408 NW 3rd St · Lawton, OK 73507

$125,000

6 bd · 3.0 ba · 1,701 sqft · SingleFamily public records · 140 Days on market

Built 1941 7,500 sqft lot ↓ 30% since listing

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Income-Producing Triplex in Lawton. This investment opportunity features three spacious 2-bedroom units listed for $125,000. Ideally positioned for an investor looking for immediate cash flow plus upside, the property is currently generating $1,300/month from two occupied units. The center unit (410) requires full renovation, offering a clear path to force appreciation and increase the rent roll. Current market rates support a projected rent of $650/unit ($1,950/month total) once fully stabilized. Portfolio Option: This property can be purchased individually or combined with the adjacent listing, 402 NW 3rd St (6 studios listed at $125,000), to create a 9-unit portfolio. Sold As-Is. Please

Key facts

• Three spacious units
• 7,500 sq ft lot
• Built 1941

Tags

• INCOME-PRODUCING TRIPLEX
• THREE SPACIOUS UNITS
• CURRENTLY GENERATING CASH FLOW
• PROJECTED RENT OF $650/UNIT

Property features AI

Finance

• Other: Occupied (rented/leased); Property listed as existing; Located in a designated legal addition: NORTH BLK 19 LOT 1
• Financial info: Sold as-is; cash offers accepted; Not assumable

Exterior

• Home design: One-level property; Residential income (Triplex)
• Construction: Concrete, frame, and stucco construction; Metal roof; Slab foundation
• Exterior features: Corner lot; Interior lot; Other lot features; Yard

Interior

• Kitchen: Refrigerator; Water heater
• Bedrooms: 6 bedrooms
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Window unit(s) for cooling
• Interior features: Carpet; Yard

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 6.1% in Lawton — 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 (#206 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, commute F.
• Lawton (urban): math 20% / reading 26% proficiency, ranked #137 of 270 in OK (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 401 students, 0% FRL); Lawton Hs (math 16% / reading 21%, grade F, #302 of 447 statewide, top 68%, 1,417 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 208 active listings in the ZIP; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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 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?
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: 1.13% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.25% rent growth · sell at horizon

5-year hold

• IRR: -3.1%
• Equity multiple: 0.89×
• Total profit: $-4,003
• Equity at exit: $18,638

10-year hold

• IRR: 3.4%
• Equity multiple: 1.22×
• Total profit: $7,529
• Equity at exit: $10,808

Cash invested: $35,000 (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 73507

• Home prices YoY: -23.2%
• Rents YoY: 0.2%
• Active inventory: 208
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $315

Break-even live

Break-even rent $1,012

Max offer price $125,000

Occupancy floor 73%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $125,000 Active 140 DOM
2. 2026-06-18
   days on market $125,000 Active 139 DOM
3. 2026-06-17
   days on market $125,000 Active 138 DOM
4. 2026-06-16
   days on market $125,000 Active 137 DOM
5. 2026-06-15
   days on market $125,000 Active 136 DOM
6. 2026-06-14
   days on market $125,000 Active 134 DOM
7. 2026-06-13
   days on market $125,000 Active 133 DOM
8. 2026-06-10
   days on market $125,000 Active 131 DOM
9. 2026-06-09
   days on market $125,000 Active 130 DOM
10. 2026-06-08
    days on market $125,000 Active 129 DOM
11. 2026-06-07
    days on market $125,000 Active 128 DOM
12. 2026-06-05
    days on market $125,000 Active 125 DOM
13. 2026-06-03
    days on market $125,000 Active 124 DOM
14. 2026-06-02
    days on market $125,000 Active 123 DOM
15. 2026-06-01
    days on market $125,000 Active 122 DOM
16. 2026-05-31
    days on market $125,000 Active 121 DOM
17. 2026-05-30
    days on market $125,000 Active 120 DOM
18. 2026-01-30
    listed $125,000 Active
19. 2026-01-01
    status Active
20. 2025-12-31
    historical
21. 2025-08-18
    listed $130,000 Active
22. 2024-05-20
    soldstatus $190,000
23. 2024-05-20
    soldstatus $205,000
24. 2023-04-20
    soldstatus $170,000
25. 2021-10-06
    soldstatus $178,500

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $1,125 · $94/mo
• Expected delta: +$26/yr (+$2/mo · 2.4%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $16,926
• − Mortgage interest: −$7,002
• − Property taxes: −$1,099
• − Insurance: −$625
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$3,636
• Taxable income: $1,855
• Est. tax owed @ 24.0%: −$445
• After-tax cash flow: $3,336/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: Lawton
• NCES district ID: 4017250
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $42,618
• Composite: 19.68/100
• National rank: #8732
• State rank: #137 of 270 in OK

Livability — Lawton

• Score: 63/100
• State rank: #206
• US rank: #15131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawton, OK
• County: Comanche County · 96,361 people
• City population: 89,233
• Metro: Lawton, OK
• Population (ZIP): 21,046
• Household income: $62,132
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 979.0

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 124,518 people
• By 2030: 124,231 · -0.2%
• By 2040: 122,193 · -1.9%
• By 2050: 120,368 · -3.3%
• By 2075: 120,492 · -3.2%
• By 2100: 123,113 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 56% Hispanic / Latino 14% Two or more races 13% Black 13% Native American 7% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 4%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 6% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Comanche

• 2024 margin: Strong R (+23.3) · D 37.4% · R 60.7% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -17.5pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+20.1 2016: R+23.7 2012: R+17.0 2008: R+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.48%
• Current HPI: 127.057
• Rent YoY: ▲ 0.25%
• Metro: Lawton, 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

-30.0% since first listed

8 events — show timeline

• 2026-01-30 Listed $125,000 MLSOK
• 2026-01-01 Relisted — MLSOK
• 2025-12-31 Listing Removed — MLSOK
• 2025-08-18 Listed $130,000 MLSOK
• 2024-05-20 Sold (Public Records) $205,000 Public Records
• 2024-05-20 Sold (Public Records) $190,000 Public Records
• 2023-04-20 Sold (Public Records) $170,000 Public Records
• 2021-10-06 Sold (Public Records) $178,500 Public Records

Property tax history

+10.6%/yr

Latest (2025): $1,099 · +52.4% YoY. Source: county tax records.