401 E Walnut Ave · Enid, OK 73701

$10,000

2 bd · 1.0 ba · 1,024 sqft · SingleFamily public records · 1 Days on market

Built 1950

---

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
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This 400 square foot single family home has 2 bedrooms and 1.0 bathrooms. This home is located at 401 E Walnut Ave, Enid, OK 73701.

Key facts

• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($912 rent vs $10k).
• Cap rate 83.2% vs local median 5.0% in Enid — 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 63/100 on livability (#212 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D-, crime F.
• Enid (town): math 19% / reading 22% proficiency, ranked #168 of 270 in OK (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 79 active listings in the ZIP; 19 units permitted in Garfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $69 of loan paydown is wiped out by about $300 of value loss. Plan a longer hold.
• Garfield County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $7k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $10,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 9.12% ✓
• Cap rate: 83.22%
• Cash-on-cash: 274.75%
• DSCR: 13.22
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $36,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
906 E Elm Ave	0.47mi	2/1.0	979 (-4%)	6mo	$35,000	$36	65
624 E Randolph Ave	0.41mi	1/1.0 (-1)	966 (-6%)	2mo	$28,000	$29	65
322 N 11th St	0.59mi	2/1.0	1,090 (+6%)	0mo	$29,000	$27	62
506 N 10th St	0.50mi	3/1.5 (+1)	1,024 (0%)	11mo	$99,000	$97	61
609 E Maple Ave	0.36mi	3/1.0 (+1)	956 (-7%)	8mo	$16,500	$17	61
354 E Cedar Ave	0.37mi	3/1.0 (+1)	1,102 (+8%)	7mo	$108,000	$98	59
1318 N Washington St	0.69mi	2/1.0	985 (-4%)	4mo	$35,000	$36	58
1517 N Kennedy St	0.59mi	3/1.0 (+1)	968 (-6%)	2mo	$90,000	$93	57
753 N 12th St	0.69mi	2/1.0	1,068 (+4%)	4mo	$7,000	$7	57
325 N 10th St	0.54mi	2/1.0	932 (-9%)	8mo	$30,000	$32	53
114 W Hemlock Ave	0.75mi	2/1.0	987 (-4%)	8mo	$37,000	$37	53
1309 N 10th St	0.65mi	3/1.0 (+1)	1,092 (+7%)	4mo	$25,000	$23	50

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

Projected returns pro-forma

-3.0% appreciation · 3.16% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 15.06×
• Total profit: $39,377
• Equity at exit: $1,491

10-year hold

• IRR: —
• Equity multiple: 32.27×
• Total profit: $87,551
• Equity at exit: $865

Cash invested: $2,800 (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 73701

• Home prices YoY: -30.2%
• Rents YoY: 3.2%
• Active inventory: 79
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $912 medium
• Mortgage (P&I): −$52
• Tax from tax record: −$22 /mo · $270/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $641

Break-even live

Break-even rent $100

Max offer price $10,000

Occupancy floor 25%

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: $2,500
• Closing costs: $300
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-26
   listed $10,000 Active
2. 2008-05-07
   soldstatus $7,000

ⓘ 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: $270 · $22/mo
• Projected year-2 tax: $270 · $22/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,940
• − Mortgage interest: −$560
• − Property taxes: −$270
• − Insurance: −$50
• − Repairs & maintenance: −$875
• − Management: −$875
• − Depreciation: −$291
• Taxable income: $8,018
• Est. tax owed @ 24.0%: −$1,924
• After-tax cash flow: $5,769/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: Enid
• NCES district ID: 4010920
• Math proficiency: 19% ▼ -11.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $42,389
• Composite: 17.59/100
• National rank: #9040
• State rank: #168 of 270 in OK

Livability — Enid

• Score: 63/100
• State rank: #212
• US rank: #15472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enid, OK
• County: Garfield County · 55,032 people
• City population: 55,032
• Metro: Enid, OK
• Population (ZIP): 24,476
• Household income: $50,843
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 576.0

Population outlook (Garfield County) Hauer SSP2

• Today (2025): 69,026 people
• By 2030: 72,171 · +4.6%
• By 2040: 79,366 · +15.0%
• By 2050: 87,847 · +27.3%
• By 2075: 112,714 · +63.3%
• By 2100: 135,682 · +96.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Hispanic / Latino 22% Two or more races 11% Pacific Islander 10% Native American 4% Black 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Iranian 4% Lithuanian 2% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 14% Other Asian/Pacific 6%

Political lean MEDSL · Garfield

• 2024 margin: Solid R (+53.8) · D 22.2% · R 76.0% · Other 1.8%
• 2008→2024 swing: -2.8pp toward R · 2008: -51.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+53.7 2016: R+53.5 2012: R+52.5 2008: R+51.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.42%
• Current HPI: 169.408
• Rent YoY: ▲ 3.16%
• Metro: Enid, 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

+42.9% since first listed

2 events — show timeline

• 2026-05-26 Listed $10,000 FSBO.com
• 2008-05-07 Sold (Public Records) $7,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $270 · +9.8% YoY. Source: county tax records.