600 E Foreman Dr · El Reno, OK 73036

$35,000

2 bd · 1.0 ba · 1,104 sqft · SingleFamily · 13 Days on market

Built 1920 Poor condition 6,251 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.4/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Strong value-add opportunity in rural El Reno for investors looking for a full renovation or redevelopment play. This property is in unfinished condition and priced as a project, offering significant upside for a fix-and-hold, flip, or custom rebuild strategy. Key foundational updates have already been completed, including updated electrical with a new panel, a newer roof, and most windows already replaced, reducing upfront structural exposure. The property still requires a full interior and exterior renovation to completion, making it ideal for experienced investors or contractors looking to capture equity through a full reposition. With major systems partially addressed, this is a solid e

Key facts

• Updated electrical
• Newer roof
• Full renovation

Tags

• FULL RENOVATION
• UPDATED ELECTRICAL
• NEW PANEL
• NEWER ROOF
• MOST WINDOWS REPLACED
• FULL INTERIOR RENOVATION

Property features AI

Finance

• Other: Property located in Douglas Heights addition
• Financial info: Not assumable; Qualifies for loan
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One level; Residential property; Existing property
• Construction: Frame construction; Composition roof; Slab foundation
• Exterior features: Covered porch; Corner lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 30.1% 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); 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); 280 active listings in the ZIP; 7 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 $242 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 4.2% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 3.38% ✓
• Cap rate: 30.08%
• Cash-on-cash: 84.97%
• DSCR: 4.78
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $130,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 W Foreman St	0.32mi	3/1.0 (+1)	1,032 (-6%)	2mo	$45,000	$44	67
120 N Donald Ave	0.33mi	2/1.5	1,176 (+6%)	7mo	$125,000	$106	66
221 N L Ave	0.37mi	2/1.0	1,000 (-9%)	1mo	$114,000	$114	66
100 N L Ave	0.46mi	3/2.0 (+1)	1,118 (+1%)	4mo	$152,000	$136	64
121 N M Ave	0.47mi	3/2.0 (+1)	1,118 (+1%)	5mo	$180,000	$161	63
314 S Roberts Ave	0.42mi	3/1.0 (+1)	1,028 (-7%)	2mo	$141,000	$137	62
818 E Watts St	0.54mi	2/1.0	1,024 (-7%)	1mo	$125,000	$122	62
1008 E Woodson St	0.37mi	3/1.0 (+1)	999 (-10%)	1mo	$75,500	$76	61
118 S M Ave	0.53mi	2/1.0	1,204 (+9%)	1mo	$36,000	$30	59
324 Hal Dr	0.56mi	2/1.0	1,000 (-9%)	6mo	$118,000	$118	53
111 N Admire Ave	0.55mi	2/1.0	1,218 (+10%)	6mo	$139,000	$114	52
605 W Cheyenne St	0.65mi	3/2.0 (+1)	1,200 (+9%)	4mo	$160,000	$133	43

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: 86.7%
• Equity multiple: 5.08×
• Total profit: $39,976
• Equity at exit: $5,219

10-year hold

• IRR: 90.1%
• Equity multiple: 10.98×
• Total profit: $97,823
• Equity at exit: $3,026

Cash invested: $9,800 (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: 280
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,185 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $694

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 36%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 N Evans Ave El Reno, OK	2.0	1.0	1032	$1,025	$0.99	2d	1	0.47mi
1020 W Hayes St El Reno, OK	2.0	2.0	865	$1,250	$1.45	2d	1	0.93mi
1320 E Cavanaugh St El Reno, OK	3.0	2.0	1222	$1,400	$1.15	10d	1	0.96mi
1100 W Wade St Unit 218 El Reno, OK	1.0	1.0	800	$800	$1.00	14d	1	1.04mi
819 S Wilson Ave El Reno, OK	3.0	2.0	1200	$1,325	$1.10	4d	1	1.05mi
819 S Wilson Ave Unit 819 El Reno, OK	3.0	2.0	1200	$1,325	$1.10	2d	1	1.06mi
1518 W London St Apt 3 El Reno, OK	2.0	1.0	750	$795	$1.06	24d	1	1.42mi

Listing history 11 events

1. 2026-06-18
   status $35,000 Pending 13 DOM
2. 2026-06-18
   days on market $35,000 Active 13 DOM
3. 2026-06-17
   days on market $35,000 Active 12 DOM
4. 2026-06-16
   days on market $35,000 Active 11 DOM
5. 2026-06-15
   days on market $35,000 Active 10 DOM
6. 2026-06-13
   days on market $35,000 Active 8 DOM
7. 2026-06-13
   days on market $35,000 Active 7 DOM
8. 2026-06-09
   days on market $35,000 Active 4 DOM
9. 2026-06-08
   days on market $35,000 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $35,000 Active 2 DOM

ⓘ 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: $14,214
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$1,018
• Taxable income: $8,261
• Est. tax owed @ 24.0%: −$1,983
• After-tax cash flow: $6,344/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and renovations to bring it up to a livable condition. A full renovation is necessary to improve the home's appearance and increase its value for both resale and rental.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding is peeling and in need of repainting or replacement.
• Major flooring — The flooring in the interior appears to be unfinished and in need of repair or replacement.
• Major interior walls/paint — The interior walls and ceilings show signs of wear and tear, with peeling paint and potential structural issues.
• Major HVAC system — The HVAC system appears to be in poor condition, with visible damage and potential issues.

Value-add opportunities

• Both roof replacement — A new roof will significantly improve the home's appearance and increase its value for both resale and rental.
• Both exterior siding repair/replacement — A new exterior siding will improve the home's curb appeal and increase its value for both resale and rental.
• Both flooring replacement — A new flooring system will improve the home's appearance and increase its value for both resale and rental.
• Both interior wall and ceiling repair/painting — Repairing and repainting the interior walls and ceilings will improve the home's appearance and increase its value for both resale and rental.
• Both HVAC system repair/upgrade — Repairing or upgrading the HVAC system will improve the home's comfort and energy efficiency, increasing its value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in need of repainting or replacement.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be unfinished and in need of repair or replacement.	Major	$15,000–50,000
interior walls/paint · The interior walls and ceilings show signs of wear and tear, with peeling paint and potential structural issues.	Major	$15,000–50,000
HVAC system · The HVAC system appears to be in poor condition, with visible damage and potential issues.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both roof replacement — A new roof will significantly improve the home's appearance and increase its value for both resale and rental. ↑
• Both exterior siding repair/replacement — A new exterior siding will improve the home's curb appeal and increase its value for both resale and rental. ↑
• Both flooring replacement — A new flooring system will improve the home's appearance and increase its value for both resale and rental. ↑
• Both interior wall and ceiling repair/painting — Repairing and repainting the interior walls and ceilings will improve the home's appearance and increase its value for both resale and rental. ↑
• Both HVAC system repair/upgrade — Repairing or upgrading the HVAC system will improve the home's comfort and energy efficiency, increasing its value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-06-05 Listed $35,000 MLSOK