414 Locust · Ardmore, OK 73401

$120,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 71 Days on market

Built 1955 7,841 sqft lot Est $118k · at est.

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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 +22.2/30.0
• DSCR +7.1/10.0
• ARV discount +6.9/15.0
• 1% rule +4.6/10.0
• Rent growth +4.3/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Great 3 bedroom brick in NW Ardmore. Close to 2 parks many churches shopping and more. Charming area to raise your family. house has been remodeled in the past. Roof less than 5 years old. covered front porch to watch the world

Key facts

• Covered front porch
• Close to parks
• Remodeled

Tags

• COVERED FRONT PORCH
• REMODELED
• CLOSE TO PARKS
• CLOSE TO SHOPPING

Property features AI

Exterior

• Parking: 1-car garage; Carport
• Security: Smoke detector(s); No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces east; Slab foundation
• Construction: Built with brick and wood frame; Asphalt/fiberglass roof
• Exterior features: Covered porch; Porch; Chain link fencing; Mature trees

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Stove
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Storm windows; Laminate counters; Ceiling fan(s); Gas oven connection
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (4.1% below list).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.6% in Ardmore — 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 58/100 on livability (#447 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Ardmore (town): math 12% / reading 15% proficiency, ranked #241 of 270 in OK (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.4%/yr); 379 active listings in the ZIP; 73 units permitted in Carter County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Carter County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.4% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% 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 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. 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?
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: 0.96% ✗
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $118,368
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 Locust	0.00mi	3/1.0 (+1)	864 (0%)	0mo	$118,000	$137	95
421 Elm	0.28mi	3/1.5 (+1)	926 (+7%)	2mo	$132,000	$143	66
711 Cherry	0.57mi	2/1.0	872 (+1%)	7mo	$133,500	$153	66
703 Cherry St	0.53mi	2/1.0	840 (-3%)	10mo	$94,764	$113	63
718 Ash St	0.64mi	2/1.0	880 (+2%)	7mo	$118,000	$134	62
704 Ash St	0.56mi	3/1.0 (+1)	992 (+15%)	12mo	$90,900	$92	35

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 · 7.38% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,803
• Equity at exit: $17,892

10-year hold

• IRR: 12.1%
• Equity multiple: 2.13×
• Total profit: $37,971
• Equity at exit: $10,375

Cash invested: $33,600 (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 73401

• Home prices YoY: -21.7%
• Rents YoY: 7.4%
• Active inventory: 379
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $195

Break-even live

Break-even rent $905

Max offer price $120,000

Occupancy floor 78%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-02-18
   listed $120,000 Active

ⓘ 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: $424 · $35/mo
• Projected year-2 tax: $1,080 · $90/mo
• Expected delta: +$656/yr (+$55/mo · 154.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,812
• − Mortgage interest: −$6,722
• − Property taxes: −$424
• − Insurance: −$600
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$3,491
• Taxable income: $365
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $2,248/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: Ardmore
• NCES district ID: 4003180
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 15% ▼ -6.00%
• Median HH income: $35,194
• Composite: 11.1/100
• National rank: #9733
• State rank: #241 of 270 in OK

Livability — Ardmore

• Score: 58/100
• State rank: #447
• US rank: #21387

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ardmore, OK
• County: Carter County · 36,833 people
• City population: 36,833
• Metro: Ardmore, OK
• Population (ZIP): 36,833
• Household income: $61,989
• Rent vs Own: 36.8% rent · 63.2% own
• Severe rent burden: 1026.0

Population outlook (Carter County) Hauer SSP2

• Today (2025): 50,892 people
• By 2030: 51,913 · +2.0%
• By 2040: 53,857 · +5.8%
• By 2050: 55,604 · +9.3%
• By 2075: 60,670 · +19.2%
• By 2100: 62,366 · +22.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 65% Two or more races 14% Hispanic / Latino 9% Native American 8% Black 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 5%

Political lean MEDSL · Carter

• 2024 margin: Solid R (+54.7) · D 21.9% · R 76.7% · Other 1.4%
• 2008→2024 swing: -14.2pp toward R · 2008: -40.5pp · 2024: -54.7pp
• All cycles: 2024: R+54.7 2020: R+52.5 2016: R+52.6 2012: R+42.7 2008: R+40.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.93%
• Current HPI: 269.7381
• Rent YoY: ▲ 7.38%
• Metro: Ardmore, OK
• 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

2 events — show timeline

• 2026-04-30 Pending — MLS Technology, Inc.
• 2026-02-18 Listed $120,000 MLS Technology, Inc.

Property tax history

+6.9%/yr

Latest (2025): $424 · +9.8% YoY. Source: county tax records.