302 N Hill St · Hobart, OK 73651

$42,000

2 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 13 Days on market

Built 1930 7,000 sqft lot Est $40k · 6% 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 +10.0/10.0
• ARV discount +4.9/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Calling all investors! This home is located right in the heart of Hobart. Currently being rented at $400 a month. This is a package deal consisting of 9 properties. MLS #s : 1118783, 1118781, 1118778, 1118775, 1118774, 1118773, 1118771, 1118765, 1118755. Total price for all 9 properties $220K

Key facts

• Good sized kitchen
• Laundry room
• New flooring

Tags

• CORNER LOT
• LARGE LIVING ROOM
• GOOD SIZED KITCHEN
• LAUNDRY ROOM
• CARPORT
• NEW FLOORING

Property features AI

Finance

• Other: Located in Lambs Hobart addition; Not a model home; Not historically designated; Occupied: No; Directions available
• Financial info: Loan financing available; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Gravel parking; 1-car garage
• Home design: Single family residence; One level; Residential property; Existing property
• Construction: Frame construction; Composition roof; Combination foundation; Built (existing)
• Exterior features: Corner lot; Covered porch

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Inside utility; Covered porch
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $42k).
• Cap rate 20.5% vs local median 8.3% in Hobart — 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 53/100 on livability (#627 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, amenities F, commute F.
• Hobart (town): math 23% / reading 28% proficiency, ranked #110 of 270 in OK (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hobart Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 366 students, 0% FRL); Hobart Hs (math 5% / reading 24%, grade F, #332 of 447 statewide, top 78%, 197 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($290 loan paydown + $4k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $19k; list at $42k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 2.32% ✓
• Cap rate: 20.48%
• Cash-on-cash: 50.66%
• DSCR: 3.25
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $39,744
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 N Hill St	0.00mi	2/1.0	1,104 (0%)	20mo	$18,666	$17	83
306 N Hitchcock St	0.22mi	3/1.0 (+1)	1,080 (-2%)	14mo	$37,000	$34	69
329 N Bailey St	0.33mi	3/2.0 (+1)	1,132 (+2%)	4mo	$70,000	$62	68
400 N Stephens St	0.37mi	2/1.5	1,123 (+2%)	13mo	$109,500	$98	67
325 W Dogwood St	0.26mi	2/1.0	1,246 (+13%)	9mo	$73,000	$59	59
512 N Randlett St	0.21mi	3/1.0 (+1)	1,248 (+13%)	11mo	$115,000	$92	54
229 S Hill St	0.34mi	2/1.0	1,254 (+14%)	15mo	$45,000	$36	49
108 N Hitchcock	0.25mi	2/1.0	956 (-13%)	20mo	$11,666	$12	49
416 S Hill St	0.48mi	2/1.0	1,188 (+8%)	20mo	$16,666	$14	48
109 N Lincoln St	0.46mi	3/1.5 (+1)	1,000 (-9%)	15mo	$13,900	$14	44
109 S Lincoln St	0.49mi	2/1.0	968 (-12%)	20mo	$16,666	$17	40
200 S Pueblo Ave	0.50mi	3/2.0 (+1)	1,232 (+12%)	19mo	$100,000	$81	32

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: 64.2%
• Equity multiple: 5.63×
• Total profit: $54,502
• Equity at exit: $37,837

10-year hold

• IRR: 57.7%
• Equity multiple: 12.53×
• Total profit: $135,639
• Equity at exit: $81,597

Cash invested: $11,760 (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 73651

• Home prices YoY: 8.0%
• Active inventory: 52
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$220
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $497

Break-even live

Break-even rent $346

Max offer price $42,000

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $42,000 Active 13 DOM
2. 2026-06-17
   days on market $42,000 Active 12 DOM
3. 2026-06-16
   days on market $42,000 Active 11 DOM
4. 2026-06-15
   days on market $42,000 Active 10 DOM
5. 2026-06-13
   days on market $42,000 Active 8 DOM
6. 2026-06-12
   remarks 492-char remark
7. 2026-06-12
   days on market $42,000 Active 7 DOM
8. 2026-06-09
   days on market $42,000 Active 4 DOM
9. 2026-06-08
   days on market $42,000 Active 3 DOM
10. 2026-06-08
    remarks 391-char remark
11. 2026-06-08
    listed $42,000 Active 2 DOM

ⓘ 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: $429 · $36/mo
• Projected year-2 tax: $429 · $36/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $11,696
• − Mortgage interest: −$2,353
• − Property taxes: −$429
• − Insurance: −$210
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$1,222
• Taxable income: $5,612
• Est. tax owed @ 24.0%: −$1,347
• After-tax cash flow: $4,611/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: Hobart
• NCES district ID: 4014700
• Math proficiency: 23% ▼ -6.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $36,779
• Composite: 21.2/100
• National rank: #8417
• State rank: #110 of 270 in OK

Livability — Hobart

• Score: 53/100
• State rank: #627
• US rank: #24677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, OK
• City population: 4,070
• Population (ZIP): 4,070

Population outlook (Kiowa County) Hauer SSP2

• Today (2025): 8,842 people
• By 2030: 8,733 · -1.2%
• By 2040: 8,641 · -2.3%
• By 2050: 8,758 · -1.0%
• By 2075: 9,894 · +11.9%
• By 2100: 11,194 · +26.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 10% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 8% Italian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Kiowa

• 2024 margin: Solid R (+58.3) · D 20.1% · R 78.4% · Other 1.6%
• 2008→2024 swing: -23.5pp toward R · 2008: -34.8pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.6 2016: R+52.4 2012: R+35.4 2008: R+34.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.68%
• Current HPI: 158.6311
• 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

+104.9% since first listed

7 events — show timeline

• 2026-06-05 Listed $42,000 MLSOK
• 2024-10-11 Sold (Public Records) $190,000 Public Records
• 2024-10-11 Sold (MLS) $18,666 MLSOK
• 2024-08-18 Pending — MLSOK
• 2024-06-11 Listed $22,000 MLSOK
• 2021-06-14 Sold (Public Records) $33,000 Public Records
• 2002-03-18 Sold (Public Records) $20,500 Public Records

Property tax history

+5.5%/yr

Latest (2025): $429 · +5.9% YoY. Source: county tax records.