204 N 6th · Carmen, OK 73726

$115,000

3 bd · 2.0 ba · 1,290 sqft · SingleFamily public records · 110 Days on market

Built 1970

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy small-town living in Carmen, Oklahoma with this nicely updated all-brick home situated on a spacious corner lot spanning 4.5 lots. Built in 1970, this single-level home offers 1,290 square feet with 2 bedrooms and 2 bathrooms at an affordable price point. Recent updates include new flooring, fresh paint, updated lighting and ceiling fans, remodeled bathrooms, and an updated kitchen featuring painted cabinetry, stainless steel appliances, and a gas range. The large master suite includes a remodeled bathroom with a walk-in shower. New mini-split heat and air systems provide efficient comfort. Additional features include two attached single-car garages, extra storage space, and a clean b

Key facts

• Spacious corner lot
• Updated kitchen
• Gas range

Tags

• UPDATED ALL BRICK HOME
• SPACIOUS CORNER LOT
• REMODELED BATHROOMS
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• GAS RANGE

Property features AI

Exterior

• Parking: Attached 2-car garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story; Faces west
• Construction: Residential construction
• Exterior features: Corner lot; Composition roof

Interior

• Kitchen: Dishwasher; Disposal
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Interior features: Window coverings; Partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#169 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Alva (town): math 29% / reading 32% proficiency, ranked #55 of 270 in OK (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Alfalfa County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $47k; list at $115k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (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. Built in 1970 — 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. 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: 1.01% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 8.3

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: 15.9%
• Equity multiple: 1.91×
• Total profit: $29,193
• Equity at exit: $51,709

10-year hold

• IRR: 17.5%
• Equity multiple: 3.56×
• Total profit: $82,284
• Equity at exit: $79,690

Cash invested: $32,200 (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 73726

• Active inventory: 3
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,157 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$21 /mo · $257/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $242

Break-even live

Break-even rent $851

Max offer price $115,000

Occupancy floor 74%

Sensitivity live

Price	-10% $307	-5% $274	+0% $242	+5% $209	+10% $177
Rent	-10% $150	-5% $196	+0% $242	+5% $287	+10% $333
Rate	-1.0pp $300	-0.5pp $271	base $242	+0.5pp $212	+1.0pp $182

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $115,000 Active 110 DOM
2. 2026-06-21
   days on market $115,000 Active 109 DOM
3. 2026-06-18
   days on market $115,000 Active 107 DOM
4. 2026-06-17
   days on market $115,000 Active 106 DOM
5. 2026-06-16
   days on market $115,000 Active 105 DOM
6. 2026-06-15
   days on market $115,000 Active 104 DOM
7. 2026-06-13
   days on market $115,000 Active 102 DOM
8. 2026-06-12
   days on market $115,000 Active 101 DOM
9. 2026-06-09
   days on market $115,000 Active 98 DOM
10. 2026-06-08
    days on market $115,000 Active 97 DOM
11. 2026-06-08
    days on market $115,000 Active 96 DOM
12. 2026-06-07
    days on market $115,000 Active 95 DOM
13. 2026-06-04
    days on market $115,000 Active 92 DOM
14. 2026-06-02
    days on market $115,000 Active 91 DOM
15. 2026-06-01
    days on market $115,000 Active 90 DOM
16. 2026-05-31
    days on market $115,000 Active 89 DOM
17. 2026-03-03
    listed $115,000 Active
18. 2005-02-02
    soldstatus $47,000
19. 1995-11-01
    soldstatus $19,500

ⓘ 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: $257 · $21/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$778/yr (+$65/mo · 302.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,886
• − Mortgage interest: −$6,442
• − Property taxes: −$257
• − Insurance: −$575
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$3,345
• Taxable income: $1,045
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $2,650/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: Alva
• NCES district ID: 4002880
• Math proficiency: 29% ▼ -5.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $51,292
• Composite: 26.74/100
• National rank: #7141
• State rank: #55 of 270 in OK

Livability — Carmen

• Score: 64/100
• State rank: #169
• US rank: #13820

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carmen, OK
• Population (ZIP): 445

Population outlook (Alfalfa County) Hauer SSP2

• Today (2025): 6,473 people
• By 2030: 6,888 · +6.4%
• By 2040: 7,852 · +21.3%
• By 2050: 9,078 · +40.2%
• By 2075: 11,842 · +82.9%
• By 2100: 12,675 · +95.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 4% Lithuanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · French/Haitian/Cajun 4% Spanish 3% German/W. Germanic 0%

Political lean MEDSL · Alfalfa

• 2024 margin: Solid R (+76.6) · D 10.9% · R 87.5% · Other 1.5%
• 2008→2024 swing: -10.4pp toward R · 2008: -66.2pp · 2024: -76.6pp
• All cycles: 2024: R+76.6 2020: R+77.2 2016: R+76.0 2012: R+69.4 2008: R+66.2

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

+489.7% since first listed

3 events — show timeline

• 2026-03-03 Listed $115,000 NWOAR
• 2005-02-02 Sold (Public Records) $47,000 Public Records
• 1995-11-01 Sold (Public Records) $19,500 Public Records

Property tax history

+0.6%/yr

Latest (2025): $257 · +4.9% YoY. Source: county tax records.