508 N Elm · Granite, OK 73547

$77,500

3 bd · 1.0 ba · 898 sqft · SingleFamily · 53 Days on market

Built 1925 Good condition 8,398 sqft lot Est $57k · 35% over ↓ 3% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Appreciation +5.9/10.0
• Schools +4.8/10.0
• Condition / age +3.8/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

This charming 3-bedroom, 1-bath home offers comfort, functionality, and value—making it a great fit for first-time buyers, downsizers, or investors looking to expand their portfolio. Inside, you’ll find fresh paint, updated ceiling fans, and a beautifully customized tile shower/tub combo that adds a modern touch. The home is equipped with central heat and air for year-round comfort, plus a gas wall heater for added efficiency. The kitchen and utility features include a gas range and gas water heater, providing both reliability and cost savings. Outside, enjoy a covered back porch perfect for relaxing or entertaining, along with a fully fenced backyard ideal for pets or privacy.

Key facts

• Metal storage shed
• Covered back porch
• 8,398 sq ft lot

Tags

• COVERED BACK PORCH
• FULLY FENCED BACKYARD
• METAL STORAGE SHED
• FRONT LOADING GABLE CARPORT
• EASY ACCESS TO AMENITIES

Property features AI

Finance

• Other: Occupied: No; Listing status: Active; Directions: From Bartlett St and 6th Street go east; home is on the south side of the street.
• Financial info: Not assumable; Loan qualification: Unknown; Current price listed (for reference only)
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: Homestead eligible
• Home design: Single family residence; Residential property; One-story; Existing property; Legal addition: Granite Original
• Construction: Frame construction with vinyl siding; Composition roof; Built status: existing
• Exterior features: Interior lot; No exterior amenities listed

Interior

• Bedrooms: 3 bedrooms (all on one level)
• Bathrooms: 1 full bathroom
• Interior features: One living area; No fireplace; Combination foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $78k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#119 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Granite (rural): math 60% / reading 50% proficiency, ranked #17 of 513 in OK (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Granite Es (math 17% / reading 27%, grade F, #413 of 845 statewide, top 54%, 158 students, 0% FRL); Granite Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 78 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 23% at this address vs 55% district-wide (-32 pts) — the specific schools serving this property underperform the Granite average; the district grade overstates school quality for this exact location.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($536 loan paydown + $1k appreciation (1.7% local appreciation)).
• Greer County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago 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 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,175 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1925 — 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: 1.36% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.45%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $57,472
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 N Elm St	0.08mi	2/1.0 (-1)	924 (+3%)	3mo	$84,000	$91	84
105 N Ada St	0.61mi	2/1.0 (-1)	896 (-0%)	20mo	$54,700	$61	50
305 N Ada St	0.56mi	2/1.0 (-1)	930 (+4%)	22mo	$59,500	$64	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.06×
• Total profit: $23,109
• Equity at exit: $29,324

10-year hold

• IRR: 22.4%
• Equity multiple: 3.88×
• Total profit: $62,558
• Equity at exit: $41,292

Cash invested: $21,700 (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 73547

• Home prices YoY: 1.5%
• Active inventory: 3
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,055 medium
• Mortgage (P&I): −$406
• Tax est. 1.5%: −$97 /mo · $1,162/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $298

Break-even live

Break-even rent $678

Max offer price $77,500

Occupancy floor 67%

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: $19,375
• Closing costs: $2,325
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $77,500 Active 53 DOM
2. 2026-06-17
   days on market $77,500 Active 52 DOM
3. 2026-06-16
   days on market $77,500 Active 51 DOM
4. 2026-06-15
   days on market $77,500 Active 50 DOM
5. 2026-06-13
   days on market $77,500 Active 48 DOM
6. 2026-06-12
   days on market $77,500 Active 47 DOM
7. 2026-06-09
   days on market $77,500 Active 44 DOM
8. 2026-06-08
   days on market $77,500 Active 43 DOM
9. 2026-06-08
   days on market $77,500 Active 42 DOM
10. 2026-06-05
    days on market $77,500 Active 40 DOM
11. 2026-06-04
    days on market $77,500 Active 38 DOM
12. 2026-06-02
    days on market $77,500 Active 37 DOM
13. 2026-06-01
    days on market $77,500 Active 36 DOM
14. 2026-05-31
    days on market $77,500 Active 35 DOM
15. 2026-04-26
    listed $77,500 Active
16. 2024-03-27
    historical
17. 2024-01-30
    listed $79,500 Active
18. 2023-12-14
    historical
19. 2023-10-13
    listed $79,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,655
• − Mortgage interest: −$4,341
• − Property taxes: −$1,162
• − Insurance: −$388
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$2,255
• Taxable income: $2,484
• Est. tax owed @ 24.0%: −$596
• After-tax cash flow: $2,974/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This charming 3-bedroom home offers a good condition with fresh paint and central heat and air. It needs some cosmetic updates to the kitchen and landscaping to maximize its value.

Repairs flagged

• Moderate kitchen cabinets — Older cabinets need updating
• Moderate backsplash — Dated backsplash needs replacement

Value-add opportunities

• Both New kitchen cabinets and backsplash — Modernizes kitchen and adds value
• Both Landscaping improvements — Enhances curb appeal and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Older cabinets need updating	Moderate	$3,000–15,000
backsplash · Dated backsplash needs replacement	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both New kitchen cabinets and backsplash — Modernizes kitchen and adds value ↑
• Both Landscaping improvements — Enhances curb appeal and resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Granite
• NCES district ID: 4013290
• Math proficiency: 60% ▲ 20.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $40,018
• Composite: 47.81/100
• National rank: #4877
• State rank: #17 of 513 in OK

Livability — Granite

• Score: 66/100
• State rank: #119
• US rank: #11956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite, OK
• Population (ZIP): 1,775

Population outlook (Greer County) Hauer SSP2

• Today (2025): 5,904 people
• By 2030: 5,869 · -0.6%
• By 2040: 5,790 · -1.9%
• By 2050: 5,712 · -3.3%
• By 2075: 5,196 · -12.0%
• By 2100: 4,326 · -26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 14% Two or more races 10% Hispanic / Latino 8% Native American 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Iranian 1% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Greer

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.1%
• 2008→2024 swing: -19.3pp toward R · 2008: -46.5pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+64.7 2016: R+61.1 2012: R+46.7 2008: R+46.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.70%
• Current HPI: 117.5493
• 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

-2.5% since first listed

5 events — show timeline

• 2026-04-26 Listed $77,500 MLSOK
• 2024-03-27 Listing Removed — MLSOK
• 2024-01-30 Listed $79,500 MLSOK
• 2023-12-14 Listing Removed — MLSOK
• 2023-10-13 Listed $79,500 MLSOK