403 SE 3rd St · Lexington, OK 73051

$160,000

3 bd · 1.0 ba · 1,137 sqft · SingleFamily public records · 58 Days on market

Built 1938 7,405 sqft lot Est $172k · 7% under

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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 +16.8/30.0
• ARV discount +10.6/15.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Welcome to 403 SE 3rd Street, Lexington, OK! This 3-bedroom, 1-bathroom home offers classic charm and plenty of potential. Featuring two stories, and a large carport, this property is perfect for those looking to customize a home to their liking. Situated in a convenient location, this home provides easy access to local amenities while maintaining a cozy, small-town feel. Being sold as-is, this is a great opportunity for investors or buyers seeking a project with character. Home is being sold AS-IS. Don’t miss your chance to own this unique home—schedule a showing today!

Key facts

• Updated finishes
• Refreshed interior
• Brand new roof

Tags

• FRESHLY RENOVATED
• UPDATED FINISHES
• REFRESHED INTERIOR
• BRAND NEW ROOF

Property features AI

Finance

• Other: Taxes listed (see broker for details); Located on legal addition: 8-6-1W .17 AC PRT NW/4; Directions: From Lexington, take Hwy 77 east to SE 3rd St; head east and the home is on the north side at 403.
• Financial info: Not assumable; Financing: buyer may qualify for a loan
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: No storm shelter
• Home design: Single family residence; Residential property; Brick and frame construction; Composition roof; Existing property
• Construction: Brick & frame construction; Composition roof; Slab foundation
• Exterior features: Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Interior features: One-level home; Living area: 1,137 (assessor); Slab foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/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 $132k (17.5% below list).
• Recommended offer: $132k (17.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#310 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: amenities F, commute F, employment D-.
• Lexington (town): math 13% / reading 18% proficiency, ranked #214 of 270 in OK (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lexington Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 473 students, 0% FRL); Lexington Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 300 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.
• Market conditions: 74 active listings in the ZIP; 592 units permitted in Cleveland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Cleveland County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $60k; list at $160k implies a 167% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,078 (17.5% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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 F-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: 0.83% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.71%
• DSCR: 1.12
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $171,687
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
431 E Broadway St	0.29mi	3/1.5	1,120 (-2%)	5mo	$177,000	$158	78
503 E Hudson St	0.22mi	3/1.5	1,094 (-4%)	13mo	$165,000	$151	71
400 E Kennedy St	0.10mi	3/2.0	1,282 (+13%)	12mo	$192,000	$150	61
219 E Center St	0.51mi	3/2.0	1,216 (+7%)	5mo	$204,000	$168	56
418 E Boomer St	0.11mi	2/1.0 (-1)	976 (-14%)	16mo	$45,000	$46	53
405 SW 2nd St	0.47mi	3/2.0	1,300 (+14%)	10mo	$123,000	$95	42

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.2%
• Equity multiple: 3.09×
• Total profit: $93,510
• Equity at exit: $144,141

10-year hold

• IRR: 23.0%
• Equity multiple: 7.03×
• Total profit: $270,139
• Equity at exit: $310,845

Cash invested: $44,800 (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 73051

• Home prices YoY: 5.5%
• Active inventory: 74
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $101

Break-even live

Break-even rent $1,193

Max offer price $160,000

Occupancy floor 87%

Sensitivity live

Price	-10% $192	-5% $147	+0% $101	+5% $56	+10% $11
Rent	-10% $-3	-5% $49	+0% $101	+5% $153	+10% $206
Rate	-1.0pp $182	-0.5pp $142	base $101	+0.5pp $60	+1.0pp $18

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $160,000 Active 58 DOM
2. 2026-06-18
   days on market $160,000 Active 56 DOM
3. 2026-06-17
   days on market $160,000 Active 55 DOM
4. 2026-06-16
   days on market $160,000 Active 54 DOM
5. 2026-06-15
   days on market $160,000 Active 53 DOM
6. 2026-06-13
   days on market $160,000 Active 51 DOM
7. 2026-06-12
   days on market $160,000 Active 50 DOM
8. 2026-06-09
   days on market $160,000 Active 47 DOM
9. 2026-06-08
   days on market $160,000 Active 46 DOM
10. 2026-06-08
    days on market $160,000 Active 45 DOM
11. 2026-06-07
    days on market $160,000 Active 44 DOM
12. 2026-06-04
    days on market $160,000 Active 41 DOM
13. 2026-06-02
    days on market $160,000 Active 40 DOM
14. 2026-06-01
    days on market $160,000 Active 39 DOM
15. 2026-05-31
    days on market $160,000 Active 38 DOM
16. 2026-04-23
    listed $160,000 Active
17. 2026-04-23
    historical
18. 2026-03-20
    price $165,000
19. 2026-02-16
    listed $175,000 Active
20. 2025-07-31
    soldstatus $60,000
21. 2025-07-28
    soldstatus $60,000 Closed 589-char remark

    Show marketing remark (589 chars)

    Welcome to 403 SE 3rd Street, Lexington, OK! This 3-bedroom, 1-bathroom home offers classic charm and plenty of potential. Featuring two stories, and a large carport, this property is perfect for those looking to customize a home to their liking. Situated in a convenient location, this home provides easy access to local amenities while maintaining a cozy, small-town feel. Being sold as-is, this is a great opportunity for investors or buyers seeking a project with character. Home is being sold AS-IS. Don’t miss your chance to own this unique home—schedule a showing today!

22. 2025-04-13
    status Pending 589-char remark

    Show marketing remark (589 chars)

    Welcome to 403 SE 3rd Street, Lexington, OK! This 3-bedroom, 1-bathroom home offers classic charm and plenty of potential. Featuring two stories, and a large carport, this property is perfect for those looking to customize a home to their liking. Situated in a convenient location, this home provides easy access to local amenities while maintaining a cozy, small-town feel. Being sold as-is, this is a great opportunity for investors or buyers seeking a project with character. Home is being sold AS-IS. Don’t miss your chance to own this unique home—schedule a showing today!

23. 2025-04-03
    price $70,000 589-char remark

    Show marketing remark (589 chars)

    Welcome to 403 SE 3rd Street, Lexington, OK! This 3-bedroom, 1-bathroom home offers classic charm and plenty of potential. Featuring two stories, and a large carport, this property is perfect for those looking to customize a home to their liking. Situated in a convenient location, this home provides easy access to local amenities while maintaining a cozy, small-town feel. Being sold as-is, this is a great opportunity for investors or buyers seeking a project with character. Home is being sold AS-IS. Don’t miss your chance to own this unique home—schedule a showing today!

24. 2025-03-06
    listed $80,000 Active 589-char remark

    Show marketing remark (589 chars)

    Welcome to 403 SE 3rd Street, Lexington, OK! This 3-bedroom, 1-bathroom home offers classic charm and plenty of potential. Featuring two stories, and a large carport, this property is perfect for those looking to customize a home to their liking. Situated in a convenient location, this home provides easy access to local amenities while maintaining a cozy, small-town feel. Being sold as-is, this is a great opportunity for investors or buyers seeking a project with character. Home is being sold AS-IS. Don’t miss your chance to own this unique home—schedule a showing today!

ⓘ 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: $437 · $36/mo
• Projected year-2 tax: $1,440 · $120/mo
• Expected delta: +$1,003/yr (+$84/mo · 229.5%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $15,849
• − Mortgage interest: −$8,962
• − Property taxes: −$437
• − Insurance: −$800
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$4,655
• Taxable loss: −$1,541
• Est. tax savings @ 24.0%: +$370
• After-tax cash flow: $1,585/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: Lexington
• NCES district ID: 4017580
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 18% ▼ -5.00%
• Median HH income: $44,923
• Composite: 13.68/100
• National rank: #9501
• State rank: #214 of 270 in OK

Livability — Lexington

• Score: 61/100
• State rank: #310
• US rank: #17913

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, OK
• Population (ZIP): 10,079

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 323,621 people
• By 2030: 349,070 · +7.9%
• By 2040: 400,168 · +23.7%
• By 2050: 454,101 · +40.3%
• By 2075: 602,926 · +86.3%
• By 2100: 734,485 · +127.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Two or more races 13% Hispanic / Latino 9% Native American 8% Black 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Portuguese 2% Italian 2% Lithuanian 1%
• Foreign-born: 4% · Canada, China
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Cleveland

• 2024 margin: R (+14.9) · D 41.4% · R 56.4% · Other 2.2%
• 2008→2024 swing: +9.1pp toward D · 2008: -24.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+14.1 2016: R+21.7 2012: R+25.9 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.58%
• Current HPI: 298.2589
• 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

+100.0% since first listed

9 events — show timeline

• 2026-04-23 Listing Removed — MLSOK
• 2026-04-23 Listed $160,000 MLSOK
• 2026-03-20 Price Changed $165,000 MLSOK
• 2026-02-16 Listed $175,000 MLSOK
• 2025-07-31 Sold (Public Records) $60,000 Public Records
• 2025-07-28 Sold (MLS) $60,000 MLSOK
• 2025-04-13 Pending — MLSOK
• 2025-04-03 Price Changed $70,000 MLSOK
• 2025-03-06 Listed $80,000 MLSOK

Property tax history

+5.0%/yr

Latest (2024): $437 · +12.1% YoY. Source: county tax records.