406 N 2nd St · Ringling, OK 73456

$100,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 162 Days on market

Built 1951 8,764 sqft lot ↓ 23% since listing

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Why this score? — see what drove the D+ 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 +18.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• Appreciation +5.0/10.0
• 1% rule +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Completely Remodeled 3 Bed, 1 Bath Home in Ringling, OK — Move-In Ready! Welcome to this beautifully updated home in the heart of Ringling, Oklahoma! This charming 3-bed, 1-bath property has been thoughtfully renovated from top to bottom, offering a perfect blend of modern comfort and classic character. Step inside to find original hardwood floors that have been professionally sanded, restained, and sealed, bringing warmth and charm throughout the living areas. The home features brand-new paint, updated lighting, and fresh flooring in the kitchen. Enjoy peace of mind with major upgrades including a new roof, new siding, new plumbing, and new electrical wiring. Energy-efficient mini-s

Key facts

• New plumbing
• New siding
• Updated lighting

Tags

• ORIGINAL HARDWOOD FLOORS
• NEW ROOF
• NEW SIDING
• NEW PLUMBING
• NEW ELECTRICAL WIRING
• UPDATED LIGHTING

Property features AI

Finance

• Other: Property is existing (not new construction)
• Financial info: Financing options include Conventional, FHA, or VA; Loan qualification: Yes; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: No storm shelter indicated
• Home design: Single family residence; One story; Property faces west; Residential property
• Construction: Frame construction; Composition roof (new 2025); Conventional foundation
• Exterior features: Covered porch; Workshop; Lot features described as other

Interior

• Kitchen: Microwave
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating
• Interior features: Microwave included; No fireplace; One living area
• Laundry & utility: Conventional foundation

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $87 ($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 $85k (15.1% below list).
• Recommended offer: $85k (15.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#284 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment F.
• Ringling (rural): math 15% / reading 20% proficiency, ranked #447 of 513 in OK (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ringling Es (math 22% / reading 27%, grade F, #354 of 845 statewide, top 47%, 209 students, 0% FRL); Ringling Hs (math 30% / reading 30%, grade F, #76 of 447 statewide, top 20%, 96 students, 0% FRL) — zoned schools average 0% FRL vs 66% district-wide (66 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 11 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($691 loan paydown + $3k appreciation (3.0% local appreciation)).
• Jefferson County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,947 (15.1% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.74%
• DSCR: 1.17
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.0%
• Equity multiple: 1.63×
• Total profit: $17,545
• Equity at exit: $44,964

10-year hold

• IRR: 13.1%
• Equity multiple: 2.95×
• Total profit: $54,622
• Equity at exit: $69,295

Cash invested: $28,000 (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 73456

• Active inventory: 11
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $849 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$18 /mo · $214/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $87

Break-even live

Break-even rent $739

Max offer price $100,000

Occupancy floor 85%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-20
   status Pending
2. 2026-05-14
   price $100,000
3. 2026-01-11
   price $120,000
4. 2025-12-09
   listed $130,000 Active

ⓘ 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: $214 · $18/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: +$686/yr (+$57/mo · 320.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,194
• − Mortgage interest: −$5,602
• − Property taxes: −$214
• − Insurance: −$500
• − Repairs & maintenance: −$815
• − Management: −$815
• − Depreciation: −$2,909
• Taxable loss: −$662
• Est. tax savings @ 24.0%: +$159
• After-tax cash flow: $1,205/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: Ringling
• NCES district ID: 4025860
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 20% ▼ -5.00%
• Median HH income: $36,839
• Composite: 17.92/100
• National rank: #14101
• State rank: #447 of 513 in OK

Livability — Ringling

• Score: 61/100
• State rank: #284
• US rank: #17492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ringling, OK
• Population (ZIP): 1,659

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 5,922 people
• By 2030: 5,728 · -3.3%
• By 2040: 5,362 · -9.5%
• By 2050: 5,025 · -15.1%
• By 2075: 4,538 · -23.4%
• By 2100: 4,300 · -27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 12% Native American 8% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: European 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+71.6) · D 13.4% · R 85.0% · Other 1.5%
• 2008→2024 swing: -37.1pp toward R · 2008: -34.5pp · 2024: -71.6pp
• All cycles: 2024: R+71.6 2020: R+71.6 2016: R+65.7 2012: R+46.1 2008: R+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-23.1% since first listed

4 events — show timeline

• 2026-05-20 Pending — MLSOK
• 2026-05-14 Price Changed $100,000 MLSOK
• 2026-01-11 Price Changed $120,000 MLSOK
• 2025-12-09 Listed $130,000 MLSOK

Property tax history

+2.6%/yr

Latest (2025): $214 · +4.4% YoY. Source: county tax records.