1137 E Chestnut St · Altus, OK 73521

$65,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 104 Days on market

Built 1950 7,688 sqft lot Est $55k · 18% over ↓ 6% since listing

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

Listing remarks

This super cute 2-bedroom, 1-bath home is move-in ready and full of charm! Located just minutes from the hospital, it’s perfect if you’re looking for convenience and comfort. You’ll love the hardwood floors throughout and the freshly updated bathroom. The exterior has been spruced up too, with new soffit and fascia to give it a clean, polished look. There’s also an attached garage for easy parking or extra storage. One of the best parts? The large, fenced-in backyard—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 solid home in a great spot

Key facts

• Hardwood floors
• Updated bathroom
• 7,688 sq ft lot

Tags

• HARDWOOD FLOORS
• UPDATED BATHROOM
• LARGE FENCED BACKYARD
• NEW SOFFIT AND FASCIA

Property features AI

Finance

• Other: Property listed as Active; Occupied: No; Days on market: 1
• Financial info: Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Homestead not claimed
• Home design: Single family residence; One story; South facing; Residential property
• Construction: Vinyl siding; Composition roof; Conventional foundation; Existing property (not a model)
• Exterior features: Covered porch; Chain link fencing; Lot features: Other

Interior

• Bedrooms: 2 bedrooms (one-level property)
• Bathrooms: 1 full bathroom
• Heating & cooling: Zoned heating; Window unit cooling
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($813 rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 3.7% in Altus — 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 (#151 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Altus (town): math 31% / reading 28% proficiency, ranked #69 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Altus Es (math 27% / reading 17%, grade F, #413 of 845 statewide, top 54%, 408 students, 0% FRL); Altus Hs (math 21% / reading 26%, grade F, #218 of 447 statewide, top 49%, 921 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 167 active listings in the ZIP; 8 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jackson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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

• Watch-outs: built in 1950 — 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 $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.25% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.48%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $55,200
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
925 E Katy Dr	0.24mi	2/1.0	744 (+1%)	9mo	$65,000	$87	79
900 E Katy Dr	0.37mi	2/1.0	739 (+0%)	9mo	$55,500	$75	75
929 E Katy Dr	0.23mi	2/1.0	772 (+5%)	17mo	$12,000	$16	67
1011 E Sutherland St	0.72mi	2/1.0	770 (+5%)	10mo	$55,000	$71	51
1021 E Liveoak St	0.31mi	2/1.0	811 (+10%)	22mo	$64,000	$79	50
518 E Commerce St	0.70mi	3/1.0 (+1)	784 (+6%)	5mo	$35,000	$45	47

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: 7.5%
• Equity multiple: 1.29×
• Total profit: $5,364
• Equity at exit: $9,692

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $25,079
• Equity at exit: $5,620

Cash invested: $18,200 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 167
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $813 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$25 /mo · $296/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $250

Break-even live

Break-even rent $497

Max offer price $65,000

Occupancy floor 64%

Sensitivity live

Price	-10% $287	-5% $268	+0% $250	+5% $232	+10% $213
Rent	-10% $186	-5% $218	+0% $250	+5% $282	+10% $314
Rate	-1.0pp $283	-0.5pp $266	base $250	+0.5pp $233	+1.0pp $216

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $65,000 Active 104 DOM
2. 2026-06-18
   days on market $65,000 Active 102 DOM
3. 2026-06-17
   days on market $65,000 Active 101 DOM
4. 2026-06-16
   days on market $65,000 Active 100 DOM
5. 2026-06-15
   days on market $65,000 Active 99 DOM
6. 2026-06-13
   days on market $65,000 Active 97 DOM
7. 2026-06-12
   days on market $65,000 Active 96 DOM
8. 2026-06-09
   days on market $65,000 Active 93 DOM
9. 2026-06-08
   days on market $65,000 Active 92 DOM
10. 2026-06-08
    days on market $65,000 Active 91 DOM
11. 2026-06-07
    days on market $65,000 Active 90 DOM
12. 2026-06-04
    days on market $65,000 Active 87 DOM
13. 2026-06-02
    days on market $65,000 Active 86 DOM
14. 2026-06-01
    days on market $65,000 Active 85 DOM
15. 2026-05-31
    days on market $65,000 Active 84 DOM
16. 2026-03-08
    listed $65,000 Active
17. 2025-11-24
    historical
18. 2025-05-19
    listed $65,000 Active
19. 2024-03-01
    historical
20. 2023-12-18
    price $68,500
21. 2023-10-03
    listed $69,000 Active

ⓘ 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: $296 · $25/mo
• Projected year-2 tax: $585 · $49/mo
• Expected delta: +$289/yr (+$24/mo · 97.6%)

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $9,761
• − Mortgage interest: −$3,641
• − Property taxes: −$296
• − Insurance: −$325
• − Repairs & maintenance: −$781
• − Management: −$781
• − Depreciation: −$1,891
• Taxable income: $2,046
• Est. tax owed @ 24.0%: −$491
• After-tax cash flow: $2,508/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: Altus
• NCES district ID: 4002850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $40,607
• Composite: 24.91/100
• National rank: #7574
• State rank: #69 of 270 in OK

Livability — Altus

• Score: 65/100
• State rank: #151
• US rank: #13386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altus, OK
• City population: 20,574
• Population (ZIP): 20,352

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 24,084 people
• By 2030: 23,476 · -2.5%
• By 2040: 22,731 · -5.6%
• By 2050: 22,586 · -6.2%
• By 2075: 25,413 · +5.5%
• By 2100: 31,069 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 15% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.3) · D 19.9% · R 78.2% · Other 1.9%
• 2008→2024 swing: -8.7pp toward R · 2008: -49.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.7 2016: R+57.6 2012: R+50.7 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.26%
• Current HPI: 178.7106
• 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

-5.8% since first listed

6 events — show timeline

• 2026-03-08 Listed $65,000 MLSOK
• 2025-11-24 Listing Removed — MLSOK
• 2025-05-19 Listed $65,000 MLSOK
• 2024-03-01 Listing Removed — MLSOK
• 2023-12-18 Price Changed $68,500 MLSOK
• 2023-10-03 Listed $69,000 MLSOK

Property tax history

+2.8%/yr

Latest (2025): $296 · +4.6% YoY. Source: county tax records.