502 W Jefferson St · Mangum, OK 73554

$15,000

4 bd · 2.0 ba · 2,366 sqft · SingleFamily public records · 122 Days on market

Built 1940 7,013 sqft lot ↓ 5% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +3.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

This spacious home is on a corner lot and in a peaceful neighborhood in Mangum. The front door enters into a very large living/family room with lots of space. Off of the living room, there is a formal dining room. Each of the four bedrooms is roomy and the master bedroom has a fireplace. There is one bathroom which has a large soaking tub and shower. This home also has the potential to be an investment property. It is being sold “AS IS."

Key facts

• 7,013 sq ft lot
• Built 1940
• Listed 122 days

Property features AI

Finance

• Other: Located in Byars addition; Property on south side of Jefferson (directions); Manual geocode source
• Financial info: Listing offered as-is; Cash only; Not assumable; Loan qualification not available
• HOA & community: No mandatory association dues

Exterior

• Utilities: No storm shelter
• Home design: Single-family residence; One-story; Existing property
• Construction: Brick and frame construction; Composition roof; Combination foundation; Built previously (existing)
• Exterior features: Corner lot; No exterior features listed

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Other cooling
• Interior features: Two living areas; One fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.
• Cap rate 76.7% vs local median 7.6% in Mangum — 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 65/100 on livability (#144 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment F.
• Mangum (town): math 27% / reading 28% proficiency, ranked #89 of 270 in OK (top 33%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Edison Es (math 47% / reading 32%, grade F, #107 of 845 statewide, top 14%, 239 students, 0% FRL); Mangum Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 175 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 46 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.5%/yr); year-one equity from $104 of loan paydown is wiped out by about $368 of value loss. Plan a longer hold.
• Greer County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.5% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $15k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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?
6. 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.
7. 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.
8. 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: 8.34% ✓
• Cap rate: 76.67%
• Cash-on-cash: 251.34%
• DSCR: 12.18
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $163,254
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 W Jefferson St	0.08mi	5/2.0 (+1)	2,328 (-2%)	22mo	$150,000	$64	70
120 W Tyler St	0.42mi	4/3.0	2,328 (-2%)	19mo	$135,000	$58	58
231 W Polk St	0.38mi	4/2.5	2,087 (-12%)	10mo	$145,000	$69	53
422 S Pennsylvania Ave	0.55mi	4/2.0	2,200 (-7%)	13mo	$196,000	$89	52
311 W Polk St	0.35mi	5/3.0 (+1)	2,154 (-9%)	10mo	$175,000	$81	51

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

Projected returns pro-forma

-2.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.85×
• Total profit: $53,964
• Equity at exit: $2,603

10-year hold

• IRR: —
• Equity multiple: 29.46×
• Total profit: $119,524
• Equity at exit: $1,935

Cash invested: $4,200 (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 73554

• Home prices YoY: -2.7%
• Active inventory: 46
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$79
• Tax from tax record: −$24 /mo · $282/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $880

Break-even live

Break-even rent $137

Max offer price $15,000

Occupancy floor 25%

Sensitivity live

Price	-10% $888	-5% $884	+0% $880	+5% $875	+10% $871
Rent	-10% $781	-5% $830	+0% $880	+5% $929	+10% $979
Rate	-1.0pp $887	-0.5pp $884	base $880	+0.5pp $876	+1.0pp $872

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $15,000 Active 122 DOM
2. 2026-06-18
   days on market $15,000 Active 120 DOM
3. 2026-06-17
   days on market $15,000 Active 119 DOM
4. 2026-06-16
   days on market $15,000 Active 118 DOM
5. 2026-06-15
   days on market $15,000 Active 117 DOM
6. 2026-06-13
   days on market $15,000 Active 115 DOM
7. 2026-06-12
   days on market $15,000 Active 114 DOM
8. 2026-06-09
   days on market $15,000 Active 111 DOM
9. 2026-06-08
   days on market $15,000 Active 110 DOM
10. 2026-06-08
    days on market $15,000 Active 109 DOM
11. 2026-06-07
    pricedays on market $15,000 Active 108 DOM
12. 2026-06-04
    days on market $19,000 Active 105 DOM
13. 2026-06-02
    days on market $19,000 Active 104 DOM
14. 2026-06-01
    days on market $19,000 Active 103 DOM
15. 2026-05-31
    days on market $19,000 Active 102 DOM
16. 2026-04-20
    price $19,000
17. 2026-03-09
    price $24,000
18. 2026-02-18
    listed $30,000 Active
19. 2025-04-22
    historical
20. 2025-03-26
    price $27,000
21. 2025-03-06
    price $30,000
22. 2025-02-12
    price $35,000
23. 2025-01-23
    price $45,000
24. 2025-01-20
    price $49,000
25. 2025-01-06
    listed $55,000 Active
26. 2023-07-28
    soldstatus $28,000 Closed 457-char remark

    Show marketing remark (457 chars)

    This spacious home is on a corner lot and in a peaceful neighborhood in Mangum. The front door enters into a very large living/family room with lots of space. Off of the living room, there is a formal dining room. Each of the four bedrooms is roomy and the master bedroom has a fireplace. There is one bathroom which has a large soaking tub and shower. This home also has the potential to be an investment property. It is being sold “AS IS."

27. 2023-07-03
    status Pending 457-char remark

    Show marketing remark (457 chars)

    This spacious home is on a corner lot and in a peaceful neighborhood in Mangum. The front door enters into a very large living/family room with lots of space. Off of the living room, there is a formal dining room. Each of the four bedrooms is roomy and the master bedroom has a fireplace. There is one bathroom which has a large soaking tub and shower. This home also has the potential to be an investment property. It is being sold “AS IS."

28. 2023-06-01
    listed $40,000 Active 457-char remark

    Show marketing remark (457 chars)

    This spacious home is on a corner lot and in a peaceful neighborhood in Mangum. The front door enters into a very large living/family room with lots of space. Off of the living room, there is a formal dining room. Each of the four bedrooms is roomy and the master bedroom has a fireplace. There is one bathroom which has a large soaking tub and shower. This home also has the potential to be an investment property. It is being sold “AS IS."

29. 2018-05-09
    soldstatus $10,000
30. 2018-04-10
    listed $18,000
31. 2017-06-05
    historical
32. 2015-11-03
    listed $20,000
33. 2009-07-06
    soldstatus $20,000

ⓘ 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: $282 · $24/mo
• Projected year-2 tax: $282 · $24/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥108°F today · 20 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: $15,009
• − Mortgage interest: −$840
• − Property taxes: −$282
• − Insurance: −$75
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$436
• Taxable income: $10,974
• Est. tax owed @ 24.0%: −$2,634
• After-tax cash flow: $7,923/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: Mangum
• NCES district ID: 4018780
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $36,568
• Composite: 22.85/100
• National rank: #8012
• State rank: #89 of 270 in OK

Livability — Mangum

• Score: 65/100
• State rank: #144
• US rank: #13248

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mangum, OK
• Population (ZIP): 3,361

Population outlook (Greer County) Hauer SSP2

• Today (2025): 5,904 people
• By 2030: 5,869 · -0.6%
• By 2040: 5,790 · -1.9%
• By 2050: 5,712 · -3.3%
• By 2075: 5,196 · -12.0%
• By 2100: 4,326 · -26.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Hispanic / Latino 15% Two or more races 8% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Iranian 2% Serbian 2% Slovak 1%
• Foreign-born: 1% · China, Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Greer

• 2024 margin: Solid R (+65.7) · D 16.6% · R 82.3% · Other 1.1%
• 2008→2024 swing: -19.3pp toward R · 2008: -46.5pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+64.7 2016: R+61.1 2012: R+46.7 2008: R+46.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.45%
• Current HPI: 88.9252
• 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

-5.0% since first listed

18 events — show timeline

• 2026-04-20 Price Changed $19,000 MLSOK
• 2026-03-09 Price Changed $24,000 MLSOK
• 2026-02-18 Listed $30,000 MLSOK
• 2025-04-22 Listing Removed — MLSOK
• 2025-03-26 Price Changed $27,000 MLSOK
• 2025-03-06 Price Changed $30,000 MLSOK
• 2025-02-12 Price Changed $35,000 MLSOK
• 2025-01-23 Price Changed $45,000 MLSOK
• 2025-01-20 Price Changed $49,000 MLSOK
• 2025-01-06 Listed $55,000 MLSOK
• 2023-07-28 Sold (MLS) $28,000 MLSOK
• 2023-07-03 Pending — MLSOK
• 2023-06-01 Listed $40,000 MLSOK
• 2018-05-09 Sold (MLS) $10,000 MLSOK
• 2018-04-10 Listed $18,000 MLSOK
• 2017-06-05 Listing Removed — MLSOK
• 2015-11-03 Listed $20,000 MLSOK
• 2009-07-06 Sold (Public Records) $20,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $282 · +4.1% YoY. Source: county tax records.