120 S Main St · Hobart, OK 73651

$115,000

4 bd · 2.0 ba · 1,904 sqft · SingleFamily public records · 387 Days on market

Built 1918 7,501 sqft lot Est $86k · 34% over

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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 +29.9/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.4/10.0
• 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

This gorgeous 4-bedroom, 2-bath home has been completely remodeled and is move-in ready! Updates include a new roof, windows, flooring, fresh interior/exterior paint, a newly fenced backyard. Other features include a large sunken den perfect for family gatherings, spacious open kitchen, washer & dryer hookups, covered walkway leading to a metal storage shed with power, large storm cellar, mature trees providing natural shade, updated electric and updated siding, gas heat, a bonus extra lot for outdoor activities or future projects, covered carport for convenient parking, large built-in bookshelf, and ceiling fans in multiple rooms. The home is surrounded by a white picket fence, which

Key facts

• New flooring
• Large sunken den
• New roof

Tags

• NEW ROOF
• NEW WINDOWS
• NEW FLOORING
• NEWLY FENCED BACKYARD
• LARGE SUNKEN DEN
• SPACIOUS OPEN KITCHEN

Property features AI

Finance

• Other: Homestead exempt; Located in the Hobart addition
• Financial info: Assumable: Unknown; Loan qualification: Unknown
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Home design: Single-family residence; Two levels; Residential property; Existing property
• Construction: Vinyl exterior; Composition roof; Combination foundation
• Exterior features: Outbuildings; Interior lot; Outdoor storm shelter

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Floor furnace heating; Window air conditioning units
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $424 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 8.7% in Hobart — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 54 active listings in the ZIP.

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 387 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $115k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 387 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 1918 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.24% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.81%
• DSCR: 1.70
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $85,680
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
127 S Randlett St	0.34mi	4/3.0	1,888 (-1%)	1mo	$85,000	$45	78
305 N Broadway St	0.31mi	4/1.0	1,960 (+3%)	13mo	$50,000	$26	66
601 N Broadway St	0.53mi	3/2.0 (-1)	1,924 (+1%)	8mo	$58,000	$30	62
505 N Hitchcock St	0.64mi	4/2.0	1,923 (+1%)	12mo	$165,000	$86	59
201 N Randlett St	0.37mi	4/2.0	1,786 (-6%)	20mo	$30,666	$17	56
505 N Hill St	0.49mi	3/2.0 (-1)	1,782 (-6%)	8mo	$118,000	$66	55
526 N Hill St	0.51mi	3/2.0 (-1)	1,814 (-5%)	14mo	$90,000	$50	52
525 N Broadway St	0.49mi	3/2.0 (-1)	1,696 (-11%)	19mo	$9,000	$5	38
621 N Lowe St	0.73mi	4/2.0	1,665 (-13%)	21mo	$83,000	$50	28

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: 36.0%
• Equity multiple: 3.78×
• Total profit: $89,609
• Equity at exit: $103,601

10-year hold

• IRR: 31.0%
• Equity multiple: 8.53×
• Total profit: $242,572
• Equity at exit: $223,420

Cash invested: $32,200 (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: 54
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,426 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$52 /mo · $620/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $424

Break-even live

Break-even rent $889

Max offer price $115,000

Occupancy floor 65%

Sensitivity live

Price	-10% $489	-5% $457	+0% $424	+5% $392	+10% $359
Rent	-10% $311	-5% $368	+0% $424	+5% $480	+10% $537
Rate	-1.0pp $482	-0.5pp $453	base $424	+0.5pp $394	+1.0pp $364

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $115,000 Active 387 DOM
2. 2026-06-18
   days on market $115,000 Active 385 DOM
3. 2026-06-17
   days on market $115,000 Active 384 DOM
4. 2026-06-16
   days on market $115,000 Active 383 DOM
5. 2026-06-15
   days on market $115,000 Active 382 DOM
6. 2026-06-13
   days on market $115,000 Active 380 DOM
7. 2026-06-12
   days on market $115,000 Active 379 DOM
8. 2026-06-09
   days on market $115,000 Active 376 DOM
9. 2026-06-08
   days on market $115,000 Active 375 DOM
10. 2026-06-08
    days on market $115,000 Active 374 DOM
11. 2026-06-05
    days on market $115,000 Active 372 DOM
12. 2026-06-04
    days on market $115,000 Active 370 DOM
13. 2026-06-02
    days on market $115,000 Active 369 DOM
14. 2026-06-01
    days on market $115,000 Active 368 DOM
15. 2026-05-31
    days on market $115,000 Active 367 DOM
16. 2025-12-29
    price $115,000
17. 2025-05-29
    listed $130,000 Active
18. 2025-04-08
    historical
19. 2024-10-28
    listed $149,000 Active
20. 2011-02-25
    soldstatus $23,000
21. 1997-06-17
    soldstatus $39,000

ⓘ 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: $620 · $52/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$415/yr (+$35/mo · 66.9%)

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

Taxation est. · year 1

• Rental income: $17,115
• − Mortgage interest: −$6,442
• − Property taxes: −$620
• − Insurance: −$575
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$3,345
• Taxable income: $3,395
• Est. tax owed @ 24.0%: −$815
• After-tax cash flow: $4,275/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

+194.9% since first listed

6 events — show timeline

• 2025-12-29 Price Changed $115,000 MLSOK
• 2025-05-29 Listed $130,000 MLSOK
• 2025-04-08 Listing Removed — MLSOK
• 2024-10-28 Listed $149,000 MLSOK
• 2011-02-25 Sold (Public Records) $23,000 Public Records
• 1997-06-17 Sold (Public Records) $39,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $620 · +5.4% YoY. Source: county tax records.