Real Estate Investing in Castle, Oklahoma (74833)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 74833 (Castle, 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: 15.9% 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 Castle, OK (74833)?
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Market Analysis: 74833 Castle
The 74833 ZIP covers a section of Castle that demands careful diligence. Prices near $196K look accessible, but the work to make a deal cash flow is real.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 74833 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within OK, ZIP 74833 trails on several market indicators that neighboring Okfuskee County submarkets outperform. The gap is real and solid enough to shape underwriting.
The 74833 ZIP's population of 539 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that sits at the need for careful underwriting.
Distressed ZIPs reward experience. significant returns are possible in 74833, 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 Castle:
Market Trends
Home Value History (with trend line)
📊 How Does 74833 Compare?
| Metric | 74833 | Castle | Oklahoma |
|---|---|---|---|
| Home Value | $196,415 | $196,415 | $214,563 |
| 5-Year CAGR | 7.6% | 7.6% | 6.9% |
| Avg Rent | $855 | $855 | - |
| Cap Rate | 3.4% | 3.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 74833 (Castle, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $196,415 |
| Monthly Rent | $855 |
| Price-to-Rent | 19.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +16.0% ▲ |
| 3-Year CAGR | +6.8% ▲ |
| 5-Year CAGR | +7.6% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 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 (3.4%). 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 74833
Population: 539
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 do landlords charge for rent in Castle, OK?
Rent in Castle, OK is around $855/mo. The resulting rent-to-value relationship with $196K pricing is reasonable for most investor models.
What is the best play in Castle, OK?
For Castle, OK, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is Castle, OK good for house hacking?
The house hack math a challenging in Castle, OK. Owner-occupant buyers benefit from the $855/mo rents and $196K home values.
How do landlord-tenant laws work in Castle, OK?
OK ranks as a landlord-friendly state for landlord-tenant law. Castle generally follows the statewide framework, so landlords face reasonable operating rules.
How expensive is real estate in Castle, OK?
The median home value in Castle, OK is roughly $196K. That puts it reasonable relative to the OK statewide average.
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