508 S Buchanan St · Enid, OK 73703

$115,000

2 bd · 1.0 ba · 1,102 sqft · SingleFamily public records · 57 Days on market

Built 1920 Est $107k · 8% 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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +6.4/10.0
• ARV discount +4.1/15.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

So Cute! This 2-bedroom 1 bathroom home is 1100 sq ft. and features a nice sized dining area fenced yard and lots of light. A definite must see.

Key facts

• Garage
• Built 1920
• Listed 56 days

Property features AI

Exterior

• Parking: Detached 1-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Faces east
• Construction: Wood siding
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher; Refrigerator; Water softener
• Flooring: Ceramic tile; Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air; Ceiling fan(s)
• Interior features: Storm windows; Window coverings; Fireplace in family room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $287 ($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: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.0% in Enid — 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 63/100 on livability (#212 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D-, crime F.
• Enid (town): math 19% / reading 22% proficiency, ranked #168 of 270 in OK (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 171 active listings in the ZIP; 19 units permitted in Garfield County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Garfield County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $85k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.14% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.69%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $106,894
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 W Oklahoma Ave	0.14mi	3/2.0 (+1)	1,062 (-4%)	0mo	$120,000	$113	78
2522 W Oklahoma Ave	0.63mi	2/1.0	1,134 (+3%)	1mo	$99,000	$87	65
1006 Seneca Ave	0.66mi	2/1.0	1,140 (+3%)	2mo	$135,000	$118	62
902 W York Ave	0.62mi	3/1.0 (+1)	1,120 (+2%)	4mo	$97,500	$87	60
1024 W Oklahoma Ave	0.47mi	2/1.0	1,182 (+7%)	8mo	$120,000	$102	59
805 W Indiana Ave	0.72mi	2/1.0	1,027 (-7%)	5mo	$70,000	$68	51
1002 Sunset Ave	0.71mi	3/1.0 (+1)	1,159 (+5%)	6mo	$72,000	$62	48
2418 W Broadway Ave	0.66mi	2/1.0	1,256 (+14%)	1mo	$65,000	$52	45
1401 S Johnson St	0.66mi	3/1.0 (+1)	1,230 (+12%)	1mo	$150,000	$122	44
809 W Indiana Ave	0.71mi	2/1.0	975 (-12%)	7mo	$133,000	$136	42
1424 W Pine Ave	0.67mi	3/1.5 (+1)	1,000 (-9%)	6mo	$97,000	$97	41
1824 W Elm Ave	0.59mi	3/1.0 (+1)	1,248 (+13%)	10mo	$65,500	$52	37

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 · 2.42% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,139
• Equity at exit: $17,147

10-year hold

• IRR: 8.1%
• Equity multiple: 1.60×
• Total profit: $19,409
• Equity at exit: $9,943

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 73703

• Rents YoY: 2.4%
• Active inventory: 171
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,308 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$96 /mo · $1,147/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $287

Break-even live

Break-even rent $945

Max offer price $115,000

Occupancy floor 73%

Sensitivity live

Price	-10% $352	-5% $319	+0% $287	+5% $254	+10% $222
Rent	-10% $183	-5% $235	+0% $287	+5% $338	+10% $390
Rate	-1.0pp $345	-0.5pp $316	base $287	+0.5pp $257	+1.0pp $227

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 20 events

1. 2026-06-19
   days on market $115,000 Active 57 DOM
2. 2026-06-18
   days on market $115,000 Active 56 DOM
3. 2026-06-17
   days on market $115,000 Active 55 DOM
4. 2026-06-16
   days on market $115,000 Active 54 DOM
5. 2026-06-15
   days on market $115,000 Active 53 DOM
6. 2026-06-14
   days on market $115,000 Active 51 DOM
7. 2026-06-12
   days on market $115,000 Active 50 DOM
8. 2026-06-09
   days on market $115,000 Active 47 DOM
9. 2026-06-08
   days on market $115,000 Active 46 DOM
10. 2026-06-07
    days on market $115,000 Active 45 DOM
11. 2026-06-02
    days on market $115,000 Active 40 DOM
12. 2026-06-01
    days on market $115,000 Active 39 DOM
13. 2026-05-31
    days on market $115,000 Active 38 DOM
14. 2026-05-30
    days on market $115,000 Active 37 DOM
15. 2026-04-22
    listed $115,000 Active
16. 2022-07-08
    soldstatus $85,000 144-char remark

    Show marketing remark (144 chars)

    So Cute! This 2-bedroom 1 bathroom home is 1100 sq ft. and features a nice sized dining area fenced yard and lots of light. A definite must see.

17. 2022-07-07
    soldstatus $85,000
18. 2022-03-16
    listed $85,000 144-char remark

    Show marketing remark (144 chars)

    So Cute! This 2-bedroom 1 bathroom home is 1100 sq ft. and features a nice sized dining area fenced yard and lots of light. A definite must see.

19. 2018-01-05
    soldstatus $53,000
20. 2015-12-16
    soldstatus $78,500

ⓘ 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: $1,147 · $96/mo
• Projected year-2 tax: $1,147 · $96/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,696
• − Mortgage interest: −$6,442
• − Property taxes: −$1,147
• − Insurance: −$575
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$3,345
• Taxable income: $1,676
• Est. tax owed @ 24.0%: −$402
• After-tax cash flow: $3,039/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: Enid
• NCES district ID: 4010920
• Math proficiency: 19% ▼ -11.00%
• Reading proficiency: 22% ▼ -9.00%
• Median HH income: $42,389
• Composite: 17.59/100
• National rank: #9040
• State rank: #168 of 270 in OK

Livability — Enid

• Score: 63/100
• State rank: #212
• US rank: #15472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enid, OK
• County: Garfield County · 55,032 people
• City population: 55,032
• Metro: Enid, OK
• Population (ZIP): 30,556
• Household income: $73,333
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 702.0

Population outlook (Garfield County) Hauer SSP2

• Today (2025): 69,026 people
• By 2030: 72,171 · +4.6%
• By 2040: 79,366 · +15.0%
• By 2050: 87,847 · +27.3%
• By 2075: 112,714 · +63.3%
• By 2100: 135,682 · +96.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 9% Black 2% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 2% Slovak 2% Serbian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 1%

Political lean MEDSL · Garfield

• 2024 margin: Solid R (+53.8) · D 22.2% · R 76.0% · Other 1.8%
• 2008→2024 swing: -2.8pp toward R · 2008: -51.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+53.7 2016: R+53.5 2012: R+52.5 2008: R+51.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.61%
• Current HPI: 187.8197
• Rent YoY: ▲ 2.42%
• Metro: Enid, 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

+46.5% since first listed

6 events — show timeline

• 2026-04-22 Listed $115,000 NWOAR
• 2022-07-08 Sold (MLS) $85,000 NWOAR
• 2022-07-07 Sold (Public Records) $85,000 Public Records
• 2022-03-16 Listed $85,000 NWOAR
• 2018-01-05 Sold (Public Records) $53,000 Public Records
• 2015-12-16 Sold (Public Records) $78,500 Public Records

Property tax history

+11.0%/yr

Latest (2025): $1,147 · +4.3% YoY. Source: county tax records.