604 Indiana Ave · Optima, OK 73942

$185,000

5 bd · 2.0 ba · 2,072 sqft · Manufactured public records

Built 1998 1.00 ac lot Est $184k · at est.

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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 +13.2/30.0
• ARV discount +7.4/15.0
• Schools +5.0/10.0
• DSCR +4.0/10.0
• Livability +2.9/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Listing – Spacious Home on 1 Acre! This 5-bedroom, 2-bathroom home sits on a full acre with no restrictions, giving you the freedom to keep livestock and enjoy country living. The property features a newly updated kitchen with the refrigerator and stove included. Major updates have already been taken care of, including a roof that is only 3 years old and siding replaced 5 years ago. Much of the home also features new flooring, adding a fresh and comfortable feel throughout. Outside, you’ll find a 3-year-old garage that provides excellent storage and workspace. A mower is also included, making it even easier to maintain the spacious yard. Properties with this much space and flexibility don’t stay on the market long. Call today to schedule a showing and make this home yours!

Key facts

• 1 acre lot
• Garage
• Built 1998

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $-4 ($-46/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (22.7% below list).
• Recommended offer: $143k (22.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#421 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Market conditions: 44 active listings in the ZIP; 4 units permitted in Texas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Texas County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $90k; list at $185k implies a 106% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $143,034 (22.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.77% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.09%
• DSCR: 1.00
• GRM: 10.8

CMA / ARV

• ARV (on-the-fly): $184,408
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 Indiana Ave	0.00mi	5/2.0	2,072 (0%)	1mo	$185,000	$89	99

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-30,291
• Equity at exit: $27,584

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-26,967
• Equity at exit: $15,995

Cash invested: $51,800 (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 73942

• Active inventory: 44
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$87 /mo · $1,039/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $-4

Break-even live

Break-even rent $1,435

Max offer price $184,318

Occupancy floor 95%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-03-23
   historical 806-char remark

   Show marketing remark (806 chars)

   New Listing – Spacious Home on 1 Acre! This 5-bedroom, 2-bathroom home sits on a full acre with no restrictions, giving you the freedom to keep livestock and enjoy country living. The property features a newly updated kitchen with the refrigerator and stove included. Major updates have already been taken care of, including a roof that is only 3 years old and siding replaced 5 years ago. Much of the home also features new flooring, adding a fresh and comfortable feel throughout. Outside, you’ll find a 3-year-old garage that provides excellent storage and workspace. A mower is also included, making it even easier to maintain the spacious yard. Properties with this much space and flexibility don’t stay on the market long. Call today to schedule a showing and make this home yours!

2. 2026-03-13
   listed $185,000 806-char remark

   Show marketing remark (806 chars)

   New Listing – Spacious Home on 1 Acre! This 5-bedroom, 2-bathroom home sits on a full acre with no restrictions, giving you the freedom to keep livestock and enjoy country living. The property features a newly updated kitchen with the refrigerator and stove included. Major updates have already been taken care of, including a roof that is only 3 years old and siding replaced 5 years ago. Much of the home also features new flooring, adding a fresh and comfortable feel throughout. Outside, you’ll find a 3-year-old garage that provides excellent storage and workspace. A mower is also included, making it even easier to maintain the spacious yard. Properties with this much space and flexibility don’t stay on the market long. Call today to schedule a showing and make this home yours!

3. 2021-05-04
   soldstatus $90,000
4. 2015-12-03
   soldstatus $50,000
5. 2001-09-04
   soldstatus $56,000
6. 1998-02-27
   soldstatus $18,000

ⓘ 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: $1,039 · $87/mo
• Projected year-2 tax: $1,665 · $139/mo
• Expected delta: +$626/yr (+$52/mo · 60.3%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,164
• − Mortgage interest: −$10,363
• − Property taxes: −$1,039
• − Insurance: −$925
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$5,382
• Taxable loss: −$3,291
• Est. tax savings @ 24.0%: +$790
• After-tax cash flow: $744/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)

No district data.

Livability — Optima

• Score: 58/100
• State rank: #421
• US rank: #20912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Optima, OK
• Population (ZIP): 13,659

Population outlook (Texas County) Hauer SSP2

• Today (2025): 22,936 people
• By 2030: 23,733 · +3.5%
• By 2040: 25,578 · +11.5%
• By 2050: 27,732 · +20.9%
• By 2075: 32,511 · +41.7%
• By 2100: 35,649 · +55.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 58% White 31% Two or more races 21% Black 6% Native American 5% Asian 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Slovak 1% Lithuanian 1% Iranian 1%
• Foreign-born: 28% · Canada
• Languages at home: 51% English-only · Spanish 42% Tagalog/Filipino 2% Arabic 1%

Political lean MEDSL · Texas

• 2024 margin: Solid R (+67.7) · D 15.2% · R 83.0% · Other 1.8%
• 2008→2024 swing: +2.8pp toward D · 2008: -70.5pp · 2024: -67.7pp
• All cycles: 2024: R+67.7 2020: R+65.4 2016: R+65.2 2012: R+70.4 2008: R+70.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.70%
• Current HPI: 150.7505
• 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

+927.8% since first listed

6 events — show timeline

• 2026-03-23 Delisted — GardenMLS
• 2026-03-13 Listed $185,000 GardenMLS
• 2021-05-04 Sold (Public Records) $90,000 Public Records
• 2015-12-03 Sold (Public Records) $50,000 Public Records
• 2001-09-04 Sold (Public Records) $56,000 Public Records
• 1998-02-27 Sold (Public Records) $18,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $1,039 · +59.6% YoY. Source: county tax records.