21281 E 987 Rd · Foss, OK 73647

$149,000

3 bd · 2.0 ba · 1,968 sqft · SingleFamily public records · 57 Days on market

Built 1980 3.00 ac lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.6/10.0
• DSCR +4.6/10.0
• Schools +3.3/10.0
• 1% rule +3.2/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

Key facts

• Cutberth boat ramp
• Spacious living area
• Lake property

Tags

• LAKE PROPERTY
• NORTH SIDE OF FOSS LAKE
• CUTBERTH BOAT RAMP
• SPACIOUS LIVING AREA
• AMPLE SPACE FOR RV PARKING
• BEAUTIFUL LAKE VIEWS

Property features AI

Finance

• Other: Approximately 3 acres
• Financial info: Listing offered As Is; acceptable financing: Cash or Conventional; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Utilities: Rural water; Septic tank
• Home design: Single-family residence; One story; Residential property in a rural addition; Existing property
• Construction: Metal siding; Metal roof; Combination foundation; Homestead-eligible
• Exterior features: Outbuildings; Pasture and rural setting; Water view; Below-ground and outdoor storm shelter

Interior

• Kitchen: Range
• Bedrooms: Four bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Two wood-burning fireplaces; One living area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $47 ($564/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 $122k (18.1% below list).
• Recommended offer: $122k (18.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 51/100 on livability (#656 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Arapaho-Butler (rural): math 35% / reading 42% proficiency, ranked #22 of 270 in OK (top 8%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $106k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $122,021 (18.1% 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 18% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $340,464
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21303 E 990 Rd	0.35mi	3/2.0	2,000 (+2%)	22mo	$345,000	$173	63

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.18×
• Total profit: $7,627
• Equity at exit: $52,885

10-year hold

• IRR: 7.8%
• Equity multiple: 1.97×
• Total profit: $40,632
• Equity at exit: $71,867

Cash invested: $41,720 (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 73647

• Home prices YoY: 0.8%
• Active inventory: 14
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$74 /mo · $882/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $47

Break-even live

Break-even rent $1,161

Max offer price $149,000

Occupancy floor 91%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $149,000 Active 57 DOM
2. 2026-06-17
   days on market $149,000 Active 56 DOM
3. 2026-06-16
   days on market $149,000 Active 55 DOM
4. 2026-06-15
   days on market $149,000 Active 54 DOM
5. 2026-06-13
   days on market $149,000 Active 52 DOM
6. 2026-06-12
   days on market $149,000 Active 51 DOM
7. 2026-06-09
   days on market $149,000 Active 48 DOM
8. 2026-06-08
   days on market $149,000 Active 47 DOM
9. 2026-06-08
   days on market $149,000 Active 46 DOM
10. 2026-06-07
    days on market $149,000 Active 45 DOM
11. 2026-06-04
    days on market $149,000 Active 42 DOM
12. 2026-06-02
    days on market $149,000 Active 41 DOM
13. 2026-06-01
    days on market $149,000 Active 40 DOM
14. 2026-05-31
    days on market $149,000 Active 39 DOM
15. 2026-04-21
    listed $149,000 Active
16. 2025-09-12
    soldstatus $105,500
17. 2025-09-05
    soldstatus $105,500 Closed 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

18. 2025-08-07
    status Pending 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

19. 2025-08-01
    price $125,000 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

20. 2025-07-31
    status Active 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

21. 2025-07-17
    status Active 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

22. 2025-07-10
    status Pending 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

23. 2025-07-10
    listed $135,000 Active 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

24. 2025-07-10
    price $155,000 541-char remark

    Show marketing remark (541 chars)

    I wanted to share an exciting opportunity for you to own a lake house on the north side of Foss Lake. This property features: - **4 Bedrooms, 2 Baths** - **Spacious Living Room** that seamlessly connects to the kitchen, ideal for gatherings - **3 Acres of Land** with ample room for RVs or whatever you desire - **Beautiful Views** of the lake from the front porch This is a perfect chance to make your dream of lakefront living a reality. Don't miss out on this beautiful place! The property is sold as is. This is a great fixer upper.

25. 2024-10-24
    soldstatus $148,000
26. 2024-10-17
    soldstatus $148,000 Closed 808-char remark

    Show marketing remark (808 chars)

    Imagine a picturesque piece of land nestled close to Cutberth Boat Ramp and Campground. These 4.5 acres offers breathtaking views of the sparkling lake and surrounding natural beauty. It's the perfect opportunity to build your dream home or create a peaceful retreat. The shop is a Morton building is a 40x60 with 2 walk in doors and big slider doors that open up to 18 feet. The property has a water well that has just had a new pump put in February with a 3/4 hp motor. Barn is wired with 220 and 110. There is also a slab in front of shop that would make a great place to pull you RV. Don't miss out on this amazing chance to own a slice of paradise! Access to Rural water. Lines marking the acre is approximant, buyer to confirm boundary and legal through survey. Realtor is related to sellers.

27. 2024-10-03
    status Pending 808-char remark

    Show marketing remark (808 chars)

    Imagine a picturesque piece of land nestled close to Cutberth Boat Ramp and Campground. These 4.5 acres offers breathtaking views of the sparkling lake and surrounding natural beauty. It's the perfect opportunity to build your dream home or create a peaceful retreat. The shop is a Morton building is a 40x60 with 2 walk in doors and big slider doors that open up to 18 feet. The property has a water well that has just had a new pump put in February with a 3/4 hp motor. Barn is wired with 220 and 110. There is also a slab in front of shop that would make a great place to pull you RV. Don't miss out on this amazing chance to own a slice of paradise! Access to Rural water. Lines marking the acre is approximant, buyer to confirm boundary and legal through survey. Realtor is related to sellers.

28. 2024-08-19
    price $155,000 808-char remark

    Show marketing remark (808 chars)

    Imagine a picturesque piece of land nestled close to Cutberth Boat Ramp and Campground. These 4.5 acres offers breathtaking views of the sparkling lake and surrounding natural beauty. It's the perfect opportunity to build your dream home or create a peaceful retreat. The shop is a Morton building is a 40x60 with 2 walk in doors and big slider doors that open up to 18 feet. The property has a water well that has just had a new pump put in February with a 3/4 hp motor. Barn is wired with 220 and 110. There is also a slab in front of shop that would make a great place to pull you RV. Don't miss out on this amazing chance to own a slice of paradise! Access to Rural water. Lines marking the acre is approximant, buyer to confirm boundary and legal through survey. Realtor is related to sellers.

29. 2024-06-27
    price $160,000 808-char remark

    Show marketing remark (808 chars)

    Imagine a picturesque piece of land nestled close to Cutberth Boat Ramp and Campground. These 4.5 acres offers breathtaking views of the sparkling lake and surrounding natural beauty. It's the perfect opportunity to build your dream home or create a peaceful retreat. The shop is a Morton building is a 40x60 with 2 walk in doors and big slider doors that open up to 18 feet. The property has a water well that has just had a new pump put in February with a 3/4 hp motor. Barn is wired with 220 and 110. There is also a slab in front of shop that would make a great place to pull you RV. Don't miss out on this amazing chance to own a slice of paradise! Access to Rural water. Lines marking the acre is approximant, buyer to confirm boundary and legal through survey. Realtor is related to sellers.

30. 2024-04-01
    price $175,000 808-char remark

    Show marketing remark (808 chars)

    Imagine a picturesque piece of land nestled close to Cutberth Boat Ramp and Campground. These 4.5 acres offers breathtaking views of the sparkling lake and surrounding natural beauty. It's the perfect opportunity to build your dream home or create a peaceful retreat. The shop is a Morton building is a 40x60 with 2 walk in doors and big slider doors that open up to 18 feet. The property has a water well that has just had a new pump put in February with a 3/4 hp motor. Barn is wired with 220 and 110. There is also a slab in front of shop that would make a great place to pull you RV. Don't miss out on this amazing chance to own a slice of paradise! Access to Rural water. Lines marking the acre is approximant, buyer to confirm boundary and legal through survey. Realtor is related to sellers.

31. 2024-02-14
    listed $100,000 Active 808-char remark

    Show marketing remark (808 chars)

    Imagine a picturesque piece of land nestled close to Cutberth Boat Ramp and Campground. These 4.5 acres offers breathtaking views of the sparkling lake and surrounding natural beauty. It's the perfect opportunity to build your dream home or create a peaceful retreat. The shop is a Morton building is a 40x60 with 2 walk in doors and big slider doors that open up to 18 feet. The property has a water well that has just had a new pump put in February with a 3/4 hp motor. Barn is wired with 220 and 110. There is also a slab in front of shop that would make a great place to pull you RV. Don't miss out on this amazing chance to own a slice of paradise! Access to Rural water. Lines marking the acre is approximant, buyer to confirm boundary and legal through survey. Realtor is related to sellers.

ⓘ 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: $882 · $74/mo
• Projected year-2 tax: $1,341 · $112/mo
• Expected delta: +$459/yr (+$38/mo · 52.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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: $14,643
• − Mortgage interest: −$8,346
• − Property taxes: −$882
• − Insurance: −$745
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$4,335
• Taxable loss: −$2,008
• Est. tax savings @ 24.0%: +$482
• After-tax cash flow: $1,046/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: Arapaho-Butler
• NCES district ID: 4003120
• Math proficiency: 35% ▼ -14.00%
• Reading proficiency: 42% ▼ -4.00%
• Median HH income: $49,955
• Composite: 33.22/100
• National rank: #5526
• State rank: #22 of 270 in OK

Livability — Foss

• Score: 51/100
• State rank: #656
• US rank: #25242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 691

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 (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3% Native American 1%
• Common ancestry: Iranian 3% Serbian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

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: ▲ 1.26%
• Current HPI: 168.3314
• 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

+49.0% since first listed

17 events — show timeline

• 2026-04-21 Listed $149,000 MLSOK
• 2025-09-12 Sold (Public Records) $105,500 Public Records
• 2025-09-05 Sold (MLS) $105,500 MLSOK
• 2025-08-07 Pending — MLSOK
• 2025-08-01 Price Changed $125,000 MLSOK
• 2025-07-31 Relisted — MLSOK
• 2025-07-17 Relisted — MLSOK
• 2025-07-10 Pending — MLSOK
• 2025-07-10 Listed $135,000 MLSOK
• 2025-07-10 Price Changed $155,000 MLSOK
• 2024-10-24 Sold (Public Records) $148,000 Public Records
• 2024-10-17 Sold (MLS) $148,000 MLSOK
• 2024-10-03 Pending — MLSOK
• 2024-08-19 Price Changed $155,000 MLSOK
• 2024-06-27 Price Changed $160,000 MLSOK
• 2024-04-01 Price Changed $175,000 MLSOK
• 2024-02-14 Listed $100,000 MLSOK

Property tax history

+1.6%/yr

Latest (2025): $882 · -17.8% YoY. Source: county tax records.