Mayes (OK) Investor Pulse Report (2025-Q4)

Landlords in Mayes County, Oklahoma, collectively own 2,336 Single-Family Residential (SFR) properties, accounting for 22.7% of the total 10,279 SFR market. This signifies a substantial investor presence within the county's housing landscape.

Individual investors overwhelmingly dominate the market, controlling 1,864 SFR properties, which represents 79.8% of all landlord-owned housing. In contrast, company-owned properties number 504, making up 21.6% of the portfolio, highlighting the prevalence of smaller, individual landlords.

The investor market is primarily composed of individual landlords, with 2,571 distinct individual entities compared to 346 company entities. This results in an entity ratio of 7.4 individuals for every company landlord, underscoring the fragmented, small-scale nature of ownership.

An impressive 97.6% (2,279) of investor-owned SFR properties are rented, confirming that nearly all landlord holdings are actively contributing to the rental housing supply. This focus on non-owner-occupied status aligns directly with the core definition of an investor.

The mode of acquisition for investor properties leans heavily towards cash purchases, with 1,704 properties (72.9%) acquired without financing. Only 632 properties (27.0%) are financed, suggesting a preference for debt-free or low-leverage investments among Mayes County landlords.

In Q4 2025, landlords in Mayes County paid an average acquisition price of $226,155, which was a 10.1% premium, or $20,694 more, compared to traditional homeowners who paid $205,461. This marks a notable shift where investors are paying more than owner-occupants in the current quarter.

The price gap between landlords and homeowners has exhibited extreme volatility throughout 2025. After securing a substantial 24.9% discount ($53,214) in Q1, landlords shifted to paying premiums of 23.6% ($58,371) in Q2, an astonishing 45.2% ($102,760) in Q3, and a 10.1% ($20,694) premium in Q4.

Historical acquisition data for all landlords in Mayes County (from section6-1.csv) curiously shows 0 properties purchased across all of 2024 and 2025, as well as 2020-2023. This indicates a potential data anomaly in this specific dataset given other sections show purchase activity, and thus makes analysis of long-term landlord-specific acquisition price trends from this particular table challenging.

Despite the data anomaly in specific acquisition counts, the significant and fluctuating premiums paid by landlords in Q2-Q4 2025 (ranging from 10.1% to 45.2%) suggest a highly competitive market where investors are willing to pay above homeowner prices, potentially for specific property types or strategic advantages.

The sharp swing from a 24.9% discount in Q1 to consistent premiums in subsequent quarters reveals a rapid change in market dynamics. This shift from landlords paying less to significantly more than homeowners indicates either increasing investor demand or a changing profile of acquired properties.

In Q4 2025, landlords in Mayes County were significant players, purchasing 19 SFR properties out of a total of 88 sales, which represents a substantial 21.6% share of the quarterly market. This highlights continued investor interest and activity in the county.

Mom-and-pop landlords (Tiers 01-04), those owning 1 to 10 properties, were the overwhelming force in Q4 acquisitions, securing 16 properties which made up 80.0% of all landlord purchases. This underscores the fragmented, small-scale nature of investment activity.

The single-property landlord tier (Tier 01) leads Q4 purchases, with 13 properties acquired by 18 distinct entities. This suggests a healthy inflow of new or expanding small-scale investors entering the market, forming the backbone of current acquisition activity.

In stark contrast to mom-and-pop activity, institutional investors (Tier 09, 1000+ properties) made no purchases in Mayes County during Q4 2025. Their complete absence indicates that larger, corporate buyers are not currently active in this specific market.

Smaller mid-size landlords also showed activity, with Tiers 11-20, 51-100, and 101-1000 each contributing to Q4 purchases, collectively acquiring 4 properties. This diversified activity across several tiers, excluding institutional, reinforces the dominance of non-institutional buyers.

Mom-and-pop landlords, encompassing Tiers 01 through 04 (1-10 properties), collectively control an overwhelming 94.8% of all investor-owned SFR properties in Mayes County, totaling 2,290 properties. This demonstrates a market heavily reliant on smaller, individual investors rather than large corporations.

The single-property landlord tier (Tier 01) forms the vast majority of the market, owning 1,838 properties, which accounts for 76.1% of the total investor-owned portfolio. This highlights the significant role of first-time or single-property investors in the county's rental housing supply.

Institutional investors (Tier 09, 1000+ properties) have a near-nonexistent footprint in Mayes County, owning just 1 property, which rounds to 0.0% of the total investor-owned SFR. This starkly contrasts with narratives of institutional dominance in other markets, affirming Mayes County as a mom-and-pop stronghold.

Mid-size landlords (Tiers 05-08, 11-1000 properties) hold a minor share, with Tiers 11-20, 21-50, 51-100, and 101-1000 collectively accounting for 5.2% of the market. The largest of these, Tier 101-1000, owns 55 properties (2.3%), showcasing limited large-scale, non-institutional presence.

The acquisition prices by tier are not available in the provided summary data for this section, making it challenging to directly compare pricing strategies across different investor sizes for all-time, Q4, 2024, or 2020-2023. This limits the ability to discern if larger investors acquire properties at different price points over time.

Individual investors are the dominant force in the smaller landlord tiers in Mayes County. They control 86.9% of properties in Tier 01 (single-property landlords), 77.2% in Tier 02, and 70.7% in Tier 03-05, highlighting their foundational role in the market.

A clear crossover point occurs at the Small landlord (6-10 properties) tier, where companies become the majority owners. In Tier 06-10, company ownership surpasses individuals, holding 55.3% of properties compared to individual investors at 44.7%.

Beyond the crossover, company ownership dramatically increases its dominance in larger portfolios. In Tier 11-20, companies own a substantial 79.6% of properties, while individual investors hold only 20.4%, demonstrating their preference for scaling larger portfolios.

The overall market composition reveals that while individual landlords own the vast majority of properties across all tiers combined, companies strategically concentrate their holdings in the mid-size landlord segments (6-20 properties). This suggests differing investment strategies and operational capacities between individual and corporate entities.

For the largest institutional tier (1000+ properties), only 1 property is recorded in Mayes County, and its ownership type (individual or company) is not specified in the provided data. This makes it impossible to analyze the individual vs. company split at the highest tier of investment.

In Mayes County, the ZIP code OK-Mayes-74361 stands out with the highest volume of investor-owned properties, totaling 969 SFRs, representing a 20.1% investor ownership rate. This indicates a significant concentration of landlord holdings within this specific sub-geography.

While OK-Mayes-74361 leads in sheer count, OK-Mayes-74441 demonstrates the highest investor ownership *rate*, with a remarkable 100.0% of its properties being investor-owned. This signals a unique sub-market entirely comprised of rental units or non-owner-occupied properties.

The ZIP codes OK-Mayes-74352 and OK-Mayes-74301 show a dual concentration of investor activity. OK-Mayes-74352 holds 347 investor-owned properties at a 24.2% rate, and OK-Mayes-74301 has 267 properties with a high 39.6% ownership rate, positioning them as key investor hotspots.

The presence of OK-Mayes-74340 with a 61.5% investor ownership rate further highlights areas within Mayes County where a substantial majority of the housing stock is investor-controlled. This demonstrates localized markets with high landlord penetration.

A clear distinction emerges between regions with high property counts and those with high ownership rates; for instance, OK-Mayes-74361 has many investor properties but a moderate rate (20.1%), whereas OK-Mayes-74441 has a 100.0% rate, suggesting different investment strategies or market compositions driving these patterns.

Landlords in Mayes County are overwhelmingly net buyers, demonstrating a robust acquisition strategy with 27 properties purchased against only 3 sold in Q4 2025. This equates to an aggressive 9.0x buy/sell ratio, indicating strong market accumulation.

This aggressive buying trend is consistent throughout 2025, with landlords purchasing 120 properties while selling 31, resulting in a net gain of 89 properties year-to-date. In 2024, landlords purchased 201 properties against 27 sells, resulting in a net acquisition of 174 properties.

Institutional investors (1000+ properties) show a contrasting trend, operating as net sellers in 2024 by acquiring 1 property and divesting 2, resulting in a net reduction of 1 property. There is no institutional transaction data available for 2025.

The consistent net buying behavior of all landlords, particularly evident in the high Q4 buy/sell ratio, suggests a positive outlook and continued confidence in the Mayes County SFR market among most investors.

Information regarding the percentage of buy or sell transactions that occur between landlords, as well as average buy and sell prices for different timeframes, is not provided in the summary data for this section, limiting further analysis on inter-landlord trading and implied profit margins.

In Q4 2025, landlords played a significant role in Mayes County's real estate market, participating in 27 transactions, which represents 20.5% of the total 132 SFR transactions that quarter. This indicates a consistent presence in market activity.

Single-property landlords (Tier 01) were the most active segment, executing 18 transactions at an average purchase price of $232,836. This tier's high activity, representing 66.7% of all landlord transactions, signals robust engagement from new or small-scale investors.

The average purchase prices varied significantly across tiers, with Tier 01 paying the highest average of $232,836 and Tier 02 recording a remarkably low average of $30,000. This wide price spread of $202,836 suggests diverse property types, conditions, or acquisition strategies among different investor sizes.

Inter-landlord trading was minimal in Q4, with only 1 transaction (3.7% of landlord purchases) reported as being bought from another landlord by a Tier 03-05 investor. This low percentage suggests that most landlords are acquiring properties directly from traditional homeowners or other non-landlord sellers.

Mom-and-pop landlords (Tier 01-04) collectively accounted for 23 transactions, solidifying their dominance in market activity, while institutional investors (Tier 09) had no reported transactions in Q4, aligning with their negligible ownership presence.