1909 N Flamingo Ln · Altus, OK 73521

$150,000

3 bd · 2.0 ba · 1,893 sqft · SingleFamily public records · 19 Days on market

Built 1968 10,677 sqft lot Est $218k · 31% under ↓ 32% since listing

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Why this score? — see what drove the C- 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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Flamingo Lane! This unique style home has 2 living spaces, 3 bedrooms, and 1 bath. The first living room has 3 large windows facing the east for beautiful morning sun, the wood burning fireplace is also located in this room. The next living area offers great storage with a walk in closet! The bathroom has a large walk-in shower that has been recently remodeled. The laundry/utility room is oversized and can be used for many things. The backyard includes a storage shed, concrete sidewalk, and new privacy fence on the east side. Call for a showing today!

Key facts

• Large flex space
• Storage shed
• Two living rooms

Tags

• TWO LIVING ROOMS
• LARGE FLEX SPACE
• A LOT OF STORAGE
• LARGE SHADE TREE
• STORAGE SHED
• LIFETIME TRANSFERABLE WARRANTY

Property features AI

Finance

• Other: Taxes listed (amount provided in source data)
• Financial info: Listing offered 'as is'; Loan financing allowed (may qualify); Assumable loan: no
• HOA & community: No mandatory association dues

Exterior

• Utilities: Homestead not claimed
• Home design: Single-family residence; One-story (entry level: one)
• Construction: Brick and frame construction; Other roof type; Combination foundation; Built status listed as 'Blueprint'
• Exterior features: No additional exterior features listed; Lot described as 'Other'

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: Two living areas; One gas-log fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $79 ($943/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (16.7% below list).
• Recommended offer: $125k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.7% in Altus — 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 (#151 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Altus (town): math 31% / reading 28% proficiency, ranked #69 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Altus Early Childhood Center (390 students, 0% FRL); Altus Jhs (math 30% / reading 27%, grade F, #57 of 345 statewide, top 18%, 491 students, 0% FRL); Altus Hs (math 21% / reading 26%, grade F, #218 of 447 statewide, top 49%, 921 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 168 active listings in the ZIP; 8 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jackson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $36k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $124,879 (16.7% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.25%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $217,695
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 Comanche Trl	0.40mi	3/2.0	1,880 (-1%)	4mo	$255,000	$136	77
304 N Cardinal Cir	0.21mi	3/2.0	1,770 (-6%)	3mo	$250,000	$141	77
1724 N Lee St	0.34mi	3/2.0	1,956 (+3%)	3mo	$185,000	$95	76
605 Comanche Trl	0.41mi	3/2.0	1,975 (+4%)	3mo	$265,000	$134	71
2212 N Robin St	0.37mi	3/2.0	2,038 (+8%)	1mo	$234,500	$115	69
305 S Mockingbird Dr	0.21mi	3/2.0	1,646 (-13%)	3mo	$170,000	$103	66
2524 N Robin St	0.44mi	3/2.0	1,716 (-9%)	2mo	$149,000	$87	62
2512 Apache St	0.38mi	3/2.0	2,052 (+8%)	8mo	$165,000	$80	62
1919 Sumner Dr	0.58mi	3/1.5	1,821 (-4%)	7mo	$202,000	$111	59
2015 Willard Dr	0.33mi	3/2.0	1,647 (-13%)	8mo	$209,000	$127	56
124 Cameron Dr	0.52mi	3/2.0	1,648 (-13%)	1mo	$170,000	$103	53
313 William Dr	0.57mi	3/2.0	1,650 (-13%)	5mo	$223,000	$135	48

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-19,361
• Equity at exit: $22,365

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-10,658
• Equity at exit: $12,969

Cash invested: $42,000 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 168
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,249 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$59 /mo · $706/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $79

Break-even live

Break-even rent $1,149

Max offer price $150,000

Occupancy floor 89%

Sensitivity live

Price	-10% $164	-5% $121	+0% $79	+5% $36	+10% $-6
Rent	-10% $-20	-5% $29	+0% $79	+5% $128	+10% $177
Rate	-1.0pp $154	-0.5pp $117	base $79	+0.5pp $40	+1.0pp $0

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-21
   days on market $150,000 Active 19 DOM
2. 2026-06-21
   days on market $150,000 Active 18 DOM
3. 2026-06-18
   days on market $150,000 Active 16 DOM
4. 2026-06-17
   days on market $150,000 Active 15 DOM
5. 2026-06-16
   days on market $150,000 Active 14 DOM
6. 2026-06-15
   days on market $150,000 Active 13 DOM
7. 2026-06-13
   days on market $150,000 Active 11 DOM
8. 2026-06-12
   days on market $150,000 Active 10 DOM
9. 2026-06-09
   days on market $150,000 Active 7 DOM
10. 2026-06-08
    days on market $150,000 Active 6 DOM
11. 2026-06-08
    days on market $150,000 Active 5 DOM
12. 2026-06-07
    days on market $150,000 Active 4 DOM
13. 2026-06-03
    days on marketlisting id $150,000 Active 1 DOM
14. 2026-05-16
    price $150,000
15. 2026-04-21
    price $155,000
16. 2026-04-07
    price $156,500
17. 2026-03-25
    price $157,500
18. 2026-03-02
    price $159,000
19. 2026-01-11
    price $161,000
20. 2025-11-27
    price $163,000
21. 2025-10-14
    price $165,000
22. 2025-09-21
    price $166,000
23. 2025-09-04
    price $168,000
24. 2025-08-17
    price $169,000
25. 2025-08-09
    price $175,000
26. 2025-07-09
    price $177,000
27. 2025-07-01
    price $179,500
28. 2025-06-16
    price $184,500
29. 2025-05-31
    listed $186,000 Active
30. 2025-05-30
    historical
31. 2025-03-19
    price $186,000
32. 2024-09-12
    price $187,000
33. 2024-08-17
    price $188,000
34. 2024-07-22
    price $218,500
35. 2024-05-30
    listed $220,000 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: $706 · $59/mo
• Projected year-2 tax: $1,350 · $112/mo
• Expected delta: +$644/yr (+$54/mo · 91.2%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $14,985
• − Mortgage interest: −$8,402
• − Property taxes: −$706
• − Insurance: −$750
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$4,364
• Taxable loss: −$1,634
• Est. tax savings @ 24.0%: +$392
• After-tax cash flow: $1,335/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: Altus
• NCES district ID: 4002850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $40,607
• Composite: 24.91/100
• National rank: #7574
• State rank: #69 of 270 in OK

Livability — Altus

• Score: 65/100
• State rank: #151
• US rank: #13386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altus, OK
• City population: 20,574
• Population (ZIP): 20,352

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 24,084 people
• By 2030: 23,476 · -2.5%
• By 2040: 22,731 · -5.6%
• By 2050: 22,586 · -6.2%
• By 2075: 25,413 · +5.5%
• By 2100: 31,069 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 15% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.3) · D 19.9% · R 78.2% · Other 1.9%
• 2008→2024 swing: -8.7pp toward R · 2008: -49.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.7 2016: R+57.6 2012: R+50.7 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.26%
• Current HPI: 178.7106
• 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

-31.8% since first listed

22 events — show timeline

• 2026-05-16 Price Changed $150,000 MLSOK
• 2026-04-21 Price Changed $155,000 MLSOK
• 2026-04-07 Price Changed $156,500 MLSOK
• 2026-03-25 Price Changed $157,500 MLSOK
• 2026-03-02 Price Changed $159,000 MLSOK
• 2026-01-11 Price Changed $161,000 MLSOK
• 2025-11-27 Price Changed $163,000 MLSOK
• 2025-10-14 Price Changed $165,000 MLSOK
• 2025-09-21 Price Changed $166,000 MLSOK
• 2025-09-04 Price Changed $168,000 MLSOK
• 2025-08-17 Price Changed $169,000 MLSOK
• 2025-08-09 Price Changed $175,000 MLSOK
• 2025-07-09 Price Changed $177,000 MLSOK
• 2025-07-01 Price Changed $179,500 MLSOK
• 2025-06-16 Price Changed $184,500 MLSOK
• 2025-05-31 Listed $186,000 MLSOK
• 2025-05-30 Listing Removed — MLSOK
• 2025-03-19 Price Changed $186,000 MLSOK
• 2024-09-12 Price Changed $187,000 MLSOK
• 2024-08-17 Price Changed $188,000 MLSOK
• 2024-07-22 Price Changed $218,500 MLSOK
• 2024-05-30 Listed $220,000 MLSOK

Property tax history

+3.7%/yr

Latest (2025): $706 · +4.6% YoY. Source: county tax records.