505 Mars St · Altus, OK 73521

$52,500

3 bd · 1.0 ba · 748 sqft · SingleFamily public records · 49 Days on market

Built 1962 8,621 sqft lot Est $56k · 6% 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 +10.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Great starter home or investment opportunity! This super cute brick home has 3 bedrooms, 1 bathroom and an attached 1 car garage. The interior has recently been painted a light grey, and the bathroom has been updated with a tile shower/tub surround. Refrigerator, washer & dryer included! Backyard is fully fenced & has a mature tree. Come see!

Key facts

• 8,621 sq ft lot
• Garage
• Built 1962

Property features AI

Finance

• Other: Homestead not claimed; No storm shelter; Located in the Star addition; Directions: From Main St east on Ridgecrest, south on Jupiter and east on Mars
• Financial info: Listing terms: Cash, Conventional; Loan qualification: Buyers may qualify; Property is REO / Bank Owned
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Assessor-provided living area: 748 sq ft
• Home design: Single family residence; One level; Faces south; Residential property
• Construction: Masonry veneer exterior; Composition roof; Slab foundation; Existing property (not new)
• Exterior features: Covered porch; Chain link fence; Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $52k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 Es (math 27% / reading 17%, grade F, #413 of 845 statewide, top 54%, 408 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 $363 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $10k (15%) 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 $50,925 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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. 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: 1.82% ✓
• Cap rate: 15.39%
• Cash-on-cash: 32.47%
• DSCR: 2.44
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $56,100
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 E Katy Dr	0.52mi	2/1.0 (-1)	739 (-1%)	9mo	$55,500	$75	62
925 E Katy Dr	0.62mi	2/1.0 (-1)	744 (-0%)	9mo	$65,000	$87	58
929 E Katy Dr	0.63mi	2/1.0 (-1)	772 (+3%)	17mo	$12,000	$16	46

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: 27.6%
• Equity multiple: 2.15×
• Total profit: $16,838
• Equity at exit: $7,828

10-year hold

• IRR: 35.1%
• Equity multiple: 4.22×
• Total profit: $47,328
• Equity at exit: $4,539

Cash invested: $14,700 (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: 4.6×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$275
• Tax from tax record: −$59 /mo · $707/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $398

Break-even live

Break-even rent $451

Max offer price $52,500

Occupancy floor 53%

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: $13,125
• Closing costs: $1,575
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-07
   statusdays on market $52,500 Pending 49 DOM
2. 2026-06-04
   pricedays on market $52,500 Active 47 DOM
3. 2026-06-02
   days on market $62,000 Active 46 DOM
4. 2026-06-01
   days on market $62,000 Active 45 DOM
5. 2026-05-31
   days on market $62,000 Active 44 DOM
6. 2026-04-17
   listed $62,000 Active
7. 2022-08-22
   soldstatus $65,000
8. 2022-08-19
   soldstatus $65,000 Sold 352-char remark

   Show marketing remark (352 chars)

   Great starter home or investment opportunity! This super cute brick home has 3 bedrooms, 1 bathroom and an attached 1 car garage. The interior has recently been painted a light grey, and the bathroom has been updated with a tile shower/tub surround. Refrigerator, washer & dryer included! Backyard is fully fenced & has a mature tree. Come see!

9. 2022-07-06
   status Pending 352-char remark

   Show marketing remark (352 chars)

   Great starter home or investment opportunity! This super cute brick home has 3 bedrooms, 1 bathroom and an attached 1 car garage. The interior has recently been painted a light grey, and the bathroom has been updated with a tile shower/tub surround. Refrigerator, washer & dryer included! Backyard is fully fenced & has a mature tree. Come see!

10. 2022-07-03
    status Active 352-char remark

    Show marketing remark (352 chars)

    Great starter home or investment opportunity! This super cute brick home has 3 bedrooms, 1 bathroom and an attached 1 car garage. The interior has recently been painted a light grey, and the bathroom has been updated with a tile shower/tub surround. Refrigerator, washer & dryer included! Backyard is fully fenced & has a mature tree. Come see!

11. 2022-06-29
    status Pending 352-char remark

    Show marketing remark (352 chars)

    Great starter home or investment opportunity! This super cute brick home has 3 bedrooms, 1 bathroom and an attached 1 car garage. The interior has recently been painted a light grey, and the bathroom has been updated with a tile shower/tub surround. Refrigerator, washer & dryer included! Backyard is fully fenced & has a mature tree. Come see!

12. 2022-05-26
    listed $65,000 Active 352-char remark

    Show marketing remark (352 chars)

    Great starter home or investment opportunity! This super cute brick home has 3 bedrooms, 1 bathroom and an attached 1 car garage. The interior has recently been painted a light grey, and the bathroom has been updated with a tile shower/tub surround. Refrigerator, washer & dryer included! Backyard is fully fenced & has a mature tree. Come see!

13. 2016-08-09
    soldstatus $40,000
14. 2016-08-05
    soldstatus $40,000 64-char remark

    Show marketing remark (64 chars)

    One owner home in very good condition 3 BR 1 Bath move in ready.

15. 2015-11-16
    listed $38,000 64-char remark

    Show marketing remark (64 chars)

    One owner home in very good condition 3 BR 1 Bath move in ready.

ⓘ 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: $707 · $59/mo
• Projected year-2 tax: $707 · $59/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 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: $11,452
• − Mortgage interest: −$2,941
• − Property taxes: −$707
• − Insurance: −$262
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$1,527
• Taxable income: $4,182
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $3,770/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

+63.2% since first listed

10 events — show timeline

• 2026-04-17 Listed $62,000 MLSOK
• 2022-08-22 Sold (Public Records) $65,000 Public Records
• 2022-08-19 Sold (MLS) $65,000 MLSOK
• 2022-07-06 Pending — MLSOK
• 2022-07-03 Relisted — MLSOK
• 2022-06-29 Pending — MLSOK
• 2022-05-26 Listed $65,000 MLSOK
• 2016-08-09 Sold (Public Records) $40,000 Public Records
• 2016-08-05 Sold (MLS) $40,000 MLSOK
• 2015-11-16 Listed $38,000 MLSOK

Property tax history

+19.7%/yr

Latest (2025): $707 · +1.3% YoY. Source: county tax records.