1301 N Crain St · Altus, OK 73521

$99,900

3 bd · 2.0 ba · 1,693 sqft · SingleFamily public records · 19 Days on market

Built 1955 8,324 sqft lot Est $174k · 43% under ↓ 17% since listing

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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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Thinking about homeownership? Own This 3-Bedroom Home for Less Than You Think! Seller Now Offering Up to $6,000 Toward Buyer’s Closing Costs with an Acceptable Offer. That means lower out-of-pocket expenses and a real opportunity to step into homeownership without draining your savings. This charming corner-lot home offers nearly 1,700 sq ft of living space with 3 bedrooms and 1 bath, combining space, updates, and affordability in one smart package. Step into a bright, spacious living room filled with natural light, while the updated kitchen features new cabinetry, countertops, and modern lighting with ample storage. A second living or den area provides flexibility and includes a cozy

Key facts

• Corner-lot home
• New siding
• Updated kitchen

Tags

• CORNER-LOT HOME
• UPDATED KITCHEN
• COZY WOOD-BURNING FIREPLACE
• NEW ROOF
• NEW SIDING
• REPLACED INTERIOR HVAC UNIT

Property features AI

Finance

• Other: Directions: On main St turn east on Corbin St.
• Financial info: Loan financing available; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Detached or attached 2-car garage
• Utilities: Homestead eligible
• Home design: Single-family residence; Residential property; Existing property
• Construction: Composition roof; Other construction materials; Built previously (existing)
• Exterior features: Corner lot; No additional exterior features listed; Located in Corbin & Russell 2 addition

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One-level living; Two living areas; Fireplace (1) with other fireplace features; Combination foundation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.7% in Altus — 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 (#151 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Altus (town): math 31% / reading 28% proficiency, ranked #69 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Altus Es (math 27% / reading 17%, grade F, #413 of 845 statewide, top 54%, 408 students, 0% FRL); Altus Hs (math 21% / reading 26%, grade F, #218 of 447 statewide, top 49%, 921 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 165 active listings in the ZIP; 8 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jackson County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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: 1.22% ✓
• Cap rate: 10.51%
• Cash-on-cash: 15.07%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $174,379
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1020 N Lee St	0.27mi	3/1.0	1,816 (+7%)	1mo	$145,000	$80	71
1729 N Hudson St	0.45mi	3/2.0	1,607 (-5%)	1mo	$79,900	$50	69
124 Cameron Dr	0.61mi	3/2.0	1,648 (-3%)	1mo	$170,000	$103	66
1613 N Lee St	0.33mi	3/2.0	1,500 (-11%)	1mo	$184,000	$123	65
305 S Mockingbird Dr	0.63mi	3/2.0	1,646 (-3%)	3mo	$170,000	$103	64
2015 Willard Dr	0.60mi	3/2.0	1,647 (-3%)	8mo	$209,000	$127	61
1800 Sunset Dr	0.46mi	3/1.5	1,565 (-8%)	6mo	$112,000	$72	59
304 N Cardinal Cir	0.66mi	3/2.0	1,770 (+4%)	3mo	$250,000	$141	59
313 William Dr	0.72mi	3/2.0	1,650 (-2%)	5mo	$223,000	$135	58
520 N Grady St	0.69mi	3/1.0	1,778 (+5%)	1mo	$111,000	$62	54
1919 Sumner Dr	0.64mi	3/1.5	1,821 (+8%)	7mo	$202,000	$111	50
520 N Hudson St	0.61mi	3/2.5	1,500 (-11%)	11mo	$36,849	$25	41

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $6,164
• Equity at exit: $14,895

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $34,073
• Equity at exit: $8,638

Cash invested: $27,972 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 165
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,224 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $351

Break-even live

Break-even rent $779

Max offer price $99,900

Occupancy floor 66%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-07
   statusdays on market $99,900 Pending 19 DOM
2. 2026-06-04
   days on market $99,900 Active 17 DOM
3. 2026-06-02
   days on market $99,900 Active 16 DOM
4. 2026-06-01
   days on market $99,900 Active 15 DOM
5. 2026-05-31
   days on market $99,900 Active 14 DOM
6. 2026-05-17
   listed $99,900 Active
7. 2026-05-15
   historical
8. 2026-01-26
   listed $99,900 Active
9. 2025-12-27
   historical
10. 2025-08-05
    status Active
11. 2025-07-16
    status Pending
12. 2025-06-27
    listed $105,000 Active
13. 2022-07-30
    historical
14. 2022-06-03
    price $110,000
15. 2022-04-23
    listed $120,000 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: $598 · $50/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$301/yr (+$25/mo · 50.4%)

ⓘ 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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $14,685
• − Mortgage interest: −$5,596
• − Property taxes: −$598
• − Insurance: −$500
• − Repairs & maintenance: −$1,175
• − Management: −$1,175
• − Depreciation: −$2,906
• Taxable income: $2,735
• Est. tax owed @ 24.0%: −$656
• After-tax cash flow: $3,560/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: Altus
• NCES district ID: 4002850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $40,607
• Composite: 24.91/100
• National rank: #7574
• State rank: #69 of 270 in OK

Livability — Altus

• Score: 65/100
• State rank: #151
• US rank: #13386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altus, OK
• City population: 20,574
• Population (ZIP): 20,352

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 24,084 people
• By 2030: 23,476 · -2.5%
• By 2040: 22,731 · -5.6%
• By 2050: 22,586 · -6.2%
• By 2075: 25,413 · +5.5%
• By 2100: 31,069 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 15% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.3) · D 19.9% · R 78.2% · Other 1.9%
• 2008→2024 swing: -8.7pp toward R · 2008: -49.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.7 2016: R+57.6 2012: R+50.7 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.26%
• Current HPI: 178.7106
• 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

-16.8% since first listed

10 events — show timeline

• 2026-05-17 Listed $99,900 MLSOK
• 2026-05-15 Listing Removed — MLSOK
• 2026-01-26 Listed $99,900 MLSOK
• 2025-12-27 Listing Removed — MLSOK
• 2025-08-05 Relisted — MLSOK
• 2025-07-16 Pending — MLSOK
• 2025-06-27 Listed $105,000 MLSOK
• 2022-07-30 Listing Removed — MLSOK
• 2022-06-03 Price Changed $110,000 MLSOK
• 2022-04-23 Listed $120,000 MLSOK

Property tax history

+8.5%/yr

Latest (2025): $598 · +0.0% YoY. Source: county tax records.