1011 Eula St · Altus, OK 73521

$124,000

2 bd · 1.0 ba · 999 sqft · SingleFamily public records · 337 Days on market

Built 1950 9,784 sqft lot Est $102k · 22% over

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Why this score? — see what drove the F 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 +11.6/30.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

INVESTMENT OPPORTUNITY! This home is currently rented out on a 1 year lease. This home has a NEW water heater, a NEW main water line, NEW gas lines, NEW PEX plumbing throughout, NEW sewer line, NEW windows, completely NEW central HVAC system, NEW siding, NEW floors throughout - this home is ready for its NEW owner, could that be you?? This adorable home has 3 bedrooms, all with fresh paint! The backyard has a carport and easy access to the alleyway. If you ever thought about investing in real estate - this home is for you! * Listing agent is principle owner. DO NOT DISTURB THE TENANT.

Key facts

• New main water line
• New pex plumbing
• New water heater

Tags

• NEW WATER HEATER
• NEW MAIN WATER LINE
• NEW PEX PLUMBING
• NEW SEWER LINE
• NEW WINDOWS
• NEW CENTRAL HVAC SYSTEM

Property features AI

Finance

• Other: Occupied (rented); Owner is an associate
• Financial info: Financing options: Cash, Conventional, FHA or VA; Loan qualifying possible; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Utilities: Electricity available; Natural gas available
• Home design: Single-family residence; One level; Existing property
• Construction: Frame construction; Architectural shingle roof; Combination foundation; Built as part of the Asalee addition
• Exterior features: Interior lot

Interior

• Kitchen: Free‑standing electric range/oven
• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating
• Interior features: Ceiling fans
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $-40 ($-476/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (29.4% below list).
• Recommended offer: $88k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 Early Childhood Center (390 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 $857 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 1950 — 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 $87,528 (29.4% 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. It's been on market 337 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.71% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $101,898
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1103 Asalee St	0.16mi	3/1.0 (+1)	1,025 (+3%)	2mo	$122,000	$119	82
1120 Burns St	0.21mi	3/1.5 (+1)	1,073 (+7%)	1mo	$109,000	$102	70
1101 George St	0.26mi	2/1.0	1,082 (+8%)	6mo	$127,000	$117	69
1108 Burns St	0.18mi	3/1.0 (+1)	950 (-5%)	11mo	$33,000	$35	69
1017 E Loyadell St	0.09mi	3/1.5 (+1)	1,080 (+8%)	8mo	$80,000	$74	69
1125 Maple St	0.42mi	2/1.0	1,022 (+2%)	10mo	$110,000	$108	68
1028 E Walnut St	0.55mi	2/1.0	955 (-4%)	1mo	$65,000	$68	67
1038 E Walnut St	0.55mi	2/1.0	923 (-8%)	3mo	$85,000	$92	60
1229 E Ridgecrest Rd	0.49mi	3/2.0 (+1)	1,036 (+4%)	4mo	$132,000	$127	58
915 E Hickory St	0.32mi	3/2.0 (+1)	1,111 (+11%)	2mo	$117,000	$105	55
613 Mars St	0.54mi	3/1.0 (+1)	925 (-7%)	11mo	$59,000	$64	48
1046 E Coe St	0.38mi	3/1.5 (+1)	1,120 (+12%)	13mo	$45,000	$40	44

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: -18.6%
• Equity multiple: 0.35×
• Total profit: $-22,682
• Equity at exit: $18,489

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-23,261
• Equity at exit: $10,721

Cash invested: $34,720 (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: 11.8×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$29 /mo · $350/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $-40

Break-even live

Break-even rent $925

Max offer price $116,999

Occupancy floor 100%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-04
   days on market $124,000 Active 337 DOM
2. 2026-06-02
   days on market $124,000 Active 336 DOM
3. 2026-06-01
   days on market $124,000 Active 335 DOM
4. 2026-05-31
   days on market $124,000 Active 334 DOM
5. 2025-07-01
   listed $124,000 Active
6. 2018-12-11
   historical
7. 2017-05-17
   listed $10,000

ⓘ 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: $350 · $29/mo
• Projected year-2 tax: $1,116 · $93/mo
• Expected delta: +$766/yr (+$64/mo · 218.9%)

ⓘ 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: $10,503
• − Mortgage interest: −$6,946
• − Property taxes: −$350
• − Insurance: −$620
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$3,607
• Taxable loss: −$2,700
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $173/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

+1140.0% since first listed

3 events — show timeline

• 2025-07-01 Listed $124,000 MLSOK
• 2018-12-11 Listing Removed — MLSOK
• 2017-05-17 Listed $10,000 MLSOK

Property tax history

+6.8%/yr

Latest (2025): $350 · +4.5% YoY. Source: county tax records.