607 E C St · Arapaho, OK 73620

$92,500

4 bd · 2.0 ba · 1,567 sqft · SingleFamily · 355 Days on market

Built 1930 0.45 ac lot Est $154k · 40% under ↓ 37% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +7.2/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step into the charm of this bungalow from the covered front porch. Large living room open to eat in kitchen. An abundance of kitchen cabinets. The primary bedroom is located on the main level. New cultured marble shower in the main level bath. 3 additional bedrooms are located on the second level. Claw-foot tub in the second-story bath. Covered patio with a large storm shelter under the patio. Carport next to the house, along with a detached 40X60 workshop with an oversized garage door. Located on 3 large lots. Cash or conventional only. No concessions for repairs. Open to offers.

Key facts

• Covered front porch
• Eat in kitchen
• Covered patio

Tags

• COVERED FRONT PORCH
• EAT IN KITCHEN
• CULTURED MARBLE SHOWER
• CLAW FOOT TUB
• COVERED PATIO
• STORM SHELTER

Property features AI

Finance

• Other: Homestead exempt; Property status: Existing
• Financial info: Listing terms: Cash or Conventional
• HOA & community: No mandatory association dues

Exterior

• Parking: Asphalt and concrete parking surfaces; 1-car garage
• Utilities: Electricity available; Natural gas available; Public utilities
• Home design: Two-level single family residence; Residential property; Original addition
• Construction: Vinyl siding; Metal roof (replaced 2022); Slab foundation
• Exterior features: Covered patio; Open patio; Covered porch; Workshop; Below-ground storm shelter; Corner lot; Interior lot

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Ceiling fan(s); Workshop (additional room)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#62 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Arapaho-Butler (rural): math 35% / reading 42% proficiency, ranked #22 of 270 in OK (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Arapaho-Butler Es (math 33% / reading 42%, grade F, #127 of 845 statewide, top 15%, 350 students, 0% FRL); Arapaho-Butler Hs (math 44% / reading 50%, grade D-, #11 of 447 statewide, top 2%, 124 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 2 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($640 loan paydown + $4k appreciation (4.3% local appreciation)).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, 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 355 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $32k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 355 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 1930 — 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 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?
6. 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.
7. 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.
8. 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: 1.48% ✓
• Cap rate: 12.07%
• Cash-on-cash: 20.64%
• DSCR: 1.92
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $153,566
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 S 14th St	0.60mi	3/1.5 (-1)	1,506 (-4%)	1mo	$147,000	$98	58
502 Lacy Ter	0.38mi	4/1.5	1,404 (-10%)	19mo	$110,000	$78	47
1316 D St	0.59mi	3/2.0 (-1)	1,404 (-10%)	4mo	$134,000	$95	46
1221 F St	0.58mi	3/1.5 (-1)	1,450 (-8%)	20mo	$147,500	$102	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.79×
• Total profit: $46,286
• Equity at exit: $48,775

10-year hold

• IRR: 28.8%
• Equity multiple: 5.53×
• Total profit: $117,199
• Equity at exit: $81,311

Cash invested: $25,900 (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 73620

• Home prices YoY: 2.5%
• Active inventory: 2
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,373 medium
• Mortgage (P&I): −$485
• Tax est. 1.5%: −$116 /mo · $1,388/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $445

Break-even live

Break-even rent $809

Max offer price $92,500

Occupancy floor 63%

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-17
   status $92,500 Pending 355 DOM
2. 2026-06-17
   days on market $92,500 Active 355 DOM
3. 2026-06-16
   days on market $92,500 Active 354 DOM
4. 2026-06-15
   days on market $92,500 Active 353 DOM
5. 2026-06-13
   days on market $92,500 Active 351 DOM
6. 2026-06-12
   days on market $92,500 Active 350 DOM
7. 2026-06-09
   days on market $92,500 Active 347 DOM
8. 2026-06-08
   days on market $92,500 Active 346 DOM
9. 2026-06-08
   days on market $92,500 Active 345 DOM
10. 2026-06-07
    days on market $92,500 Active 344 DOM
11. 2026-06-04
    days on market $92,500 Active 341 DOM
12. 2026-06-02
    days on market $92,500 Active 340 DOM
13. 2026-06-01
    days on market $92,500 Active 339 DOM
14. 2026-05-31
    days on market $92,500 Active 338 DOM
15. 2026-04-30
    status Active
16. 2026-04-18
    status Pending
17. 2025-12-04
    price $92,500
18. 2025-09-27
    price $115,000
19. 2025-07-03
    status Active
20. 2025-06-25
    status Pending
21. 2025-06-07
    listed $125,000 Active
22. 2025-06-02
    historical
23. 2025-05-29
    price $125,000
24. 2025-04-08
    price $135,000
25. 2025-03-21
    price $140,000
26. 2025-02-11
    price $143,000
27. 2024-12-04
    listed $147,500 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 4/10 Moderate
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $16,476
• − Mortgage interest: −$5,181
• − Property taxes: −$1,388
• − Insurance: −$462
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − Depreciation: −$2,691
• Taxable income: $4,118
• Est. tax owed @ 24.0%: −$988
• After-tax cash flow: $4,357/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: Arapaho-Butler
• NCES district ID: 4003120
• Math proficiency: 35% ▼ -14.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $49,955
• Composite: 33.22/100
• National rank: #5526
• State rank: #22 of 270 in OK

Livability — Arapaho

• Score: 68/100
• State rank: #62
• US rank: #9334

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arapaho, OK
• Population (ZIP): 1,531

Population outlook (Custer County) Hauer SSP2

• Today (2025): 34,356 people
• By 2030: 37,162 · +8.2%
• By 2040: 43,354 · +26.2%
• By 2050: 50,458 · +46.9%
• By 2075: 71,075 · +106.9%
• By 2100: 91,129 · +165.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 16% Two or more races 8% Native American 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Portuguese 3% Slovak 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 7%

Political lean MEDSL · Custer

• 2024 margin: Solid R (+53.2) · D 22.4% · R 75.7% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: -49.3pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+53.2 2016: R+54.3 2012: R+51.9 2008: R+49.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.34%
• Current HPI: 176.3496
• 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

-37.3% since first listed

13 events — show timeline

• 2026-04-30 Relisted — MLSOK
• 2026-04-18 Pending — MLSOK
• 2025-12-04 Price Changed $92,500 MLSOK
• 2025-09-27 Price Changed $115,000 MLSOK
• 2025-07-03 Relisted — MLSOK
• 2025-06-25 Pending — MLSOK
• 2025-06-07 Listed $125,000 MLSOK
• 2025-06-02 Listing Removed — MLSOK
• 2025-05-29 Price Changed $125,000 MLSOK
• 2025-04-08 Price Changed $135,000 MLSOK
• 2025-03-21 Price Changed $140,000 MLSOK
• 2025-02-11 Price Changed $143,000 MLSOK
• 2024-12-04 Listed $147,500 MLSOK