422 N Washington Ave · Elk City, OK 73644

$98,000

2 bd · 1.0 ba · 1,150 sqft · SingleFamily public records · 63 Days on market

Built 1927 4,291 sqft lot Est $100k · at est.

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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 +23.3/30.0
• ARV discount +8.4/15.0
• DSCR +7.5/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

Key facts

• Ample counter space
• Covered parking
• Updated interior

Tags

• CORNER LOT
• ABUNDANT STORAGE
• AMPLE COUNTER SPACE
• COVERED PARKING
• UPDATED INTERIOR

Property features AI

Finance

• Other: Located in Elk City OT legal addition; Occupied; Manual geocode/directions available
• Financial info: Financing available: Cash, Conventional, FHA or VA, Rural Housing Services; Loan qualification possible
• HOA & community: No mandatory association dues

Exterior

• Home design: Single-family residence; One story; Existing property; Homestead eligible
• Construction: Brick & frame construction; Composition roof; Conventional foundation; Built (existing)
• Exterior features: Covered porch; Corner lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; No fireplace; No study

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $179 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.1% in Elk City — 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 (#141 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B+; Watch: employment D+, amenities F, commute F.
• Elk City (town): math 14% / reading 15% proficiency, ranked #218 of 270 in OK (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elk City Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 753 students, 0% FRL); Elk City Hs (math 8% / reading 22%, grade F, #332 of 447 statewide, top 78%, 615 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 122 active listings in the ZIP; 16 units permitted in Beckham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Beckham County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 14y 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 $85k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1927 — 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 $92,120 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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. 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: 1.02% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.83%
• DSCR: 1.35
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $100,050
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
422 N Washington Ave	0.00mi	3/1.0 (+1)	1,150 (0%)	1mo	$80,000	$70	94
622 N Boone Ave	0.31mi	2/2.0	1,144 (-0%)	3mo	$100,000	$87	78
1219 Crestview Dr	0.51mi	2/1.0	1,102 (-4%)	4mo	$70,000	$64	66
415 Eisenhower Blvd	0.36mi	3/1.0 (+1)	1,012 (-12%)	1mo	$97,000	$96	58
419 W 8th St	0.55mi	3/2.0 (+1)	1,150 (0%)	14mo	$130,000	$113	54
910 W 1st St	0.41mi	3/2.0 (+1)	1,217 (+6%)	15mo	$130,000	$107	49
620 W 6th St	0.48mi	2/1.0	1,268 (+10%)	14mo	$75,000	$59	49
211 S Boone Ave	0.48mi	3/2.0 (+1)	1,084 (-6%)	15mo	$40,000	$37	47
420 N Howard Ave	0.44mi	3/1.0 (+1)	1,008 (-12%)	10mo	$18,500	$18	45
1401 W 2nd St	0.73mi	2/1.0	986 (-14%)	1mo	$41,000	$42	41
519 N State Ave	0.73mi	3/2.0 (+1)	1,288 (+12%)	2mo	$142,500	$111	35
135 Blackburn Blvd	0.72mi	3/2.0 (+1)	1,302 (+13%)	11mo	$155,000	$119	26

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: -4.4%
• Equity multiple: 0.84×
• Total profit: $-4,496
• Equity at exit: $14,612

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $10,677
• Equity at exit: $8,473

Cash invested: $27,440 (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 73644

• Home prices YoY: -24.0%
• Active inventory: 122
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,003 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$58 /mo · $699/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $179

Break-even live

Break-even rent $776

Max offer price $98,000

Occupancy floor 77%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-04-30
   status Pending
2. 2026-03-19
   price $98,000
3. 2026-03-19
   price $980,000
4. 2026-02-26
   listed $100,000 Active
5. 2025-10-17
   historical
6. 2025-08-06
   price $108,000
7. 2025-07-19
   status Active
8. 2025-07-01
   status Pending
9. 2025-06-17
   price $110,000
10. 2025-06-02
    price $115,000
11. 2025-03-13
    listed $120,000 Active
12. 2024-11-26
    soldstatus $85,000
13. 2024-11-25
    soldstatus $85,000 Closed 489-char remark

    Show marketing remark (489 chars)

    Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

14. 2024-10-28
    status Pending 489-char remark

    Show marketing remark (489 chars)

    Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

15. 2024-07-11
    historical $950
16. 2024-07-01
    price $89,000 489-char remark

    Show marketing remark (489 chars)

    Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

17. 2024-06-25
    listed $950
18. 2024-06-10
    status Active 489-char remark

    Show marketing remark (489 chars)

    Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

19. 2024-05-26
    status Pending 489-char remark

    Show marketing remark (489 chars)

    Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

20. 2024-05-17
    listed $99,000 Active 489-char remark

    Show marketing remark (489 chars)

    Charming Brick Home! This adorable home features 3 beds, 1 full bath, large backyard and a lovely covered front porch. The kitchen features bar seating, updated countertops, window above the kitchen sink, dishwasher, stove & refrigerator. Central heating and air, updated interior paint scheme, large full bath w/ storage and the washer & dryer are included in the sale. Fenced backyard is spacious and has a grill/entertaining area. Don't miss this one! Great investment property.

21. 2024-03-30
    historical
22. 2023-03-29
    listed $99,000 Active
23. 2022-09-02
    historical
24. 2022-07-28
    price $89,900
25. 2022-07-14
    price $94,500
26. 2022-05-18
    listed $99,500 Active
27. 2019-05-06
    soldstatus $42,000
28. 2019-04-02
    listed $60,000
29. 2019-03-26
    historical
30. 2018-03-26
    listed $70,000
31. 2018-03-26
    historical
32. 2017-07-20
    listed $95,000
33. 2017-07-11
    historical
34. 2016-07-09
    listed $74,900
35. 2016-07-08
    historical
36. 2015-12-10
    listed $88,000
37. 2015-02-10
    soldstatus $93,000
38. 2012-12-17
    soldstatus $89,000
39. 2012-12-06
    soldstatus $89,000
40. 2012-09-04
    listed $89,000
41. 2011-01-15
    soldstatus $41,000
42. 1995-01-23
    soldstatus $18,000

ⓘ 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: $699 · $58/mo
• Projected year-2 tax: $882 · $73/mo
• Expected delta: +$183/yr (+$15/mo · 26.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $12,032
• − Mortgage interest: −$5,490
• − Property taxes: −$699
• − Insurance: −$490
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$2,851
• Taxable income: $578
• Est. tax owed @ 24.0%: −$139
• After-tax cash flow: $2,011/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: Elk City
• NCES district ID: 4010740
• Math proficiency: 14% ▼ -11.00%
• Reading proficiency: 15% ▼ -14.00%
• Median HH income: $49,040
• Composite: 13.26/100
• National rank: #9547
• State rank: #218 of 270 in OK

Livability — Elk City

• Score: 65/100
• State rank: #141
• US rank: #13090

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elk City, OK
• City population: 13,687
• Population (ZIP): 13,687

Population outlook (Beckham County) Hauer SSP2

• Today (2025): 26,564 people
• By 2030: 28,217 · +6.2%
• By 2040: 31,865 · +20.0%
• By 2050: 35,862 · +35.0%
• By 2075: 47,189 · +77.6%
• By 2100: 55,622 · +109.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 15% Two or more races 6% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 2% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Beckham

• 2024 margin: Solid R (+70.1) · D 14.2% · R 84.3% · Other 1.4%
• 2008→2024 swing: -14.0pp toward R · 2008: -56.1pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+72.0 2016: R+70.8 2012: R+59.1 2008: R+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.11%
• Current HPI: 178.0217
• 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

+444.4% since first listed

42 events — show timeline

• 2026-04-30 Pending — MLSOK
• 2026-03-19 Price Changed $98,000 MLSOK
• 2026-03-19 Price Changed $980,000 MLSOK
• 2026-02-26 Listed $100,000 MLSOK
• 2025-10-17 Listing Removed — MLSOK
• 2025-08-06 Price Changed $108,000 MLSOK
• 2025-07-19 Relisted — MLSOK
• 2025-07-01 Pending — MLSOK
• 2025-06-17 Price Changed $110,000 MLSOK
• 2025-06-02 Price Changed $115,000 MLSOK
• 2025-03-13 Listed $120,000 MLSOK
• 2024-11-26 Sold (Public Records) $85,000 Public Records
• 2024-11-25 Sold (MLS) $85,000 MLSOK
• 2024-10-28 Pending — MLSOK
• 2024-07-11 Rental Removed $950 MLSOK
• 2024-07-01 Price Changed $89,000 MLSOK
• 2024-06-25 Listed for Rent $950 MLSOK
• 2024-06-10 Relisted — MLSOK
• 2024-05-26 Pending — MLSOK
• 2024-05-17 Listed $99,000 MLSOK
• 2024-03-30 Listing Removed — MLSOK
• 2023-03-29 Listed $99,000 MLSOK
• 2022-09-02 Listing Removed — MLSOK
• 2022-07-28 Price Changed $89,900 MLSOK
• 2022-07-14 Price Changed $94,500 MLSOK
• 2022-05-18 Listed $99,500 MLSOK
• 2019-05-06 Sold (MLS) $42,000 MLSOK
• 2019-04-02 Listed $60,000 MLSOK
• 2019-03-26 Listing Removed — MLSOK
• 2018-03-26 Listing Removed — MLSOK
• 2018-03-26 Listed $70,000 MLSOK
• 2017-07-20 Listed $95,000 MLSOK
• 2017-07-11 Listing Removed — MLSOK
• 2016-07-09 Listed $74,900 MLSOK
• 2016-07-08 Listing Removed — MLSOK
• 2015-12-10 Listed $88,000 MLSOK
• 2015-02-10 Sold (Public Records) $93,000 Public Records
• 2012-12-17 Sold (Public Records) $89,000 Public Records
• 2012-12-06 Sold (MLS) $89,000 MLSOK
• 2012-09-04 Listed $89,000 MLSOK
• 2011-01-15 Sold (Public Records) $41,000 Public Records
• 1995-01-23 Sold (Public Records) $18,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $699 · -1.5% YoY. Source: county tax records.