121 E 2nd St · Custer City, OK 73639

$154,000

3 bd · 2.0 ba · 1,219 sqft · SingleFamily public records · 193 Days on market

Built 1978 0.40 ac lot

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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 +16.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• DSCR +5.0/10.0
• Schools +3.4/10.0
• 1% rule +3.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

BRAND NEW ROOF!!!! New Timberline HDZ class 3, impact resistant, 30 yr, with a MFG warranty that will transfer to the new owner. Wake up to a safe, quiet, peaceful life in this charming home. Where the rhythm of life is unhurried and calm. Enjoy the decades old stately mature trees this property has to offer. Lots of shade and character for the backyard that is completely fenced for privacy. The home has been well cared for by the owner occupant and will make a great place to live and raise your family. With a slab foundation and composition roof this home is durable and practical. The layout is efficient and adaptable with spaces just where you need them. There is a very large lot and a 33

Key facts

• Slab foundation
• Large lot
• Composition roof

Tags

• FENCED BACKYARD
• SLAB FOUNDATION
• COMPOSITION ROOF
• LARGE LOT

Property features AI

Finance

• Other: No storm shelter; No livestock; Located in Custer City Original addition
• Financial info: Not assumable; Loan qualification possible
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage; Additional parking on concrete
• Utilities: Cable available; High-speed internet available; Public utilities
• Home design: Single-family residence; One story; Faces southeast; Existing property; Homestead exempt
• Construction: Brick construction; Composition roof; Slab foundation
• Exterior features: Covered patio; Outbuildings; Corner lot

Interior

• Kitchen: Free-standing electric range/oven
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: One living area; One dining area; No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $78 ($931/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (16.9% below list).
• Recommended offer: $128k (16.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#504 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Thomas-Fay-Custer Unified District (rural): math 41% / reading 40% proficiency, ranked #18 of 270 in OK (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thomas Es (math 57% / reading 42%, grade D, #42 of 845 statewide, top 5%, 260 students, 0% FRL); Thomas-Fay-Custer Unified Hs (math 30% / reading 50%, grade F, #25 of 447 statewide, top 8%, 93 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (2.4% local appreciation)).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $154k implies a 157% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,027 (16.9% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. 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?
6. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $90,206
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 S Elm St	0.36mi	3/2.0	1,344 (+10%)	6mo	$100,000	$74	61
401 S Walnut	0.22mi	3/1.0	1,161 (-5%)	23mo	$28,900	$25	59

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

Projected returns pro-forma

2.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.43×
• Total profit: $18,568
• Equity at exit: $64,072

10-year hold

• IRR: 10.8%
• Equity multiple: 2.51×
• Total profit: $65,318
• Equity at exit: $94,894

Cash invested: $43,120 (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 73639

• Home prices YoY: 1.0%
• Active inventory: 6
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$62 /mo · $745/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $78

Break-even live

Break-even rent $1,182

Max offer price $154,000

Occupancy floor 89%

Sensitivity live

Price	-10% $165	-5% $121	+0% $78	+5% $34	+10% $-10
Rent	-10% $-24	-5% $27	+0% $78	+5% $128	+10% $179
Rate	-1.0pp $155	-0.5pp $117	base $78	+0.5pp $38	+1.0pp $-3

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $154,000 Active 193 DOM
2. 2026-06-21
   days on market $154,000 Active 192 DOM
3. 2026-06-18
   days on market $154,000 Active 190 DOM
4. 2026-06-17
   days on market $154,000 Active 189 DOM
5. 2026-06-16
   days on market $154,000 Active 188 DOM
6. 2026-06-15
   days on market $154,000 Active 187 DOM
7. 2026-06-13
   days on market $154,000 Active 185 DOM
8. 2026-06-12
   days on market $154,000 Active 184 DOM
9. 2026-06-09
   days on market $154,000 Active 181 DOM
10. 2026-06-08
    days on market $154,000 Active 180 DOM
11. 2026-06-08
    days on market $154,000 Active 179 DOM
12. 2026-06-05
    days on market $154,000 Active 177 DOM
13. 2026-06-04
    days on market $154,000 Active 175 DOM
14. 2026-06-02
    days on market $154,000 Active 174 DOM
15. 2026-06-01
    days on market $154,000 Active 173 DOM
16. 2026-05-31
    days on market $154,000 Active 172 DOM
17. 2026-04-02
    price $154,000
18. 2026-02-09
    price $180,000
19. 2025-12-01
    listed $205,000 Active
20. 1999-12-22
    soldstatus $60,000

ⓘ 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: $745 · $62/mo
• Projected year-2 tax: $1,386 · $116/mo
• Expected delta: +$641/yr (+$53/mo · 86.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 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: $15,363
• − Mortgage interest: −$8,626
• − Property taxes: −$745
• − Insurance: −$770
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$4,480
• Taxable loss: −$1,716
• Est. tax savings @ 24.0%: +$412
• After-tax cash flow: $1,343/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: Thomas-Fay-Custer Unified District
• NCES district ID: 4000015
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 40% ▼ -9.00%
• Median HH income: $44,687
• Composite: 34.41/100
• National rank: #5203
• State rank: #18 of 270 in OK

Livability — Custer City

• Score: 56/100
• State rank: #504
• US rank: #22498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Custer City, OK
• Population (ZIP): 734

Population outlook (Custer County) Hauer SSP2

• Today (2025): 34,356 people
• By 2030: 37,162 · +8.2%
• By 2040: 43,354 · +26.2%
• By 2050: 50,458 · +46.9%
• By 2075: 71,075 · +106.9%
• By 2100: 91,129 · +165.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 10% Two or more races 8% Native American 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 1% Romanian 1% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Custer

• 2024 margin: Solid R (+53.2) · D 22.4% · R 75.7% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: -49.3pp · 2024: -53.2pp
• All cycles: 2024: R+53.2 2020: R+53.2 2016: R+54.3 2012: R+51.9 2008: R+49.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.40%
• Current HPI: 244.3376
• 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

+156.7% since first listed

4 events — show timeline

• 2026-04-02 Price Changed $154,000 MLSOK
• 2026-02-09 Price Changed $180,000 MLSOK
• 2025-12-01 Listed $205,000 MLSOK
• 1999-12-22 Sold (Public Records) $60,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $745 · +3.3% YoY. Source: county tax records.