109 S Lincoln St · Hobart, OK 73651

$55,000

2 bd · 1.0 ba · 968 sqft · SingleFamily public records · 13 Days on market

Built 1960 7,501 sqft lot

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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 +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 MLS

Calling all investors! This home is located right in the heart of Hobart. Currently being rented at $375 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

• Large picture window
• Metal building
• 7,501 sq ft lot

Tags

• LARGE PICTURE WINDOW
• LARGE FENCED BACK YARD
• GOOD SIZED LAUNDRY ROOM
• METAL BUILDING

Property features AI

Finance

• Other: Located in ORIG HOBART addition; Homestead not claimed
• Financial info: Loan qualification possible; Property not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Home design: Single family residence; Residential property; One story; Entry level: One; Existing property
• Construction: Frame construction with vinyl siding; Composition roof; Combination foundation; Built (existing)
• Exterior features: Covered porch; Porch; Barn(s); Outbuildings; Storage; Chain link fencing; Interior lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Zoned heating
• Interior features: One-level living; Living area; Dining area; No fireplace; No study

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($877 rent vs $55k).
• Cap rate 13.9% 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 $6k of equity ($380 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k 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 $17k; list at $55k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1960 — 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: 1.59% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.29%
• DSCR: 2.21
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $16,456
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 S Lincoln St	0.00mi	2/1.0	968 (0%)	20mo	$16,666	$17	83
109 N Lincoln St	0.05mi	3/1.5 (+1)	1,000 (+3%)	15mo	$13,900	$14	73
315 N Main St	0.33mi	2/1.0	896 (-7%)	9mo	$96,500	$108	65
108 N Hitchcock	0.66mi	2/1.0	956 (-1%)	20mo	$11,666	$12	50
720 W Iris	0.72mi	2/1.0	886 (-8%)	12mo	$48,500	$55	42
302 N Hill St	0.49mi	2/1.0	1,104 (+14%)	20mo	$18,666	$17	37
306 N Hitchcock St	0.69mi	3/1.0 (+1)	1,080 (+12%)	14mo	$37,000	$34	31

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: 44.9%
• Equity multiple: 4.39×
• Total profit: $52,248
• Equity at exit: $49,548

10-year hold

• IRR: 38.9%
• Equity multiple: 9.85×
• Total profit: $136,302
• Equity at exit: $106,853

Cash invested: $15,400 (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: 5.2×

Monthly cashflow live

• Estimated rent: $877 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$31 /mo · $371/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $350

Break-even live

Break-even rent $433

Max offer price $55,000

Occupancy floor 55%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $55,000 Active 13 DOM
2. 2026-06-17
   days on market $55,000 Active 12 DOM
3. 2026-06-16
   days on market $55,000 Active 11 DOM
4. 2026-06-15
   days on market $55,000 Active 10 DOM
5. 2026-06-13
   days on market $55,000 Active 8 DOM
6. 2026-06-12
   remarks 595-char remark
7. 2026-06-12
   days on market $55,000 Active 7 DOM
8. 2026-06-09
   days on market $55,000 Active 4 DOM
9. 2026-06-08
   days on market $55,000 Active 3 DOM
10. 2026-06-08
    remarks 467-char remark
11. 2026-06-08
    listed $55,000 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: $371 · $31/mo
• Projected year-2 tax: $495 · $41/mo
• Expected delta: +$124/yr (+$10/mo · 33.4%)

ⓘ 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 · 17 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: $10,518
• − Mortgage interest: −$3,081
• − Property taxes: −$371
• − Insurance: −$275
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$1,600
• Taxable income: $3,508
• Est. tax owed @ 24.0%: −$842
• After-tax cash flow: $3,360/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

+31.0% since first listed

6 events — show timeline

• 2026-06-05 Listed $55,000 MLSOK
• 2024-10-11 Sold (Public Records) $190,000 Public Records
• 2024-10-11 Sold (MLS) $16,666 MLSOK
• 2024-08-18 Pending — MLSOK
• 2024-06-11 Listed $20,000 MLSOK
• 1995-02-15 Sold (Public Records) $42,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $371 · +51.4% YoY. Source: county tax records.