401 W 1st St · Erick, OK 73645

$76,900

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 298 Days on market

Built 1935 1.12 ac lot Est $111k · 30% under

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Why this score? — see what drove the A- 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Appreciation +7.3/10.0
• Schools +4.8/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Charming 2-Bedroom Home in Erick, OK – Updated and Move-In Ready! Welcome to this beautifully updated 2-bedroom, 1-bathroom home located in the heart of Erick, Oklahoma. This well-maintained property features a spacious layout with fresh updates throughout, making it perfect for families, first-time buyers, or anyone looking for a cozy, comfortable space to call home. Step inside to find a bright and inviting living area, an updated kitchen with modern finishes, and two bedrooms. The full bathroom has been tastefully remodeled for both style and function. Outside, enjoy a large yard—ideal for entertaining, gardening, or relaxing under the Oklahoma sky. With plenty of outdoor

Key facts

• New plumbing
• Fresh paint
• Remodeled bathroom

Tags

• UPDATED KITCHEN
• LARGE YARD
• REMODELED BATHROOM
• FRESH PAINT
• NEW ELECTRICAL
• NEW PLUMBING

Property features AI

Finance

• Other: Livestock allowed; Located in Brooks addition; Directions: North into Erick on S Sheb Wooley Ave then left on W 1st Street
• Financial info: Loan qualification possible; Property listed as active
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Home design: Single-family residence; One level; Existing property
• Construction: Frame construction; Metal roof; Combination foundation; Built on existing site
• Exterior features: Covered porch; Outbuildings; Interior, rural lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: One living area; No fireplace; Storm shelter; Homestead eligible

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $77k).
• Recommended offer: $68k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#218 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: amenities F, commute F, employment F.
• Erick (rural): math 50% / reading 60% proficiency, ranked #19 of 513 in OK (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Erick Es (math 52% / reading 57%, grade C, #23 of 845 statewide, top 3%, 152 students, 0% FRL); Erick Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 57 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.
• Zoned-school proficiency averages 40% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Erick average; the district grade overstates school quality for this exact location.
• Market conditions: 19 active listings in the ZIP; 16 units permitted in Beckham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($532 loan paydown + $4k appreciation (4.6% local appreciation)).
• Beckham County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, 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 298 days — a 12% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $77k implies a 805% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,672 (12.0% below list)

Questions for the listing agent

1. It's been on market 298 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 1935 — 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. 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: 1.28% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $110,580
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 N Walnut St	0.20mi	3/2.0	1,160 (-0%)	21mo	$110,000	$95	68
104 S Cedar Ave	0.26mi	2/2.0 (-1)	1,104 (-5%)	23mo	$38,000	$34	51

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

Projected returns pro-forma

4.57% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.46×
• Total profit: $31,368
• Equity at exit: $41,600

10-year hold

• IRR: 23.3%
• Equity multiple: 4.83×
• Total profit: $82,403
• Equity at exit: $70,212

Cash invested: $21,532 (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 73645

• Home prices YoY: 4.4%
• Active inventory: 19
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $981 medium
• Mortgage (P&I): −$403
• Tax est. 1.5%: −$96 /mo · $1,154/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $243

Break-even live

Break-even rent $673

Max offer price $76,900

Occupancy floor 70%

Sensitivity live

Price	-10% $296	-5% $270	+0% $243	+5% $217	+10% $190
Rent	-10% $166	-5% $204	+0% $243	+5% $282	+10% $321
Rate	-1.0pp $282	-0.5pp $263	base $243	+0.5pp $223	+1.0pp $203

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: $19,225
• Closing costs: $2,307
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $76,900 Active 298 DOM
2. 2026-06-21
   days on market $76,900 Active 297 DOM
3. 2026-06-18
   days on market $76,900 Active 295 DOM
4. 2026-06-17
   days on market $76,900 Active 294 DOM
5. 2026-06-16
   days on market $76,900 Active 293 DOM
6. 2026-06-15
   days on market $76,900 Active 292 DOM
7. 2026-06-13
   days on market $76,900 Active 290 DOM
8. 2026-06-12
   days on market $76,900 Active 289 DOM
9. 2026-06-09
   days on market $76,900 Active 286 DOM
10. 2026-06-08
    days on market $76,900 Active 285 DOM
11. 2026-06-08
    days on market $76,900 Active 284 DOM
12. 2026-06-07
    days on market $76,900 Active 283 DOM
13. 2026-06-04
    days on market $76,900 Active 280 DOM
14. 2026-06-02
    days on market $76,900 Active 279 DOM
15. 2026-06-01
    days on market $76,900 Active 278 DOM
16. 2026-05-31
    days on market $76,900 Active 277 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $11,766
• − Mortgage interest: −$4,308
• − Property taxes: −$1,154
• − Insurance: −$384
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$2,237
• Taxable income: $1,801
• Est. tax owed @ 24.0%: −$432
• After-tax cash flow: $2,486/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: Erick
• NCES district ID: 4011040
• Math proficiency: 50% ▲ 5.00%
• Reading proficiency: 60% ▲ 5.00%
• Median HH income: $39,189
• Composite: 47.69/100
• National rank: #4918
• State rank: #19 of 513 in OK

Livability — Erick

• Score: 63/100
• State rank: #218
• US rank: #15619

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Erick, OK
• Population (ZIP): 1,090

Population outlook (Beckham County) Hauer SSP2

• Today (2025): 26,564 people
• By 2030: 28,217 · +6.2%
• By 2040: 31,865 · +20.0%
• By 2050: 35,862 · +35.0%
• By 2075: 47,189 · +77.6%
• By 2100: 55,622 · +109.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 12% Two or more races 10% Native American 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 5% Lithuanian 3% Slovak 1%
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Beckham

• 2024 margin: Solid R (+70.1) · D 14.2% · R 84.3% · Other 1.4%
• 2008→2024 swing: -14.0pp toward R · 2008: -56.1pp · 2024: -70.1pp
• All cycles: 2024: R+70.1 2020: R+72.0 2016: R+70.8 2012: R+59.1 2008: R+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.57%
• Current HPI: 108.667
• 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

+804.7% since first listed

7 events — show timeline

• 2026-05-28 Relisted — MLSOK
• 2026-03-14 Relisted — MLSOK
• 2026-03-12 Pending — MLSOK
• 2026-02-26 Price Changed $76,900 MLSOK
• 2025-09-10 Price Changed $86,900 MLSOK
• 2025-08-13 Listed $96,900 MLSOK
• 2011-07-29 Sold (Public Records) $8,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $117 · +5.4% YoY. Source: county tax records.