1020 Culbertson St · Ardmore, OK 73401

$119,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 90 Days on market

Built 1945 0.38 ac lot Est $163k · 27% under ↓ 2% since listing

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• 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

Investor opportunity! This property features a 3-bedroom, 1-bath home ready for renovation—ideal for a flip, rental, or custom project. Some updates have already been started, including a new kitchen sink and countertop. A major highlight is the 18x35 fully insulated building (approx. 670 sq ft) with 14 ft ceilings, offering incredible flexibility. The building includes: 5 windows and 2 doors, Stubbed for water and sewer, Electric water heater, Utility sink, 100-amp electrical panel( Not Installed) also Treated and waterproofed slab. Perfect for a workshop, man cave, or extra storage space. Outside, a large yard plus the adjacent lot included, giving you room to expand, build, or incr

Key facts

• 2 doors
• 14 ft ceilings
• 5 windows

Tags

• NEW KITCHEN SINK
• NEW COUNTERTOP
• FULLY INSULATED BUILDING
• 14 FT CEILINGS
• 5 WINDOWS
• 2 DOORS

Property features AI

Exterior

• Security: Storm shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story home; Faces west; Crawlspace foundation
• Construction: Wood siding and wood frame construction; Asphalt fiberglass roof
• Exterior features: Covered porch; Storage structure; Partial fencing; Mature trees on lot; Storm shelter

Interior

• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit(s) for cooling
• Interior features: Aluminum window frames; Laminate counters; No additional interior features listed
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 $823 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 $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1945 — 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: 1.19% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $162,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1120 G St SW	0.17mi	3/2.0	1,426 (+6%)	7mo	$177,000	$124	72
518 Frisco Ln	0.41mi	3/1.5	1,392 (+4%)	2mo	$169,000	$121	71
526 H St SW	0.37mi	4/1.5 (+1)	1,373 (+2%)	4mo	$144,900	$106	68
816 Harbin	0.35mi	3/2.0	1,388 (+3%)	10mo	$220,000	$159	66
912 P SW	0.55mi	3/2.0	1,356 (+1%)	9mo	$145,000	$107	62
420 Wheeler St SW	0.45mi	3/1.0	1,220 (-9%)	7mo	$113,400	$93	58
324 D St SW	0.63mi	3/2.0	1,429 (+6%)	3mo	$179,000	$125	54
909 SE D St	0.69mi	3/1.0	1,181 (-12%)	10mo	$142,500	$121	39
1712 5th Ave SW	0.70mi	2/2.0 (-1)	1,455 (+8%)	7mo	$228,000	$157	39
1501 3rd Ave SW	0.73mi	3/1.0	1,533 (+14%)	11mo	$276,500	$180	33
923 3rd SW	0.63mi	2/1.0 (-1)	1,156 (-14%)	11mo	$125,000	$108	33
134 SW G. St	0.74mi	3/2.0	1,530 (+14%)	8mo	$147,500	$96	32

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: 4.7%
• Equity multiple: 1.19×
• Total profit: $6,370
• Equity at exit: $17,743

10-year hold

• IRR: 17.9%
• Equity multiple: 2.79×
• Total profit: $59,584
• Equity at exit: $10,289

Cash invested: $33,320 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,420 medium
• Mortgage (P&I): −$624
• Tax est. 1.5%: −$149 /mo · $1,785/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $300

Break-even live

Break-even rent $1,041

Max offer price $119,000

Occupancy floor 74%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $119,000 Active 90 DOM
2. 2026-06-18
   days on market $119,000 Active 89 DOM
3. 2026-06-17
   days on market $119,000 Active 88 DOM
4. 2026-06-16
   days on market $119,000 Active 87 DOM
5. 2026-06-15
   days on market $119,000 Active 86 DOM
6. 2026-06-14
   days on market $119,000 Active 84 DOM
7. 2026-06-12
   days on market $119,000 Active 83 DOM
8. 2026-06-09
   days on market $119,000 Active 80 DOM
9. 2026-06-08
   days on market $119,000 Active 79 DOM
10. 2026-06-07
    days on market $119,000 Active 78 DOM
11. 2026-06-05
    days on market $119,000 Active 75 DOM
12. 2026-06-03
    days on market $119,000 Active 74 DOM
13. 2026-06-02
    days on market $119,000 Active 73 DOM
14. 2026-06-01
    days on market $119,000 Active 72 DOM
15. 2026-05-31
    days on market $119,000 Active 71 DOM
16. 2026-05-30
    days on market $119,000 Active 70 DOM
17. 2026-05-06
    price $119,000
18. 2026-03-31
    price $119,500
19. 2026-03-20
    listed $121,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,046
• − Mortgage interest: −$6,666
• − Property taxes: −$1,785
• − Insurance: −$595
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$3,462
• Taxable income: $1,811
• Est. tax owed @ 24.0%: −$435
• After-tax cash flow: $3,163/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

-2.1% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $119,000 MLS Technology, Inc.
• 2026-03-31 Price Changed $119,500 MLS Technology, Inc.
• 2026-03-20 Listed $121,500 MLS Technology, Inc.

Property tax history

+7.1%/yr

Latest (2021): $227 · +6.6% YoY. Source: county tax records.