478 E Main St · Colcord, OK 74338

$260,000

4 bd · 2.0 ba · 1,920 sqft · Townhouse public records · 5 Days on market

Built 1992 0.37 ac lot

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Appreciation +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

A rare dual-residence rental offering two complete 2-bedroom homes—one upstairs, one downstairs—each with its own private living spaces, outdoor areas, and access to optional fenced pastureland available for sale too. Property Highlights - Each level features 2 bedrooms, 1 bathroom, a full kitchen, and a living area, ideal for multi-generational living, rental income, or adjoining households. Separate Outdoor Spaces — Upstairs: Balcony deck with elevated views, Downstairs: Covered patio with ground-level access. Acreage Option — Home sits on 0.368 acres m/l, with an additional 4.55 acres m/l of fenced pasture available for sale. Fenced Stable — Perfect for smal

Key facts

• Balcony deck
• Covered patio
• Fenced pastureland

Tags

• PRIVATE LIVING SPACES
• OUTDOOR AREAS
• FENCED PASTURELAND
• SEPARATE OUTDOOR SPACES
• BALCONY DECK
• COVERED PATIO

Property features AI

Exterior

• Security: Smoke detector(s); No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Septic tank; Phone available; Fiber optic available
• Home design: 2-story property; Faces south; Slab foundation
• Construction: Built with HardiPlank type siding and wood frame; Asphalt/fiberglass roof
• Exterior features: Dirt driveway; Balcony; Covered patio/porch; Patio; Stables; Storage; Barbed wire, full and wire fencing; Mature trees; Additional land available; Farm/ranch characteristics; Horses allowed

Interior

• Kitchen: Dishwasher; Oven; Range; Stove; Electric water heater
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating; Space heater; Window unit(s) for cooling
• Interior features: High speed internet; Laminate counters; Ceiling fan(s); Electric range connection; Aluminum window frames
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $260k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/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 $255k (2.1% below list).
• Recommended offer: $255k (2.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 59/100 on livability (#402 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Colcord (rural): math 22% / reading 26% proficiency, ranked #135 of 270 in OK (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 36 active listings in the ZIP; 51 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (3.0% local appreciation)).
• Delaware 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 $73k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe 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 $254,640 (2.1% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• GRM: 8.5

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: 14.4%
• Equity multiple: 1.82×
• Total profit: $59,724
• Equity at exit: $116,907

10-year hold

• IRR: 16.1%
• Equity multiple: 3.37×
• Total profit: $172,557
• Equity at exit: $180,168

Cash invested: $72,800 (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 74338

• Active inventory: 36
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,546 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$92 /mo · $1,107/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $448

Break-even live

Break-even rent $1,980

Max offer price $260,000

Occupancy floor 77%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $260,000 Active 5 DOM
2. 2026-06-17
   days on market $260,000 Active 4 DOM
3. 2026-06-16
   days on market $260,000 Active 3 DOM
4. 2026-06-15
   days on market $260,000 Active 2 DOM
5. 2026-06-14
   remarks 669-char remark
6. 2026-06-14
   listed $260,000 Active 1 DOM

ⓘ 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: $1,107 · $92/mo
• Projected year-2 tax: $2,340 · $195/mo
• Expected delta: +$1,233/yr (+$103/mo · 111.4%)

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $30,557
• − Mortgage interest: −$14,564
• − Property taxes: −$1,107
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,445
• − Management: −$2,445
• − Depreciation: −$7,564
• Taxable income: $1,133
• Est. tax owed @ 24.0%: −$272
• After-tax cash flow: $5,099/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: Colcord
• NCES district ID: 4008250
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 26% ▼ -4.00%
• Median HH income: $34,595
• Composite: 19.75/100
• National rank: #8710
• State rank: #135 of 270 in OK

Livability — Colcord

• Score: 59/100
• State rank: #402
• US rank: #20420

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colcord, OK
• Population (ZIP): 5,306

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 41,302 people
• By 2030: 40,888 · -1.0%
• By 2040: 39,802 · -3.6%
• By 2050: 38,839 · -6.0%
• By 2075: 37,438 · -9.4%
• By 2100: 34,910 · -15.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 55% Native American 24% Two or more races 16% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 2% Portuguese 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Tagalog/Filipino 1%

Political lean MEDSL · Delaware

• 2024 margin: Solid R (+60.4) · D 19.2% · R 79.6% · Other 1.2%
• 2008→2024 swing: -26.6pp toward R · 2008: -33.8pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.5 2016: R+54.1 2012: R+41.3 2008: R+33.8

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

1 event — show timeline

• 2026-06-12 Listed $260,000 MLS Technology, Inc.

Property tax history

+7.2%/yr

Latest (2025): $1,107 · +2.6% YoY. Source: county tax records.