509 Chris Ave · Altus, OK 73521

$85,000

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 248 Days on market

Built 1955 6,778 sqft lot Est $75k · 14% over

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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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +1.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 bedroom, 1 bathroom house for sale. Refrigerator, dishwasher, over/stove, washer and dryer will stay with the house. Hardwood floors throughout.

Key facts

• New roof
• Hardwood floors
• 6,778 sq ft lot

Tags

• NEW ROOF
• HARDWOOD FLOORS
• INTERIOR LAUNDRY ROOM

Property features AI

Finance

• Other: Property is existing (not new construction); No storm shelter; Vacant/occupied status listed as vacant; Conditions affecting sale: Leased, Owner Associate
• Financial info: Listing terms include Cash, Conventional, Lease or Sell, Seller will Finance; Loan qualification allowed; not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Utilities: Standard utilities (water/sewer/power not specified)
• Home design: Single family residence; One level; Residential property
• Construction: Frame construction; Composition roof (roof replaced/updated 2024); Combination foundation
• Exterior features: Interior lot; Covered porch

Interior

• Kitchen: Dishwasher; Free-standing electric range/oven; Refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Window unit(s)
• Interior features: Covered porch; Inside utility; Living area reported as 840 (assessor)
• Laundry & utility: Washer and dryer included; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($984 rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 Jhs (math 30% / reading 27%, grade F, #57 of 345 statewide, top 18%, 491 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: 168 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 $588 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $57k; 49% 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 $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.16% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.46%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $74,760
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1709 Oklahoma Dr	0.13mi	3/1.0	871 (+4%)	8mo	$120,000	$138	81
700 Judy Ave	0.13mi	3/1.0	808 (-4%)	12mo	$53,480	$66	77
1519 N Willard St	0.10mi	2/1.0 (-1)	864 (+3%)	11mo	$58,000	$67	76
713 Chris Ave	0.15mi	3/1.0	832 (-1%)	21mo	$47,000	$56	74
1617 N Lee St	0.18mi	3/1.0	902 (+7%)	9mo	$80,000	$89	72
1727 Crain Dr	0.18mi	3/1.0	956 (+14%)	22mo	$103,000	$108	50

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $1,942
• Equity at exit: $12,674

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $21,870
• Equity at exit: $7,349

Cash invested: $23,800 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 168
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $984 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $247

Break-even live

Break-even rent $671

Max offer price $85,000

Occupancy floor 70%

Sensitivity live

Price	-10% $295	-5% $271	+0% $247	+5% $223	+10% $199
Rent	-10% $169	-5% $208	+0% $247	+5% $286	+10% $325
Rate	-1.0pp $290	-0.5pp $269	base $247	+0.5pp $225	+1.0pp $203

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $85,000 Active 248 DOM
2. 2026-06-21
   days on market $85,000 Active 247 DOM
3. 2026-06-18
   days on market $85,000 Active 245 DOM
4. 2026-06-17
   days on market $85,000 Active 244 DOM
5. 2026-06-16
   days on market $85,000 Active 243 DOM
6. 2026-06-15
   days on market $85,000 Active 242 DOM
7. 2026-06-13
   days on market $85,000 Active 240 DOM
8. 2026-06-12
   days on market $85,000 Active 239 DOM
9. 2026-06-09
   days on market $85,000 Active 236 DOM
10. 2026-06-08
    days on market $85,000 Active 235 DOM
11. 2026-06-08
    days on market $85,000 Active 234 DOM
12. 2026-06-07
    days on market $85,000 Active 233 DOM
13. 2026-06-04
    days on market $85,000 Active 230 DOM
14. 2026-06-02
    days on market $85,000 Active 229 DOM
15. 2026-06-01
    days on market $85,000 Active 228 DOM
16. 2026-05-31
    days on market $85,000 Active 227 DOM
17. 2025-10-28
    historical $750
18. 2025-10-17
    price $750
19. 2025-10-15
    listed $85,000 Active
20. 2025-09-26
    listed $850
21. 2024-05-13
    soldstatus $57,000
22. 2024-05-08
    soldstatus $57,000 Closed 152-char remark

    Show marketing remark (152 chars)

    Nice 3 bedroom, 1 bathroom house for sale. Refrigerator, dishwasher, over/stove, washer and dryer will stay with the house. Hardwood floors throughout.

23. 2024-04-23
    status Pending 152-char remark

    Show marketing remark (152 chars)

    Nice 3 bedroom, 1 bathroom house for sale. Refrigerator, dishwasher, over/stove, washer and dryer will stay with the house. Hardwood floors throughout.

24. 2024-04-19
    listed $57,000 Active 152-char remark

    Show marketing remark (152 chars)

    Nice 3 bedroom, 1 bathroom house for sale. Refrigerator, dishwasher, over/stove, washer and dryer will stay with the house. Hardwood floors throughout.

25. 2022-01-04
    soldstatus $30,000 Sold 213-char remark

    Show marketing remark (213 chars)

    Super sweet 3 Bedroom, 1 Bathroom home! Open floor plan with original hardwood floors in the living space and bedrooms, newer vinyl flooring in kitchen and bath! NEW Windows throughout! Great investment property!

26. 2021-12-12
    status Pending 213-char remark

    Show marketing remark (213 chars)

    Super sweet 3 Bedroom, 1 Bathroom home! Open floor plan with original hardwood floors in the living space and bedrooms, newer vinyl flooring in kitchen and bath! NEW Windows throughout! Great investment property!

27. 2021-12-09
    status Active 213-char remark

    Show marketing remark (213 chars)

    Super sweet 3 Bedroom, 1 Bathroom home! Open floor plan with original hardwood floors in the living space and bedrooms, newer vinyl flooring in kitchen and bath! NEW Windows throughout! Great investment property!

28. 2021-11-30
    status Pending 213-char remark

    Show marketing remark (213 chars)

    Super sweet 3 Bedroom, 1 Bathroom home! Open floor plan with original hardwood floors in the living space and bedrooms, newer vinyl flooring in kitchen and bath! NEW Windows throughout! Great investment property!

29. 2021-11-28
    listed $35,000 Active 213-char remark

    Show marketing remark (213 chars)

    Super sweet 3 Bedroom, 1 Bathroom home! Open floor plan with original hardwood floors in the living space and bedrooms, newer vinyl flooring in kitchen and bath! NEW Windows throughout! Great investment property!

30. 2015-08-13
    soldstatus $18,000
31. 2009-05-12
    soldstatus $10,500

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $765 · $64/mo
• Expected delta: +$180/yr (+$15/mo · 30.8%)

ⓘ 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: $11,802
• − Mortgage interest: −$4,761
• − Property taxes: −$585
• − Insurance: −$425
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$2,473
• Taxable income: $1,670
• Est. tax owed @ 24.0%: −$401
• After-tax cash flow: $2,564/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

+709.5% since first listed

15 events — show timeline

• 2025-10-28 Rental Removed $750 TURBOTENANT
• 2025-10-17 Price Changed $750 TURBOTENANT
• 2025-10-15 Listed $85,000 MLSOK
• 2025-09-26 Listed for Rent $850 TURBOTENANT
• 2024-05-13 Sold (Public Records) $57,000 Public Records
• 2024-05-08 Sold (MLS) $57,000 MLSOK
• 2024-04-23 Pending — MLSOK
• 2024-04-19 Listed $57,000 MLSOK
• 2022-01-04 Sold (MLS) $30,000 MLSOK
• 2021-12-12 Pending — MLSOK
• 2021-12-09 Relisted — MLSOK
• 2021-11-30 Pending — MLSOK
• 2021-11-28 Listed $35,000 MLSOK
• 2015-08-13 Sold (Public Records) $18,000 Public Records
• 2009-05-12 Sold (Public Records) $10,500 Public Records

Property tax history

+10.1%/yr

Latest (2025): $585 · +89.3% YoY. Source: county tax records.