403 N Hitchcock St · Hobart, OK 73651

$115,000

3 bd · 2.0 ba · 1,300 sqft · SingleFamily public records · 1 Days on market

Built 1940 7,000 sqft lot Est $81k · 43% over

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Why this score? — see what drove the C 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 +25.5/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• 1% rule +5.3/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0

Listing remarks

Looking for a spacious home with room to grow? This 3-bedroom, 2-bath property offers generous living space, abundant storage, and endless potential. Inside, you’ll find a large living room, spacious dining area, and beautiful custom cabinetry throughout, adding both character and functionality. The home also features central heat and air with a well-maintained HVAC system that’s only 4 years old, two hot water heaters, and an attached garage. Outside, a storage shed provides even more room for tools and equipment. With its spacious layout and solid features, this home is ready for you to make it your own.

Key facts

• Custom cabinetry
• Central heat and air
• Storage shed

Tags

• CUSTOM CABINETRY
• CENTRAL HEAT AND AIR
• WELL-MAINTAINED HVAC SYSTEM
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).

Location & tenants

• Location reads 53/100 on livability (#627 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D+, schools F, amenities F.
• Hobart (town): math 23% / reading 28% proficiency, ranked #110 of 270 in OK (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 54 active listings in the ZIP.

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 D 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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $80,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 N Hitchcock St	0.02mi	3/1.0	1,372 (+6%)	6mo	$5,000	$4	81
329 N Bailey St	0.08mi	3/2.0	1,132 (-13%)	4mo	$70,000	$62	71
512 N Randlett St	0.20mi	3/1.0	1,248 (-4%)	11mo	$115,000	$92	71
613 N Broadway	0.37mi	3/2.0	1,407 (+8%)	6mo	$115,000	$82	64
325 W Dogwood St	0.30mi	2/1.0 (-1)	1,246 (-4%)	9mo	$73,000	$59	63
215 N Washington	0.41mi	3/2.0	1,416 (+9%)	9mo	$139,500	$99	59
200 S Pueblo Ave	0.41mi	3/2.0	1,232 (-5%)	19mo	$100,000	$81	56
400 N Stephens St	0.11mi	2/1.5 (-1)	1,123 (-14%)	13mo	$109,500	$98	55
229 S Hill St	0.49mi	2/1.0 (-1)	1,254 (-4%)	15mo	$45,000	$36	50
118 S Hitchcock St	0.32mi	3/1.0	1,456 (+12%)	20mo	$11,666	$8	44
409 S Park Rd	0.62mi	3/1.0	1,366 (+5%)	18mo	$79,000	$58	43
416 S Hill St	0.64mi	2/1.0 (-1)	1,188 (-9%)	20mo	$16,666	$14	30

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: 31.5%
• Equity multiple: 3.47×
• Total profit: $79,611
• Equity at exit: $103,601

10-year hold

• IRR: 27.3%
• Equity multiple: 7.86×
• Total profit: $220,931
• Equity at exit: $223,420

Cash invested: $32,200 (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 73651

• Home prices YoY: 8.0%
• Active inventory: 54
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$22 /mo · $261/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $267

Break-even live

Break-even rent $852

Max offer price $115,000

Occupancy floor 73%

Sensitivity live

Price	-10% $333	-5% $300	+0% $267	+5% $235	+10% $202
Rent	-10% $173	-5% $220	+0% $267	+5% $314	+10% $362
Rate	-1.0pp $325	-0.5pp $297	base $267	+0.5pp $238	+1.0pp $207

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   remarks 613-char remark
2. 2026-06-21
   days on marketlisting id $115,000 Active 1 DOM
3. 2026-06-18
   days on market $115,000 Active 13 DOM
4. 2026-06-17
   days on market $115,000 Active 12 DOM
5. 2026-06-16
   days on market $115,000 Active 11 DOM
6. 2026-06-15
   days on market $115,000 Active 10 DOM
7. 2026-06-13
   days on market $115,000 Active 8 DOM
8. 2026-06-12
   days on market $115,000 Active 7 DOM
9. 2026-06-09
   days on market $115,000 Active 4 DOM
10. 2026-06-08
    days on market $115,000 Active 3 DOM
11. 2026-06-08
    remarks 105-char remark
12. 2026-06-08
    listed $115,000 Active 2 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: $261 · $22/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$774/yr (+$64/mo · 296.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $14,282
• − Mortgage interest: −$6,442
• − Property taxes: −$261
• − Insurance: −$575
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$3,345
• Taxable income: $1,373
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $2,880/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: Hobart
• NCES district ID: 4014700
• Math proficiency: 23% ▼ -6.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $36,779
• Composite: 21.2/100
• National rank: #8417
• State rank: #110 of 270 in OK

Livability — Hobart

• Score: 53/100
• State rank: #627
• US rank: #24677

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobart, OK
• City population: 4,070
• Population (ZIP): 4,070

Population outlook (Kiowa County) Hauer SSP2

• Today (2025): 8,842 people
• By 2030: 8,733 · -1.2%
• By 2040: 8,641 · -2.3%
• By 2050: 8,758 · -1.0%
• By 2075: 9,894 · +11.9%
• By 2100: 11,194 · +26.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 15% Two or more races 10% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Iranian 8% Italian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Kiowa

• 2024 margin: Solid R (+58.3) · D 20.1% · R 78.4% · Other 1.6%
• 2008→2024 swing: -23.5pp toward R · 2008: -34.8pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.6 2016: R+52.4 2012: R+35.4 2008: R+34.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.68%
• Current HPI: 158.6311
• 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

1 event — show timeline

• 2026-06-06 Listed $115,000 FSBO.com

Property tax history

+7.5%/yr

Latest (2025): $261 · +5.2% YoY. Source: county tax records.