228 S 2nd St · Waukomis, OK 73773

$40,900

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 49 Days on market

Built 1910 0.28 ac lot ↓ 30% since listing

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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 +6.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks

Attention investors, great opportunity in Garfield, County, single family home built in 1910. Located 7 miles from Vance Air Force Base and Enid, OK. Currently a 2 bedroom home with one bath and 2 living areas. Has a large 2-car detached garage. Being sold as is. Listing agent is related to seller.

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1910

Property features AI

Finance

• Other: Vacant and available; Living area listed as 1,120 (assessor)
• Financial info: Listing offered as-is; terms include cash and conventional; Not assumable
• HOA & community: No mandatory association dues; Homestead exempt

Exterior

• Parking: 2-car garage
• Utilities: No storm shelter
• Home design: Single-family residence; One-level property; Property faces east; Residential
• Construction: Frame construction; Composition roof (replaced/installed in 2020); Conventional foundation
• Exterior features: Open patio; Wood fencing; Interior lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating; Window air conditioning units
• Interior features: No fireplace; No in-law plan; Two living areas

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $41k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $41k).
• Recommended offer: $40k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#70 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Waukomis (rural): math 12% / reading 16% proficiency, ranked #217 of 270 in OK (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Waukomis Es (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 276 students, 0% FRL); Waukomis Hs (math 30% / reading 50%, grade F, #25 of 447 statewide, top 8%, 109 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 12 active listings in the ZIP; 19 units permitted in Garfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($283 loan paydown + $1k appreciation (2.5% local appreciation)).
• Garfield County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($40k) 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.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,673 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.43% ✓
• Cap rate: 22.04%
• Cash-on-cash: 56.24%
• DSCR: 3.50
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $124,320
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
609 Lisa Ln	0.62mi	3/1.5 (+1)	1,117 (-0%)	9mo	$143,500	$128	56
501 Highland Dr	0.45mi	3/1.5 (+1)	1,053 (-6%)	14mo	$115,000	$109	51
510 Highland Dr	0.49mi	3/1.5 (+1)	1,065 (-5%)	14mo	$118,700	$111	51
608 Amy Dr	0.69mi	3/1.0 (+1)	1,103 (-2%)	14mo	$90,000	$82	49
615 W Cherokee St	0.55mi	3/2.0 (+1)	1,066 (-5%)	18mo	$85,000	$80	42
605 Highland Dr	0.49mi	3/1.5 (+1)	1,262 (+13%)	13mo	$140,000	$111	38

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

Projected returns pro-forma

2.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.7%
• Equity multiple: 4.33×
• Total profit: $38,112
• Equity at exit: $17,334

10-year hold

• IRR: 60.6%
• Equity multiple: 8.77×
• Total profit: $89,026
• Equity at exit: $25,920

Cash invested: $11,452 (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 73773

• Home prices YoY: 1.7%
• Active inventory: 12
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$214
• Tax from tax record: −$18 /mo · $218/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $537

Break-even live

Break-even rent $316

Max offer price $40,900

Occupancy floor 41%

Sensitivity live

Price	-10% $560	-5% $548	+0% $537	+5% $525	+10% $514
Rent	-10% $458	-5% $497	+0% $537	+5% $576	+10% $615
Rate	-1.0pp $557	-0.5pp $547	base $537	+0.5pp $526	+1.0pp $515

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: $10,225
• Closing costs: $1,227
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $40,900 Active 49 DOM
2. 2026-06-18
   days on market $40,900 Active 48 DOM
3. 2026-06-17
   days on market $40,900 Active 47 DOM
4. 2026-06-16
   days on market $40,900 Active 46 DOM
5. 2026-06-15
   days on market $40,900 Active 45 DOM
6. 2026-06-14
   days on market $40,900 Active 43 DOM
7. 2026-06-12
   days on market $40,900 Active 42 DOM
8. 2026-06-09
   days on market $40,900 Active 39 DOM
9. 2026-06-08
   days on market $40,900 Active 38 DOM
10. 2026-06-07
    days on market $40,900 Active 37 DOM
11. 2026-06-05
    days on market $40,900 Active 34 DOM
12. 2026-06-03
    days on market $40,900 Active 33 DOM
13. 2026-06-02
    days on market $40,900 Active 32 DOM
14. 2026-06-01
    days on market $40,900 Active 31 DOM
15. 2026-05-31
    days on market $40,900 Active 30 DOM
16. 2026-05-30
    days on market $40,900 Active 29 DOM
17. 2026-04-30
    listed $40,900 Active
18. 2026-04-06
    historical
19. 2026-02-18
    price $45,900
20. 2025-11-06
    price $49,900
21. 2025-09-04
    price $54,900
22. 2025-09-03
    listed $58,500 Active

ⓘ 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: $218 · $18/mo
• Projected year-2 tax: $368 · $31/mo
• Expected delta: +$150/yr (+$13/mo · 68.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥109°F today · 16 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: $11,945
• − Mortgage interest: −$2,291
• − Property taxes: −$218
• − Insurance: −$204
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$1,190
• Taxable income: $6,131
• Est. tax owed @ 24.0%: −$1,471
• After-tax cash flow: $4,969/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: Waukomis
• NCES district ID: 4031950
• Math proficiency: 12% ▼ -33.00%
• Reading proficiency: 16% ▼ -14.00%
• Median HH income: $53,601
• Composite: 13.27/100
• National rank: #9546
• State rank: #217 of 270 in OK

Livability — Waukomis

• Score: 68/100
• State rank: #70
• US rank: #9716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waukomis, OK
• Population (ZIP): 1,537

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: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Iranian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 0% · Canada

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: ▲ 2.54%
• Current HPI: 148.0306
• 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

-30.1% since first listed

6 events — show timeline

• 2026-04-30 Listed $40,900 MLSOK
• 2026-04-06 Listing Removed — MLSOK
• 2026-02-18 Price Changed $45,900 MLSOK
• 2025-11-06 Price Changed $49,900 MLSOK
• 2025-09-04 Price Changed $54,900 MLSOK
• 2025-09-03 Listed $58,500 MLSOK

Property tax history

+2.5%/yr

Latest (2025): $218 · -1.8% YoY. Source: county tax records.