601 E South St · New Cordell, OK 73632

$49,900

4 bd · 2.0 ba · 2,190 sqft · SingleFamily public records · 4 Days on market

Built 1910 3,550 sqft 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
• ARV discount +7.5/15.0
• Appreciation +3.3/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This vintage home has been beautifully renovated. Almost everything is new! New kitchen, 2 new bathrooms, water softener, all new electric, plumbing, insulation, new steel roof, new tilt to clean windows, new energy efficient mini split heat and air with temperature control in every room. Lots of space with 4 bedrooms, 2 bathrooms, large laundry room. Kitchen is open to dining area. Master suite is on the main floor. At the top of the stairs you'll find a sitting area and 3 more nice size bedrooms. Outside is a peaceful covered courtyard with fireplace area and lighting. In the back yard, there is an above ground pool with deck, a tree house, chicken house and 2 other cute little sheds. Nice corner lot with trees. Updated inside and out with stylish colors, this home still has the charm and character of a vintage home. More pictures to follow.

Key facts

• 3,550 sq ft lot
• Built 1910
• Listed 4 days

Property features AI

Finance

• Other: REO / Bank Owned; corporate approval may be required; Living area reported as 1,792 (assessor)
• Financial info: Property sold As-is; Assumable loans: No
• HOA & community: No mandatory association dues

Exterior

• Utilities: Public utilities
• Home design: Two-story single family residence; Faces south; Residential property, existing
• Construction: Frame construction; Metal roof; Conventional foundation; Built (existing)
• Exterior features: Covered patio; Covered porch; Outbuildings; Corner lot

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: One living area; One dining area; No fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 24.2% vs local median 6.6% in New Cordell — 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 60/100 on livability (#335 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Cordell (town): math 37% / reading 33% proficiency, ranked #33 of 270 in OK (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cordell Es (math 42% / reading 37%, grade F, #107 of 845 statewide, top 14%, 358 students, 0% FRL); Cordell Hs (math 24% / reading 44%, grade F, #48 of 447 statewide, top 14%, 104 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 1 units permitted in Washita County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Washita County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $40k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $49,900

Questions for the listing agent

1. Built in 1910 — 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. 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.
5. 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.
6. 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: 2.70% ✓
• Cap rate: 24.17%
• Cash-on-cash: 63.86%
• DSCR: 3.84
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $188,340
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 S Cordell St	0.11mi	4/3.0	2,133 (-3%)	3mo	$130,000	$61	84
814 S Magnolia Ave	0.46mi	4/3.0	2,231 (+2%)	14mo	$192,635	$86	60
601 N Temple St	0.67mi	3/2.5 (-1)	2,254 (+3%)	6mo	$180,000	$80	52
117 W 6th St	0.72mi	4/2.0	2,302 (+5%)	7mo	$108,000	$47	52
515 N Fleming St	0.54mi	4/2.0	1,920 (-12%)	8mo	$237,000	$123	47
517 N West St	0.69mi	3/2.0 (-1)	2,148 (-2%)	15mo	$55,000	$26	47
418 E 3rd St	0.35mi	3/2.0 (-1)	2,408 (+10%)	20mo	$140,000	$58	45
605 N College St	0.64mi	4/3.5	2,407 (+10%)	6mo	$270,000	$112	42
519 N Symcox St	0.58mi	3/2.0 (-1)	1,966 (-10%)	13mo	$242,000	$123	40
907 Ella St	0.51mi	3/2.5 (-1)	1,907 (-13%)	11mo	$170,000	$89	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.9%
• Equity multiple: 3.81×
• Total profit: $39,276
• Equity at exit: $7,440

10-year hold

• IRR: 67.4%
• Equity multiple: 7.81×
• Total profit: $95,200
• Equity at exit: $4,314

Cash invested: $13,972 (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 73632

• Home prices YoY: -1.6%
• Active inventory: 38
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $744

Break-even live

Break-even rent $404

Max offer price $49,900

Occupancy floor 40%

Sensitivity live

Price	-10% $772	-5% $758	+0% $744	+5% $729	+10% $715
Rent	-10% $637	-5% $690	+0% $744	+5% $797	+10% $850
Rate	-1.0pp $769	-0.5pp $756	base $744	+0.5pp $731	+1.0pp $717

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $49,900 Active 4 DOM
2. 2026-06-18
   days on market $49,900 Active 2 DOM
3. 2026-06-18
   price $49,900 Active 1 DOM
4. 2026-06-17
   days on marketlisting id $69,900 Active 1 DOM
5. 2026-06-08
   days on market $69,900 Active 89 DOM
6. 2026-06-08
   days on market $69,900 Active 88 DOM
7. 2026-06-07
   days on market $69,900 Active 87 DOM
8. 2026-06-04
   days on market $69,900 Active 84 DOM
9. 2026-06-02
   days on market $69,900 Active 83 DOM
10. 2026-06-01
    days on market $69,900 Active 82 DOM
11. 2026-05-31
    days on market $69,900 Active 81 DOM
12. 2026-05-12
    price $69,900
13. 2026-04-13
    price $84,900
14. 2026-03-10
    listed $89,900 Active
15. 2020-06-30
    soldstatus $119,000
16. 2020-06-25
    soldstatus $119,000 860-char remark

    Show marketing remark (860 chars)

    This vintage home has been beautifully renovated. Almost everything is new! New kitchen, 2 new bathrooms, water softener, all new electric, plumbing, insulation, new steel roof, new tilt to clean windows, new energy efficient mini split heat and air with temperature control in every room. Lots of space with 4 bedrooms, 2 bathrooms, large laundry room. Kitchen is open to dining area. Master suite is on the main floor. At the top of the stairs you'll find a sitting area and 3 more nice size bedrooms. Outside is a peaceful covered courtyard with fireplace area and lighting. In the back yard, there is an above ground pool with deck, a tree house, chicken house and 2 other cute little sheds. Nice corner lot with trees. Updated inside and out with stylish colors, this home still has the charm and character of a vintage home. More pictures to follow.

17. 2020-02-07
    listed $119,000 860-char remark

    Show marketing remark (860 chars)

    This vintage home has been beautifully renovated. Almost everything is new! New kitchen, 2 new bathrooms, water softener, all new electric, plumbing, insulation, new steel roof, new tilt to clean windows, new energy efficient mini split heat and air with temperature control in every room. Lots of space with 4 bedrooms, 2 bathrooms, large laundry room. Kitchen is open to dining area. Master suite is on the main floor. At the top of the stairs you'll find a sitting area and 3 more nice size bedrooms. Outside is a peaceful covered courtyard with fireplace area and lighting. In the back yard, there is an above ground pool with deck, a tree house, chicken house and 2 other cute little sheds. Nice corner lot with trees. Updated inside and out with stylish colors, this home still has the charm and character of a vintage home. More pictures to follow.

18. 2018-03-05
    soldstatus $11,250 666-char remark

    Show marketing remark (666 chars)

    This property has been placed in an upcoming event. All offers should be submitted at www.Xome.com (void where prohibited). All offers received prior to the event period should be submitted by the buyer or buyer's agent by clicking on the “Make Offer” button on the Property Details page on Xome.com. All offers will be reviewed and responded to within 3 business days. All properties are subject to a 5% buyer’s premium pursuant to the Event Agreement and Terms & Conditions (minimums will apply). Please contact listing agent for details and commission paid on this property.” 4. Submit Pre-Auction offers to [email protected]

19. 2017-06-27
    listed $12,500 666-char remark

    Show marketing remark (666 chars)

    This property has been placed in an upcoming event. All offers should be submitted at www.Xome.com (void where prohibited). All offers received prior to the event period should be submitted by the buyer or buyer's agent by clicking on the “Make Offer” button on the Property Details page on Xome.com. All offers will be reviewed and responded to within 3 business days. All properties are subject to a 5% buyer’s premium pursuant to the Event Agreement and Terms & Conditions (minimums will apply). Please contact listing agent for details and commission paid on this property.” 4. Submit Pre-Auction offers to [email protected]

20. 2006-09-21
    soldstatus $55,000
21. 2006-09-19
    soldstatus $51,397
22. 2006-07-31
    listed $49,900
23. 2002-09-30
    soldstatus $29,000

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $449 · $37/mo
• Expected delta: +$8/yr (+$1/mo · 1.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $16,143
• − Mortgage interest: −$2,795
• − Property taxes: −$441
• − Insurance: −$250
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$1,452
• Taxable income: $8,623
• Est. tax owed @ 24.0%: −$2,070
• After-tax cash flow: $6,853/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: Cordell
• NCES district ID: 4008640
• Math proficiency: 37% ▼ -10.00%
• Reading proficiency: 33% ▼ -4.00%
• Median HH income: $48,294
• Composite: 30.21/100
• National rank: #6304
• State rank: #33 of 270 in OK

Livability — New Cordell

• Score: 60/100
• State rank: #335
• US rank: #18607

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Cordell, OK
• Population (ZIP): 3,041

Population outlook (Washita County) Hauer SSP2

• Today (2025): 12,143 people
• By 2030: 12,276 · +1.1%
• By 2040: 12,522 · +3.1%
• By 2050: 12,740 · +4.9%
• By 2075: 13,198 · +8.7%
• By 2100: 13,189 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 2% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Iranian 2% Serbian 2%
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Washita

• 2024 margin: Solid R (+74.8) · D 11.8% · R 86.6% · Other 1.5%
• 2008→2024 swing: -18.9pp toward R · 2008: -55.9pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+73.0 2016: R+70.5 2012: R+61.8 2008: R+55.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.38%
• Current HPI: 203.69
• 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

+141.0% since first listed

12 events — show timeline

• 2026-05-12 Price Changed $69,900 MLSOK
• 2026-04-13 Price Changed $84,900 MLSOK
• 2026-03-10 Listed $89,900 MLSOK
• 2020-06-30 Sold (Public Records) $119,000 Public Records
• 2020-06-25 Sold (MLS) $119,000 MLSOK
• 2020-02-07 Listed $119,000 MLSOK
• 2018-03-05 Sold (MLS) $11,250 MLSOK
• 2017-06-27 Listed $12,500 MLSOK
• 2006-09-21 Sold (Public Records) $55,000 Public Records
• 2006-09-19 Sold (MLS) $51,397 MLSOK
• 2006-07-31 Listed $49,900 MLSOK
• 2002-09-30 Sold (Public Records) $29,000 Public Records

Property tax history

-0.0%/yr

Latest (2025): $441 · +17.3% YoY. Source: county tax records.