110 S Stephens · Hobart, OK 73651

$104,000

2 bd · 1.0 ba · 1,610 sqft · SingleFamily public records · 17 Days on market

Built 1930 0.32 ac lot Est $80k · 29% over

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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 +24.0/30.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +5.4/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome home to this spacious and well-maintained 3-bedroom, 2-bathroom home offering approximately 1,610 sq. ft. of comfortable living space in the heart of Hobart. Full of character and charm, this property features beautiful original hardwood floors hidden beneath the carpet, high ceilings, oversized entryways, custom-built cabinetry crafted with quality materials, and a functional kitchen with an eat-at island that opens to the living area. The large primary bedroom offers his-and-hers closets, while central heat and air (gas and electric) provide year-round comfort. A bright sunroom overlooks the backyard, creating the perfect space to enjoy your morning coffee or unwind at the end of

Key facts

• Functional kitchen
• Eat-at island
• Oversized entryways

Tags

• ORIGINAL HARDWOOD FLOORS
• HIGH CEILINGS
• OVERSIZED ENTRYWAYS
• CUSTOM-BUILT CABINETRY
• FUNCTIONAL KITCHEN
• EAT-AT ISLAND

Property features AI

Finance

• Other: Property listed as active and unoccupied
• Financial info: Loan qualification allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Detached or attached 1-car garage
• Home design: Single family residence; One level; Residential property; Located in the Hills addition; Homestead applicable
• Construction: Frame construction with vinyl siding; Composition roof; Combination foundation; Built (existing)
• Exterior features: Interior lot; No exterior features listed

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; No fireplace; Existing property

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $102k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#627 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Hobart (town): math 23% / reading 28% proficiency, ranked #110 of 270 in OK (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hobart Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 366 students, 0% FRL); Hobart Hs (math 5% / reading 24%, grade F, #332 of 447 statewide, top 78%, 197 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 active listings in the ZIP.

Forward outlook

• In year one you build about $11k of equity ($719 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $72k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,440 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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 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?
4. Crime grade is D 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?
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: 1.04% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $80,500
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 S Hitchcock St	0.15mi	3/1.0 (+1)	1,456 (-10%)	20mo	$11,666	$8	55
309 N Stephens St	0.24mi	3/2.0 (+1)	1,520 (-6%)	24mo	$48,000	$32	51
415 N Hitchcock St	0.34mi	3/1.0 (+1)	1,372 (-15%)	6mo	$5,000	$4	50
505 N Hill St	0.50mi	3/2.0 (+1)	1,782 (+11%)	8mo	$118,000	$66	43
326 N Washington St	0.58mi	3/2.0 (+1)	1,523 (-5%)	18mo	$83,100	$55	40
215 N Washington	0.50mi	3/2.0 (+1)	1,416 (-12%)	9mo	$139,500	$99	40
525 N Broadway St	0.58mi	3/2.0 (+1)	1,696 (+5%)	19mo	$9,000	$5	39
613 N Broadway	0.66mi	3/2.0 (+1)	1,407 (-13%)	6mo	$115,000	$82	34
526 N Hill St	0.55mi	3/2.0 (+1)	1,814 (+13%)	14mo	$90,000	$50	33

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

Projected returns pro-forma

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

5-year hold

• IRR: 30.4%
• Equity multiple: 3.39×
• Total profit: $69,601
• Equity at exit: $93,691

10-year hold

• IRR: 26.3%
• Equity multiple: 7.69×
• Total profit: $194,707
• Equity at exit: $202,049

Cash invested: $29,120 (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 73651

• Home prices YoY: 8.0%
• Active inventory: 52
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,086 medium
• Mortgage (P&I): −$545
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $204

Break-even live

Break-even rent $828

Max offer price $104,000

Occupancy floor 76%

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: $26,000
• Closing costs: $3,120
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $104,000 Active 17 DOM
2. 2026-06-17
   days on market $104,000 Active 16 DOM
3. 2026-06-16
   days on market $104,000 Active 15 DOM
4. 2026-06-15
   days on market $104,000 Active 14 DOM
5. 2026-06-13
   days on market $104,000 Active 12 DOM
6. 2026-06-12
   days on market $104,000 Active 11 DOM
7. 2026-06-09
   days on market $104,000 Active 8 DOM
8. 2026-06-08
   days on market $104,000 Active 7 DOM
9. 2026-06-08
   days on market $104,000 Active 6 DOM
10. 2026-06-05
    days on market $104,000 Active 4 DOM
11. 2026-06-04
    days on market $104,000 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    listed $104,000 Active 1 DOM

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $936 · $78/mo
• Expected delta: +$147/yr (+$12/mo · 18.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,038
• − Mortgage interest: −$5,826
• − Property taxes: −$789
• − Insurance: −$520
• − Repairs & maintenance: −$1,043
• − Management: −$1,043
• − Depreciation: −$3,025
• Taxable income: $792
• Est. tax owed @ 24.0%: −$190
• After-tax cash flow: $2,256/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: Hobart
• NCES district ID: 4014700
• Math proficiency: 23% ▼ -6.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $36,779
• Composite: 21.2/100
• National rank: #8417
• State rank: #110 of 270 in OK

Livability — Hobart

• Score: 53/100
• State rank: #627
• US rank: #24677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, OK
• City population: 4,070
• Population (ZIP): 4,070

Population outlook (Kiowa County) Hauer SSP2

• Today (2025): 8,842 people
• By 2030: 8,733 · -1.2%
• By 2040: 8,641 · -2.3%
• By 2050: 8,758 · -1.0%
• By 2075: 9,894 · +11.9%
• By 2100: 11,194 · +26.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 10% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 8% Italian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Kiowa

• 2024 margin: Solid R (+58.3) · D 20.1% · R 78.4% · Other 1.6%
• 2008→2024 swing: -23.5pp toward R · 2008: -34.8pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.6 2016: R+52.4 2012: R+35.4 2008: R+34.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.68%
• Current HPI: 158.6311
• 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

+45.5% since first listed

2 events — show timeline

• 2026-06-01 Listed $104,000 MLSOK
• 2024-10-30 Sold (Public Records) $71,500 Public Records

Property tax history

+13.7%/yr

Latest (2025): $789 · +80.5% YoY. Source: county tax records.