115 S Ash St · Fargo, OK 73840

$55,000

3 bd · 2.0 ba · 840 sqft · Manufactured public records · 65 Days on market

Built 2013

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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 +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

80% Conventional Loan @Stock Exchange Bank, 9% int, 10 yrs, 840 sq ft mol per OK Assessor, No Concessions pd by seller for buyer, Appraised by Loren Morgan. This is a 2013 Clayton Manufactured Home that is immaculate and has a well-maintained yard with lots of flowers. The home is a 2 bedroom, 2 bath home that is very clean and move-in ready. The home includes a 10x12 foot shed, below-ground storm shelter and covered, attached porches front and back. The carport is for one vehicle. The lot is 75'x140' and the vacant land to the south does not belong with this property. The home sits at a diagonal on the property. It has aluminum siding. The home is within walking distance to the public schools. All of the appliances will remain with the house. The Addendum has a full listing of all that remains with the house, as well as other information, and can be found on line.

Key facts

• Good size shed
• Manufactured home
• Large lot

Tags

• MANUFACTURED HOME
• LARGE LOT
• STORM SHELTER
• CARPORT
• GOOD SIZE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#268 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime F.
• Fargo (rural): math 25% / reading 25% proficiency, ranked #320 of 513 in OK (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fargo Es (math 27% / reading 27%, grade F, #311 of 845 statewide, top 40%, 149 students, 0% FRL); Fargo Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 73 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.2% local appreciation)).
• Ellis County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $35k; list at $55k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
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: 1.95% ✓
• Cap rate: 17.16%
• Cash-on-cash: 38.82%
• DSCR: 2.73
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.7%
• Equity multiple: 3.53×
• Total profit: $39,038
• Equity at exit: $25,462

10-year hold

• IRR: 44.2%
• Equity multiple: 7.08×
• Total profit: $93,668
• Equity at exit: $39,819

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 73840

• Home prices YoY: 2.3%
• Active inventory: 3
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $498

Break-even live

Break-even rent $443

Max offer price $55,000

Occupancy floor 49%

Sensitivity live

Price	-10% $529	-5% $514	+0% $498	+5% $483	+10% $467
Rent	-10% $413	-5% $456	+0% $498	+5% $541	+10% $583
Rate	-1.0pp $526	-0.5pp $512	base $498	+0.5pp $484	+1.0pp $469

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 21 events

1. 2026-06-22
   days on market $55,000 Active 65 DOM
2. 2026-06-21
   days on market $55,000 Active 64 DOM
3. 2026-06-21
   days on market $55,000 Active 63 DOM
4. 2026-06-18
   days on market $55,000 Active 61 DOM
5. 2026-06-17
   days on market $55,000 Active 60 DOM
6. 2026-06-16
   days on market $55,000 Active 59 DOM
7. 2026-06-15
   days on market $55,000 Active 58 DOM
8. 2026-06-13
   days on market $55,000 Active 56 DOM
9. 2026-06-12
   days on market $55,000 Active 55 DOM
10. 2026-06-09
    days on market $55,000 Active 52 DOM
11. 2026-06-08
    days on market $55,000 Active 51 DOM
12. 2026-06-08
    days on market $55,000 Active 50 DOM
13. 2026-06-05
    days on market $55,000 Active 48 DOM
14. 2026-06-04
    days on market $55,000 Active 46 DOM
15. 2026-06-02
    days on market $55,000 Active 45 DOM
16. 2026-06-01
    days on market $55,000 Active 44 DOM
17. 2026-05-31
    days on market $55,000 Active 43 DOM
18. 2026-04-16
    listed $55,000 Active
19. 2018-11-02
    soldstatus $35,000
20. 2018-10-29
    soldstatus $35,000 877-char remark

    Show marketing remark (877 chars)

    80% Conventional Loan @Stock Exchange Bank, 9% int, 10 yrs, 840 sq ft mol per OK Assessor, No Concessions pd by seller for buyer, Appraised by Loren Morgan. This is a 2013 Clayton Manufactured Home that is immaculate and has a well-maintained yard with lots of flowers. The home is a 2 bedroom, 2 bath home that is very clean and move-in ready. The home includes a 10x12 foot shed, below-ground storm shelter and covered, attached porches front and back. The carport is for one vehicle. The lot is 75'x140' and the vacant land to the south does not belong with this property. The home sits at a diagonal on the property. It has aluminum siding. The home is within walking distance to the public schools. All of the appliances will remain with the house. The Addendum has a full listing of all that remains with the house, as well as other information, and can be found on line.

21. 2016-09-02
    listed $36,400 877-char remark

    Show marketing remark (877 chars)

    80% Conventional Loan @Stock Exchange Bank, 9% int, 10 yrs, 840 sq ft mol per OK Assessor, No Concessions pd by seller for buyer, Appraised by Loren Morgan. This is a 2013 Clayton Manufactured Home that is immaculate and has a well-maintained yard with lots of flowers. The home is a 2 bedroom, 2 bath home that is very clean and move-in ready. The home includes a 10x12 foot shed, below-ground storm shelter and covered, attached porches front and back. The carport is for one vehicle. The lot is 75'x140' and the vacant land to the south does not belong with this property. The home sits at a diagonal on the property. It has aluminum siding. The home is within walking distance to the public schools. All of the appliances will remain with the house. The Addendum has a full listing of all that remains with the house, as well as other information, and can be found on line.

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $495 · $41/mo
• Expected delta: +$31/yr (+$3/mo · 6.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,883
• − Mortgage interest: −$3,081
• − Property taxes: −$464
• − Insurance: −$275
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$1,600
• Taxable income: $5,402
• Est. tax owed @ 24.0%: −$1,297
• After-tax cash flow: $4,681/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: Fargo
• NCES district ID: 4011430
• Math proficiency: 25% ▼ -20.00%
• Reading proficiency: 25% ▼ -15.00%
• Median HH income: $51,652
• Composite: 25.25/100
• National rank: #12909
• State rank: #320 of 513 in OK

Livability — Fargo

• Score: 62/100
• State rank: #268
• US rank: #17092

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, OK
• Population (ZIP): 464

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 4,446 people
• By 2030: 4,549 · +2.3%
• By 2040: 4,757 · +7.0%
• By 2050: 4,978 · +12.0%
• By 2075: 5,455 · +22.7%
• By 2100: 5,346 · +20.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 24% Two or more races 16% Native American 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Lithuanian 6% Iranian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+76.6) · D 10.9% · R 87.5% · Other 1.7%
• 2008→2024 swing: -6.1pp toward R · 2008: -70.5pp · 2024: -76.6pp
• All cycles: 2024: R+76.6 2020: R+81.5 2016: R+79.7 2012: R+74.9 2008: R+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.24%
• Current HPI: 145.6422
• 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

+51.1% since first listed

4 events — show timeline

• 2026-04-16 Listed $55,000 Fizber.com
• 2018-11-02 Sold (Public Records) $35,000 Public Records
• 2018-10-29 Sold (MLS) $35,000 NWOAR
• 2016-09-02 Listed $36,400 NWOAR

Property tax history

+21.8%/yr

Latest (2025): $464 · +11.5% YoY. Source: county tax records.