1019 E Elm St · Altus, OK 73521

$111,000

3 bd · 2.0 ba · 1,365 sqft · SingleFamily public records · 112 Days on market

Built 1955 8,847 sqft lot Est $127k · 13% under

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Why this score? — see what drove the C+ 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 +24.3/30.0
• ARV discount +13.2/15.0
• DSCR +7.8/10.0
• 1% rule +5.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this clean and updated 3 bedroom/2 bathroom home located near Altus High School. This home features lots of updates including re-textured walls and ceilings, all new exterior and interior doors, crown moldings in the spacious living area, and recessed lighting throughout. The kitchen offers plenty of cabinets and newer appliances. The master suite is a must see, with an ensuite bathroom and French doors that open up out to the lovely back patio. Home features a dry and usable inground storm seller, accessible from inside the home, a dedicated laundry room, 2018 model water heater, and detached garage with automatic door. This home is a must see.

Key facts

• 8,847 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• Recommended offer: $101k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.7% in Altus — 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 65/100 on livability (#151 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Altus (town): math 31% / reading 28% proficiency, ranked #69 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Altus Early Childhood Center (390 students, 0% FRL); Altus Hs (math 21% / reading 26%, grade F, #218 of 447 statewide, top 49%, 921 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 165 active listings in the ZIP; 8 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $767 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jackson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $101,010 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 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 1955 — 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: 1.06% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $126,945
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1019 E Elm St	0.00mi	3/2.0	1,365 (0%)	1mo	$111,000	$81	99
1020 E Walnut St	0.34mi	3/2.0	1,300 (-5%)	7mo	$150,000	$115	70
817 Windsor	0.50mi	3/2.0	1,400 (+3%)	6mo	$167,500	$120	68
818 E Elm St	0.21mi	3/2.0	1,500 (+10%)	7mo	$139,000	$93	68
1105 E Ash St	0.30mi	3/1.0	1,242 (-9%)	2mo	$145,000	$117	65
717 E Walnut St	0.41mi	3/2.0	1,502 (+10%)	7mo	$133,500	$89	58
1016 E Pecan St	0.49mi	3/2.0	1,213 (-11%)	1mo	$79,900	$66	58
512 Horizon Dr	0.53mi	3/2.0	1,517 (+11%)	4mo	$270,000	$178	53
502 N Jackson St	0.54mi	3/1.0	1,216 (-11%)	4mo	$83,500	$69	49
700 Taft St	0.72mi	3/2.0	1,493 (+9%)	6mo	$148,320	$99	45
1217 E Cherry St	0.60mi	4/2.0 (+1)	1,568 (+15%)	5mo	$105,000	$67	38
1109 Chestnut St	0.68mi	2/1.0 (-1)	1,200 (-12%)	6mo	$53,000	$44	34

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

Projected returns pro-forma

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

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-3,741
• Equity at exit: $16,550

10-year hold

• IRR: 6.5%
• Equity multiple: 1.48×
• Total profit: $15,038
• Equity at exit: $9,597

Cash invested: $31,080 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 165
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$582
• Tax from tax record: −$81 /mo · $974/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $224

Break-even live

Break-even rent $898

Max offer price $111,000

Occupancy floor 76%

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-02-25
   status Pending
2. 2026-02-07
   price $111,000
3. 2025-11-05
   listed $119,000 Active
4. 2021-04-01
   soldstatus $87,500 Sold 663-char remark

   Show marketing remark (663 chars)

   Check out this clean and updated 3 bedroom/2 bathroom home located near Altus High School. This home features lots of updates including re-textured walls and ceilings, all new exterior and interior doors, crown moldings in the spacious living area, and recessed lighting throughout. The kitchen offers plenty of cabinets and newer appliances. The master suite is a must see, with an ensuite bathroom and French doors that open up out to the lovely back patio. Home features a dry and usable inground storm seller, accessible from inside the home, a dedicated laundry room, 2018 model water heater, and detached garage with automatic door. This home is a must see.

5. 2021-04-01
   soldstatus $87,500

   Show marketing remark (663 chars)

   Check out this clean and updated 3 bedroom/2 bathroom home located near Altus High School. This home features lots of updates including re-textured walls and ceilings, all new exterior and interior doors, crown moldings in the spacious living area, and recessed lighting throughout. The kitchen offers plenty of cabinets and newer appliances. The master suite is a must see, with an ensuite bathroom and French doors that open up out to the lovely back patio. Home features a dry and usable inground storm seller, accessible from inside the home, a dedicated laundry room, 2018 model water heater, and detached garage with automatic door. This home is a must see.

6. 2021-02-17
   historical 663-char remark

   Show marketing remark (663 chars)

   Check out this clean and updated 3 bedroom/2 bathroom home located near Altus High School. This home features lots of updates including re-textured walls and ceilings, all new exterior and interior doors, crown moldings in the spacious living area, and recessed lighting throughout. The kitchen offers plenty of cabinets and newer appliances. The master suite is a must see, with an ensuite bathroom and French doors that open up out to the lovely back patio. Home features a dry and usable inground storm seller, accessible from inside the home, a dedicated laundry room, 2018 model water heater, and detached garage with automatic door. This home is a must see.

7. 2021-01-18
   listed $89,000 663-char remark

   Show marketing remark (663 chars)

   Check out this clean and updated 3 bedroom/2 bathroom home located near Altus High School. This home features lots of updates including re-textured walls and ceilings, all new exterior and interior doors, crown moldings in the spacious living area, and recessed lighting throughout. The kitchen offers plenty of cabinets and newer appliances. The master suite is a must see, with an ensuite bathroom and French doors that open up out to the lovely back patio. Home features a dry and usable inground storm seller, accessible from inside the home, a dedicated laundry room, 2018 model water heater, and detached garage with automatic door. This home is a must see.

ⓘ 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: $974 · $81/mo
• Projected year-2 tax: $999 · $83/mo
• Expected delta: +$25/yr (+$2/mo · 2.6%)

ⓘ 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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $14,179
• − Mortgage interest: −$6,218
• − Property taxes: −$974
• − Insurance: −$555
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$3,229
• Taxable income: $935
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $2,463/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: Altus
• NCES district ID: 4002850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $40,607
• Composite: 24.91/100
• National rank: #7574
• State rank: #69 of 270 in OK

Livability — Altus

• Score: 65/100
• State rank: #151
• US rank: #13386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altus, OK
• City population: 20,574
• Population (ZIP): 20,352

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 24,084 people
• By 2030: 23,476 · -2.5%
• By 2040: 22,731 · -5.6%
• By 2050: 22,586 · -6.2%
• By 2075: 25,413 · +5.5%
• By 2100: 31,069 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 15% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.3) · D 19.9% · R 78.2% · Other 1.9%
• 2008→2024 swing: -8.7pp toward R · 2008: -49.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.7 2016: R+57.6 2012: R+50.7 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.26%
• Current HPI: 178.7106
• 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

+24.7% since first listed

7 events — show timeline

• 2026-02-25 Pending — MLSOK
• 2026-02-07 Price Changed $111,000 MLSOK
• 2025-11-05 Listed $119,000 MLSOK
• 2021-04-01 Sold (Public Records) $87,500 Public Records
• 2021-04-01 Sold (MLS) $87,500 MLSOK
• 2021-02-17 Listing Removed — MLSOK
• 2021-01-18 Listed $89,000 MLSOK

Property tax history

+9.5%/yr

Latest (2025): $974 · +2.1% YoY. Source: county tax records.