205 Oak St · Elgin, OK 73538

$184,900

4 bd · 2.0 ba · 1,551 sqft · SingleFamily public records · 56 Days on market

Built 1964 7,802 sqft lot Est $244k · 24% under

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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 +23.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +7.7/10.0
• 1% rule +5.8/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nicely updated 4 bed, 1 3/4 bath, located in the heart of Elgin and within walking distance to the school. Updates include flooring, paint, light fixtures, carpet, and updated bathrooms. Roof is only 2yrs old. This home has an extra large living room and a formal dining space with lots cabinetry. Outback is a nice concrete patio and a large shop with electricity. Come see today! * Third-party automated valuations don't account for the added square footage and the shop.

Key facts

• Fresh paint
• Renovated bathrooms
• New flooring

Tags

• NEW FLOORING
• FRESH PAINT
• UPDATED LIGHTING
• RENOVATED BATHROOMS
• CONCRETE PATIO
• LARGE WORKSHOP

Property features AI

Finance

• Other: Lot size approximately 0.1791 acres
• Financial info: Listing accepts Cash, Conventional, FHA or VA; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Utilities: Cable available; Electricity available; Natural gas available; High-speed internet available; Public utilities
• Home design: Single family residence; One story; Residential property; Existing property
• Construction: Brick and frame construction; Vinyl siding; Composition roof; Conventional foundation; Built prior to current listing (existing)
• Exterior features: Covered porch; Workshop; Interior lot

Interior

• Kitchen: Gas range (freestanding); Gas oven (freestanding); Dishwasher; Refrigerator; Disposal
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Laminate; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fans
• Laundry & utility: Inside utility; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.1% in Elgin — 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 73/100 on livability (#17 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Elgin (rural): math 29% / reading 36% proficiency, ranked #38 of 270 in OK (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elgin Es (math 36% / reading 33%, grade F, #168 of 845 statewide, top 24%, 945 students, 0% FRL); Elgin Hs (math 27% / reading 47%, grade F, #42 of 447 statewide, top 10%, 771 students, 0% FRL) — zoned schools average 0% FRL vs 29% district-wide (29 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 95 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: severe 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 $179,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $243,507
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1430 Limestone Way	0.27mi	4/2.0	1,564 (+1%)	0mo	$245,000	$157	86
1206 Hershel Dr	0.18mi	3/2.0 (-1)	1,500 (-3%)	0mo	$240,000	$160	81
1405 NE Limestone Way	0.32mi	3/2.0 (-1)	1,600 (+3%)	7mo	$248,000	$155	69
1404 Limestone Way	0.34mi	4/2.0	1,700 (+10%)	2mo	$267,000	$157	66
1408 Limestone Way	0.35mi	4/2.0	1,700 (+10%)	6mo	$267,000	$157	63
18 NE Summerwood Dr	0.40mi	4/2.0	1,700 (+10%)	3mo	$255,000	$150	63
33 Blue Mdw	0.46mi	4/2.0	1,700 (+10%)	1mo	$255,000	$150	62
508 2nd St	0.45mi	4/2.0	1,700 (+10%)	2mo	$295,000	$174	61
109 Sunny Ln	0.49mi	4/2.0	1,697 (+9%)	4mo	$190,000	$112	58
209 Glover Cir	0.73mi	3/2.0 (-1)	1,500 (-3%)	3mo	$220,000	$147	53
718 5th St	0.30mi	3/2.0 (-1)	1,344 (-13%)	9mo	$226,000	$168	51
220 Glover Cir	0.74mi	4/2.5	1,750 (+13%)	2mo	$256,000	$146	40

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: 30.4%
• Equity multiple: 3.39×
• Total profit: $123,628
• Equity at exit: $166,573

10-year hold

• IRR: 26.3%
• Equity multiple: 7.68×
• Total profit: $346,014
• Equity at exit: $359,220

Cash invested: $51,772 (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 73538

• Home prices YoY: 22.9%
• Active inventory: 95
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,997 high
• Mortgage (P&I): −$970
• Tax from tax record: −$170 /mo · $2,046/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $360

Break-even live

Break-even rent $1,541

Max offer price $184,900

Occupancy floor 77%

Sensitivity live

Price	-10% $465	-5% $412	+0% $360	+5% $308	+10% $255
Rent	-10% $202	-5% $281	+0% $360	+5% $439	+10% $518
Rate	-1.0pp $453	-0.5pp $407	base $360	+0.5pp $312	+1.0pp $263

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Oak St Elgin, OK	4.0	1.0	1300	$1,295	$1.00	12d	1	0.06mi
1205 Alma Dr Elgin, OK	4.0	2.0	1800	$1,900	$1.06	12d	1	0.22mi
1534 Stonehouse Dr Elgin, OK	3.0	2.0	1700	$1,975	$1.16	24d	1	0.24mi
1517 Stonehouse Dr Elgin, OK	4.0	2.0	1565	$1,700	$1.09	22d	1	0.32mi
313 Marilyn Glover Dr Elgin, OK	3.0	2.0	1600	$1,650	$1.03	24d	1	0.79mi
1201 Kensington Ln Elgin, OK	2.0–3.0	2.0–2.5	1414	$1,700	$1.20	24d	1	1.39mi

Listing history 31 events

1. 2026-06-19
   days on market $184,900 Active 56 DOM
2. 2026-06-18
   days on market $184,900 Active 55 DOM
3. 2026-06-17
   days on market $184,900 Active 54 DOM
4. 2026-06-16
   days on market $184,900 Active 53 DOM
5. 2026-06-15
   days on market $184,900 Active 52 DOM
6. 2026-06-14
   days on market $184,900 Active 50 DOM
7. 2026-06-13
   pricedays on market $184,900 Active 49 DOM
8. 2026-06-10
   days on market $189,900 Active 47 DOM
9. 2026-06-09
   days on market $189,900 Active 46 DOM
10. 2026-06-08
    days on market $189,900 Active 45 DOM
11. 2026-06-07
    days on market $189,900 Active 44 DOM
12. 2026-06-05
    days on market $189,900 Active 41 DOM
13. 2026-06-02
    days on market $189,900 Active 39 DOM
14. 2026-06-01
    days on market $189,900 Active 38 DOM
15. 2026-05-31
    days on market $189,900 Active 37 DOM
16. 2026-05-30
    days on market $189,900 Active 36 DOM
17. 2026-04-24
    listed $189,900 Active
18. 2026-03-03
    price $195,000
19. 2026-02-17
    listed $200,000 Active
20. 2024-07-30
    historical $1,500
21. 2024-07-28
    historical $1,500
22. 2024-07-28
    listed $1,500
23. 2024-06-05
    listed
24. 2022-07-27
    soldstatus $170,000
25. 2022-07-22
    soldstatus $170,000 474-char remark

    Show marketing remark (474 chars)

    Nicely updated 4 bed, 1 3/4 bath, located in the heart of Elgin and within walking distance to the school. Updates include flooring, paint, light fixtures, carpet, and updated bathrooms. Roof is only 2yrs old. This home has an extra large living room and a formal dining space with lots cabinetry. Outback is a nice concrete patio and a large shop with electricity. Come see today! * Third-party automated valuations don't account for the added square footage and the shop.

26. 2022-06-14
    listed $170,000 474-char remark

    Show marketing remark (474 chars)

    Nicely updated 4 bed, 1 3/4 bath, located in the heart of Elgin and within walking distance to the school. Updates include flooring, paint, light fixtures, carpet, and updated bathrooms. Roof is only 2yrs old. This home has an extra large living room and a formal dining space with lots cabinetry. Outback is a nice concrete patio and a large shop with electricity. Come see today! * Third-party automated valuations don't account for the added square footage and the shop.

27. 2004-02-09
    soldstatus $63,500
28. 2002-05-06
    soldstatus $51,000
29. 1998-08-10
    soldstatus $55,000
30. 1998-08-06
    soldstatus $55,000
31. 1992-07-15
    soldstatus $36,500

ⓘ 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: $2,046 · $170/mo
• Projected year-2 tax: $2,046 · $170/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $23,958
• − Mortgage interest: −$10,357
• − Property taxes: −$2,046
• − Insurance: −$924
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$5,379
• Taxable income: $1,418
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $3,981/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: Elgin
• NCES district ID: 4010710
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $65,900
• Composite: 29.77/100
• National rank: #6432
• State rank: #38 of 270 in OK

Livability — Elgin

• Score: 73/100
• State rank: #17
• US rank: #5411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, OK
• County: Comanche County · 96,361 people
• City population: 7,128
• Metro: Lawton, OK
• Population (ZIP): 7,128
• Household income: $91,324
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 70.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 13% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 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: ▲ 45.70%
• Current HPI: 245.4249
• Rent YoY: —
• 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

+420.3% since first listed

15 events — show timeline

• 2026-04-24 Listed $189,900 MLSOK
• 2026-03-03 Price Changed $195,000 LBRMLS
• 2026-02-17 Listed $200,000 LBRMLS
• 2024-07-30 Rental Removed $1,500 RENTALBEAST
• 2024-07-28 Rental Removed $1,500 BUILDIUM
• 2024-07-28 Listed for Rent $1,500 RENTALBEAST
• 2024-06-05 Listed for Rent — BUILDIUM
• 2022-07-27 Sold (Public Records) $170,000 Public Records
• 2022-07-22 Sold (MLS) $170,000 LBRMLS
• 2022-06-14 Listed $170,000 LBRMLS
• 2004-02-09 Sold (Public Records) $63,500 Public Records
• 2002-05-06 Sold (Public Records) $51,000 Public Records
• 1998-08-10 Sold (Public Records) $55,000 Public Records
• 1998-08-06 Sold (Public Records) $55,000 Public Records
• 1992-07-15 Sold (Public Records) $36,500 Public Records

Property tax history

+7.2%/yr

Latest (2025): $2,046 · +1.1% YoY. Source: county tax records.