408 E Salter St · Asher, OK 74826

$139,000

3 bd · 2.0 ba · 1,792 sqft · SingleFamily public records · 36 Days on market

Built 1980 9,522 sqft lot Est $211k · 34% under ↓ 7% since listing

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Why this score? — see what drove the B- 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 +19.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.3/10.0
• 1% rule +4.2/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Welcome home to this spacious 6-bedroom, 2-bath brick home located in the heart of Asher, Oklahoma. With plenty of room for a growing family, this property offers comfort, durability, and small-town charm. Recent updates include a brand-new roof and new hot water heater, giving you peace of mind for years to come. Situated in a quiet rural neighborhood and within walking distance to the local school, this home offers the perfect blend of convenience and tranquility. Don’t miss this opportunity to own a large home in a welcoming community!

Key facts

• New hot water heater
• Brick home
• New roof

Tags

• BRICK HOME
• NEW ROOF
• NEW HOT WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/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 $127k (8.4% below list).
• Recommended offer: $127k (8.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#59 in OK) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Asher (rural): math 30% / reading 35% proficiency, ranked #225 of 513 in OK (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Asher Es (math 22% / reading 27%, grade F, #354 of 845 statewide, top 47%, 218 students, 0% FRL); Asher Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 60 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 17% at this address vs 32% district-wide (-15 pts) — the specific schools serving this property underperform the Asher average; the district grade overstates school quality for this exact location.
• Market conditions: 21 active listings in the ZIP; 183 units permitted in Pottawatomie County in 2024 (16 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($961 loan paydown + $14k appreciation (10.0% local appreciation)).
• Pottawatomie County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $127,381 (8.4% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $211,456
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 E Baker	0.14mi	4/2.0 (+1)	1,536 (-14%)	12mo	$135,000	$88	55
107 N Division St	0.25mi	4/1.0 (+1)	1,664 (-7%)	17mo	$20,000	$12	54
109 W 2nd	0.51mi	3/2.0	1,733 (-3%)	23mo	$217,000	$125	51
202 S Carey St	0.41mi	3/2.0	1,960 (+9%)	22mo	$232,000	$118	47

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

Projected returns pro-forma

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

5-year hold

• IRR: 28.0%
• Equity multiple: 3.22×
• Total profit: $86,408
• Equity at exit: $125,222

10-year hold

• IRR: 24.4%
• Equity multiple: 7.32×
• Total profit: $245,882
• Equity at exit: $270,046

Cash invested: $38,920 (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 74826

• Home prices YoY: 2.9%
• Active inventory: 21
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,274 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$50 /mo · $606/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $169

Break-even live

Break-even rent $1,060

Max offer price $139,000

Occupancy floor 82%

Sensitivity live

Price	-10% $248	-5% $208	+0% $169	+5% $130	+10% $90
Rent	-10% $68	-5% $119	+0% $169	+5% $219	+10% $270
Rate	-1.0pp $239	-0.5pp $204	base $169	+0.5pp $133	+1.0pp $96

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-03
   status Pending
2. 2026-03-24
   price $139,000
3. 2026-02-26
   listed $150,000 Active

ⓘ 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: $606 · $50/mo
• Projected year-2 tax: $1,251 · $104/mo
• Expected delta: +$645/yr (+$54/mo · 106.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,286
• − Mortgage interest: −$7,786
• − Property taxes: −$606
• − Insurance: −$695
• − Repairs & maintenance: −$1,223
• − Management: −$1,223
• − Depreciation: −$4,044
• Taxable loss: −$291
• Est. tax savings @ 24.0%: +$70
• After-tax cash flow: $2,097/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: Asher
• NCES district ID: 4003300
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 35% ▲ 5.00%
• Median HH income: $38,268
• Composite: 29.88/100
• National rank: #11686
• State rank: #225 of 513 in OK

Livability — Asher

• Score: 68/100
• State rank: #59
• US rank: #9171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Asher, OK
• Population (ZIP): 1,213

Population outlook (Pottawatomie County) Hauer SSP2

• Today (2025): 76,622 people
• By 2030: 78,816 · +2.9%
• By 2040: 82,766 · +8.0%
• By 2050: 86,031 · +12.3%
• By 2075: 93,316 · +21.8%
• By 2100: 95,820 · +25.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Native American 10% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Lithuanian 2% Scottish 2% Iranian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Pottawatomie

• 2024 margin: Solid R (+47.4) · D 25.2% · R 72.7% · Other 2.1%
• 2008→2024 swing: -9.1pp toward R · 2008: -38.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.0 2016: R+46.5 2012: R+38.7 2008: R+38.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.72%
• Current HPI: 449.588
• 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

-7.3% since first listed

3 events — show timeline

• 2026-04-03 Pending — MLSOK
• 2026-03-24 Price Changed $139,000 MLSOK
• 2026-02-26 Listed $150,000 MLSOK

Property tax history

+1.4%/yr

Latest (2025): $606 · +2.0% YoY. Source: county tax records.