1329 E Spruce St · Altus, OK 73521

$95,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 360 Days on market

Built 1955 7,993 sqft lot Est $99k · at est.

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +9.3/15.0
• 1% rule +6.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step into comfort and convenience with this beautifully renovated 3-bedroom, 1-bathroom home, perfectly located just minutes from Altus High School and only a 7-minute drive to Altus Air Force Base. This move-in-ready gem features stylish laminate flooring throughout, offering both durability and modern appeal. The updated kitchen comes equipped with a stove and microwave ideal for everyday cooking or entertaining. Enjoy outdoor living in the spacious backyard, perfect for relaxing, gardening, or hosting gatherings. Whether you're a first-time buyer, a military family, or simply looking for a fresh start, this home is a must-see. Don’t miss out on this great opportunity—schedule

Key facts

• Renovated home
• Spacious backyard
• Updated kitchen

Tags

• RENOVATED HOME
• UPDATED KITCHEN
• SPACIOUS BACKYARD
• MINUTES FROM ALTUS HIGH SCHOOL

Property features AI

Finance

• Other: Existing property; No storm shelter; Vacant and available; Located in Crestview 2nd addition
• Financial info: Sold as-is; financing options include cash and conventional
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking; 1-car garage
• Utilities: Electricity available; Natural gas available; Public utilities
• Home design: Single-family residence; One-level home; Residential property
• Construction: Frame construction; Composition roof; Single-pane windows; Slab foundation
• Exterior features: Covered porch; Combination fencing; Lot described as other

Interior

• Kitchen: Gas oven; Microwave; Warming drawer
• Bedrooms: 3 bedrooms
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central gas heating
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.7% in Altus — 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 65/100 on livability (#151 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Altus (town): math 31% / reading 28% proficiency, ranked #69 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Altus Early Childhood Center (390 students, 0% FRL); Altus Hs (math 21% / reading 26%, grade F, #218 of 447 statewide, top 49%, 921 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 168 active listings in the ZIP; 8 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Jackson County population projected to shrink 6% 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 $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $95k implies a 850% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.03%
• DSCR: 1.58
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $99,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1105 E Ash St	0.25mi	3/1.0	1,242 (+8%)	2mo	$145,000	$117	74
1001 N Forrest St	0.36mi	2/1.0 (-1)	1,125 (-2%)	3mo	$44,250	$39	72
1405 N York St	0.28mi	3/1.0	1,092 (-5%)	8mo	$65,000	$60	72
1205 N Chalmers St	0.31mi	3/1.0	1,080 (-6%)	5mo	$93,000	$86	71
1321 E F St	0.17mi	3/1.5	1,200 (+4%)	17mo	$95,000	$79	69
509 Birch St	0.56mi	3/1.0	1,177 (+2%)	14mo	$105,000	$89	59
1312 Polk St	0.57mi	3/2.0	1,128 (-2%)	14mo	$92,600	$82	54
1808 E Tyler St	0.57mi	3/2.0	1,324 (+15%)	3mo	$182,000	$137	42
1011 N Hightower St	0.65mi	3/1.0	1,249 (+8%)	16mo	$76,000	$61	42
1412 Polk St	0.59mi	2/2.0 (-1)	1,040 (-10%)	8mo	$91,000	$88	40
1901 Tyler St	0.57mi	3/2.0	1,290 (+12%)	15mo	$159,000	$123	37
711 N Julian St	0.62mi	2/1.0 (-1)	1,013 (-12%)	12mo	$43,000	$42	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 2.9%
• Equity multiple: 1.11×
• Total profit: $2,962
• Equity at exit: $14,165

10-year hold

• IRR: 12.4%
• Equity multiple: 1.98×
• Total profit: $26,105
• Equity at exit: $8,214

Cash invested: $26,600 (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 73521

• Home prices YoY: -18.4%
• Active inventory: 168
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$27 /mo · $323/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $289

Break-even live

Break-even rent $715

Max offer price $95,000

Occupancy floor 68%

Sensitivity live

Price	-10% $343	-5% $316	+0% $289	+5% $262	+10% $235
Rent	-10% $203	-5% $246	+0% $289	+5% $332	+10% $374
Rate	-1.0pp $337	-0.5pp $313	base $289	+0.5pp $264	+1.0pp $239

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $95,000 Active 360 DOM
2. 2026-06-17
   days on market $95,000 Active 359 DOM
3. 2026-06-16
   days on market $95,000 Active 358 DOM
4. 2026-06-15
   days on market $95,000 Active 357 DOM
5. 2026-06-13
   days on market $95,000 Active 355 DOM
6. 2026-06-12
   days on market $95,000 Active 354 DOM
7. 2026-06-09
   days on market $95,000 Active 351 DOM
8. 2026-06-08
   days on market $95,000 Active 350 DOM
9. 2026-06-08
   days on market $95,000 Active 349 DOM
10. 2026-06-07
    days on market $95,000 Active 348 DOM
11. 2026-06-04
    days on market $95,000 Active 345 DOM
12. 2026-06-02
    days on market $95,000 Active 344 DOM
13. 2026-06-01
    days on market $95,000 Active 343 DOM
14. 2026-05-31
    days on market $95,000 Active 342 DOM
15. 2025-09-09
    price $95,000
16. 2025-08-19
    price $110,000
17. 2025-07-21
    price $120,000
18. 2025-06-23
    listed $125,000 Active
19. 2006-04-25
    soldstatus $10,000
20. 2006-01-31
    soldstatus $9,000

ⓘ 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: $323 · $27/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$532/yr (+$44/mo · 164.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $12,965
• − Mortgage interest: −$5,321
• − Property taxes: −$323
• − Insurance: −$475
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$2,764
• Taxable income: $2,008
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $2,984/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: Altus
• NCES district ID: 4002850
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $40,607
• Composite: 24.91/100
• National rank: #7574
• State rank: #69 of 270 in OK

Livability — Altus

• Score: 65/100
• State rank: #151
• US rank: #13386

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altus, OK
• City population: 20,574
• Population (ZIP): 20,352

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 24,084 people
• By 2030: 23,476 · -2.5%
• By 2040: 22,731 · -5.6%
• By 2050: 22,586 · -6.2%
• By 2075: 25,413 · +5.5%
• By 2100: 31,069 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 26% Two or more races 12% Black 7% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 6% · Canada
• Languages at home: 83% English-only · Spanish 15% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Jackson

• 2024 margin: Solid R (+58.3) · D 19.9% · R 78.2% · Other 1.9%
• 2008→2024 swing: -8.7pp toward R · 2008: -49.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+57.7 2016: R+57.6 2012: R+50.7 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.26%
• Current HPI: 178.7106
• 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

+955.6% since first listed

6 events — show timeline

• 2025-09-09 Price Changed $95,000 MLSOK
• 2025-08-19 Price Changed $110,000 MLSOK
• 2025-07-21 Price Changed $120,000 MLSOK
• 2025-06-23 Listed $125,000 MLSOK
• 2006-04-25 Sold (Public Records) $10,000 Public Records
• 2006-01-31 Sold (Public Records) $9,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $323 · +4.5% YoY. Source: county tax records.