117 S Mather Ave · Manitou, OK 73555

$20,000

3 bd · 2.0 ba · 980 sqft · Manufactured public records · 13 Days on market

Built 1980 3,500 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

117 S. Mather Manitou, Oklahoma 73555 To be sold as is. 3 bed, 2 bath mobile home. 980 sq ft Built: 1980 Lot size: 3,500 sq ft This property will need some heavy remodeling. Perfect for a DIY and/or someone who has time. It would make a great starter property for a young couple. $20,000 or best offer. Willing to negotiate and sell fast. Extremely cheap annual taxes. Selling on behalf of my in-laws as I manage their properties. Please contact: Shawn Watson 254-413-4551

Key facts

• 3,500 sq ft lot
• Built 1980
• Listed 13 days

Property features AI

Exterior

• Home design: House
• Construction: 980 sq ft living area
• Exterior features: 3500 sq ft lot

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $20k.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($985 rent vs $20k).

Location & tenants

• Location reads 51/100 on livability (#648 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Tipton (rural): math 15% / reading 15% proficiency, ranked #471 of 513 in OK (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tipton Es (math 8% / reading 17%, grade F, #652 of 845 statewide, top 79%, 149 students, 0% FRL); Tipton Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 75 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 2 active listings in the ZIP.

Forward outlook

• In year one you build about $738 of equity ($138 loan paydown + $600 appreciation (3.0% local appreciation)).
• Tillman County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $6k; list at $20k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $20,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 4.93% ✓
• Cap rate: 45.83%
• Cash-on-cash: 141.19%
• DSCR: 7.28
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 8.92×
• Total profit: $44,378
• Equity at exit: $8,993

10-year hold

• IRR: —
• Equity multiple: 18.71×
• Total profit: $99,175
• Equity at exit: $13,859

Cash invested: $5,600 (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 73555

• Active inventory: 2
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$6 /mo · $73/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $659

Break-even live

Break-even rent $151

Max offer price $20,000

Occupancy floor 28%

Sensitivity live

Price	-10% $670	-5% $665	+0% $659	+5% $653	+10% $648
Rent	-10% $581	-5% $620	+0% $659	+5% $698	+10% $737
Rate	-1.0pp $669	-0.5pp $664	base $659	+0.5pp $654	+1.0pp $648

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $20,000 Active 13 DOM
2. 2026-06-21
   days on market $20,000 Active 12 DOM
3. 2026-06-18
   days on market $20,000 Active 10 DOM
4. 2026-06-17
   days on market $20,000 Active 9 DOM
5. 2026-06-16
   days on market $20,000 Active 8 DOM
6. 2026-06-15
   days on market $20,000 Active 7 DOM
7. 2026-06-13
   days on market $20,000 Active 5 DOM
8. 2026-06-12
   days on market $20,000 Active 4 DOM
9. 2026-06-08
   remarks 474-char remark
10. 2026-06-08
    listed $20,000 Active 1 DOM

ⓘ 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: $73 · $6/mo
• Projected year-2 tax: $180 · $15/mo
• Expected delta: +$107/yr (+$9/mo · 146.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $11,821
• − Mortgage interest: −$1,120
• − Property taxes: −$73
• − Insurance: −$100
• − Repairs & maintenance: −$946
• − Management: −$946
• − Depreciation: −$582
• Taxable income: $8,054
• Est. tax owed @ 24.0%: −$1,933
• After-tax cash flow: $5,974/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: Tipton
• NCES district ID: 4030030
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 15% ▼ -10.00%
• Median HH income: $38,655
• Composite: 16.13/100
• National rank: #14284
• State rank: #471 of 513 in OK

Livability — Manitou

• Score: 51/100
• State rank: #648
• US rank: #25139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manitou, OK
• Population (ZIP): 235

Population outlook (Tillman County) Hauer SSP2

• Today (2025): 6,949 people
• By 2030: 6,737 · -3.1%
• By 2040: 6,402 · -7.9%
• By 2050: 6,364 · -8.4%
• By 2075: 7,335 · +5.6%
• By 2100: 9,166 · +31.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 57% Two or more races 22% Hispanic / Latino 17% Native American 7% Black 7%
• Hispanic origin (detail): Mexican 4% Puerto Rican 8%
• Common ancestry: Slovak 3% Scottish 2% Iranian 1%
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Tillman

• 2024 margin: Solid R (+59.5) · D 19.7% · R 79.2% · Other 1.1%
• 2008→2024 swing: -23.8pp toward R · 2008: -35.6pp · 2024: -59.5pp
• All cycles: 2024: R+59.5 2020: R+54.6 2016: R+47.6 2012: R+33.4 2008: R+35.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+233.3% since first listed

2 events — show timeline

• 2026-06-08 Listed $20,000 ForSaleByOwner.com
• 2000-11-30 Sold (Public Records) $6,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $73 · +4.3% YoY. Source: county tax records.