705 E Cleveland St · Mangum, OK 73554

$43,000

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 178 Days on market

Built 1940 0.26 ac lot ↓ 17% 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 +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

2 bedroom, 1 bathroom home on a huge cornet lot. The Living Room, Primary Bedroom and Office have newer laminate flooring. Kitchen/Dining is large and features a stainless steel gas stove/oven, dishwasher and wood cabinets. The Kitchen/Dining open to the Office. The Primary Bedroom is large. The attached the garage also has an area for storage or workspace. The house is on a very large corner lot. There is a fence area attached to the home for a dog. Great neighborhood!

Key facts

• Large corner lot
• Attached garage
• Inside laundry room

Tags

• LARGE CORNER LOT
• STAINLESS STEEL APPLIANCES
• INSIDE LAUNDRY ROOM
• ATTACHED GARAGE
• FENCED FOR DOG RUN

Property features AI

Finance

• Other: Corner lot in the Johnson addition; No storm shelter; Directions: North on Louis Tittle, East on Cleveland; Occupied: No; Active listing
• Financial info: Listing offered as-is; financing options include cash and conventional; Loan qualification allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Assessor-listed living area 840 (source: Assessor)
• Home design: Single-family residence; One level; Residential property; Existing construction
• Construction: Frame construction; Composition roof; Combination foundation; Built (existing)
• Exterior features: Covered porch; Corner lot

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; Window unit cooling
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($845 rent vs $43k).
• Recommended offer: $38k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 7.6% in Mangum — 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 (#144 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Mangum (town): math 27% / reading 28% proficiency, ranked #89 of 270 in OK (top 33%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Edison Es (math 47% / reading 32%, grade F, #107 of 845 statewide, top 14%, 239 students, 0% FRL); Mangum Ms (math 20% / reading 28%, grade F, #109 of 345 statewide, top 32%, 156 students, 0% FRL); Mangum Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 175 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 46 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.5%/yr); year-one equity from $297 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Greer County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.5% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $37,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.97% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.17%
• DSCR: 2.83
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $17,640
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 N Dakota Ave	0.04mi	2/1.0	912 (+9%)	3mo	$10,000	$11	81
602 N Louis Tittle Ave	0.42mi	2/1.0	910 (+8%)	8mo	$65,000	$71	60
509 E Cleveland St	0.09mi	2/1.0	728 (-13%)	21mo	$15,000	$21	56
703 N Georgia Ave	0.45mi	2/1.0	948 (+13%)	15mo	$12,000	$13	45

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

Projected returns pro-forma

-2.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 2.69×
• Total profit: $20,312
• Equity at exit: $7,461

10-year hold

• IRR: 44.4%
• Equity multiple: 5.35×
• Total profit: $52,366
• Equity at exit: $5,546

Cash invested: $12,040 (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 73554

• Home prices YoY: -2.7%
• Active inventory: 46
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $845 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$11 /mo · $136/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $413

Break-even live

Break-even rent $322

Max offer price $43,000

Occupancy floor 46%

Sensitivity live

Price	-10% $437	-5% $425	+0% $413	+5% $401	+10% $389
Rent	-10% $346	-5% $380	+0% $413	+5% $446	+10% $480
Rate	-1.0pp $435	-0.5pp $424	base $413	+0.5pp $402	+1.0pp $391

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-07
   statusdays on market $43,000 Pending 178 DOM
2. 2026-06-04
   days on market $43,000 Active 177 DOM
3. 2026-06-02
   days on market $43,000 Active 176 DOM
4. 2026-06-01
   days on market $43,000 Active 175 DOM
5. 2026-05-31
   days on market $43,000 Active 174 DOM
6. 2026-05-09
   price $43,000
7. 2025-12-07
   listed $48,000 Active
8. 2025-10-11
   historical
9. 2025-07-02
   price $60,000
10. 2025-04-30
    listed $63,000 Active
11. 2022-07-18
    soldstatus $53,000
12. 2022-07-14
    soldstatus $53,000 Sold 474-char remark

    Show marketing remark (474 chars)

    2 bedroom, 1 bathroom home on a huge cornet lot. The Living Room, Primary Bedroom and Office have newer laminate flooring. Kitchen/Dining is large and features a stainless steel gas stove/oven, dishwasher and wood cabinets. The Kitchen/Dining open to the Office. The Primary Bedroom is large. The attached the garage also has an area for storage or workspace. The house is on a very large corner lot. There is a fence area attached to the home for a dog. Great neighborhood!

13. 2022-06-21
    status Pending 474-char remark

    Show marketing remark (474 chars)

    2 bedroom, 1 bathroom home on a huge cornet lot. The Living Room, Primary Bedroom and Office have newer laminate flooring. Kitchen/Dining is large and features a stainless steel gas stove/oven, dishwasher and wood cabinets. The Kitchen/Dining open to the Office. The Primary Bedroom is large. The attached the garage also has an area for storage or workspace. The house is on a very large corner lot. There is a fence area attached to the home for a dog. Great neighborhood!

14. 2022-06-19
    listed $52,000 Active 474-char remark

    Show marketing remark (474 chars)

    2 bedroom, 1 bathroom home on a huge cornet lot. The Living Room, Primary Bedroom and Office have newer laminate flooring. Kitchen/Dining is large and features a stainless steel gas stove/oven, dishwasher and wood cabinets. The Kitchen/Dining open to the Office. The Primary Bedroom is large. The attached the garage also has an area for storage or workspace. The house is on a very large corner lot. There is a fence area attached to the home for a dog. Great neighborhood!

ⓘ 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: $136 · $11/mo
• Projected year-2 tax: $387 · $32/mo
• Expected delta: +$251/yr (+$21/mo · 184.6%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $10,143
• − Mortgage interest: −$2,409
• − Property taxes: −$136
• − Insurance: −$215
• − Repairs & maintenance: −$811
• − Management: −$811
• − Depreciation: −$1,251
• Taxable income: $4,510
• Est. tax owed @ 24.0%: −$1,082
• After-tax cash flow: $3,874/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: Mangum
• NCES district ID: 4018780
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $36,568
• Composite: 22.85/100
• National rank: #8012
• State rank: #89 of 270 in OK

Livability — Mangum

• Score: 65/100
• State rank: #144
• US rank: #13248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mangum, OK
• Population (ZIP): 3,361

Population outlook (Greer County) Hauer SSP2

• Today (2025): 5,904 people
• By 2030: 5,869 · -0.6%
• By 2040: 5,790 · -1.9%
• By 2050: 5,712 · -3.3%
• By 2075: 5,196 · -12.0%
• By 2100: 4,326 · -26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 8% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 1% · China, Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Greer

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.1%
• 2008→2024 swing: -19.3pp toward R · 2008: -46.5pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+64.7 2016: R+61.1 2012: R+46.7 2008: R+46.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.45%
• Current HPI: 88.9252
• 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

-17.3% since first listed

9 events — show timeline

• 2026-05-09 Price Changed $43,000 MLSOK
• 2025-12-07 Listed $48,000 MLSOK
• 2025-10-11 Listing Removed — MLSOK
• 2025-07-02 Price Changed $60,000 MLSOK
• 2025-04-30 Listed $63,000 MLSOK
• 2022-07-18 Sold (Public Records) $53,000 Public Records
• 2022-07-14 Sold (MLS) $53,000 MLSOK
• 2022-06-21 Pending — MLSOK
• 2022-06-19 Listed $52,000 MLSOK

Property tax history

+3.8%/yr

Latest (2025): $136 · +3.0% YoY. Source: county tax records.