4297 Peak Ln · Elgin, OK 73538

$385,000

4 bd · 2.0 ba · 2,192 sqft · Land public records · 151 Days on market

Built 2024 0.70 ac lot ↓ 1% since listing

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +4.3/30.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks

SELLER OFFERING UP TO $10K IN BUYER CONCESSIONS - Rate buydown, closing costs, privacy fence, or anything else you may want to use it for! This NEW HOME also comes with a 5-year home warranty through American Home Shield! Bursting with desirable add-ons, including gutters, a fridge, a wine fridge, and more. The isolated primary suite is conveniently located near the laundry room, complete with a spacious walk-in closet and 5-piecebathroom with jetted tub. The great room gets flooded with natural lighting throughout the day thanks to the large windows, and the kitchen has a large pantry for all your dry goods. Enjoy tranquil nights by the fireplace or fun summers in the yard. This home sits

Key facts

• 5-piece bathroom
• Walk-in closet
• Large pantry

Tags

• WINE FRIDGE
• WALK-IN CLOSET
• 5-PIECE BATHROOM
• JETTED TUB
• LARGE PANTRY
• FIREPLACE

Property features AI

Finance

• Other: Lot approximately 0.699 acres (public maintained city street access)

Exterior

• Parking: 3 parking spaces (3 covered); 3-car garage with garage door opener; Driveway; Has open parking
• Utilities: Natural gas available; Septic tank
• Home design: Single family residence; One story; New construction; Residential property
• Construction: Brick veneer construction; Composition roof; Slab foundation; Built as new construction
• Exterior features: Covered patio and porch; Patio; Porch; Spa / hot tub

Interior

• Kitchen: Microwave; Dishwasher; Disposal; Refrigerator; Wine refrigerator; Oven; Range hood; Gas water heater
• Flooring: Ceramic tile; Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Fireplace(s) with insert; Central air; Ceiling fans; Electric cooling
• Interior features: Walk-in closets; Pantry; Vaulted ceilings; Granite counters; Double pane windows; Electric fireplace insert
• Laundry & utility: Washer hookup

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $385k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $238k (38.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (46.0% below list).
• Recommended offer: $208k (46.0% below list) — sets the bar for 1% rule.
• Cap rate 3.1% vs local median 5.1% in Elgin — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 73/100 on livability (#17 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Elgin (rural): math 29% / reading 36% proficiency, ranked #38 of 270 in OK (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elgin Es (math 36% / reading 33%, grade F, #168 of 845 statewide, top 24%, 945 students, 0% FRL); Elgin Ms (math 26% / reading 34%, grade F, #49 of 345 statewide, top 15%, 791 students, 0% FRL); Elgin Hs (math 27% / reading 47%, grade F, #42 of 447 statewide, top 10%, 771 students, 0% FRL) — zoned schools average 0% FRL vs 29% district-wide (29 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 95 active listings in the ZIP; solid renter incomes; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$66k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $207,901 (46.0% 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 151 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
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. 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: 0.54% ✗
• Cap rate: 3.12%
• Cash-on-cash: -11.33%
• DSCR: 0.50
• GRM: 15.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.4%
• Equity multiple: 2.34×
• Total profit: $144,861
• Equity at exit: $346,839

10-year hold

• IRR: 15.7%
• Equity multiple: 5.43×
• Total profit: $477,653
• Equity at exit: $747,970

Cash invested: $107,800 (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 73538

• Home prices YoY: 22.9%
• Active inventory: 95
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $2,079 medium
• Mortgage (P&I): −$2,019
• Tax est. 1.5%: −$481 /mo · $5,775/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-1,018

Break-even live

Break-even rent $3,368

Max offer price $237,660

Occupancy floor —

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: $96,250
• Closing costs: $11,550
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $385,000 Active 151 DOM
2. 2026-06-18
   days on market $385,000 Active 150 DOM
3. 2026-06-17
   days on market $385,000 Active 149 DOM
4. 2026-06-16
   days on market $385,000 Active 148 DOM
5. 2026-06-15
   price $385,000 Active 147 DOM
6. 2026-06-15
   days on market $395,000 Active 147 DOM
7. 2026-06-14
   days on market $395,000 Active 145 DOM
8. 2026-06-13
   days on market $395,000 Active 144 DOM
9. 2026-06-10
   days on market $395,000 Active 142 DOM
10. 2026-06-09
    days on market $395,000 Active 141 DOM
11. 2026-06-08
    days on market $395,000 Active 140 DOM
12. 2026-06-07
    days on market $395,000 Active 139 DOM
13. 2026-06-05
    days on market $395,000 Active 136 DOM
14. 2026-06-02
    days on market $395,000 Active 134 DOM
15. 2026-06-01
    days on market $395,000 Active 133 DOM
16. 2026-05-31
    days on market $395,000 Active 132 DOM
17. 2026-05-30
    days on market $395,000 Active 131 DOM
18. 2026-05-12
    price $395,000
19. 2026-04-15
    price $398,000
20. 2026-01-13
    listed $399,000 Active
21. 2025-09-03
    listed $399,000 Active

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $24,948
• − Mortgage interest: −$21,566
• − Property taxes: −$5,775
• − Insurance: −$1,925
• − Repairs & maintenance: −$1,996
• − Management: −$1,996
• − Depreciation: −$11,200
• Taxable loss: −$19,510
• Est. tax savings @ 24.0%: +$4,682
• After-tax cash flow: $-7,536/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: Elgin
• NCES district ID: 4010710
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $65,900
• Composite: 29.77/100
• National rank: #6432
• State rank: #38 of 270 in OK

Livability — Elgin

• Score: 73/100
• State rank: #17
• US rank: #5411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Comanche County · 96,361 people
• City population: 7,128
• Metro: Lawton, OK
• Population (ZIP): 7,128
• Household income: $91,324
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 70.0

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 124,518 people
• By 2030: 124,231 · -0.2%
• By 2040: 122,193 · -1.9%
• By 2050: 120,368 · -3.3%
• By 2075: 120,492 · -3.2%
• By 2100: 123,113 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 13% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Comanche

• 2024 margin: Strong R (+23.3) · D 37.4% · R 60.7% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -17.5pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+20.1 2016: R+23.7 2012: R+17.0 2008: R+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 45.70%
• Current HPI: 245.4249
• Rent YoY: —
• Metro: Lawton, OK
• 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

-1.0% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $395,000 LBRMLS
• 2026-04-15 Price Changed $398,000 LBRMLS
• 2026-01-13 Listed $399,000 LBRMLS
• 2025-09-03 Listed $399,000 LBRMLS

Property tax history

+0.0%/yr

Latest (2025): $1 · +0.0% YoY. Source: county tax records.