404 N State St · Weatherford, OK 73096

$67,000

1 bd · 1.0 ba · 768 sqft · SingleFamily · 71 Days on market

Built 1920 Poor condition 4,500 sqft lot Est $85k · 21% under

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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 +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute one-bedroom bungalow blocks away from SWOSU campus. Built in 1920, this bungalow offers charm. Covered front porch.

Key facts

• 4,500 sq ft lot
• Garage
• Built 1920

Property features AI

Finance

• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Electricity available; Natural gas available; Public utilities
• Home design: Single family residence; One story; West-facing; Residential, existing property
• Construction: Frame construction; Composition roof (replaced/updated 2016); Post-tension foundation; Aluminum and wood frame windows
• Exterior features: Wood fencing; Interior lot

Interior

• Kitchen: Free‑standing range; Free‑standing oven; Gas oven; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Panel Ray heating; Window unit cooling
• Interior features: Covered porch; No fireplace
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $67k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($821 rent vs $67k).
• Recommended offer: $63k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.3% in Weatherford — 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 70/100 on livability (#44 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Weatherford (town): math 28% / reading 26% proficiency, ranked #83 of 270 in OK (top 31%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Weatherford Hs (math 32% / reading 37%, grade F, #48 of 447 statewide, top 14%, 636 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 226 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $463 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $62,980 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.22% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $85,248
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 E Huber	0.15mi	2/1.0 (+1)	780 (+2%)	7mo	$40,000	$51	80
306 E Franklin Ave	0.20mi	2/1.0 (+1)	802 (+4%)	18mo	$105,000	$131	63
817 N Indiana St	0.34mi	2/1.0 (+1)	748 (-3%)	21mo	$89,000	$119	57
614 W Franklin St	0.54mi	2/1.0 (+1)	720 (-6%)	6mo	$62,000	$86	54
615 W Franklin St	0.54mi	2/1.0 (+1)	728 (-5%)	11mo	$90,000	$124	52
215 N 7th St	0.36mi	2/1.0 (+1)	880 (+15%)	5mo	$97,500	$111	50
120 N Caddo St	0.24mi	2/1.0 (+1)	875 (+14%)	24mo	$82,000	$94	40

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $950
• Equity at exit: $9,990

10-year hold

• IRR: 11.0%
• Equity multiple: 1.86×
• Total profit: $16,064
• Equity at exit: $5,793

Cash invested: $18,760 (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 73096

• Home prices YoY: -7.1%
• Active inventory: 226
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $821 medium
• Mortgage (P&I): −$351
• Tax est. 1.5%: −$84 /mo · $1,005/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $185

Break-even live

Break-even rent $586

Max offer price $67,000

Occupancy floor 72%

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $67,000 Active 71 DOM
2. 2026-06-17
   days on market $67,000 Active 70 DOM
3. 2026-06-16
   days on market $67,000 Active 69 DOM
4. 2026-06-15
   days on market $67,000 Active 68 DOM
5. 2026-06-13
   days on market $67,000 Active 66 DOM
6. 2026-06-12
   days on market $67,000 Active 65 DOM
7. 2026-06-09
   days on market $67,000 Active 62 DOM
8. 2026-06-08
   days on market $67,000 Active 61 DOM
9. 2026-06-08
   days on market $67,000 Active 60 DOM
10. 2026-06-07
    days on market $67,000 Active 59 DOM
11. 2026-06-04
    days on market $67,000 Active 56 DOM
12. 2026-06-02
    days on market $67,000 Active 55 DOM
13. 2026-06-01
    days on market $67,000 Active 54 DOM
14. 2026-05-31
    days on market $67,000 Active 53 DOM
15. 2026-04-07
    listed $67,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $9,846
• − Mortgage interest: −$3,753
• − Property taxes: −$1,005
• − Insurance: −$335
• − Repairs & maintenance: −$788
• − Management: −$788
• − Depreciation: −$1,949
• Taxable income: $1,229
• Est. tax owed @ 24.0%: −$295
• After-tax cash flow: $1,927/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This 1920 bungalow requires extensive repairs and updates to bring it up to modern standards. The extensive work will significantly increase its resale and rental value.

Repairs flagged

• Major kitchen cabinets — Severe wear and tear
• Major bathroom fixtures — Outdated and worn
• Major exterior siding — Worn and unkempt
• Major interior walls — Peeling paint and outdated decor

Value-add opportunities

• Resale New kitchen cabinets and countertops — Modern kitchen will attract more buyers
• Resale New bathroom fixtures and fixtures — Up-to-date bathroom will appeal to buyers
• Both New exterior siding and landscaping — Improved curb appeal will attract both buyers and renters
• Both Painting interior walls and adding fresh decor — Fresh look will attract buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Severe wear and tear	Major	$15,000–50,000
bathroom fixtures · Outdated and worn	Major	$15,000–50,000
exterior siding · Worn and unkempt	Major	$15,000–50,000
interior walls · Peeling paint and outdated decor	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New kitchen cabinets and countertops — Modern kitchen will attract more buyers ↑
• Resale New bathroom fixtures and fixtures — Up-to-date bathroom will appeal to buyers ↑
• Both New exterior siding and landscaping — Improved curb appeal will attract both buyers and renters ↑
• Both Painting interior walls and adding fresh decor — Fresh look will attract buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Weatherford
• NCES district ID: 4032070
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 26% ▼ -15.00%
• Median HH income: $45,799
• Composite: 23.33/100
• National rank: #7916
• State rank: #83 of 270 in OK

Livability — Weatherford

• Score: 70/100
• State rank: #44
• US rank: #7987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Weatherford, OK
• Population (ZIP): 14,282

Population outlook (Custer County) Hauer SSP2

• Today (2025): 34,356 people
• By 2030: 37,162 · +8.2%
• By 2040: 43,354 · +26.2%
• By 2050: 50,458 · +46.9%
• By 2075: 71,075 · +106.9%
• By 2100: 91,129 · +165.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 14% Hispanic / Latino 12% Native American 5% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 4% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Custer

• 2024 margin: Solid R (+53.2) · D 22.4% · R 75.7% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: -49.3pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+53.2 2016: R+54.3 2012: R+51.9 2008: R+49.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.63%
• Current HPI: 230.2732
• 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

• 2026-04-07 Listed $67,000 MLSOK