401 W Friendship St · Mangum, OK 73554

$15,000

2 bd · 1.0 ba · 1,488 sqft · SingleFamily public records · 77 Days on market

Built 1983 0.41 ac lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

4 lots for sale. There is a house on the property but condition is unknown. To be sold AS IS. Seller will make no repairs. Lots are spacious.

Key facts

• 0.41 acre lot
• Built 1983
• Listed 77 days

Property features AI

Finance

• Other: No storm shelter; Homestead not indicated
• Financial info: Not assumable
• HOA & community: No mandatory association dues

Exterior

• Utilities: Living area recorded from assessor (1,488)
• Home design: Single-family residence; One-story; Property faces north; Residential property; Existing property
• Construction: Built with stone and other materials; Composition roof
• Exterior features: No notable exterior features listed; Lot described as Other

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating; No central air conditioning
• Interior features: One living area; No study; Slab foundation

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $14k (6.0% below list) — sets the bar for market timing.
• Cap rate 65.4% vs local median 7.7% in Mangum — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#144 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Mangum (town): math 27% / reading 28% proficiency, ranked #89 of 270 in OK (top 33%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Edison Es (math 47% / reading 32%, grade F, #107 of 845 statewide, top 14%, 239 students, 0% FRL); Mangum Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 175 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 46 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.5%/yr); year-one equity from $104 of loan paydown is wiped out by about $368 of value loss. Plan a longer hold.
• Greer County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.5% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($14k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $10k; list at $15k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $14,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 7.02% ✓
• Cap rate: 65.35%
• Cash-on-cash: 210.93%
• DSCR: 10.39
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $124,992
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 N Louis Tittle Ave	0.43mi	3/1.0 (+1)	1,380 (-7%)	2mo	$116,000	$84	61
1002 N Pennsylvania Ave	0.55mi	3/1.0 (+1)	1,522 (+2%)	6mo	$35,000	$23	60
1906 N Pennsylvania Ave	0.37mi	2/1.0	1,320 (-11%)	7mo	$87,000	$66	58
214 E Van Buren St	0.70mi	2/2.0	1,428 (-4%)	7mo	$108,000	$76	50
501 N Maryland Ave	0.73mi	2/2.0	1,700 (+14%)	1mo	$155,000	$91	37
705 N Pennsylvania Ave	0.65mi	3/2.0 (+1)	1,280 (-14%)	2mo	$110,000	$86	36

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

Projected returns pro-forma

-2.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.70×
• Total profit: $44,944
• Equity at exit: $2,603

10-year hold

• IRR: —
• Equity multiple: 24.82×
• Total profit: $100,023
• Equity at exit: $1,935

Cash invested: $4,200 (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 73554

• Home prices YoY: -2.7%
• Active inventory: 46
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$79
• Tax from tax record: −$9 /mo · $111/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $738

Break-even live

Break-even rent $119

Max offer price $15,000

Occupancy floor 25%

Sensitivity live

Price	-10% $747	-5% $743	+0% $738	+5% $734	+10% $730
Rent	-10% $655	-5% $697	+0% $738	+5% $780	+10% $822
Rate	-1.0pp $746	-0.5pp $742	base $738	+0.5pp $734	+1.0pp $730

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $15,000 Active 77 DOM
2. 2026-06-18
   days on market $15,000 Active 75 DOM
3. 2026-06-17
   days on market $15,000 Active 74 DOM
4. 2026-06-16
   days on market $15,000 Active 73 DOM
5. 2026-06-15
   days on market $15,000 Active 72 DOM
6. 2026-06-13
   days on market $15,000 Active 70 DOM
7. 2026-06-12
   days on market $15,000 Active 69 DOM
8. 2026-06-09
   days on market $15,000 Active 66 DOM
9. 2026-06-08
   days on market $15,000 Active 65 DOM
10. 2026-06-08
    days on market $15,000 Active 64 DOM
11. 2026-06-07
    days on market $15,000 Active 63 DOM
12. 2026-06-04
    days on market $15,000 Active 60 DOM
13. 2026-06-02
    days on market $15,000 Active 59 DOM
14. 2026-06-01
    days on market $15,000 Active 58 DOM
15. 2026-05-31
    days on market $15,000 Active 57 DOM
16. 2026-04-04
    listed $15,000 Active
17. 2025-04-02
    soldstatus $10,000 Closed 141-char remark

    Show marketing remark (141 chars)

    4 lots for sale. There is a house on the property but condition is unknown. To be sold AS IS. Seller will make no repairs. Lots are spacious.

18. 2025-03-13
    status Pending 141-char remark

    Show marketing remark (141 chars)

    4 lots for sale. There is a house on the property but condition is unknown. To be sold AS IS. Seller will make no repairs. Lots are spacious.

19. 2025-02-23
    listed $10,000 Active 141-char remark

    Show marketing remark (141 chars)

    4 lots for sale. There is a house on the property but condition is unknown. To be sold AS IS. Seller will make no repairs. Lots are spacious.

ⓘ 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: $111 · $9/mo
• Projected year-2 tax: $135 · $11/mo
• Expected delta: +$24/yr (+$2/mo · 21.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $12,644
• − Mortgage interest: −$840
• − Property taxes: −$111
• − Insurance: −$75
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$436
• Taxable income: $9,159
• Est. tax owed @ 24.0%: −$2,198
• After-tax cash flow: $6,661/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: Mangum
• NCES district ID: 4018780
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $36,568
• Composite: 22.85/100
• National rank: #8012
• State rank: #89 of 270 in OK

Livability — Mangum

• Score: 65/100
• State rank: #144
• US rank: #13248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mangum, OK
• Population (ZIP): 3,361

Population outlook (Greer County) Hauer SSP2

• Today (2025): 5,904 people
• By 2030: 5,869 · -0.6%
• By 2040: 5,790 · -1.9%
• By 2050: 5,712 · -3.3%
• By 2075: 5,196 · -12.0%
• By 2100: 4,326 · -26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 8% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 1% · China, Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Greer

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.1%
• 2008→2024 swing: -19.3pp toward R · 2008: -46.5pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+64.7 2016: R+61.1 2012: R+46.7 2008: R+46.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.45%
• Current HPI: 88.9252
• 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

+50.0% since first listed

4 events — show timeline

• 2026-04-04 Listed $15,000 MLSOK
• 2025-04-02 Sold (MLS) $10,000 MLSOK
• 2025-03-13 Pending — MLSOK
• 2025-02-23 Listed $10,000 MLSOK

Property tax history

+39.8%/yr

Latest (2025): $111 · +692.9% YoY. Source: county tax records.