1700 N Lee St · Altus, OK 73521

$118,000

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 47 Days on market

Built 1960 9,270 sqft lot Est $123k · at est.

---

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 +20.6/30.0
• ARV discount +9.4/15.0
• DSCR +6.6/10.0
• 1% rule +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cozy, three bedroom makes a great starter home! The living room has carpet and can-lighting. The kitchen area has vinyl flooring and a gas stove appliance. Wood floors in dining and one bedroom. The other bedrooms have carpet. The bathroom has double vanities and shower/tub combination. One car garage with an automatic door opener. Other updates include new HVAC system.

Key facts

• Single-car garage
• 9,270 sq ft lot
• Garage

Tags

• ORIGINAL WOOD FLOORING
• FULLY FENCED BACKYARD
• SINGLE-CAR GARAGE

Property features AI

Finance

• Other: Property is occupied: no; No home warranty; Listed as Active; previously Pending with a price decrease; Days on market: 42
• Financial info: Loan qualification: yes; Assumable: no; Current price listed (per listing): $118,000
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: No flood insurance required
• Home design: Single-family residence; One story; Residential property; Existing property
• Construction: Brick and frame construction; Composition roof; Slab foundation; Built prior to 2026
• Exterior features: Covered porch; Lot features: Other; Homestead exempt

Interior

• Bedrooms: 3 bedrooms (all on one level)
• Bathrooms: 1 full bathroom
• Interior features: No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/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 $113k (4.1% below list).
• Recommended offer: $113k (4.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.7% in Altus — 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 65/100 on livability (#151 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Altus (town): math 31% / reading 28% proficiency, ranked #69 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Altus Early Childhood Center (390 students, 0% FRL); Altus Hs (math 21% / reading 26%, grade F, #218 of 447 statewide, top 49%, 921 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 165 active listings in the ZIP; 8 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jackson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $12k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,192 (4.1% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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.
6. 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.
7. 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: 0.96% ✗
• Cap rate: 7.90%
• Cash-on-cash: 5.76%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $123,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 W Judy Ave	0.41mi	3/1.0	1,204 (-2%)	1mo	$77,500	$64	76
1424 N Lee St	0.20mi	2/1.0 (-1)	1,126 (-9%)	4mo	$49,900	$44	68
1731 N Crain Dr	0.19mi	3/1.0	1,345 (+9%)	11mo	$157,000	$117	67
711 W Martha St	0.39mi	3/1.5	1,120 (-9%)	4mo	$117,000	$104	61
1422 N Hudson St	0.21mi	3/1.5	1,399 (+14%)	5mo	$140,000	$100	61
1419 N Lee St	0.21mi	3/2.0	1,350 (+10%)	12mo	$122,000	$90	61
509 W Bradford Ave	0.31mi	3/1.0	1,365 (+11%)	11mo	$113,000	$83	58
2421 Cherokee Strip	0.72mi	3/2.0	1,208 (-2%)	7mo	$165,000	$137	53
900 N Grady St	0.69mi	3/2.0	1,216 (-1%)	12mo	$150,000	$123	52
1020 N Willard St	0.54mi	3/1.0	1,373 (+11%)	10mo	$60,000	$44	48
2505 N Robin St	0.64mi	3/2.0	1,358 (+10%)	4mo	$246,900	$182	46
901 N Lee St	0.65mi	2/1.0 (-1)	1,095 (-11%)	2mo	$30,000	$27	44

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: -7.4%
• Equity multiple: 0.73×
• Total profit: $-9,058
• Equity at exit: $17,594

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $4,981
• Equity at exit: $10,202

Cash invested: $33,040 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 165
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,132 medium
• Mortgage (P&I): −$619
• Tax from tax record: −$68 /mo · $813/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $158

Break-even live

Break-even rent $931

Max offer price $118,000

Occupancy floor 81%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-14
   status Pending
2. 2026-04-28
   price $118,000
3. 2026-04-14
   price $124,900
4. 2026-03-28
   status Active
5. 2026-03-24
   status Pending
6. 2026-03-12
   listed $129,900 Active
7. 2023-01-09
   soldstatus $118,900 Closed 377-char remark

   Show marketing remark (377 chars)

   This cozy, three bedroom makes a great starter home! The living room has carpet and can-lighting. The kitchen area has vinyl flooring and a gas stove appliance. Wood floors in dining and one bedroom. The other bedrooms have carpet. The bathroom has double vanities and shower/tub combination. One car garage with an automatic door opener. Other updates include new HVAC system.

8. 2023-01-04
   soldstatus $118,900
9. 2022-12-14
   status Pending 377-char remark

   Show marketing remark (377 chars)

   This cozy, three bedroom makes a great starter home! The living room has carpet and can-lighting. The kitchen area has vinyl flooring and a gas stove appliance. Wood floors in dining and one bedroom. The other bedrooms have carpet. The bathroom has double vanities and shower/tub combination. One car garage with an automatic door opener. Other updates include new HVAC system.

10. 2022-11-23
    listed $109,900 Active 377-char remark

    Show marketing remark (377 chars)

    This cozy, three bedroom makes a great starter home! The living room has carpet and can-lighting. The kitchen area has vinyl flooring and a gas stove appliance. Wood floors in dining and one bedroom. The other bedrooms have carpet. The bathroom has double vanities and shower/tub combination. One car garage with an automatic door opener. Other updates include new HVAC system.

11. 2022-06-22
    soldstatus $87,000
12. 2022-06-21
    soldstatus $87,000 Sold 590-char remark

    Show marketing remark (590 chars)

    Great starter home or investment. Kitchen has gas range, dishwasher, and refrigerator. Kitchen has vinyl flooring. Tiled counters and back splash in the kitchen and bathroom. Canned lighting in the living a coat closet, Living room has carpet and vinyl at the front entry. The bathroom has double vanities with new sinks and a tub/shower combination and vinyl flooring. Wood floors in dining and one bedroom. The others have carpet. All bedrooms have ceiling fans. Central air and heat. Chain link fence. Storage building. One car garage with an electric opener. Vinyl siding. Easy access.

13. 2022-05-11
    status Pending 590-char remark

    Show marketing remark (590 chars)

    Great starter home or investment. Kitchen has gas range, dishwasher, and refrigerator. Kitchen has vinyl flooring. Tiled counters and back splash in the kitchen and bathroom. Canned lighting in the living a coat closet, Living room has carpet and vinyl at the front entry. The bathroom has double vanities with new sinks and a tub/shower combination and vinyl flooring. Wood floors in dining and one bedroom. The others have carpet. All bedrooms have ceiling fans. Central air and heat. Chain link fence. Storage building. One car garage with an electric opener. Vinyl siding. Easy access.

14. 2022-05-06
    listed $82,000 Active 590-char remark

    Show marketing remark (590 chars)

    Great starter home or investment. Kitchen has gas range, dishwasher, and refrigerator. Kitchen has vinyl flooring. Tiled counters and back splash in the kitchen and bathroom. Canned lighting in the living a coat closet, Living room has carpet and vinyl at the front entry. The bathroom has double vanities with new sinks and a tub/shower combination and vinyl flooring. Wood floors in dining and one bedroom. The others have carpet. All bedrooms have ceiling fans. Central air and heat. Chain link fence. Storage building. One car garage with an electric opener. Vinyl siding. Easy access.

15. 2009-02-17
    soldstatus $65,000
16. 1998-08-27
    soldstatus $50,000

ⓘ 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: $813 · $68/mo
• Projected year-2 tax: $1,062 · $88/mo
• Expected delta: +$249/yr (+$21/mo · 30.6%)

ⓘ 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 ≥108°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: $13,583
• − Mortgage interest: −$6,610
• − Property taxes: −$813
• − Insurance: −$590
• − Repairs & maintenance: −$1,087
• − Management: −$1,087
• − Depreciation: −$3,433
• Taxable loss: −$36
• Est. tax savings @ 24.0%: +$9
• After-tax cash flow: $1,911/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: Altus
• NCES district ID: 4002850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $40,607
• Composite: 24.91/100
• National rank: #7574
• State rank: #69 of 270 in OK

Livability — Altus

• Score: 65/100
• State rank: #151
• US rank: #13386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altus, OK
• City population: 20,574
• Population (ZIP): 20,352

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 24,084 people
• By 2030: 23,476 · -2.5%
• By 2040: 22,731 · -5.6%
• By 2050: 22,586 · -6.2%
• By 2075: 25,413 · +5.5%
• By 2100: 31,069 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 15% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.3) · D 19.9% · R 78.2% · Other 1.9%
• 2008→2024 swing: -8.7pp toward R · 2008: -49.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.7 2016: R+57.6 2012: R+50.7 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.26%
• Current HPI: 178.7106
• 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

+136.0% since first listed

16 events — show timeline

• 2026-05-14 Pending — MLSOK
• 2026-04-28 Price Changed $118,000 MLSOK
• 2026-04-14 Price Changed $124,900 MLSOK
• 2026-03-28 Relisted — MLSOK
• 2026-03-24 Pending — MLSOK
• 2026-03-12 Listed $129,900 MLSOK
• 2023-01-09 Sold (MLS) $118,900 MLSOK
• 2023-01-04 Sold (Public Records) $118,900 Public Records
• 2022-12-14 Pending — MLSOK
• 2022-11-23 Listed $109,900 MLSOK
• 2022-06-22 Sold (Public Records) $87,000 Public Records
• 2022-06-21 Sold (MLS) $87,000 MLSOK
• 2022-05-11 Pending — MLSOK
• 2022-05-06 Listed $82,000 MLSOK
• 2009-02-17 Sold (Public Records) $65,000 Public Records
• 1998-08-27 Sold (Public Records) $50,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $813 · -0.4% YoY. Source: county tax records.