216 N Hitchcock St · Hobart, OK 73651

$135,000

2 bd · 1.0 ba · 1,202 sqft · SingleFamily public records · 113 Days on market

Built 1930 8,682 sqft lot

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Why this score? — see what drove the D+ 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 +12.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +3.7/10.0
• Livability +2.7/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Selling "AS IS". This comfortable home features recent updates to the kitchen and bathrooms, offering a fresh and inviting atmosphere. Enjoy cozy evenings by the wood-burning stove fireplace or relax under the covered back patio. The spacious backyard includes a separate working well, a shed, and a shop with electricity perfect for hobbies or extra storage. For peace of mind, there’s also a storm cellar on the property. New roof in 2024. Vivint security system included with sale of property along with the washer & dryer and refrigerator.

Key facts

• Spacious backyard
• Covered back patio
• 8,682 sq ft lot

Tags

• RECENT UPDATES TO KITCHEN
• RECENT UPDATES TO BATHROOMS
• WOOD BURNING STOVE FIREPLACE
• COVERED BACK PATIO
• SPACIOUS BACKYARD
• SEPARATE WORKING WELL

Property features AI

Finance

• Other: Occupied; No home warranty; Located in Lambs addition
• Financial info: Seller indicates loans may qualify; not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking surface
• Utilities: Homestead exemption applied
• Home design: Single-family residence; One story; Residential property; Existing property
• Construction: Frame construction with vinyl siding; Composition roof (replaced/updated 2024); Slab foundation
• Exterior features: Covered patio; Covered porch; Outbuildings with workshop; Chain-link fencing; Interior lot; Below-ground storm shelter

Interior

• Bedrooms: 3 bedrooms (all on one level)
• Bathrooms: 2 full bathrooms
• Interior features: One living area; Wood-burning fireplace; No dedicated study; No in-law plan

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-23 ($-270/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (24.0% below list).
• Recommended offer: $103k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 8.3% in Hobart — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 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 $68k; list at $135k implies a 99% 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 $102,608 (24.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $69,716
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
329 N Bailey St	0.16mi	3/2.0 (+1)	1,132 (-6%)	4mo	$70,000	$62	70
325 W Dogwood St	0.38mi	2/1.0	1,246 (+4%)	9mo	$73,000	$59	69
400 N Stephens St	0.20mi	2/1.5	1,123 (-7%)	13mo	$109,500	$98	67
512 N Randlett St	0.29mi	3/1.0 (+1)	1,248 (+4%)	11mo	$115,000	$92	66
229 S Hill St	0.34mi	2/1.0	1,254 (+4%)	15mo	$45,000	$36	65
306 N Hitchcock St	0.08mi	3/1.0 (+1)	1,080 (-10%)	14mo	$37,000	$34	62
302 N Hill St	0.22mi	2/1.0	1,104 (-8%)	20mo	$18,666	$17	59
416 S Hill St	0.48mi	2/1.0	1,188 (-1%)	20mo	$16,666	$14	59
415 N Hitchcock St	0.18mi	3/1.0 (+1)	1,372 (+14%)	6mo	$5,000	$4	58
200 S Pueblo Ave	0.30mi	3/2.0 (+1)	1,232 (+2%)	19mo	$100,000	$81	57
409 S Park Rd	0.49mi	3/1.0 (+1)	1,366 (+14%)	18mo	$79,000	$58	34

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: 23.8%
• Equity multiple: 2.91×
• Total profit: $72,045
• Equity at exit: $121,619

10-year hold

• IRR: 21.1%
• Equity multiple: 6.64×
• Total profit: $213,196
• Equity at exit: $262,275

Cash invested: $37,800 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$69 /mo · $827/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $-23

Break-even live

Break-even rent $1,055

Max offer price $131,022

Occupancy floor 97%

Sensitivity live

Price	-10% $54	-5% $16	+0% $-23	+5% $-61	+10% $-99
Rent	-10% $-104	-5% $-63	+0% $-23	+5% $18	+10% $59
Rate	-1.0pp $45	-0.5pp $12	base $-23	+0.5pp $-58	+1.0pp $-93

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $135,000 Active 113 DOM
2. 2026-06-17
   days on market $135,000 Active 112 DOM
3. 2026-06-16
   days on market $135,000 Active 111 DOM
4. 2026-06-15
   days on market $135,000 Active 110 DOM
5. 2026-06-13
   days on market $135,000 Active 108 DOM
6. 2026-06-12
   days on market $135,000 Active 107 DOM
7. 2026-06-09
   days on market $135,000 Active 104 DOM
8. 2026-06-08
   days on market $135,000 Active 103 DOM
9. 2026-06-08
   days on market $135,000 Active 102 DOM
10. 2026-06-05
    days on market $135,000 Active 100 DOM
11. 2026-06-04
    days on market $135,000 Active 98 DOM
12. 2026-06-02
    days on market $135,000 Active 97 DOM
13. 2026-06-01
    days on market $135,000 Active 96 DOM
14. 2026-05-31
    days on market $135,000 Active 95 DOM
15. 2026-02-25
    listed $135,000 Active
16. 2025-05-07
    historical
17. 2024-11-17
    listed $95,000 Active
18. 2022-06-21
    soldstatus $68,000
19. 1992-09-24
    soldstatus $12,500

ⓘ 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: $827 · $69/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$388/yr (+$32/mo · 46.9%)

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

Taxation est. · year 1

• Rental income: $12,313
• − Mortgage interest: −$7,562
• − Property taxes: −$827
• − Insurance: −$675
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$3,927
• Taxable loss: −$2,648
• Est. tax savings @ 24.0%: +$636
• After-tax cash flow: $365/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

+980.0% since first listed

5 events — show timeline

• 2026-02-25 Listed $135,000 MLSOK
• 2025-05-07 Listing Removed — MLSOK
• 2024-11-17 Listed $95,000 MLSOK
• 2022-06-21 Sold (Public Records) $68,000 Public Records
• 1992-09-24 Sold (Public Records) $12,500 Public Records

Property tax history

+17.0%/yr

Latest (2025): $827 · +5.4% YoY. Source: county tax records.