207 W Hillcrest Ln · Hobart, OK 73651

$44,900

3 bd · 2.0 ba · 2,326 sqft · SingleFamily public records · 368 Days on market

Built 1950 0.75 ac lot ↓ 31% since listing

---

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 +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Great House for an Investor . . This home is located in a great location has a fenced in front and back yard . The house sits on 3 lots . House is sold as is but has a lot of potential.

Key facts

• Sits on 3 lots
• 0.75 acre lot
• 2 garage spots

Tags

• FENCED IN FRONT AND BACK YARD
• SITS ON 3 LOTS
• HAS A LOT OF POTENTIAL

Property features AI

Finance

• Financial info: Cash offers only; Assumable loans not available
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete and gravel parking; 2-car garage
• Utilities: Electricity available; Natural gas available; Public utilities; Storm doors and storm windows
• Home design: Single family residence; One level; Residential property
• Construction: Vinyl siding; Composition roof; Built (existing)
• Exterior features: Covered deck; Covered patio; Covered porch; Outbuildings; Chain link fencing; Interior lot

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Interior features: Ceiling fans; Wood-burning fireplace
• Laundry & utility: Post-tension foundation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.3% 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 $5k of equity ($310 loan paydown + $4k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 368 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $21k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 368 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.95% ✓
• Cap rate: 26.26%
• Cash-on-cash: 71.30%
• DSCR: 4.17
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $169,798
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 E Hillcrest Ln	0.03mi	4/2.0 (+1)	2,226 (-4%)	14mo	$130,000	$58	75
204 E Hillcrest Rd	0.18mi	4/2.0 (+1)	2,200 (-5%)	9mo	$159,900	$73	70
430 N Stephens St	0.54mi	3/2.5	2,438 (+5%)	24mo	$144,000	$59	45
605 Terrace Dr	0.46mi	3/3.0	2,631 (+13%)	21mo	$240,000	$91	36

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: 82.1%
• Equity multiple: 6.73×
• Total profit: $72,046
• Equity at exit: $40,449

10-year hold

• IRR: 76.5%
• Equity multiple: 14.90×
• Total profit: $174,777
• Equity at exit: $87,231

Cash invested: $12,572 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,326 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$46 /mo · $554/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $747

Break-even live

Break-even rent $380

Max offer price $44,900

Occupancy floor 39%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $44,900 Active 368 DOM
2. 2026-06-17
   days on market $44,900 Active 367 DOM
3. 2026-06-16
   days on market $44,900 Active 366 DOM
4. 2026-06-15
   days on market $44,900 Active 365 DOM
5. 2026-06-13
   days on market $44,900 Active 363 DOM
6. 2026-06-12
   days on market $44,900 Active 362 DOM
7. 2026-06-09
   days on market $44,900 Active 359 DOM
8. 2026-06-08
   days on market $44,900 Active 358 DOM
9. 2026-06-08
   days on market $44,900 Active 357 DOM
10. 2026-06-05
    days on market $44,900 Active 355 DOM
11. 2026-06-04
    days on market $44,900 Active 353 DOM
12. 2026-06-02
    days on market $44,900 Active 352 DOM
13. 2026-06-01
    days on market $44,900 Active 351 DOM
14. 2026-05-31
    days on market $44,900 Active 350 DOM
15. 2026-04-27
    price $44,900
16. 2026-03-17
    status Active
17. 2026-03-15
    status Pending
18. 2026-02-21
    price $57,500
19. 2025-07-30
    status Active
20. 2025-06-01
    status Pending
21. 2025-04-13
    listed $65,500 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: $554 · $46/mo
• Projected year-2 tax: $554 · $46/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $15,909
• − Mortgage interest: −$2,515
• − Property taxes: −$554
• − Insurance: −$224
• − Repairs & maintenance: −$1,273
• − Management: −$1,273
• − Depreciation: −$1,306
• Taxable income: $8,764
• Est. tax owed @ 24.0%: −$2,103
• After-tax cash flow: $6,861/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

-31.5% since first listed

7 events — show timeline

• 2026-04-27 Price Changed $44,900 MLSOK
• 2026-03-17 Relisted — MLSOK
• 2026-03-15 Pending — MLSOK
• 2026-02-21 Price Changed $57,500 MLSOK
• 2025-07-30 Relisted — MLSOK
• 2025-06-01 Pending — MLSOK
• 2025-04-13 Listed $65,500 MLSOK

Property tax history

-0.8%/yr

Latest (2025): $554 · +30.0% YoY. Source: county tax records.