Real Estate Investing in Chester, Oklahoma (73838)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73838 (Chester, OK)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.3% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Chester, OK (73838)?
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Market Analysis: 73838 Chester
The 73838 ZIP covers a section of Chester that demands careful diligence. Prices near $269K look accessible, but the work to make a deal cash flow is real.
Looking more closely, the numbers look inviting — $269K purchase price, 0.0% nominal cap — the work to hit that pro forma in 73838 is substantial and deserves full respect.
Nearby ZIPs in Chester have seen price recovery that 73838 has not matched. Major County data supports the view that the spread is structural rather than temporary.
Employment concentration in 73838 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. impressive returns are possible in 73838, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Chester:
Market Trends
Home Value History (with trend line)
📊 How Does 73838 Compare?
| Metric | 73838 | Chester | Oklahoma |
|---|---|---|---|
| Home Value | $268,767 | $268,767 | $214,563 |
| 5-Year CAGR | 6.4% | 6.4% | 6.9% |
| Avg Rent | $1,035 | $1,035 | - |
| Cap Rate | 3.0% | 3.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 73838 (Chester, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $268,767 |
| Monthly Rent | $1,035 |
| Price-to-Rent | 21.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +10.3% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +6.4% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 73838
Population: 634
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
Frequently Asked Questions
What is the typical vacancy rate in Chester, OK?
Chester, OK vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How strict are landlord regulations in Chester, OK?
Chester, OK operates under OK law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
Is Chester, OK a smart market for rental property?
The 3.0/5 investability rating in Chester, OK reflects its $269K prices and $1,035/mo rents. Investors generally consider it a solid option within OK.
What does house hacking look like in Chester, OK?
For house hackers, Chester, OK is a challenging. The $1,035/mo rent on a unit helps defray the mortgage on a $269K property.
Which real estate strategy fits Chester, OK?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Chester, OK. The numbers - $269K homes against $1,035/mo rents - support that play.
You know 73838 now. You don’t know where it ranks.
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