400 N 10th St · Frederick, OK 73542

$89,900

3 bd · 2.0 ba · 1,859 sqft · SingleFamily public records · 251 Days on market

Built 1940 8,400 sqft lot Est $128k · 30% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Appreciation +3.3/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

INVESTOR SPECIAL! This 3 bedroom, 2 bath home is ready for you to make it your own! With a brand new roof, fresh paint, beautiful original hardwood floors, all it needs is your touch! Boasting over 1800 square feet of living space, there is plenty of space for family gatherings. Walk into the living area with over 8 ft ceilings, wood burning stove and so much charm. Built in 1940, this home has so much character, but with updates like the new roof to keep your mind at ease.

Key facts

• Over 8 ft ceilings
• New roof
• Wood burning stove

Tags

• NEW ROOF
• ORIGINAL HARDWOOD FLOORS
• WOOD BURNING STOVE
• OVER 8 FT CEILINGS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; One story; Corner lot; Public-maintained city street frontage
• Construction: Composition roof; Crawl space foundation; Updated/remodeled condition
• Exterior features: Covered patio/porch; Deck; Porch; Chain link fencing; Shed(s)

Interior

• Kitchen: Cooktop; Oven
• Bedrooms: Washer hookup in laundry area
• Flooring: Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Fireplace heating option; Central air; Ceiling fans; Electric cooling
• Interior features: Updated/remodeled interior; Wood-burning fireplace; Cooktop; Oven; Gas water heater
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#304 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Frederick (town): math 41% / reading 28% proficiency, ranked #46 of 270 in OK (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Frederick Es (math 57% / reading 27%, grade F, #84 of 845 statewide, top 11%, 386 students, 0% FRL); Frederick Ms (math 32% / reading 32%, grade F, #39 of 345 statewide, top 12%, 174 students, 0% FRL); Frederick Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 250 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tillman County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $16k; list at $90k implies a 462% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 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 1940 — 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 D 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: 1.40% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.96%
• DSCR: 1.98
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $128,271
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18064 Cr Ns 228	0.13mi	3/2.0	2,000 (+8%)	7mo	$650,000	$325	76
622 N 14th St	0.33mi	3/2.0	1,876 (+1%)	10mo	$89,000	$47	75
420 N 18th. St	0.56mi	3/2.0	1,863 (+0%)	8mo	$155,000	$83	67
106 N 13th St	0.29mi	3/2.0	1,995 (+7%)	21mo	$73,000	$37	57
707 E Grand Ave	0.49mi	3/2.0	1,700 (-9%)	11mo	$100,600	$59	54
710 N 16th St	0.47mi	3/2.0	1,980 (+6%)	16mo	$110,000	$56	54
521 N 16th St	0.40mi	3/2.0	1,700 (-9%)	17mo	$192,000	$113	52
601 Pine Tree Rd	0.58mi	3/2.0	1,966 (+6%)	17mo	$227,500	$116	49
600 N 18th St	0.58mi	3/2.5	1,900 (+2%)	23mo	$53,700	$28	48
322 N 18th St	0.56mi	4/1.0 (+1)	2,035 (+10%)	2mo	$159,900	$79	47
442 Circle Dr	0.63mi	3/2.0	1,600 (-14%)	3mo	$89,900	$56	45
520 N 17th St	0.50mi	2/2.0 (-1)	2,118 (+14%)	17mo	$147,000	$69	34

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: 14.6%
• Equity multiple: 1.59×
• Total profit: $14,734
• Equity at exit: $13,404

10-year hold

• IRR: 23.3%
• Equity multiple: 3.00×
• Total profit: $50,458
• Equity at exit: $7,773

Cash invested: $25,172 (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 73542

• Home prices YoY: -2.0%
• Active inventory: 31
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$22 /mo · $262/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $461

Break-even live

Break-even rent $672

Max offer price $89,900

Occupancy floor 58%

Sensitivity live

Price	-10% $512	-5% $486	+0% $461	+5% $435	+10% $410
Rent	-10% $361	-5% $411	+0% $461	+5% $510	+10% $560
Rate	-1.0pp $506	-0.5pp $483	base $461	+0.5pp $437	+1.0pp $414

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-19
   status Pending
2. 2026-03-05
   historical Active Under Contract
3. 2025-10-15
   price $89,900
4. 2025-09-09
   listed $99,900 Active
5. 2009-07-31
   soldstatus $16,000

ⓘ 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: $262 · $22/mo
• Projected year-2 tax: $809 · $67/mo
• Expected delta: +$547/yr (+$46/mo · 208.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 18 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: $15,059
• − Mortgage interest: −$5,036
• − Property taxes: −$262
• − Insurance: −$450
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$2,615
• Taxable income: $4,287
• Est. tax owed @ 24.0%: −$1,029
• After-tax cash flow: $4,499/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: Frederick
• NCES district ID: 4012150
• Math proficiency: 41% ▼ -2.00%
• Reading proficiency: 28% ▼ -13.00%
• Median HH income: $34,495
• Composite: 28.52/100
• National rank: #6735
• State rank: #46 of 270 in OK

Livability — Frederick

• Score: 61/100
• State rank: #304
• US rank: #17869

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frederick, OK
• Population (ZIP): 4,167

Population outlook (Tillman County) Hauer SSP2

• Today (2025): 6,949 people
• By 2030: 6,737 · -3.1%
• By 2040: 6,402 · -7.9%
• By 2050: 6,364 · -8.4%
• By 2075: 7,335 · +5.6%
• By 2100: 9,166 · +31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 13% Black 9% Native American 3%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 3% European 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · Tillman

• 2024 margin: Solid R (+59.5) · D 19.7% · R 79.2% · Other 1.1%
• 2008→2024 swing: -23.8pp toward R · 2008: -35.6pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+54.6 2016: R+47.6 2012: R+33.4 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.32%
• Current HPI: 159.0458
• 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

+461.9% since first listed

5 events — show timeline

• 2026-05-19 Pending — LBRMLS
• 2026-03-05 Contingent — LBRMLS
• 2025-10-15 Price Changed $89,900 LBRMLS
• 2025-09-09 Listed $99,900 LBRMLS
• 2009-07-31 Sold (Public Records) $16,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $262 · +6.1% YoY. Source: county tax records.