Real Estate Investing in Cherokee, Oklahoma (73728)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73728 (Cherokee, OK)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 26.2% of homes vacant — above national norms.
- Declining values: -1.8% 5-year CAGR — values have moved lower.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cherokee, OK (73728)?
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Market Analysis: 73728 Cherokee
Investors scanning Cherokee, OK for forced-equity plays often land on the 73728 ZIP. A a viable market for entry near $79K pairs with rents of $918/mo to widen the renovation window.
Investors in 73728 do not buy the market average — they buy the unit they can improve. $79K median pricing and $918/mo comps define the envelope within which the work has to pay.
Across Cherokee, pockets like 73728 represent the last affordable rungs of a rising ladder. The state-level data shows those rungs thinning.
Residents in 73728 skew younger than the county average, and that matters for rehab positioning. Younger renters respond to finishes, appliances, and in-unit laundry in ways that move rent.
ZIP 73728 fits investors who can swing a hammer — or pay someone to swing one well. BRRRR, fix-and-flip, and fix-and-hold all work when the rehab scope is matched to the rent lift.
Here's what matters if you're considering buying a home in Cherokee:
Property Strategy for 73728
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $39,403 | $1,020 | 18.6% | -5.1% | $19,702 |
| 3BR | $90,316 | $1,420 | 11.3% | +2.5% | $30,105 |
| 4BR | $202,753 | $1,710 | 6.1% | +4.3% | $50,688 |
Market Trends
Home Value History (with trend line)
📊 How Does 73728 Compare?
| Metric | 73728 | Cherokee | Oklahoma |
|---|---|---|---|
| Home Value | $79,052 | $79,052 | $214,563 |
| 5-Year CAGR | N/A | N/A | 6.9% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 9.1% | 9.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 73728 (Cherokee, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $79,052 |
| Monthly Rent | $918 |
| Price-to-Rent | 7.2:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 13.9% |
| Cap Rate | 9.1% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | -2.4% ▼ |
| 5-Year CAGR | -1.8% ▼ |
| 10-Year CAGR | +2.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (9.1%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 73728
Population: 1,708
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 73728
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are homes affordable in Cherokee, OK?
Cherokee, OK median home values land near $79K. That is reasonable territory for investors looking at $918/mo-per-month rentals.
Is BRRRR a fit for Cherokee, OK?
Cherokee, OK is a strong for BRRRR. Acquiring below market, rehabbing, and leasing at $918/mo produces solid refinance appraisals against $79K values.
Does house hacking work in Cherokee, OK?
House hacking works an attractive in Cherokee, OK. Rents of $918/mo against $79K acquisition make the strategy solid for owner-occupants.
What is the average monthly rent in Cherokee, OK?
Rent in Cherokee, OK is around $918/mo. The resulting rent-to-value relationship with $79K pricing is reasonable for most investor models.
What approach is best for Cherokee, OK real estate?
Investors who focus on value-add and BRRRR deals typically do well in Cherokee, OK. The numbers - $79K homes against $918/mo rents - support that play.
You know 73728 now. You don’t know where it ranks.
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