203 E Washington · Crescent, OK 73028

$70,000

4 bd · 2.0 ba · 2,568 sqft · SingleFamily public records · 91 Days on market

Built 1940 7,000 sqft lot

---

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
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

Great opportunity property! Located in the growing community of Crescent, this property is ready for a fresh start and offers a fantastic opportunity for investors, flippers, or buyers looking to create their dream home from the ground up. With the right vision and updates, this home could be transformed into a valuable addition to any real estate portfolio or a charming residence tailored to your style.

Key facts

• 7,000 sq ft lot
• Built 1940
• Listed 91 days

Property features AI

Finance

• Other: Property listed as vacant; No home warranty
• Financial info: Listing offered as-is; Cash-only terms noted; Not assumable; Loan qualification not available
• HOA & community: No mandatory association dues

Exterior

• Parking: Gravel parking
• Utilities: Water/sewer/power details not provided
• Home design: Single family residence; Residential property; Two levels; North-facing
• Construction: Brick and frame construction; Composition roof; Slab foundation; Existing property (not new construction)
• Exterior features: No special exterior features reported; Lot described as 'Other'; Homestead eligible

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: No fireplace; No in-law plan reported; One living area; Vacant

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#257 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Crescent (rural): math 22% / reading 25% proficiency, ranked #132 of 270 in OK (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Crescent Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 308 students, 0% FRL); Crescent Hs (math 15% / reading 34%, grade F, #145 of 447 statewide, top 33%, 192 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 active listings in the ZIP; 102 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $466 of equity ($484 loan paydown + $-18 appreciation (-0.0% local appreciation)).
• Logan County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 1940 — 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 $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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: 2.13% ✓
• Cap rate: 18.23%
• Cash-on-cash: 42.63%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $290,184
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 N Fir St	0.58mi	4/3.0	2,387 (-7%)	12mo	$75,000	$31	47
325 S Pine St	0.71mi	3/2.5 (-1)	2,431 (-5%)	11mo	$285,000	$117	42
406 S Pine St	0.73mi	3/2.0 (-1)	2,190 (-15%)	8mo	$248,000	$113	30

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

Projected returns pro-forma

-0.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.8%
• Equity multiple: 3.16×
• Total profit: $42,239
• Equity at exit: $20,236

10-year hold

• IRR: 46.7%
• Equity multiple: 6.26×
• Total profit: $103,066
• Equity at exit: $24,253

Cash invested: $19,600 (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 73028

• Home prices YoY: -0.0%
• Active inventory: 52
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,494 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $696

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 48%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $70,000 Active 91 DOM
2. 2026-06-17
   days on market $70,000 Active 90 DOM
3. 2026-06-16
   days on market $70,000 Active 89 DOM
4. 2026-06-15
   days on market $70,000 Active 88 DOM
5. 2026-06-13
   days on market $70,000 Active 86 DOM
6. 2026-06-09
   days on market $70,000 Active 82 DOM
7. 2026-06-08
   days on market $70,000 Active 81 DOM
8. 2026-06-07
   days on market $70,000 Active 80 DOM
9. 2026-06-05
   days on market $70,000 Active 77 DOM
10. 2026-06-03
    days on market $70,000 Active 76 DOM
11. 2026-06-02
    days on market $70,000 Active 75 DOM
12. 2026-06-01
    days on market $70,000 Active 74 DOM
13. 2026-05-31
    days on market $70,000 Active 73 DOM
14. 2026-03-19
    listed $70,000 Active
15. 2020-08-28
    soldstatus $120,000
16. 2017-12-11
    soldstatus $105,000
17. 2017-03-13
    historical
18. 2016-12-22
    price $129,800
19. 2016-11-12
    price $129,899
20. 2016-11-09
    price $129,900
21. 2016-11-06
    status Active
22. 2016-10-16
    historical
23. 2016-09-11
    listed $138,000 Active
24. 1999-09-16
    soldstatus $40,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,925
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$2,036
• Taxable income: $7,700
• Est. tax owed @ 24.0%: −$1,848
• After-tax cash flow: $6,508/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: Crescent
• NCES district ID: 4009000
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $41,099
• Composite: 19.96/100
• National rank: #8672
• State rank: #132 of 270 in OK

Livability — Crescent

• Score: 62/100
• State rank: #257
• US rank: #16789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crescent, OK
• Population (ZIP): 3,484

Population outlook (Logan County) Hauer SSP2

• Today (2025): 55,683 people
• By 2030: 60,011 · +7.8%
• By 2040: 68,071 · +22.2%
• By 2050: 75,815 · +36.2%
• By 2075: 94,749 · +70.2%
• By 2100: 108,057 · +94.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Native American 6% Hispanic / Latino 4% Black 1%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+49.0) · D 24.4% · R 73.5% · Other 2.1%
• 2008→2024 swing: -11.6pp toward R · 2008: -37.4pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+47.1 2016: R+49.5 2012: R+44.8 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.03%
• Current HPI: 242.5517
• 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

+75.0% since first listed

11 events — show timeline

• 2026-03-19 Listed $70,000 MLSOK
• 2020-08-28 Sold (Public Records) $120,000 Public Records
• 2017-12-11 Sold (Public Records) $105,000 Public Records
• 2017-03-13 Listing Removed — MLSOK
• 2016-12-22 Price Changed $129,800 MLSOK
• 2016-11-12 Price Changed $129,899 MLSOK
• 2016-11-09 Price Changed $129,900 MLSOK
• 2016-11-06 Relisted — MLSOK
• 2016-10-16 Listing Removed — MLSOK
• 2016-09-11 Listed $138,000 MLSOK
• 1999-09-16 Sold (Public Records) $40,000 Public Records

Property tax history

-22.3%/yr

Latest (2025): $26 · -3.7% YoY. Source: county tax records.