408 E Iowa St · Walters, OK 73572

$165,000

3 bd · 1.0 ba · 1,552 sqft · SingleFamily public records

Built 1991

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Why this score? — see what drove the D 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 +10.9/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +2.1/10.0

Listing remarks

Featuring a brand new roof, updated electrical, a new hot water heater, fresh paint throughout, and a recently renovated bathroom. . Step outside to a spacious backyard designed for both relaxation and entertaining, complete with a deck and pergola & acirc; & euro; & rdquo; perfect for hosting gatherings or enjoying quiet evenings at home. The property also includes a storm shelter & acirc; & euro; & rdquo; a valuable feature for safety and security. Even better, the washer, dryer, refrigerator, and stove are all included with the purchase & acirc; & euro; & rdquo; making this home truly move-in ready! Conveniently located within walking distance to a pub

Key facts

• Built 1991

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-73 ($-879/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (29.1% below list).
• Recommended offer: $117k (29.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#165 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Walters (town): math 22% / reading 25% proficiency, ranked #122 of 270 in OK (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Walters Es (math 37% / reading 27%, grade F, #213 of 845 statewide, top 28%, 274 students, 0% FRL); Walters Ms (math 12% / reading 22%, grade F, #193 of 345 statewide, top 60%, 140 students, 0% FRL); Walters Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 196 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 19 active listings in the ZIP.

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.9% local appreciation)).
• Cotton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $140k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $116,993 (29.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.71% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.90%
• DSCR: 0.92
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $97,776
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
460 E Iowa St	0.11mi	3/1.0	1,500 (-3%)	18mo	$135,000	$90	75
230 W Colorado St	0.50mi	3/1.0	1,497 (-4%)	3mo	$45,000	$30	69
227 E California St	0.28mi	3/1.0	1,336 (-14%)	2mo	$65,000	$49	62
514 E Washington Ave	0.51mi	3/1.5	1,500 (-3%)	9mo	$89,500	$60	61
603 E California St	0.36mi	3/2.0	1,400 (-10%)	8mo	$133,600	$95	56
104 S Ross St	0.23mi	3/1.0	1,326 (-15%)	11mo	$53,000	$40	56
201 W Nebraska Ave	0.51mi	3/1.0	1,393 (-10%)	7mo	$88,000	$63	54
506 E Oklahoma St	0.19mi	3/2.0	1,773 (+14%)	11mo	$190,000	$107	54
227 E Ohio	0.69mi	3/1.5	1,400 (-10%)	4mo	$109,000	$78	46
312 E California	0.30mi	2/2.0 (-1)	1,389 (-10%)	21mo	$65,000	$47	42
606 E Indiana St	0.66mi	3/2.0	1,700 (+10%)	12mo	$170,000	$100	40

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

Projected returns pro-forma

5.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.90×
• Total profit: $41,591
• Equity at exit: $102,331

10-year hold

• IRR: 14.0%
• Equity multiple: 3.73×
• Total profit: $126,205
• Equity at exit: $184,381

Cash invested: $46,200 (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 73572

• Home prices YoY: 3.1%
• Active inventory: 19
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$64 /mo · $762/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-73

Break-even live

Break-even rent $1,263

Max offer price $152,054

Occupancy floor —

Sensitivity live

Price	-10% $20	-5% $-27	+0% $-73	+5% $-120	+10% $-167
Rent	-10% $-166	-5% $-119	+0% $-73	+5% $-27	+10% $19
Rate	-1.0pp $10	-0.5pp $-31	base $-73	+0.5pp $-116	+1.0pp $-160

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-26
   listed $165,000
2. 2026-05-04
   soldstatus $140,000

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

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $762 · $64/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: +$723/yr (+$60/mo · 94.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,039
• − Mortgage interest: −$9,243
• − Property taxes: −$762
• − Insurance: −$825
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$4,800
• Taxable loss: −$3,837
• Est. tax savings @ 24.0%: +$921
• After-tax cash flow: $41/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: Walters
• NCES district ID: 4031470
• Math proficiency: 22% ▼ -4.00%
• Reading proficiency: 25% ▼ -3.00%
• Median HH income: $48,681
• Composite: 20.68/100
• National rank: #8530
• State rank: #122 of 270 in OK

Livability — Walters

• Score: 64/100
• State rank: #165
• US rank: #13750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walters, OK
• Population (ZIP): 3,194

Population outlook (Cotton County) Hauer SSP2

• Today (2025): 5,847 people
• By 2030: 5,759 · -1.5%
• By 2040: 5,619 · -3.9%
• By 2050: 5,550 · -5.1%
• By 2075: 5,839 · -0.1%
• By 2100: 6,503 · +11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Native American 12% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 2% Italian 2% European 1%
• Foreign-born: 1% · Canada
• Languages at home: 92% English-only · Spanish 5%

Political lean MEDSL · Cotton

• 2024 margin: Solid R (+66.8) · D 15.6% · R 82.5% · Other 1.9%
• 2008→2024 swing: -22.4pp toward R · 2008: -44.4pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+67.0 2016: R+62.6 2012: R+46.4 2008: R+44.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.87%
• Current HPI: 193.3992
• 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

+17.9% since first listed

2 events — show timeline

• 2026-05-26 Listed $165,000 FSBO.com
• 2026-05-04 Sold (Public Records) $140,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $762 · -6.0% YoY. Source: county tax records.