329 S Main St · Fairfax, OK 74637

$42,500

3 bd · 1.0 ba · 2,520 sqft · SingleFamily public records · 60 Days on market

Built 1924 3.00 ac lot

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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 +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 +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Opportunity is knocking! This 3-Bedroom, 2 Bath home offers incredible potential for investors and buyers ready to make a space their own. Inside you'll find a great layout featuring a spacious living room and large bedrooms with original hardwood flooring. It also has a detached mother-in-law/ apartment, large basement, fireplace, and located on three large lots. Ready for renovations, this property is being sold as-is. Call now to schedule a viewing!

Key facts

• Large basement
• Three large lots
• 3 acre lot

Tags

• LARGE BASEMENT
• ORIGINAL HARDWOOD FLOORING
• THREE LARGE LOTS

Property features AI

Finance

• HOA & community: Gutter(s) noted as a community feature

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story; Faces east; Basement (partial)
• Construction: Built by builder; Aluminum siding; Wood frame construction; Metal roof; Basement foundation
• Exterior features: Covered porch; Rain gutters

Interior

• Kitchen: Oven; Range; Stove; Refrigerator
• Flooring: Hardwood; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fan(s); Laminate countertops; Aluminum and wood window frames; Electric oven connection
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $708 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#366 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Woodland (rural): math 15% / reading 23% proficiency, ranked #192 of 270 in OK (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP; 89 units permitted in Osage County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($294 loan paydown + $4k appreciation (10.0% local appreciation)).
• Osage County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $42k implies a 102% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.97% ✓
• Cap rate: 26.27%
• Cash-on-cash: 71.35%
• DSCR: 4.17
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 82.2%
• Equity multiple: 6.73×
• Total profit: $68,227
• Equity at exit: $38,287

10-year hold

• IRR: 76.5%
• Equity multiple: 14.91×
• Total profit: $165,514
• Equity at exit: $82,568

Cash invested: $11,900 (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 74637

• Home prices YoY: 11.6%
• Active inventory: 7
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,263 medium
• Mortgage (P&I): −$223
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $708

Break-even live

Break-even rent $368

Max offer price $42,500

Occupancy floor 39%

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: $10,625
• Closing costs: $1,275
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $42,500 Active 60 DOM
2. 2026-06-17
   days on market $42,500 Active 59 DOM
3. 2026-06-16
   days on market $42,500 Active 58 DOM
4. 2026-06-15
   days on market $42,500 Active 57 DOM
5. 2026-06-13
   pricedays on market $42,500 Active 55 DOM
6. 2026-06-12
   days on market $44,500 Active 54 DOM
7. 2026-06-09
   days on market $44,500 Active 51 DOM
8. 2026-06-08
   days on market $44,500 Active 50 DOM
9. 2026-06-08
   days on market $44,500 Active 49 DOM
10. 2026-06-05
    days on market $44,500 Active 47 DOM
11. 2026-06-04
    days on market $44,500 Active 45 DOM
12. 2026-06-02
    days on market $44,500 Active 44 DOM
13. 2026-06-01
    days on market $44,500 Active 43 DOM
14. 2026-05-31
    days on market $44,500 Active 42 DOM
15. 2026-05-21
    price $44,500
16. 2026-05-08
    price $49,500
17. 2026-04-18
    listed $52,500 Active
18. 1998-09-29
    soldstatus $21,000

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $598 · $50/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $15,159
• − Mortgage interest: −$2,381
• − Property taxes: −$598
• − Insurance: −$212
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − Depreciation: −$1,236
• Taxable income: $8,306
• Est. tax owed @ 24.0%: −$1,993
• After-tax cash flow: $6,497/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: Woodland
• NCES district ID: 4030048
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 23% ▼ -1.00%
• Median HH income: $34,036
• Composite: 15.53/100
• National rank: #9300
• State rank: #192 of 270 in OK

Livability — Fairfax

• Score: 60/100
• State rank: #366
• US rank: #19529

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfax, OK
• Population (ZIP): 1,501

Population outlook (Osage County) Hauer SSP2

• Today (2025): 48,950 people
• By 2030: 48,936 · +-0.0%
• By 2040: 47,826 · -2.3%
• By 2050: 45,781 · -6.5%
• By 2075: 41,140 · -16.0%
• By 2100: 32,796 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 64% Native American 19% Two or more races 12% Black 3% Hispanic / Latino 3%
• Common ancestry: Italian 4% Slovak 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 1%

Political lean MEDSL · Osage

• 2024 margin: Solid R (+41.4) · D 28.4% · R 69.8% · Other 1.7%
• 2008→2024 swing: -17.7pp toward R · 2008: -23.7pp · 2024: -41.4pp
• All cycles: 2024: R+41.4 2020: R+39.5 2016: R+36.8 2012: R+25.2 2008: R+23.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.61%
• Current HPI: 285.9263
• 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

+111.9% since first listed

4 events — show timeline

• 2026-05-21 Price Changed $44,500 MLS Technology, Inc.
• 2026-05-08 Price Changed $49,500 MLS Technology, Inc.
• 2026-04-18 Listed $52,500 MLS Technology, Inc.
• 1998-09-29 Sold (Public Records) $21,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $598 · +21.1% YoY. Source: county tax records.