222 S Hitchcock St · Hobart, OK 73651

$44,900

2 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 8 Days on market

Built 1920 0.48 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Investors SPECIALS! Check out this 2 bedroom, 1 1/2 bath home that sits on 3 lots and ready for you to make it HOME! This property offers over 1200 sq ft of living space, carport, cellar, work shop in back and so much more! Being sold as-is, but at this price, with a little TLC, this home could bring a lot more value giving you equity and peace of mind. Call for your private showing today!

Key facts

• 0.48 acre lot
• Parking
• Built 1920

Property features AI

Exterior

• Parking: No garage; Carport (1 covered space) — total 1 parking space
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One level
• Construction: Frame construction
• Exterior features: Covered patio and porch; Porch; Chain link fencing; Composition roof; Public maintained road access; City street frontage; Lot approximately 0.48 acre (21,000 sq ft)

Interior

• Kitchen: Cooktop; Oven; Dishwasher; Refrigerator
• Flooring: Ceramic tile; Carpet; Hardwood; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Floor furnace; Ceiling fan(s); Window unit(s)
• Interior features: Cooktop, Oven, Dishwasher, Refrigerator, Gas water heater; Crawl space; Ceiling fan(s) and window unit(s) for cooling; Natural gas heating and floor furnace
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 20.4% vs local median 8.3% in Hobart — 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 53/100 on livability (#627 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, schools F, amenities F.
• Hobart (town): math 23% / reading 28% proficiency, ranked #110 of 270 in OK (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 52 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($310 loan paydown + $4k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $32k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,900

Questions for the listing agent

1. Built in 1920 — 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 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. Crime grade is D 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 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: 2.31% ✓
• Cap rate: 20.40%
• Cash-on-cash: 50.38%
• DSCR: 3.24
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $103,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
229 S Hill St	0.18mi	2/1.0	1,254 (-1%)	15mo	$45,000	$36	77
325 W Dogwood St	0.62mi	2/1.0	1,246 (-2%)	9mo	$73,000	$59	60
200 S Pueblo Ave	0.21mi	3/2.0 (+1)	1,232 (-3%)	19mo	$100,000	$81	60
512 N Randlett St	0.54mi	3/1.0 (+1)	1,248 (-2%)	11mo	$115,000	$92	58
415 N Hitchcock St	0.44mi	3/1.0 (+1)	1,372 (+8%)	6mo	$5,000	$4	56
409 S Park Rd	0.30mi	3/1.0 (+1)	1,366 (+7%)	18mo	$79,000	$58	54
329 N Bailey St	0.40mi	3/2.0 (+1)	1,132 (-11%)	4mo	$70,000	$62	51
400 N Stephens St	0.43mi	2/1.5	1,123 (-12%)	13mo	$109,500	$98	47
215 N Washington	0.42mi	3/2.0 (+1)	1,416 (+11%)	9mo	$139,500	$99	45
829 S Washington St	0.66mi	2/2.0	1,375 (+8%)	10mo	$130,000	$95	44
302 N Hill St	0.38mi	2/1.0	1,104 (-13%)	20mo	$18,666	$17	43
613 N Broadway	0.69mi	3/2.0 (+1)	1,407 (+11%)	6mo	$115,000	$82	36

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: 63.9%
• Equity multiple: 5.62×
• Total profit: $58,077
• Equity at exit: $40,449

10-year hold

• IRR: 57.5%
• Equity multiple: 12.50×
• Total profit: $144,598
• Equity at exit: $87,231

Cash invested: $12,572 (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 73651

• Home prices YoY: 8.0%
• Active inventory: 52
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,037 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $528

Break-even live

Break-even rent $369

Max offer price $44,900

Occupancy floor 44%

Sensitivity live

Price	-10% $553	-5% $541	+0% $528	+5% $515	+10% $502
Rent	-10% $446	-5% $487	+0% $528	+5% $569	+10% $610
Rate	-1.0pp $550	-0.5pp $539	base $528	+0.5pp $516	+1.0pp $504

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $44,900 Active 8 DOM
2. 2026-06-17
   days on market $44,900 Active 7 DOM
3. 2026-06-16
   days on market $44,900 Active 6 DOM
4. 2026-06-15
   days on market $44,900 Active 5 DOM
5. 2026-06-13
   days on market $44,900 Active 3 DOM
6. 2026-06-12
   remarks 392-char remark
7. 2026-06-12
   listed $44,900 Active 2 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: $445 · $37/mo
• Projected year-2 tax: $445 · $37/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $12,442
• − Mortgage interest: −$2,515
• − Property taxes: −$445
• − Insurance: −$224
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$1,306
• Taxable income: $5,961
• Est. tax owed @ 24.0%: −$1,431
• After-tax cash flow: $4,904/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: Hobart
• NCES district ID: 4014700
• Math proficiency: 23% ▼ -6.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $36,779
• Composite: 21.2/100
• National rank: #8417
• State rank: #110 of 270 in OK

Livability — Hobart

• Score: 53/100
• State rank: #627
• US rank: #24677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, OK
• City population: 4,070
• Population (ZIP): 4,070

Population outlook (Kiowa County) Hauer SSP2

• Today (2025): 8,842 people
• By 2030: 8,733 · -1.2%
• By 2040: 8,641 · -2.3%
• By 2050: 8,758 · -1.0%
• By 2075: 9,894 · +11.9%
• By 2100: 11,194 · +26.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 10% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 8% Italian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Kiowa

• 2024 margin: Solid R (+58.3) · D 20.1% · R 78.4% · Other 1.6%
• 2008→2024 swing: -23.5pp toward R · 2008: -34.8pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.6 2016: R+52.4 2012: R+35.4 2008: R+34.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.68%
• Current HPI: 158.6311
• 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

+40.3% since first listed

9 events — show timeline

• 2026-06-09 Listed $44,900 LBRMLS
• 2024-11-01 Listing Removed — MLSOK
• 2024-07-20 Relisted — MLSOK
• 2024-07-11 Pending — MLSOK
• 2024-04-01 Relisted — MLSOK
• 2024-03-31 Listing Removed — MLSOK
• 2024-03-19 Price Changed $50,000 MLSOK
• 2023-09-20 Listed $57,500 MLSOK
• 2011-04-13 Sold (Public Records) $32,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $445 · -0.7% YoY. Source: county tax records.