1215 Hershel Dr · Elgin, OK 73538

$249,900

3 bd · 2.0 ba · 1,559 sqft · Land public records · 47 Days on market

Built 2007 0.26 ac lot

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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 +12.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Schools +3.0/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This beautifully maintained 1,600 sq. ft. home features three bedrooms and two bathrooms, situated on a corner lot and is ready for a new owner. Whether you're searching for a starter home or an investment property, this residence is conveniently located near the highly regarded Elgin school system. The open living space creates an inviting atmosphere for family time. The modern countertops and stainless steel appliances add a touch of comfort and style to this house. With great potential for growth and improvement, this property represents a promising investment opportunity. For a private showing, please call me, Jim Ard, at 580-305-7777.

Key facts

• Spacious corner lot
• Open-concept layout
• 0.26 acre lot

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS CORNER LOT

Property features AI

Exterior

• Parking: Detached 2-car garage with garage door opener; 2 covered parking spaces (total 2 parking spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; One level; Residential property
• Construction: Brick veneer construction; Composition roof; Slab foundation; Built in 2026
• Exterior features: Covered patio; Patio; Porch; Wood fencing

Interior

• Kitchen: Oven; Range hood
• Flooring: Ceramic tile; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central electric air conditioning; Ceiling fan(s)
• Interior features: Walk-in closet(s); Storm windows; Gas water heater; Oven; Range hood
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $250k.

Deal economics

• At list price, monthly cash flow is $-57 ($-684/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (22.7% below list).
• Recommended offer: $193k (22.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#17 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Elgin (rural): math 29% / reading 36% proficiency, ranked #38 of 270 in OK (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elgin Es (math 36% / reading 33%, grade F, #168 of 845 statewide, top 24%, 945 students, 0% FRL); Elgin Ms (math 26% / reading 34%, grade F, #49 of 345 statewide, top 15%, 791 students, 0% FRL); Elgin Hs (math 27% / reading 47%, grade F, #42 of 447 statewide, top 10%, 771 students, 0% FRL) — zoned schools average 0% FRL vs 29% district-wide (29 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 96 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $107k; list at $250k implies a 134% gain — meaningful room to come down on a strong offer.

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 $193,049 (22.7% 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. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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: 0.77% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.6%
• Equity multiple: 2.89×
• Total profit: $132,409
• Equity at exit: $225,130

10-year hold

• IRR: 21.0%
• Equity multiple: 6.61×
• Total profit: $392,661
• Equity at exit: $485,501

Cash invested: $69,972 (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 73538

• Home prices YoY: 22.9%
• Active inventory: 96
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$168 /mo · $2,010/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $-57

Break-even live

Break-even rent $2,003

Max offer price $239,824

Occupancy floor 98%

Sensitivity live

Price	-10% $84	-5% $14	+0% $-57	+5% $-128	+10% $-199
Rent	-10% $-210	-5% $-133	+0% $-57	+5% $19	+10% $95
Rate	-1.0pp $69	-0.5pp $7	base $-57	+0.5pp $-122	+1.0pp $-188

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Alma Dr Elgin, OK	4.0	2.0	1800	$1,900	$1.06	13d	1	0.12mi
107 Oak St Elgin, OK	4.0	1.0	1300	$1,295	$1.00	13d	1	0.18mi
1534 Stonehouse Dr Elgin, OK	3.0	2.0	1700	$1,975	$1.16	25d	1	0.29mi
1517 Stonehouse Dr Elgin, OK	4.0	2.0	1565	$1,700	$1.09	22d	1	0.33mi
313 Marilyn Glover Dr Elgin, OK	3.0	2.0	1600	$1,650	$1.03	25d	1	1.01mi

Listing history 28 events

1. 2026-06-21
   days on market $249,900 Active 47 DOM
2. 2026-06-19
   days on market $249,900 Active 45 DOM
3. 2026-06-18
   days on market $249,900 Active 44 DOM
4. 2026-06-17
   days on market $249,900 Active 43 DOM
5. 2026-06-16
   days on market $249,900 Active 42 DOM
6. 2026-06-15
   days on market $249,900 Active 41 DOM
7. 2026-06-14
   days on market $249,900 Active 39 DOM
8. 2026-06-13
   days on market $249,900 Active 38 DOM
9. 2026-06-10
   days on market $249,900 Active 36 DOM
10. 2026-06-09
    days on market $249,900 Active 35 DOM
11. 2026-06-08
    days on market $249,900 Active 34 DOM
12. 2026-06-07
    days on market $249,900 Active 33 DOM
13. 2026-06-05
    days on market $249,900 Active 30 DOM
14. 2026-06-02
    days on market $249,900 Active 28 DOM
15. 2026-06-01
    days on market $249,900 Active 27 DOM
16. 2026-05-31
    days on market $249,900 Active 26 DOM
17. 2026-05-30
    days on market $249,900 Active 25 DOM
18. 2026-05-05
    price $255,000
19. 2026-05-04
    listed $225,000 Active
20. 2025-01-22
    soldstatus $107,000
21. 2025-01-17
    soldstatus $214,000 Closed 647-char remark

    Show marketing remark (647 chars)

    This beautifully maintained 1,600 sq. ft. home features three bedrooms and two bathrooms, situated on a corner lot and is ready for a new owner. Whether you're searching for a starter home or an investment property, this residence is conveniently located near the highly regarded Elgin school system. The open living space creates an inviting atmosphere for family time. The modern countertops and stainless steel appliances add a touch of comfort and style to this house. With great potential for growth and improvement, this property represents a promising investment opportunity. For a private showing, please call me, Jim Ard, at 580-305-7777.

22. 2024-12-16
    historical Active Under Contract 647-char remark

    Show marketing remark (647 chars)

    This beautifully maintained 1,600 sq. ft. home features three bedrooms and two bathrooms, situated on a corner lot and is ready for a new owner. Whether you're searching for a starter home or an investment property, this residence is conveniently located near the highly regarded Elgin school system. The open living space creates an inviting atmosphere for family time. The modern countertops and stainless steel appliances add a touch of comfort and style to this house. With great potential for growth and improvement, this property represents a promising investment opportunity. For a private showing, please call me, Jim Ard, at 580-305-7777.

23. 2024-11-15
    status Active 647-char remark

    Show marketing remark (647 chars)

    This beautifully maintained 1,600 sq. ft. home features three bedrooms and two bathrooms, situated on a corner lot and is ready for a new owner. Whether you're searching for a starter home or an investment property, this residence is conveniently located near the highly regarded Elgin school system. The open living space creates an inviting atmosphere for family time. The modern countertops and stainless steel appliances add a touch of comfort and style to this house. With great potential for growth and improvement, this property represents a promising investment opportunity. For a private showing, please call me, Jim Ard, at 580-305-7777.

24. 2024-11-08
    historical Active Under Contract 647-char remark

    Show marketing remark (647 chars)

    This beautifully maintained 1,600 sq. ft. home features three bedrooms and two bathrooms, situated on a corner lot and is ready for a new owner. Whether you're searching for a starter home or an investment property, this residence is conveniently located near the highly regarded Elgin school system. The open living space creates an inviting atmosphere for family time. The modern countertops and stainless steel appliances add a touch of comfort and style to this house. With great potential for growth and improvement, this property represents a promising investment opportunity. For a private showing, please call me, Jim Ard, at 580-305-7777.

25. 2024-10-21
    listed $225,000 Active 647-char remark

    Show marketing remark (647 chars)

    This beautifully maintained 1,600 sq. ft. home features three bedrooms and two bathrooms, situated on a corner lot and is ready for a new owner. Whether you're searching for a starter home or an investment property, this residence is conveniently located near the highly regarded Elgin school system. The open living space creates an inviting atmosphere for family time. The modern countertops and stainless steel appliances add a touch of comfort and style to this house. With great potential for growth and improvement, this property represents a promising investment opportunity. For a private showing, please call me, Jim Ard, at 580-305-7777.

26. 2008-12-01
    soldstatus $161,000
27. 2007-11-07
    listed $161,000
28. 2007-06-18
    soldstatus $13,000

ⓘ 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: $2,010 · $168/mo
• Projected year-2 tax: $2,249 · $187/mo
• Expected delta: +$239/yr (+$20/mo · 11.9%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $23,166
• − Mortgage interest: −$13,998
• − Property taxes: −$2,010
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − Depreciation: −$7,270
• Taxable loss: −$5,068
• Est. tax savings @ 24.0%: +$1,216
• After-tax cash flow: $532/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: Elgin
• NCES district ID: 4010710
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $65,900
• Composite: 29.77/100
• National rank: #6432
• State rank: #38 of 270 in OK

Livability — Elgin

• Score: 73/100
• State rank: #17
• US rank: #5411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, OK
• County: Comanche County · 96,361 people
• City population: 7,128
• Metro: Lawton, OK
• Population (ZIP): 7,128
• Household income: $91,324
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 70.0

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 124,518 people
• By 2030: 124,231 · -0.2%
• By 2040: 122,193 · -1.9%
• By 2050: 120,368 · -3.3%
• By 2075: 120,492 · -3.2%
• By 2100: 123,113 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 13% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Comanche

• 2024 margin: Strong R (+23.3) · D 37.4% · R 60.7% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -17.5pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+20.1 2016: R+23.7 2012: R+17.0 2008: R+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 45.70%
• Current HPI: 245.4249
• Rent YoY: —
• Metro: Lawton, OK
• 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

+1861.5% since first listed

11 events — show timeline

• 2026-05-05 Price Changed $255,000 LBRMLS
• 2026-05-04 Listed $225,000 LBRMLS
• 2025-01-22 Sold (Public Records) $107,000 Public Records
• 2025-01-17 Sold (MLS) $214,000 LBRMLS
• 2024-12-16 Contingent — LBRMLS
• 2024-11-15 Relisted — LBRMLS
• 2024-11-08 Contingent — LBRMLS
• 2024-10-21 Listed $225,000 LBRMLS
• 2008-12-01 Sold (MLS) $161,000 LBRMLS
• 2007-11-07 Listed $161,000 LBRMLS
• 2007-06-18 Sold (Public Records) $13,000 Public Records

Property tax history

+4.6%/yr

Latest (2023): $2,010 · +4.6% YoY. Source: county tax records.