406 NW 56th St · Lawton, OK 73505

$122,000

3 bd · 2.0 ba · 940 sqft · SingleFamily public records · 40 Days on market

Built 1962

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.8/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This lovely home is in an established neighborhood and has recently had many updates. New granite countertops and flooring in the kitchen. New paint, updated ceiling fans, new electrical switches and outlets, a new HVAC system which includes a new return air system and thermostat. Roof and gutters have been replaced within the last 18 months. The home also has double pane energy efficient windows that drop in for cleaning. Let's not forget the garage door opener and a large fenced in backyard! Washer and dryer stay, however are not warrantied. You will fall in love with this cozy home! Please call Elizabeth James at 580-699-9651 to view it today!

Key facts

• Garage
• Built 1962
• Listed 40 days

Property features AI

Finance

• Financial info: Annual tax amount not included per instructions

Exterior

• Parking: Detached garage with 1 covered space and garage door opener; Total 1 parking space
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One story; Updated / remodeled; Zoned R-1 Single Family
• Construction: Brick veneer exterior; Crawl space foundation; Built/constructed year not provided
• Exterior features: Covered porch; Covered patio; Storm doors; Chain link and wood fencing; Composition roof

Interior

• Kitchen: Cooktop; Dishwasher; Refrigerator
• Bedrooms: Information about bedroom room levels not provided
• Flooring: Ceramic tile; Vinyl; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning; Electric cooling; Ceiling fans
• Interior features: Granite counters; Double-pane windows; Window coverings
• Laundry & utility: Washer and dryer included; Washer hookup in garage; Gas water heater; Laundry area in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $183 ($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 $119k (2.2% below list).
• Recommended offer: $118k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Edison Es (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 476 students, 0% FRL); Eisenhower Ms (math 20% / reading 30%, grade F, #90 of 345 statewide, top 27%, 1,035 students, 0% FRL); Eisenhower Hs (math 19% / reading 29%, grade F, #215 of 447 statewide, top 48%, 1,350 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 rising fast (+5.1%/yr); 398 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 $843 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 40 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $122k implies a 171% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $118,340 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1962 — 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: 0.98% ✗
• Cap rate: 8.09%
• Cash-on-cash: 6.43%
• DSCR: 1.29
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $76,140
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 NW 56th St	0.00mi	3/1.0	950 (+1%)	0mo	$110,000	$116	94
5341 NW Glenn Ave	0.29mi	3/1.0	930 (-1%)	1mo	$135,000	$145	80
5333 NW Euclid Ave	0.17mi	3/1.0	900 (-4%)	3mo	$102,000	$113	78
704 NW 57th St	0.25mi	3/1.5	1,000 (+6%)	4mo	$70,000	$70	73
6102 NW Euclid Ave	0.33mi	3/1.0	1,000 (+6%)	7mo	$85,000	$85	64
511 NW 59th St	0.20mi	2/1.0 (-1)	875 (-7%)	8mo	$67,000	$77	64
6118 NW Euclid Ave	0.41mi	3/1.0	990 (+5%)	7mo	$90,000	$91	62
407 NW Compass Dr	0.47mi	3/1.5	1,000 (+6%)	4mo	$70,000	$70	62
6111 NW Maple Ave	0.65mi	3/2.0	1,000 (+6%)	4mo	$70,000	$70	56
5369 NW Oak Ave	0.62mi	3/1.0	900 (-4%)	7mo	$63,000	$70	54
6213 NW Cherry Ave	0.61mi	3/1.0	800 (-15%)	3mo	$56,000	$70	40
6435 NW Compass Dr	0.73mi	3/1.0	800 (-15%)	3mo	$65,100	$81	35

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 · 5.14% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-5,515
• Equity at exit: $18,191

10-year hold

• IRR: 7.6%
• Equity multiple: 1.62×
• Total profit: $21,334
• Equity at exit: $10,548

Cash invested: $34,160 (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 73505

• Rents YoY: 5.1%
• Active inventory: 398
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,194 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $183

Break-even live

Break-even rent $962

Max offer price $122,000

Occupancy floor 80%

Sensitivity live

Price	-10% $252	-5% $218	+0% $183	+5% $149	+10% $114
Rent	-10% $89	-5% $136	+0% $183	+5% $230	+10% $277
Rate	-1.0pp $245	-0.5pp $214	base $183	+0.5pp $151	+1.0pp $119

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-19
   status Pending
2. 2026-04-28
   historical Active Under Contract
3. 2026-04-03
   listed $122,000 Active
4. 2000-09-06
   soldstatus $45,000

ⓘ 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: $831 · $69/mo
• Projected year-2 tax: $1,098 · $92/mo
• Expected delta: +$267/yr (+$22/mo · 32.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°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: $14,324
• − Mortgage interest: −$6,834
• − Property taxes: −$831
• − Insurance: −$610
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$3,549
• Taxable income: $208
• Est. tax owed @ 24.0%: −$50
• After-tax cash flow: $2,147/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): 47,790
• Household income: $58,272
• Rent vs Own: 48.2% rent · 51.8% own
• Severe rent burden: 1986.0

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 0.70)
• Race & ethnicity: White 50% Black 17% Two or more races 16% Hispanic / Latino 16% Native American 4% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 6% German/W. Germanic 2% Korean 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: ▼ -134.88%
• Current HPI: 169.4524
• Rent YoY: ▲ 5.14%
• 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

+171.1% since first listed

4 events — show timeline

• 2026-05-19 Pending — LBRMLS
• 2026-04-28 Contingent — LBRMLS
• 2026-04-03 Listed $122,000 LBRMLS
• 2000-09-06 Sold (Public Records) $45,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $831 · +4.7% YoY. Source: county tax records.