1020 N Lee St · Altus, OK 73521

$147,500

3 bd · 2.0 ba · 1,491 sqft · SingleFamily public records · 38 Days on market

Built 1970 7,000 sqft lot Est $124k · 19% over

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Why this score? — see what drove the F 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 +14.8/30.0
• DSCR +4.5/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute! Cute! This little home shows great, you open the front door and it seems spacious. Kitchen has a wall of cabinets and space for a trestle dinning table. Laundry room has space. The back area is connected to the house with a covered porch all across the back of the house. The yard is sized just right for get to gathers. A must see!! Use for investment or your own cozy home!

Key facts

• 7,000 sq ft lot
• Garage
• Built 1970

Property features AI

Finance

• Other: Located in the Jones 2nd addition
• Financial info: Accepts Cash, Conventional, FHA/VA, and Rural Housing Services financing; Loan qualification possible; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: No storm shelter; Flood insurance not required
• Home design: Single-family residence; One story; Existing property
• Construction: Brick and frame construction; Composition roof; Post-tension foundation
• Exterior features: Covered porch; Wood fencing; Corner lot

Interior

• Kitchen: Electric range; Free-standing electric oven
• Bedrooms: 3 bedrooms (all on one level)
• Flooring: Laminate; Wood
• Bathrooms: 1 full bathroom
• Interior features: Dishwasher; Refrigerator; Water heater; Laminate and wood flooring; No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $42 ($500/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 $120k (18.8% below list).
• Recommended offer: $120k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 38 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago 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.
• Current owner paid $77k; list at $148k implies a 92% gain — meaningful room to come down on a strong offer.

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 $119,769 (18.8% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 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. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $123,753
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1613 N Lee St	0.49mi	3/2.0	1,500 (+1%)	1mo	$184,000	$123	75
1020 N Willard St	0.08mi	3/1.0	1,373 (-8%)	10mo	$60,000	$44	71
520 N Hudson St	0.37mi	3/2.5	1,500 (+1%)	11mo	$36,849	$25	70
1422 N Hudson St	0.35mi	3/1.5	1,399 (-6%)	5mo	$140,000	$100	67
1419 N Lee St	0.33mi	3/2.0	1,350 (-10%)	12mo	$122,000	$90	59
607 N N Spurgeon St St	0.41mi	3/2.0	1,340 (-10%)	8mo	$84,975	$63	58
1729 N Hudson St	0.60mi	3/2.0	1,607 (+8%)	1mo	$79,900	$50	58
509 W Bradford Ave	0.36mi	3/1.0	1,365 (-8%)	11mo	$113,000	$83	56
1800 Sunset Dr	0.70mi	3/1.5	1,565 (+5%)	6mo	$112,000	$72	52
124 Cameron Dr	0.70mi	3/2.0	1,648 (+10%)	1mo	$170,000	$103	49
1723 N Hollywood Dr	0.75mi	3/1.5	1,430 (-4%)	12mo	$70,000	$49	46
1731 N Crain Dr	0.65mi	3/1.0	1,345 (-10%)	11mo	$157,000	$117	40

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: -14.4%
• Equity multiple: 0.48×
• Total profit: $-21,303
• Equity at exit: $21,993

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-15,349
• Equity at exit: $12,753

Cash invested: $41,300 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,198 medium
• Mortgage (P&I): −$774
• Tax from tax record: −$70 /mo · $835/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $42

Break-even live

Break-even rent $1,145

Max offer price $147,500

Occupancy floor 92%

Sensitivity live

Price	-10% $125	-5% $83	+0% $42	+5% $0	+10% $-42
Rent	-10% $-53	-5% $-6	+0% $42	+5% $89	+10% $136
Rate	-1.0pp $116	-0.5pp $79	base $42	+0.5pp $3	+1.0pp $-35

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-04-25
   status Pending
2. 2026-04-06
   price $147,500
3. 2026-03-23
   status Active
4. 2026-03-12
   status Pending
5. 2026-03-06
   listed $149,999 Active
6. 2022-03-09
   soldstatus $76,850
7. 2022-03-08
   soldstatus $76,850 Sold 383-char remark

   Show marketing remark (383 chars)

   Cute! Cute! This little home shows great, you open the front door and it seems spacious. Kitchen has a wall of cabinets and space for a trestle dinning table. Laundry room has space. The back area is connected to the house with a covered porch all across the back of the house. The yard is sized just right for get to gathers. A must see!! Use for investment or your own cozy home!

8. 2022-01-18
   status Pending 383-char remark

   Show marketing remark (383 chars)

   Cute! Cute! This little home shows great, you open the front door and it seems spacious. Kitchen has a wall of cabinets and space for a trestle dinning table. Laundry room has space. The back area is connected to the house with a covered porch all across the back of the house. The yard is sized just right for get to gathers. A must see!! Use for investment or your own cozy home!

9. 2022-01-11
   price $72,500 383-char remark

   Show marketing remark (383 chars)

   Cute! Cute! This little home shows great, you open the front door and it seems spacious. Kitchen has a wall of cabinets and space for a trestle dinning table. Laundry room has space. The back area is connected to the house with a covered porch all across the back of the house. The yard is sized just right for get to gathers. A must see!! Use for investment or your own cozy home!

10. 2022-01-10
    listed $69,800 Active 383-char remark

    Show marketing remark (383 chars)

    Cute! Cute! This little home shows great, you open the front door and it seems spacious. Kitchen has a wall of cabinets and space for a trestle dinning table. Laundry room has space. The back area is connected to the house with a covered porch all across the back of the house. The yard is sized just right for get to gathers. A must see!! Use for investment or your own cozy home!

11. 2015-07-07
    soldstatus $67,000 528-char remark

    Show marketing remark (528 chars)

    Corner lot property is offering 3 bedrooms, 1 bath & 1 car garage. Kitchen has canned lighting, appliances &built in table & bench. Larger living room also has space for a more formal dining area if needed. Large laundry room is located between garage & kitchen and has access to front yard, garage & backyard. All bedrooms have newer carpet and kitchen & bath have vinyl flooring. 2nd bedroom has large closet, canned lighting & double doors going to backyard. All window coverings and vintage st

12. 2014-12-31
    listed $75,000 528-char remark

    Show marketing remark (528 chars)

    Corner lot property is offering 3 bedrooms, 1 bath & 1 car garage. Kitchen has canned lighting, appliances &built in table & bench. Larger living room also has space for a more formal dining area if needed. Large laundry room is located between garage & kitchen and has access to front yard, garage & backyard. All bedrooms have newer carpet and kitchen & bath have vinyl flooring. 2nd bedroom has large closet, canned lighting & double doors going to backyard. All window coverings and vintage st

13. 2009-08-10
    soldstatus $53,000
14. 2001-09-14
    soldstatus $34,000

ⓘ 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: $835 · $70/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$492/yr (+$41/mo · 59.0%)

ⓘ 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 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: $14,372
• − Mortgage interest: −$8,262
• − Property taxes: −$835
• − Insurance: −$738
• − Repairs & maintenance: −$1,150
• − Management: −$1,150
• − Depreciation: −$4,291
• Taxable loss: −$2,053
• Est. tax savings @ 24.0%: +$493
• After-tax cash flow: $992/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

+333.8% since first listed

14 events — show timeline

• 2026-04-25 Pending — MLSOK
• 2026-04-06 Price Changed $147,500 MLSOK
• 2026-03-23 Relisted — MLSOK
• 2026-03-12 Pending — MLSOK
• 2026-03-06 Listed $149,999 MLSOK
• 2022-03-09 Sold (Public Records) $76,850 Public Records
• 2022-03-08 Sold (MLS) $76,850 MLSOK
• 2022-01-18 Pending — MLSOK
• 2022-01-11 Price Changed $72,500 MLSOK
• 2022-01-10 Listed $69,800 MLSOK
• 2015-07-07 Sold (MLS) $67,000 MLSOK
• 2014-12-31 Listed $75,000 MLSOK
• 2009-08-10 Sold (Public Records) $53,000 Public Records
• 2001-09-14 Sold (Public Records) $34,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $835 · -0.1% YoY. Source: county tax records.