408 S Clark St · Coalgate, OK 74538

$64,500

3 bd · 1.0 ba · 1,062 sqft · SingleFamily · 53 Days on market

Built 1926 Good condition 9,621 sqft lot ↓ 7% since listing

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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
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0

Listing remarks

The most charming three-bedroom, one bathroom home with many recent updates here, including new plumbing, electrical, flooring throughout, kitchen and bathroom updates, paint, fixtures, with a new gas stove, and three new gas zoned heaters. All decor, including the china hutch and chest drawers, should stay if you prefer. Located on a corner lot with mature trees and a shed out back in Coalgate, OK. Only a short 30-minute drive to Ada, or a 45-minute drive to Durant or McAlester.

Key facts

• New plumbing
• Kitchen updates
• New electrical

Tags

• NEW PLUMBING
• NEW ELECTRICAL
• KITCHEN UPDATES
• BATHROOM UPDATES
• NEW GAS STOVE
• NEW GAS ZONED HEATERS

Property features AI

Exterior

• Security: Storm shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Crawlspace foundation
• Construction: Masonite and wood frame construction; Metal roof; Crawlspace foundation; Built (year per public records)
• Exterior features: Covered porch; Storage structure; Storm shelter; Corner lot; Mature trees; Faces south

Interior

• Kitchen: Oven; Range
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Zoned heating
• Interior features: Ceramic counters; Ceiling fan(s); Insulated doors; Storm door(s); Insulated windows; Storm windows; Aluminum and wood window frames; Electric range connection; Gas oven connection; Other interior features
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $64k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#247 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Coalgate (rural): math 20% / reading 30% proficiency, ranked #126 of 270 in OK (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 28 active listings in the ZIP; 8 units permitted in Coal County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($446 loan paydown + $2k appreciation (3.0% local appreciation)).
• Coal County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 4 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.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,565 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1926 — 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. 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?
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: 1.60% ✓
• Cap rate: 13.14%
• Cash-on-cash: 24.44%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $208,152
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17159 County Road 3878 #1840	0.64mi	2/1.0 (-1)	1,148 (+8%)	14mo	$225,000	$196	40

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: 30.6%
• Equity multiple: 2.73×
• Total profit: $31,216
• Equity at exit: $29,002

10-year hold

• IRR: 30.9%
• Equity multiple: 5.34×
• Total profit: $78,321
• Equity at exit: $44,696

Cash invested: $18,060 (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 74538

• Active inventory: 28
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$338
• Tax est. 1.5%: −$81 /mo · $968/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $368

Break-even live

Break-even rent $564

Max offer price $64,500

Occupancy floor 59%

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $64,500 Active 53 DOM
2. 2026-06-17
   days on market $64,500 Active 52 DOM
3. 2026-06-16
   days on market $64,500 Active 51 DOM
4. 2026-06-15
   days on market $64,500 Active 50 DOM
5. 2026-06-13
   days on market $64,500 Active 48 DOM
6. 2026-06-12
   days on market $64,500 Active 47 DOM
7. 2026-06-09
   days on market $64,500 Active 44 DOM
8. 2026-06-08
   days on market $64,500 Active 43 DOM
9. 2026-06-08
   days on market $64,500 Active 42 DOM
10. 2026-06-05
    days on market $64,500 Active 40 DOM
11. 2026-06-04
    days on market $64,500 Active 38 DOM
12. 2026-06-02
    days on market $64,500 Active 37 DOM
13. 2026-06-01
    days on market $64,500 Active 36 DOM
14. 2026-05-31
    days on market $64,500 Active 35 DOM
15. 2026-04-26
    listed $64,500 Active
16. 2026-04-25
    historical
17. 2026-03-06
    price $64,500
18. 2026-02-15
    price $67,500
19. 2026-01-16
    price $67,900
20. 2026-01-05
    price $68,900
21. 2025-10-12
    price $69,900
22. 2025-08-04
    price $72,900
23. 2025-07-03
    price $73,400
24. 2025-04-29
    listed $73,900 Active
25. 2025-03-21
    status Pending
26. 2025-03-21
    historical
27. 2025-03-10
    listed $74,900 Active
28. 2025-03-09
    historical
29. 2024-09-08
    price $74,900
30. 2024-08-08
    price $76,900
31. 2024-03-12
    price $64,500
32. 2024-03-09
    listed $69,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,359
• − Mortgage interest: −$3,613
• − Property taxes: −$968
• − Insurance: −$322
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$1,876
• Taxable income: $3,602
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $3,550/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming three-bedroom home with recent updates is in good condition and ready for a new owner. The exterior could benefit from a fresh coat of paint to enhance curb appeal and resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace ceiling fan — Improves energy efficiency and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace ceiling fan — Improves energy efficiency and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Coalgate
• NCES district ID: 4008130
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $34,406
• Composite: 20.53/100
• National rank: #8565
• State rank: #126 of 270 in OK

Livability — Coalgate

• Score: 62/100
• State rank: #247
• US rank: #16556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coalgate, OK
• Population (ZIP): 3,933

Population outlook (Coal County) Hauer SSP2

• Today (2025): 5,190 people
• By 2030: 4,951 · -4.6%
• By 2040: 4,507 · -13.2%
• By 2050: 4,186 · -19.3%
• By 2075: 4,057 · -21.8%
• By 2100: 4,331 · -16.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 63% Two or more races 25% Native American 9% Hispanic / Latino 5%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Spanish 2% Vietnamese 1%

Political lean MEDSL · Coal

• 2024 margin: Solid R (+71.3) · D 13.6% · R 84.9% · Other 1.5%
• 2008→2024 swing: -24.1pp toward R · 2008: -47.2pp · 2024: -71.3pp
• All cycles: 2024: R+71.3 2020: R+68.0 2016: R+61.9 2012: R+45.0 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-7.2% since first listed

18 events — show timeline

• 2026-04-26 Listed $64,500 MLS Technology, Inc.
• 2026-04-25 Listing Removed — MLS Technology, Inc.
• 2026-03-06 Price Changed $64,500 MLS Technology, Inc.
• 2026-02-15 Price Changed $67,500 MLS Technology, Inc.
• 2026-01-16 Price Changed $67,900 MLS Technology, Inc.
• 2026-01-05 Price Changed $68,900 MLS Technology, Inc.
• 2025-10-12 Price Changed $69,900 MLS Technology, Inc.
• 2025-08-04 Price Changed $72,900 MLS Technology, Inc.
• 2025-07-03 Price Changed $73,400 MLS Technology, Inc.
• 2025-04-29 Listed $73,900 MLS Technology, Inc.
• 2025-03-21 Pending — MLS Technology, Inc.
• 2025-03-21 Listing Removed — MLS Technology, Inc.
• 2025-03-10 Listed $74,900 MLS Technology, Inc.
• 2025-03-09 Listing Removed — MLS Technology, Inc.
• 2024-09-08 Price Changed $74,900 MLS Technology, Inc.
• 2024-08-08 Price Changed $76,900 MLS Technology, Inc.
• 2024-03-12 Price Changed $64,500 MLS Technology, Inc.
• 2024-03-09 Listed $69,500 MLS Technology, Inc.