204 W Nevada St · Walters, OK 73572

$119,000

2 bd · 1.0 ba · 812 sqft · SingleFamily public records · 9 Days on market

Built 2003

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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 +11.0/30.0
• Appreciation +7.9/10.0
• ARV discount +7.5/15.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +2.1/10.0

Listing remarks

Remodeled home. Move in ready. 2 bd 1 bath. Kitchen and bath updated. BRAND NEW ROOF 5/30/2026 with warranty. Located on 5 lots (lots 7-11) gives you plenty of room outdoors. Carport for convenience. Washer/dryer-Whirlpool Double door Refrigerator-Whirlpool Gas Rang included. All furniture, 55& apos; TV, Riding and push lawnmowers and gas weed trimmer

Key facts

• Brand new roof
• Kitchen updated
• Carport

Tags

• REMODELED HOME
• KITCHEN UPDATED
• BATH UPDATED
• BRAND NEW ROOF
• 5 LOTS
• CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $-49 ($-594/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (28.8% below list).
• Recommended offer: $85k (28.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#165 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Walters (town): math 22% / reading 25% proficiency, ranked #122 of 270 in OK (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Walters Es (math 37% / reading 27%, grade F, #213 of 845 statewide, top 28%, 274 students, 0% FRL); Walters Ms (math 12% / reading 22%, grade F, #193 of 345 statewide, top 60%, 140 students, 0% FRL); Walters Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 196 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 19 active listings in the ZIP.

Forward outlook

• In year one you build about $8k of equity ($823 loan paydown + $7k appreciation (5.9% local appreciation)).
• Cotton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $68k; list at $119k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $84,693 (28.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.71% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $65,772
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 W Nebraska	0.29mi	2/1.0	730 (-10%)	21mo	$25,000	$34	52
411 E Iowa Ave	0.61mi	2/1.0	900 (+11%)	11mo	$73,000	$81	44

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

Projected returns pro-forma

5.87% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.91×
• Total profit: $30,210
• Equity at exit: $73,802

10-year hold

• IRR: 14.1%
• Equity multiple: 3.75×
• Total profit: $91,483
• Equity at exit: $132,978

Cash invested: $33,320 (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 73572

• Home prices YoY: 3.1%
• Active inventory: 19
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $847 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$45 /mo · $539/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $-49

Break-even live

Break-even rent $910

Max offer price $110,260

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-16	+0% $-49	+5% $-83	+10% $-117
Rent	-10% $-116	-5% $-83	+0% $-49	+5% $-16	+10% $17
Rate	-1.0pp $10	-0.5pp $-19	base $-49	+0.5pp $-80	+1.0pp $-112

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $119,000 Active 9 DOM
2. 2026-06-19
   days on market $119,000 Active 7 DOM
3. 2026-06-18
   days on market $119,000 Active 6 DOM
4. 2026-06-17
   days on market $119,000 Active 5 DOM
5. 2026-06-16
   days on market $119,000 Active 4 DOM
6. 2026-06-15
   days on market $119,000 Active 3 DOM
7. 2026-06-13
   remarks 353-char remark
8. 2026-06-13
   listed $119,000 Active 1 DOM

ⓘ 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: $539 · $45/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$532/yr (+$44/mo · 98.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°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: $10,163
• − Mortgage interest: −$6,666
• − Property taxes: −$539
• − Insurance: −$595
• − Repairs & maintenance: −$813
• − Management: −$813
• − Depreciation: −$3,462
• Taxable loss: −$2,725
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $60/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: Walters
• NCES district ID: 4031470
• Math proficiency: 22% ▼ -4.00%
• Reading proficiency: 25% ▼ -3.00%
• Median HH income: $48,681
• Composite: 20.68/100
• National rank: #8530
• State rank: #122 of 270 in OK

Livability — Walters

• Score: 64/100
• State rank: #165
• US rank: #13750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walters, OK
• Population (ZIP): 3,194

Population outlook (Cotton County) Hauer SSP2

• Today (2025): 5,847 people
• By 2030: 5,759 · -1.5%
• By 2040: 5,619 · -3.9%
• By 2050: 5,550 · -5.1%
• By 2075: 5,839 · -0.1%
• By 2100: 6,503 · +11.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Native American 12% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 2% Italian 2% European 1%
• Foreign-born: 1% · Canada
• Languages at home: 92% English-only · Spanish 5%

Political lean MEDSL · Cotton

• 2024 margin: Solid R (+66.8) · D 15.6% · R 82.5% · Other 1.9%
• 2008→2024 swing: -22.4pp toward R · 2008: -44.4pp · 2024: -66.8pp
• All cycles: 2024: R+66.8 2020: R+67.0 2016: R+62.6 2012: R+46.4 2008: R+44.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.87%
• Current HPI: 193.3992
• 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

+75.0% since first listed

2 events — show timeline

• 2026-06-13 Listed $119,000 FSBO.com
• 2024-03-08 Sold (Public Records) $68,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $539 · -7.1% YoY. Source: county tax records.