16.8/30.0
• ARV discount +13.0/15.0
• DSCR +5.2/10.0
• 1% rule +3.6/10.0
• 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

Welcome to 404 N Park Street! Located right off Sunset Drive! This three bedroom home offers a full bathroom with double sinks! Rooms are nicely sized with original hardwood floors. The kitchen offers new counter tops, new dishwasher and freshly painted cabinets.

Key facts

• Large windows
• New stucco
• Fully fenced lot

Tags

• FULLY FENCED LOT
• NEW STUCCO
• NEW ROOF
• ORIGINAL HARDWOOD FLOORS
• GENEROUSLY SIZED DINING ROOM
• LARGE WINDOWS

Property features AI

Finance

• Financial info: Loan qualification possible; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Utilities: Cable available; Electricity available; High‑speed internet available; Public utilities
• Home design: Single family residence; One level; Faces west; Residential property
• Construction: Masonry veneer and stone exterior; Composition roof (2024); Conventional foundation; Existing construction
• Exterior features: Covered patio; Wood fencing; Corner lot; Interior lot

Interior

• Kitchen: Free‑standing electric range/oven; Dishwasher
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Ceiling fan(s)
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $173k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/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 $148k (14.2% below list).
• Recommended offer: $148k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Rose Witcher Es (387 students, 0% FRL); Etta Dale Jhs (math 7% / reading 13%, grade F, #277 of 345 statewide, top 83%, 444 students, 0% FRL); 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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $1k of loan paydown is wiped out by about $5k 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 93 days — a 9% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $105k; list at $173k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $148,306 (14.2% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $197,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2452 Stone Glen Dr	0.23mi	3/2.0	1,392 (+2%)	6mo	$193,000	$139	77
608 N Reformatory Rd	0.53mi	3/2.0	1,442 (+5%)	6mo	$220,000	$153	58
2605 Stone Glen Dr	0.40mi	3/2.0	1,425 (+4%)	19mo	$179,000	$126	55
2408 Townsend Dr	0.10mi	3/1.0	1,191 (-13%)	24mo	$159,900	$134	54
2561 Kadlan Dr	0.42mi	3/2.0	1,506 (+10%)	9mo	$255,000	$169	52
2605 Kadlan Dr	0.49mi	3/2.0	1,543 (+13%)	3mo	$255,000	$165	49
2604 Kadlan Dr	0.46mi	3/2.0	1,507 (+10%)	11mo	$237,000	$157	49
2452 Townsend Dr	0.42mi	3/2.0	1,260 (-8%)	23mo	$168,000	$133	44
2613 Kadlan Dr	0.51mi	3/2.0	1,464 (+7%)	21mo	$235,000	$161	43
2456 Townsend Dr	0.45mi	3/1.0	1,554 (+14%)	18mo	$155,000	$100	41
1501 W Watts St	0.74mi	3/1.5	1,175 (-14%)	4mo	$169,000	$144	37
504 Lynn Dr	0.72mi	3/1.5	1,539 (+12%)	15mo	$165,000	$107	31

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: -10.8%
• Equity multiple: 0.60×
• Total profit: $-19,261
• Equity at exit: $25,780

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-423
• Equity at exit: $14,949

Cash invested: $48,412 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$907
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $110

Break-even live

Break-even rent $1,344

Max offer price $172,900

Occupancy floor 88%

Sensitivity live

Price	-10% $208	-5% $159	+0% $110	+5% $61	+10% $12
Rent	-10% $-7	-5% $52	+0% $110	+5% $169	+10% $227
Rate	-1.0pp $197	-0.5pp $154	base $110	+0.5pp $65	+1.0pp $20

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: $43,225
• Closing costs: $5,187
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 W Clarke St El Reno, OK	3.0	2.0	1768	$1,395	$0.79	3d	1	1.21mi
1841 Jack Rabbit Ln El Reno, OK	3.0	2.0	1229	$1,425	$1.16	16d	1	1.28mi
1636 Eighty Niner Ter El Reno, OK	3.0	2.0	1707	$1,599	$0.94	3d	1	1.30mi
2408 Rosewood Ln El Reno, OK	4.0	2.5	1674	$1,795	$1.07	25d	1	1.34mi
607 N Evans Ave El Reno, OK	2.0	1.0	1032	$1,025	$0.99	3d	1	1.40mi
1617 Amaranth Ln El Reno, OK	3.0	2.0	1152	$1,455	$1.26	3d	1	1.41mi
1541 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	3d	1	1.50mi
1541 Pavy Pkwy El Reno, OK	3.0	2.0	1200	$1,295	$1.08	6d	1	1.50mi

Listing history 25 events

1. 2026-06-21
   days on market $172,900 Active 93 DOM
2. 2026-06-18
   days on market $172,900 Active 90 DOM
3. 2026-06-17
   days on market $172,900 Active 89 DOM
4. 2026-06-16
   days on market $172,900 Active 88 DOM
5. 2026-06-15
   days on market $172,900 Active 87 DOM
6. 2026-06-13
   days on market $172,900 Active 85 DOM
7. 2026-06-13
   days on market $172,900 Active 84 DOM
8. 2026-06-09
   days on market $172,900 Active 81 DOM
9. 2026-06-08
   days on market $172,900 Active 80 DOM
10. 2026-06-07
    days on market $172,900 Active 79 DOM
11. 2026-06-05
    days on market $172,900 Active 76 DOM
12. 2026-06-03
    days on market $172,900 Active 75 DOM
13. 2026-06-02
    days on market $172,900 Active 74 DOM
14. 2026-06-01
    days on market $172,900 Active 73 DOM
15. 2026-05-31
    days on market $172,900 Active 72 DOM
16. 2026-03-21
    listed $172,900 Active
17. 2026-02-19
    historical
18. 2025-08-19
    listed $174,900 Active
19. 2021-11-02
    soldstatus $105,000
20. 2021-10-29
    soldstatus $105,000 Sold 263-char remark

    Show marketing remark (263 chars)

    Welcome to 404 N Park Street! Located right off Sunset Drive! This three bedroom home offers a full bathroom with double sinks! Rooms are nicely sized with original hardwood floors. The kitchen offers new counter tops, new dishwasher and freshly painted cabinets.

21. 2021-09-18
    historical 263-char remark

    Show marketing remark (263 chars)

    Welcome to 404 N Park Street! Located right off Sunset Drive! This three bedroom home offers a full bathroom with double sinks! Rooms are nicely sized with original hardwood floors. The kitchen offers new counter tops, new dishwasher and freshly painted cabinets.

22. 2021-09-18
    listed $112,900 263-char remark

    Show marketing remark (263 chars)

    Welcome to 404 N Park Street! Located right off Sunset Drive! This three bedroom home offers a full bathroom with double sinks! Rooms are nicely sized with original hardwood floors. The kitchen offers new counter tops, new dishwasher and freshly painted cabinets.

23. 2014-01-06
    soldstatus $75,000
24. 2001-06-19
    soldstatus $64,000
25. 2000-12-04
    soldstatus $53,000

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$564/yr (+$47/mo · 56.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $17,797
• − Mortgage interest: −$9,685
• − Property taxes: −$992
• − Insurance: −$864
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$5,030
• Taxable loss: −$1,622
• Est. tax savings @ 24.0%: +$389
• After-tax cash flow: $1,712/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

+226.2% since first listed

10 events — show timeline

• 2026-03-21 Listed $172,900 MLSOK
• 2026-02-19 Listing Removed — MLSOK
• 2025-08-19 Listed $174,900 MLSOK
• 2021-11-02 Sold (Public Records) $105,000 Public Records
• 2021-10-29 Sold (MLS) $105,000 MLSOK
• 2021-09-18 Listing Removed — MLSOK
• 2021-09-18 Listed $112,900 MLSOK
• 2014-01-06 Sold (Public Records) $75,000 Public Records
• 2001-06-19 Sold (Public Records) $64,000 Public Records
• 2000-12-04 Sold (Public Records) $53,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $992 · +6.1% YoY. Source: county tax records.