1212 NW Dearborn Ave Unit Units 1,2, and 3 · Lawton, OK 73507

$259,900

6 bd · 3.0 ba · — sqft · MultiFamily · 15 Days on market

Built 1950 Good condition 7,000 sqft lot

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Newly updated and fully refreshed, this tri-plex offers an excellent investment opportunity with three modernized units and strong rental potential. Each unit has been updated with fresh interior and exterior paint, new windows, and all new flooring, including carpet and laminate. Every unit is equipped with a new refrigerator, stove, and dishwasher, along with individual washer and dryer hookups for added convenience. Unit 1 features two bedrooms and one bathroom. Unit 2 offers one bedroom and one bathroom. Unit 3 includes three bedrooms, one bathroom, and its own private yard. Units 1 and 2 share water, gas, and electric utilities, while Unit 3 is separately metered. Whether you’re

Key facts

• Updated units
• New stove
• New flooring

Tags

• UPDATED UNITS
• MODERNIZED UNITS
• NEW WINDOWS
• NEW FLOORING
• NEW REFRIGERATOR
• NEW STOVE

Property features AI

Finance

• Other: Property listed as residential income (triplex/fourplex)

Exterior

• Security: Carbon monoxide detectors; Smoke detectors
• Utilities: Natural gas available; Public sewer
• Home design: Two-story residential income property; Triplex/FourPlex configuration
• Construction: Composition roof
• Exterior features: Fenced yard; Public maintained road frontage on a city street; Lot dimensions approximately 50 x 140 (7,000 sq ft / 0.1607 acres)

Interior

• Kitchen: Refrigerator; Dishwasher; Oven
• Flooring: Vinyl flooring; Carpet flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air; Electric cooling; Ceiling fans
• Interior features: Ceiling fans; Window coverings; Crawl space basement
• Laundry & utility: Washer hookup in unit

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Central Ms (math 17% / reading 24%, grade F, #153 of 345 statewide, top 45%, 994 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).
• At $3,066/mo this rent would consume 59% of the median local household income ($62k/yr) (locally 979% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 15 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $256,001 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 NW Dearborn Ave	0.00mi	5/1.0 (-1)	2,698	14mo	$48,000	$18	63
1308 NW Euclid Ave	0.10mi	7/5.0 (+1)	3,145	15mo	$325,000	$103	58

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 · 0.25% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.86×
• Total profit: $-10,453
• Equity at exit: $38,752

10-year hold

• IRR: 2.3%
• Equity multiple: 1.14×
• Total profit: $10,360
• Equity at exit: $22,471

Cash invested: $72,772 (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: 21.9×

Monthly cashflow live

• Estimated rent: $3,066 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$644
• Net cashflow: $626

Break-even live

Break-even rent $2,274

Max offer price $259,900

Occupancy floor 75%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$989
1× unit	1	1	$811
1× unit	3	1	$1,266
Total (3 units)			$3,066

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-08
   listed $259,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $36,792
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,943
• − Management: −$2,943
• − Depreciation: −$7,561
• Taxable income: $3,588
• Est. tax owed @ 24.0%: −$861
• After-tax cash flow: $6,651/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 · 13 photos

Good 75/100 Cosmetic rehab

This tri-plex is in good condition with fresh paint and updated interiors. It offers a good investment opportunity with strong rental potential.

Value-add opportunities

• Both Paint the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the home's value.
• Both Upgrade the flooring — Upgrading the flooring can improve the home's appearance and increase its value.
• Both Replace the ceiling — Replacing the textured ceiling with a smoother finish can improve the home's appearance and increase its value.
• Both Replace the windows — Replacing the windows with energy-efficient ones can improve the home's energy efficiency and increase its value.
• Both Upgrade the HVAC system — Upgrading the HVAC system can improve the home's comfort and energy efficiency, and increase its value.
• Both Upgrade the electrical and plumbing systems — Upgrading the electrical and plumbing systems can improve the home's functionality and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior walls — Painting the exterior walls can enhance the curb appeal and increase the home's value. ↑
• Both Upgrade the flooring — Upgrading the flooring can improve the home's appearance and increase its value. ↑
• Both Replace the ceiling — Replacing the textured ceiling with a smoother finish can improve the home's appearance and increase its value. ↑
• Both Replace the windows — Replacing the windows with energy-efficient ones can improve the home's energy efficiency and increase its value. ↑
• Both Upgrade the HVAC system — Upgrading the HVAC system can improve the home's comfort and energy efficiency, and increase its value. ↑
• Both Upgrade the electrical and plumbing systems — Upgrading the electrical and plumbing systems can improve the home's functionality and increase its 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: 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

1 event — show timeline

• 2026-05-08 Listed $259,900 LBRMLS