405 NW 2nd · Laverne, OK 73848

$75,000

2 bd · 2.0 ba · 1,446 sqft · SingleFamily · 421 Days on market

Built 1960 Est $104k · 28% under ↓ 21% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +8.8/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• Built 1960
• Listed 420 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story home; Facing north
• Construction: Stucco exterior
• Exterior features: Composition roof

Interior

• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (Natural Gas); Central air conditioning
• Interior features: Hardwood floors

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#108 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D, schools D-.
• Laverne (rural): math 45% / reading 39% proficiency, ranked #10 of 270 in OK (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($519 loan paydown + $6k appreciation (7.6% local appreciation)).
• Harper County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 421 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 421 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 1.41% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.06%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $104,112
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
523 NW 2nd	0.12mi	3/2.0 (+1)	1,432 (-1%)	14mo	$110,000	$77	76
718 Klinger St	0.35mi	3/1.0 (+1)	1,392 (-4%)	16mo	$89,500	$64	55
302 S Broadway	0.36mi	3/1.0 (+1)	1,258 (-13%)	12mo	$90,000	$72	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.5%
• Equity multiple: 3.35×
• Total profit: $49,269
• Equity at exit: $55,091

10-year hold

• IRR: 30.1%
• Equity multiple: 7.10×
• Total profit: $128,000
• Equity at exit: $107,603

Cash invested: $21,000 (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 73848

• Home prices YoY: 4.7%
• Active inventory: 5
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $316

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 65%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 421 DOM
2. 2026-06-17
   days on market $75,000 Active 420 DOM
3. 2026-06-16
   days on market $75,000 Active 419 DOM
4. 2026-06-15
   days on market $75,000 Active 418 DOM
5. 2026-06-13
   days on market $75,000 Active 416 DOM
6. 2026-06-12
   days on market $75,000 Active 415 DOM
7. 2026-06-09
   days on market $75,000 Active 412 DOM
8. 2026-06-08
   days on market $75,000 Active 411 DOM
9. 2026-06-08
   days on market $75,000 Active 410 DOM
10. 2026-06-05
    days on market $75,000 Active 408 DOM
11. 2026-06-04
    days on market $75,000 Active 406 DOM
12. 2026-06-02
    days on market $75,000 Active 405 DOM
13. 2026-06-01
    days on market $75,000 Active 404 DOM
14. 2026-05-31
    days on market $75,000 Active 403 DOM
15. 2026-04-17
    price $75,000
16. 2026-01-12
    price $85,000
17. 2025-04-24
    price $95,000
18. 2025-04-23
    listed $90,000 Active
19. 2025-02-20
    price $95,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,674
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,014
• − Management: −$1,014
• − Depreciation: −$2,182
• Taxable income: $2,764
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $3,130/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.

Schools (NCES district)

• District: Laverne
• NCES district ID: 4017220
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $47,426
• Composite: 35.94/100
• National rank: #4801
• State rank: #10 of 270 in OK

Livability — Laverne

• Score: 66/100
• State rank: #108
• US rank: #11536

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D Housing A+ Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laverne, OK
• Population (ZIP): 1,609

Population outlook (Harper County) Hauer SSP2

• Today (2025): 4,023 people
• By 2030: 4,159 · +3.4%
• By 2040: 4,566 · +13.5%
• By 2050: 5,146 · +27.9%
• By 2075: 7,497 · +86.4%
• By 2100: 10,727 · +166.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 30% Two or more races 5%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 4% Lithuanian 2% Subsaharan African 1%
• Foreign-born: 23% · Canada
• Languages at home: 68% English-only · Spanish 29% German/W. Germanic 2%

Political lean MEDSL · Harper

• 2024 margin: Solid R (+78.4) · D 10.1% · R 88.5% · Other 1.4%
• 2008→2024 swing: -6.6pp toward R · 2008: -71.7pp · 2024: -78.4pp
• All cycles: 2024: R+78.4 2020: R+80.1 2016: R+79.2 2012: R+75.9 2008: R+71.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.63%
• Current HPI: 170.0605
• Rent YoY: —
• Metro: —
• 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

-21.1% since first listed

5 events — show timeline

• 2026-04-17 Price Changed $75,000 NWOAR
• 2026-01-12 Price Changed $85,000 NWOAR
• 2025-04-24 Price Changed $95,000 NWOAR
• 2025-04-23 Listed $90,000 NWOAR
• 2025-02-20 Price Changed $95,000 NWOAR