119 S Oak St · Erick, OK 73645

$25,000

2 bd · 1.0 ba · 1,226 sqft · SingleFamily · 349 Days on market

Built 1925 0.28 ac lot

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Schools +4.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome to a home that is truly ready to be totally made over. Situated on a large, corner lot just a block from downtown Erick, it has lots of potential! Come see if this is the home you have been waiting to purchase and remodel.

Key facts

• Downtown erick
• Corner lot
• 0.28 acre lot

Tags

• CORNER LOT
• DOWNTOWN ERICK

Property features AI

Finance

• Other: Corner parcel of approximately 0.2812 acres; Located in Erick addition; Directions: From Roger Miller and Oak St - 1 block south on Oak. Property on the right.
• Financial info: Listing offered As Is; acceptable financing: Cash or Conventional; Assumable: No
• HOA & community: No mandatory association dues; Homestead exempt

Exterior

• Home design: Single-family residence; Single-story; Property faces east; Existing property
• Construction: Stucco construction; Composition roof; Combination foundation; Built (existing)
• Exterior features: Outbuildings; Below-ground and outdoor storm shelter; Corner lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: One living area; One dining area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#218 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: amenities F, commute F, employment F.
• Erick (rural): math 50% / reading 60% proficiency, ranked #19 of 513 in OK (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Erick Es (math 52% / reading 57%, grade C, #23 of 845 statewide, top 3%, 152 students, 0% FRL); Erick Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 57 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 40% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Erick average; the district grade overstates school quality for this exact location.
• Market conditions: 19 active listings in the ZIP; 16 units permitted in Beckham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($173 loan paydown + $1k appreciation (4.6% local appreciation)).
• Beckham County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 349 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 349 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 1925 — 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. 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: 4.16% ✓
• Cap rate: 37.40%
• Cash-on-cash: 111.11%
• DSCR: 5.94
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $116,470
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 N Walnut St	0.27mi	3/2.0 (+1)	1,160 (-5%)	21mo	$110,000	$95	52
104 S Cedar Ave	0.39mi	2/2.0	1,104 (-10%)	23mo	$38,000	$34	42

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

Projected returns pro-forma

4.57% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.64×
• Total profit: $46,452
• Equity at exit: $13,524

10-year hold

• IRR: —
• Equity multiple: 16.01×
• Total profit: $105,072
• Equity at exit: $22,826

Cash invested: $7,000 (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 73645

• Home prices YoY: 4.4%
• Active inventory: 19
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,039 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $648

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 33%

Sensitivity live

Price	-10% $665	-5% $657	+0% $648	+5% $639	+10% $631
Rent	-10% $566	-5% $607	+0% $648	+5% $689	+10% $730
Rate	-1.0pp $661	-0.5pp $654	base $648	+0.5pp $642	+1.0pp $635

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $25,000 Active 349 DOM
2. 2026-06-21
   days on market $25,000 Active 348 DOM
3. 2026-06-21
   days on market $25,000 Active 347 DOM
4. 2026-06-18
   days on market $25,000 Active 345 DOM
5. 2026-06-17
   days on market $25,000 Active 344 DOM
6. 2026-06-16
   days on market $25,000 Active 343 DOM
7. 2026-06-15
   days on market $25,000 Active 342 DOM
8. 2026-06-13
   days on market $25,000 Active 340 DOM
9. 2026-06-12
   days on market $25,000 Active 339 DOM
10. 2026-06-09
    days on market $25,000 Active 336 DOM
11. 2026-06-08
    days on market $25,000 Active 335 DOM
12. 2026-06-08
    days on market $25,000 Active 334 DOM
13. 2026-06-07
    days on market $25,000 Active 333 DOM
14. 2026-06-04
    days on market $25,000 Active 330 DOM
15. 2026-06-02
    days on market $25,000 Active 329 DOM
16. 2026-06-01
    days on market $25,000 Active 328 DOM
17. 2026-05-31
    days on market $25,000 Active 327 DOM
18. 2025-07-08
    price $25,000
19. 2025-07-08
    listed $15,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $12,469
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$998
• − Management: −$998
• − Depreciation: −$727
• Taxable income: $7,846
• Est. tax owed @ 24.0%: −$1,883
• After-tax cash flow: $5,894/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: Erick
• NCES district ID: 4011040
• Math proficiency: 50% ▲ 5.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $39,189
• Composite: 47.69/100
• National rank: #4918
• State rank: #19 of 513 in OK

Livability — Erick

• Score: 63/100
• State rank: #218
• US rank: #15619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Erick, OK
• Population (ZIP): 1,090

Population outlook (Beckham County) Hauer SSP2

• Today (2025): 26,564 people
• By 2030: 28,217 · +6.2%
• By 2040: 31,865 · +20.0%
• By 2050: 35,862 · +35.0%
• By 2075: 47,189 · +77.6%
• By 2100: 55,622 · +109.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 1%
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Beckham

• 2024 margin: Solid R (+70.1) · D 14.2% · R 84.3% · Other 1.4%
• 2008→2024 swing: -14.0pp toward R · 2008: -56.1pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+72.0 2016: R+70.8 2012: R+59.1 2008: R+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.57%
• Current HPI: 108.667
• 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

+66.7% since first listed

2 events — show timeline

• 2025-07-08 Price Changed $25,000 MLSOK
• 2025-07-08 Listed $15,000 MLSOK