201 N Randlett St · Hobart, OK 73651

$40,000

4 bd · 2.0 ba · 1,786 sqft · SingleFamily public records · 15 Days on market

Built 1918 7,000 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

Calling all investors! This home is located right in the heart of Hobart. Property is unoccupied and needs extensive repairs. This is a package deal consisting of 9 properties. MLS #s : 1118783, 1118781, 1118778, 1118775, 1118774, 1118773, 1118771, 1118765, 1118755. Total price for all 9 properties $220K

Key facts

• Hard wood floors
• Spacious dining room
• Large basement

Tags

• HARD WOOD FLOORS
• LARGE BASEMENT
• SPACIOUS DINING ROOM
• BAY WINDOWS
• CORNER LOT

Property features AI

Finance

• Other: Homestead not indicated; Property listed as active and not occupied; Directions: From W Iris Ave, turn north on Randlett; home is on the corner
• Financial info: Assumable: No; Loan qualification: Unknown; Current asking price: $40,000
• HOA & community: No mandatory association dues

Exterior

• Parking: Gravel parking
• Home design: Single family residence; Residential property; Two levels; Existing property
• Construction: Frame construction; Composition roof; Conventional foundation; Built existing (year not specified)
• Exterior features: Covered porch; Open deck; Storage; Corner lot; Below-ground storm shelter; Chain link fence

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Basement; Inside utility; Living area with 1,786 (assessor source); One fireplace
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 29.7% vs local median 8.7% in Hobart — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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+, amenities F, commute 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.
• Zoned schools: Hobart Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 366 students, 0% FRL); Hobart Hs (math 5% / reading 24%, grade F, #332 of 447 statewide, top 78%, 197 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 54 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.
• Current owner paid $31k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1918 — 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: 3.45% ✓
• Cap rate: 29.72%
• Cash-on-cash: 83.66%
• DSCR: 4.72
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $80,370
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 N Randlett St	0.00mi	4/2.0	1,786 (0%)	20mo	$30,666	$17	83
127 S Randlett St	0.14mi	4/3.0	1,888 (+6%)	1mo	$85,000	$45	79
505 N Hill St	0.28mi	3/2.0 (-1)	1,782 (-0%)	8mo	$118,000	$66	75
526 N Hill St	0.33mi	3/2.0 (-1)	1,814 (+2%)	14mo	$90,000	$50	66
505 N Hitchcock St	0.31mi	4/2.0	1,923 (+8%)	12mo	$165,000	$86	63
305 N Broadway St	0.17mi	4/1.0	1,960 (+10%)	13mo	$50,000	$26	61
601 N Broadway St	0.38mi	3/2.0 (-1)	1,924 (+8%)	8mo	$58,000	$30	58
525 N Broadway St	0.34mi	3/2.0 (-1)	1,696 (-5%)	19mo	$9,000	$5	55
621 N Lowe St	0.47mi	4/2.0	1,665 (-7%)	21mo	$83,000	$50	50
326 N Washington St	0.30mi	3/2.0 (-1)	1,523 (-15%)	18mo	$83,100	$55	42
309 N Stephens St	0.32mi	3/2.0 (-1)	1,520 (-15%)	24mo	$48,000	$32	36

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: 93.3%
• Equity multiple: 7.39×
• Total profit: $71,560
• Equity at exit: $36,035

10-year hold

• IRR: 88.2%
• Equity multiple: 16.33×
• Total profit: $171,702
• Equity at exit: $77,711

Cash invested: $11,200 (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: 2.4×

Monthly cashflow live

• Estimated rent: $1,379 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$82 /mo · $985/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $781

Break-even live

Break-even rent $391

Max offer price $40,000

Occupancy floor 38%

Sensitivity live

Price	-10% $804	-5% $792	+0% $781	+5% $770	+10% $758
Rent	-10% $672	-5% $726	+0% $781	+5% $835	+10% $890
Rate	-1.0pp $801	-0.5pp $791	base $781	+0.5pp $771	+1.0pp $760

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $40,000 Active 15 DOM
2. 2026-06-18
   days on market $40,000 Active 13 DOM
3. 2026-06-17
   days on market $40,000 Active 12 DOM
4. 2026-06-16
   days on market $40,000 Active 11 DOM
5. 2026-06-15
   days on market $40,000 Active 10 DOM
6. 2026-06-13
   days on market $40,000 Active 8 DOM
7. 2026-06-12
   remarks 560-char remark
8. 2026-06-12
   days on market $40,000 Active 7 DOM
9. 2026-06-09
   days on market $40,000 Active 4 DOM
10. 2026-06-08
    days on market $40,000 Active 3 DOM
11. 2026-06-08
    remarks 427-char remark
12. 2026-06-08
    listed $40,000 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: $985 · $82/mo
• Projected year-2 tax: $985 · $82/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major

Taxation est. · year 1

• Rental income: $16,548
• − Mortgage interest: −$2,241
• − Property taxes: −$985
• − Insurance: −$200
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$1,164
• Taxable income: $9,311
• Est. tax owed @ 24.0%: −$2,235
• After-tax cash flow: $7,136/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

+17.6% since first listed

5 events — show timeline

• 2026-06-05 Listed $40,000 MLSOK
• 2024-10-11 Sold (Public Records) $190,000 Public Records
• 2024-10-11 Sold (MLS) $30,666 MLSOK
• 2024-08-18 Pending — MLSOK
• 2024-06-11 Listed $34,000 MLSOK

Property tax history

+5.1%/yr

Latest (2025): $985 · +5.6% YoY. Source: county tax records.