203 NW Morford Dr · Lawton, OK 73507

$99,500

3 bd · 2.0 ba · 1,164 sqft · SingleFamily public records · 65 Days on market

Built 1950 8,400 sqft lot Est $97k · at est.

---

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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +6.8/10.0
• ARV discount +6.2/15.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Great Re-do. New paint, flooring, appliances. Situated on a large corner lot. Also has a workshop.

Key facts

• Large corner lot
• Workshop
• 8,400 sq ft lot

Tags

• LARGE CORNER LOT
• WORKSHOP

Property features AI

Exterior

• Parking: No garage (converted garage)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One story; Residential property
• Construction: Brick veneer construction; Composition roof
• Exterior features: Covered porch; Corner lot; Chain link and wood fencing; Workshop

Interior

• Kitchen: Cooktop, Oven, Microwave, Dishwasher, Range Hood
• Flooring: Vinyl flooring; Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans; Electric cooling components
• Interior features: Cooktop, Oven, Microwave, Dishwasher, Range Hood, Gas water heater; Crawl space foundation
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 6.1% in Lawton — 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 63/100 on livability (#206 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, commute F.
• Lawton (urban): math 20% / reading 26% proficiency, ranked #137 of 270 in OK (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Whittier Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 351 students, 0% FRL); Lawton Hs (math 16% / reading 21%, grade F, #302 of 447 statewide, top 68%, 1,417 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 208 active listings in the ZIP; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($94k) 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 $34k; list at $100k implies a 193% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1950 — 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 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?
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: 1.18% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.61%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $96,612
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1416 NW Bell Ave	0.48mi	3/2.0	1,200 (+3%)	3mo	$119,900	$100	70
1742 NW Ash Ave	0.39mi	3/1.0	1,200 (+3%)	6mo	$100,000	$83	68
1410 NW Columbia Ave	0.51mi	3/2.0	1,200 (+3%)	5mo	$108,000	$90	67
1605 NW Columbia Ave	0.37mi	2/1.0 (-1)	1,100 (-6%)	1mo	$73,800	$67	64
1703 NW Euclid Ave	0.41mi	3/2.0	1,300 (+12%)	2mo	$42,000	$32	60
1722 NW Liberty Ave	0.61mi	3/3.0	1,200 (+3%)	3mo	$135,000	$113	60
732 NW 16th St	0.64mi	2/1.0 (-1)	1,200 (+3%)	3mo	$99,000	$83	54
701 NW 22nd St	0.38mi	2/1.0 (-1)	1,000 (-14%)	1mo	$49,200	$49	49
2614 NW Bell Ave	0.53mi	3/1.5	1,000 (-14%)	2mo	$54,500	$55	48
1339 NW Ferris	0.54mi	3/2.0	1,000 (-14%)	4mo	$75,900	$76	48
2915 NW Euclid	0.67mi	3/1.0	1,000 (-14%)	0mo	$131,000	$131	41
1404 SW C Ave	0.70mi	3/1.0	1,000 (-14%)	3mo	$92,500	$93	37

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 · 0.25% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $808
• Equity at exit: $14,836

10-year hold

• IRR: 7.6%
• Equity multiple: 1.51×
• Total profit: $14,199
• Equity at exit: $8,603

Cash invested: $27,860 (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 73507

• Home prices YoY: -23.2%
• Rents YoY: 0.2%
• Active inventory: 208
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,177 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $316

Break-even live

Break-even rent $777

Max offer price $99,500

Occupancy floor 68%

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $99,500 Active 65 DOM
2. 2026-06-18
   days on market $99,500 Active 64 DOM
3. 2026-06-17
   days on market $99,500 Active 63 DOM
4. 2026-06-16
   days on market $99,500 Active 62 DOM
5. 2026-06-15
   days on market $99,500 Active 61 DOM
6. 2026-06-14
   days on market $99,500 Active 59 DOM
7. 2026-06-13
   days on market $99,500 Active 58 DOM
8. 2026-06-10
   days on market $99,500 Active 56 DOM
9. 2026-06-09
   days on market $99,500 Active 55 DOM
10. 2026-06-08
    days on market $99,500 Active 54 DOM
11. 2026-06-07
    days on market $99,500 Active 53 DOM
12. 2026-06-05
    days on market $99,500 Active 50 DOM
13. 2026-06-03
    days on market $99,500 Active 49 DOM
14. 2026-06-02
    pricedays on market $99,500 Active 48 DOM
15. 2026-06-01
    days on market $103,950 Active 47 DOM
16. 2026-05-31
    days on market $103,950 Active 46 DOM
17. 2026-05-30
    days on market $103,950 Active 45 DOM
18. 2026-04-14
    listed $103,950 Active
19. 2026-03-26
    price $103,950
20. 2026-03-20
    price $105,500
21. 2026-01-23
    price $117,500
22. 2025-12-19
    listed $119,500 Active
23. 2025-04-25
    historical Active Under Contract
24. 2025-04-15
    listed $60,000 Active
25. 2015-03-24
    soldstatus $34,000
26. 2015-03-23
    soldstatus $34,000
27. 2014-08-29
    listed $37,000
28. 1992-12-15
    soldstatus $40,000

ⓘ 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: $607 · $51/mo
• Projected year-2 tax: $895 · $75/mo
• Expected delta: +$288/yr (+$24/mo · 47.5%)

ⓘ 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 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $14,124
• − Mortgage interest: −$5,574
• − Property taxes: −$607
• − Insurance: −$498
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$2,895
• Taxable income: $2,292
• Est. tax owed @ 24.0%: −$550
• After-tax cash flow: $3,242/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: Lawton
• NCES district ID: 4017250
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $42,618
• Composite: 19.68/100
• National rank: #8732
• State rank: #137 of 270 in OK

Livability — Lawton

• Score: 63/100
• State rank: #206
• US rank: #15131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawton, OK
• County: Comanche County · 96,361 people
• City population: 89,233
• Metro: Lawton, OK
• Population (ZIP): 21,046
• Household income: $62,132
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 979.0

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 124,518 people
• By 2030: 124,231 · -0.2%
• By 2040: 122,193 · -1.9%
• By 2050: 120,368 · -3.3%
• By 2075: 120,492 · -3.2%
• By 2100: 123,113 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 56% Hispanic / Latino 14% Two or more races 13% Black 13% Native American 7% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 6% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Comanche

• 2024 margin: Strong R (+23.3) · D 37.4% · R 60.7% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -17.5pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+20.1 2016: R+23.7 2012: R+17.0 2008: R+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.48%
• Current HPI: 127.057
• Rent YoY: ▲ 0.25%
• Metro: Lawton, OK
• 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

+159.9% since first listed

11 events — show timeline

• 2026-04-14 Listed $103,950 LBRMLS
• 2026-03-26 Price Changed $103,950 LBRMLS
• 2026-03-20 Price Changed $105,500 LBRMLS
• 2026-01-23 Price Changed $117,500 LBRMLS
• 2025-12-19 Listed $119,500 LBRMLS
• 2025-04-25 Contingent — LBRMLS
• 2025-04-15 Listed $60,000 LBRMLS
• 2015-03-24 Sold (Public Records) $34,000 Public Records
• 2015-03-23 Sold (MLS) $34,000 LBRMLS
• 2014-08-29 Listed $37,000 LBRMLS
• 1992-12-15 Sold (Public Records) $40,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $607 · +4.7% YoY. Source: county tax records.