308 5th St · Spiro, OK 74959

$55,000

3 bd · 2.0 ba · 1,184 sqft · Manufactured public records · 49 Days on market

Built 1989 3,049 sqft lot

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Two Bedroom, Two Bath Mobile Home on . 7 acres with a fenced backyard. This property is being sold in AS-IS, condition. Interested buyers are encouraged to make any and all professional inspections prior to purchasing the property. Any and all inspections reports will be for the buyers informational purpose only and will not be considered as a contingency towards the purchase of the property.

Key facts

• 3,049 sq ft lot
• Built 1989
• Listed 48 days

Property features AI

Exterior

• Parking: Detached carport; Gravel parking; 1 covered space
• Utilities: Electricity available; Natural gas available
• Home design: Residential mobile home; One story
• Construction: Metal siding; Other construction materials (see remarks)
• Exterior features: Deck; Porch; Metal roof; Chain-link fence in back yard; Other exterior features (see remarks); Cleared city lot; Paved public-maintained road

Interior

• Kitchen: Oven; Range
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Ceiling fan(s)
• Laundry & utility: Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($866 rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#275 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Spiro (rural): math 18% / reading 21% proficiency, ranked #178 of 270 in OK (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Spiro Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 571 students, 0% FRL); Spiro Hs (math 17% / reading 34%, grade F, #141 of 447 statewide, top 31%, 290 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 65 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 73 units permitted in Le Flore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Le Flore County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% 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: 1.58% ✓
• Cap rate: 14.03%
• Cash-on-cash: 27.63%
• DSCR: 2.23
• GRM: 5.3

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: 33.6%
• Equity multiple: 2.90×
• Total profit: $29,192
• Equity at exit: $24,730

10-year hold

• IRR: 33.8%
• Equity multiple: 5.69×
• Total profit: $72,254
• Equity at exit: $38,112

Cash invested: $15,400 (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 74959

• Active inventory: 65
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $866 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$18 /mo · $221/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $355

Break-even live

Break-even rent $417

Max offer price $55,000

Occupancy floor 54%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 NE 3rd St Spiro, OK	2.0	1.0	1469	$1,100	$0.75	13d	1	0.18mi
214 Wortham Dr Spiro, OK	2.0	1.0	700	$675	$0.96	13d	1	0.24mi
200 Wortham Dr Spiro, OK	3.0	1.0	1000	$750	$0.75	13d	1	0.26mi
201 S Ash St Spiro, OK	2.0	1.0	700	$750	$1.07	13d	1	0.39mi

Listing history 17 events

1. 2026-06-19
   days on market $55,000 Active 49 DOM
2. 2026-06-18
   days on market $55,000 Active 48 DOM
3. 2026-06-17
   days on market $55,000 Active 47 DOM
4. 2026-06-16
   days on market $55,000 Active 46 DOM
5. 2026-06-15
   days on market $55,000 Active 45 DOM
6. 2026-06-14
   days on market $55,000 Active 43 DOM
7. 2026-06-13
   days on market $55,000 Active 42 DOM
8. 2026-06-10
   days on market $55,000 Active 40 DOM
9. 2026-06-09
   days on market $55,000 Active 39 DOM
10. 2026-06-08
    days on market $55,000 Active 38 DOM
11. 2026-06-07
    days on market $55,000 Active 37 DOM
12. 2026-06-05
    pricedays on market $55,000 Active 34 DOM
13. 2026-06-02
    days on market $62,500 Active 32 DOM
14. 2026-06-01
    days on market $62,500 Active 31 DOM
15. 2026-05-31
    days on market $62,500 Active 30 DOM
16. 2026-05-30
    days on market $62,500 Active 29 DOM
17. 2026-04-30
    listed $62,500 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: $221 · $18/mo
• Projected year-2 tax: $495 · $41/mo
• Expected delta: +$274/yr (+$23/mo · 124.0%)

ⓘ 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 ≥112°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $10,395
• − Mortgage interest: −$3,081
• − Property taxes: −$221
• − Insurance: −$275
• − Repairs & maintenance: −$832
• − Management: −$832
• − Depreciation: −$1,600
• Taxable income: $3,555
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $3,402/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: Spiro
• NCES district ID: 4028200
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $38,031
• Composite: 16.35/100
• National rank: #9204
• State rank: #178 of 270 in OK

Livability — Spiro

• Score: 61/100
• State rank: #275
• US rank: #17347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spiro, OK
• Population (ZIP): 6,156

Population outlook (Le Flore County) Hauer SSP2

• Today (2025): 48,504 people
• By 2030: 47,474 · -2.1%
• By 2040: 44,914 · -7.4%
• By 2050: 42,239 · -12.9%
• By 2075: 35,071 · -27.7%
• By 2100: 25,949 · -46.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Native American 12% Two or more races 9% Black 4% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Vietnamese 1%

Political lean MEDSL · Le Flore

• 2024 margin: Solid R (+64.8) · D 17.0% · R 81.8% · Other 1.3%
• 2008→2024 swing: -26.1pp toward R · 2008: -38.6pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+63.4 2016: R+58.7 2012: R+41.1 2008: R+38.6

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

1 event — show timeline

• 2026-04-30 Listed $62,500 WRVBOR

Property tax history

+5.9%/yr

Latest (2025): $221 · -9.1% YoY. Source: county tax records.