121 W 3rd St · Fargo, OK 73840

$45,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 66 Days on market

Built 1965 0.32 ac lot Est $33k · 36% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

This 3 bedroom 1 bath house is ready for your imagination. Be inspired to make it however you want! One of the best parts? The home sits on 2 lots with plenty of room for pets, gardening, or weekend BBQs. It’s a great fit for first-time buyers, small families, investment property, or anyone looking for a home to bring to life!

Key facts

• Room for pets
• Gardening
• 2 lots

Tags

• 2 LOTS
• ROOM FOR PETS
• GARDENING
• WEEKEND BBQS

Property features AI

Finance

• Other: Located in Original-F addition; Not a historical designation; No storm shelter; Occupied
• Financial info: Financing available: Cash, Conventional, FHA/VA, Rural Housing Services; Assumable loans: No; Loan qualification: Yes; Current taxes reported
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One level; Residential property; Existing property
• Construction: Frame construction with vinyl siding; Composition roof; Slab foundation; Built (existing)
• Exterior features: Combination fencing; Infill lot

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#268 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime F.
• Fargo (rural): math 25% / reading 25% proficiency, ranked #320 of 513 in OK (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fargo Es (math 27% / reading 27%, grade F, #311 of 845 statewide, top 40%, 149 students, 0% FRL); Fargo Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 73 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $1k appreciation (3.2% local appreciation)).
• Ellis County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1965 — 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 F 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: 2.45% ✓
• Cap rate: 21.36%
• Cash-on-cash: 53.82%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $32,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 S Elm St	0.05mi	2/1.0 (-1)	972 (-9%)	20mo	$30,000	$31	62

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

Projected returns pro-forma

3.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.1%
• Equity multiple: 4.33×
• Total profit: $41,989
• Equity at exit: $20,833

10-year hold

• IRR: 58.5%
• Equity multiple: 8.81×
• Total profit: $98,369
• Equity at exit: $32,579

Cash invested: $12,600 (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 73840

• Home prices YoY: 2.3%
• Active inventory: 3
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$51 /mo · $611/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $565

Break-even live

Break-even rent $387

Max offer price $45,000

Occupancy floor 44%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $45,000 Active 66 DOM
2. 2026-06-17
   days on market $45,000 Active 65 DOM
3. 2026-06-16
   days on market $45,000 Active 64 DOM
4. 2026-06-15
   days on market $45,000 Active 63 DOM
5. 2026-06-14
   price $45,000 Active 61 DOM
6. 2026-06-13
   days on market $50,000 Active 61 DOM
7. 2026-06-12
   days on market $50,000 Active 60 DOM
8. 2026-06-09
   days on market $50,000 Active 57 DOM
9. 2026-06-08
   days on market $50,000 Active 56 DOM
10. 2026-06-08
    days on market $50,000 Active 55 DOM
11. 2026-06-05
    days on market $50,000 Active 53 DOM
12. 2026-06-04
    days on market $50,000 Active 51 DOM
13. 2026-06-02
    days on market $50,000 Active 50 DOM
14. 2026-06-01
    days on market $50,000 Active 49 DOM
15. 2026-05-31
    days on market $50,000 Active 48 DOM
16. 2026-05-13
    price $50,000
17. 2026-04-13
    listed $60,000 Active
18. 2012-04-05
    soldstatus $35,000
19. 1994-04-28
    soldstatus $15,000

ⓘ 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: $611 · $51/mo
• Projected year-2 tax: $611 · $51/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,227
• − Mortgage interest: −$2,521
• − Property taxes: −$611
• − Insurance: −$225
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$1,309
• Taxable income: $6,445
• Est. tax owed @ 24.0%: −$1,547
• After-tax cash flow: $5,235/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: Fargo
• NCES district ID: 4011430
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 25% ▼ -15.00%
• Median HH income: $51,652
• Composite: 25.25/100
• National rank: #12909
• State rank: #320 of 513 in OK

Livability — Fargo

• Score: 62/100
• State rank: #268
• US rank: #17092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, OK
• Population (ZIP): 464

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 4,446 people
• By 2030: 4,549 · +2.3%
• By 2040: 4,757 · +7.0%
• By 2050: 4,978 · +12.0%
• By 2075: 5,455 · +22.7%
• By 2100: 5,346 · +20.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 24% Two or more races 16% Native American 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Lithuanian 6% Iranian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+76.6) · D 10.9% · R 87.5% · Other 1.7%
• 2008→2024 swing: -6.1pp toward R · 2008: -70.5pp · 2024: -76.6pp
• All cycles: 2024: R+76.6 2020: R+81.5 2016: R+79.7 2012: R+74.9 2008: R+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.24%
• Current HPI: 145.6422
• 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

+233.3% since first listed

4 events — show timeline

• 2026-05-13 Price Changed $50,000 MLSOK
• 2026-04-13 Listed $60,000 MLSOK
• 2012-04-05 Sold (Public Records) $35,000 Public Records
• 1994-04-28 Sold (Public Records) $15,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $611 · +11.3% YoY. Source: county tax records.