17244 Lake Hwy · Phillips, OK 74538

$60,000

3 bd · 1.0 ba · 1,200 sqft · SingleFamily · 110 Days on market

Built 1960 Fair condition 2.60 ac lot ↓ 18% since listing

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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
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Livability +2.1/5.0

Listing remarks

3 bedroom 1 bath home sitting on 1.6 acres outside of Coalgate. Property also has a barn that has electric, water and horse stables. Home needs TLC inside, but has newer siding and metal roof. New water & gas lines were installed under the home in November 2024. Home also had piers and beams replaced as well. Contact today for more information!

Key facts

• Metal roof
• Barn
• 1.6 acres

Tags

• 1.6 ACRES
• BARN
• ELECTRIC
• HORSE STABLES
• NEWER SIDING
• METAL ROOF

Property features AI

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Phone available; Water available (rural); Septic tank
• Home design: Single-story; Faces south
• Construction: Built by builder (year source: Builder); Steel and wood frame construction; Metal roof; Crawlspace foundation
• Exterior features: Barn(s); Mature trees

Interior

• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating
• Interior features: Ceramic counters; Ceiling fan(s); Crawl Space (basement type)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 41/100 on livability (#722 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Coalgate (rural): math 20% / reading 30% proficiency, ranked #126 of 270 in OK (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 29 active listings in the ZIP; 8 units permitted in Coal County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($415 loan paydown + $2k appreciation (3.0% local appreciation)).
• Coal County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — 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. 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: 1.79% ✓
• Cap rate: 14.94%
• Cash-on-cash: 30.89%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 36.7%
• Equity multiple: 3.07×
• Total profit: $34,785
• Equity at exit: $26,979

10-year hold

• IRR: 36.8%
• Equity multiple: 6.08×
• Total profit: $85,266
• Equity at exit: $41,577

Cash invested: $16,800 (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 74538

• Active inventory: 29
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $432

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 55%

Sensitivity live

Price	-10% $474	-5% $453	+0% $432	+5% $412	+10% $391
Rent	-10% $348	-5% $390	+0% $432	+5% $475	+10% $517
Rate	-1.0pp $463	-0.5pp $448	base $432	+0.5pp $417	+1.0pp $401

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $60,000 Active 110 DOM
2. 2026-06-18
   days on market $60,000 Active 108 DOM
3. 2026-06-17
   days on market $60,000 Active 107 DOM
4. 2026-06-16
   days on market $60,000 Active 106 DOM
5. 2026-06-15
   days on market $60,000 Active 105 DOM
6. 2026-06-13
   days on market $60,000 Active 103 DOM
7. 2026-06-12
   days on market $60,000 Active 102 DOM
8. 2026-06-09
   days on market $60,000 Active 99 DOM
9. 2026-06-08
   days on market $60,000 Active 98 DOM
10. 2026-06-08
    days on market $60,000 Active 97 DOM
11. 2026-06-05
    pricedays on market $60,000 Active 95 DOM
12. 2026-06-04
    days on market $115,000 Active 93 DOM
13. 2026-06-02
    days on market $115,000 Active 92 DOM
14. 2026-06-01
    days on market $115,000 Active 91 DOM
15. 2026-05-31
    days on market $115,000 Active 90 DOM
16. 2026-03-12
    price $115,000
17. 2026-03-02
    listed $140,000 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 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,867
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$1,745
• Taxable income: $4,502
• Est. tax owed @ 24.0%: −$1,080
• After-tax cash flow: $4,109/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.

Condition & rehab AI · 11 photos

Fair 45/100 Extensive rehab

The property requires extensive repairs and maintenance, including painting, landscaping, and fencing repairs, to improve its condition and marketability.

Repairs flagged

• Major Rusty metal roof on barns — Significant rust and potential water damage.
• Major Rusty metal siding on barns — Significant rust and potential need for repainting or replacement.
• Minor Overgrown grass and weeds in the yard — Aesthetic issue that can be addressed with trimming and mowing.
• Major Rusty and worn fencing — Structural integrity compromised, needs repair or replacement.

Value-add opportunities

• Resale Painting and repainting of exterior siding and roof — Fresh paint and a clean roof will significantly improve the home's curb appeal and marketability.
• Rental Landscaping and trimming of overgrown grass and weeds — A well-maintained yard will attract tenants and improve the property's rental value.
• Both Repairs or replacement of fencing — A sturdy and attractive fence will enhance both the property's resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Rusty metal roof on barns · Significant rust and potential water damage.	Major	$15,000–50,000
Rusty metal siding on barns · Significant rust and potential need for repainting or replacement.	Major	$15,000–50,000
Overgrown grass and weeds in the yard · Aesthetic issue that can be addressed with trimming and mowing.	Minor	$500–3,000
Rusty and worn fencing · Structural integrity compromised, needs repair or replacement.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$45,500–153,000

Value-add ROI direction

• Resale Painting and repainting of exterior siding and roof — Fresh paint and a clean roof will significantly improve the home's curb appeal and marketability. ↑
• Rental Landscaping and trimming of overgrown grass and weeds — A well-maintained yard will attract tenants and improve the property's rental value. ↑
• Both Repairs or replacement of fencing — A sturdy and attractive fence will enhance both the property's resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Coalgate
• NCES district ID: 4008130
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $34,406
• Composite: 20.53/100
• National rank: #8565
• State rank: #126 of 270 in OK

Livability — Phillips

• Score: 41/100
• State rank: #722
• US rank: #27204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Phillips, OK
• Population (ZIP): 3,933

Population outlook (Coal County) Hauer SSP2

• Today (2025): 5,190 people
• By 2030: 4,951 · -4.6%
• By 2040: 4,507 · -13.2%
• By 2050: 4,186 · -19.3%
• By 2075: 4,057 · -21.8%
• By 2100: 4,331 · -16.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 63% Two or more races 25% Native American 9% Hispanic / Latino 5%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 3% Spanish 2% Vietnamese 1%

Political lean MEDSL · Coal

• 2024 margin: Solid R (+71.3) · D 13.6% · R 84.9% · Other 1.5%
• 2008→2024 swing: -24.1pp toward R · 2008: -47.2pp · 2024: -71.3pp
• All cycles: 2024: R+71.3 2020: R+68.0 2016: R+61.9 2012: R+45.0 2008: R+47.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-17.9% since first listed

2 events — show timeline

• 2026-03-12 Price Changed $115,000 MLS Technology, Inc.
• 2026-03-02 Listed $140,000 MLS Technology, Inc.