413 N Washington St · Hobart, OK 73651

$104,500

3 bd · 1.0 ba · 1,873 sqft · SingleFamily public records · 10 Days on market

Built 1952 7,501 sqft lot Est $84k · 24% over

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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 +29.3/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.2/10.0
• 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

This charming 2-bedroom, 2-bath brick home offers comfort, character, and plenty of space to enjoy. Nestled on a quiet street, the property features a private gated courtyard entrance, attached garage, and mature shade trees that enhance its curb appeal. Inside, you’ll find multiple living areas, including a spacious family room with custom built-in shelving and cabinetry, a cozy living room with fireplace, and a functional layout designed for both everyday living and entertaining. The kitchen offers abundant cabinet space, while the utility room provides added convenience. Step outside to a large fenced backyard shaded by mature trees, creating the perfect setting for relaxing, garde

Key facts

• Mature shade trees
• 7,501 sq ft lot
• Garage

Tags

• MULTIPLE LIVING AREAS
• CUSTOM BUILT-IN SHELVING
• LARGE FENCED BACKYARD
• MATURE SHADE TREES

Property features AI

Finance

• Other: Listing is active and vacant; Directions: From W Birch and N Washington St go N to home on the W side of the street.
• Financial info: Not assumable; Loan qualification: Unknown; Annual tax noted (for reference only)
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Home design: Single family residence; Residential property; One level entry; Existing property; Located in the New Acres addition
• Construction: Brick and frame construction; Composition roof; Built status: existing
• Exterior features: Interior lot; No exterior amenities listed

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: One living area; Combination foundation; One fireplace (Other type)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $104k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Cap rate 10.5% vs local median 8.3% in Hobart — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 52 active listings in the ZIP.

Forward outlook

• In year one you build about $11k of equity ($722 loan paydown + $10k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $42k; list at $104k implies a 146% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $104,500

Questions for the listing agent

1. Built in 1952 — 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: 1.22% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.09%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $84,285
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 N Broadway St	0.16mi	3/2.0	1,924 (+3%)	7mo	$58,000	$30	78
505 N Hill St	0.17mi	3/2.0	1,782 (-5%)	8mo	$118,000	$66	73
526 N Hill St	0.16mi	3/2.0	1,814 (-3%)	14mo	$90,000	$50	72
305 N Broadway St	0.14mi	4/1.0 (+1)	1,960 (+5%)	13mo	$50,000	$26	70
127 S Randlett St	0.42mi	4/3.0 (+1)	1,888 (+1%)	1mo	$85,000	$45	65
505 N Hitchcock St	0.38mi	4/2.0 (+1)	1,923 (+3%)	12mo	$165,000	$86	59
525 N Broadway St	0.13mi	3/2.0	1,696 (-10%)	19mo	$9,000	$5	59
201 N Randlett St	0.31mi	4/2.0 (+1)	1,786 (-5%)	20mo	$30,666	$17	52
621 N Lowe St	0.39mi	4/2.0 (+1)	1,665 (-11%)	21mo	$83,000	$50	37

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: 35.4%
• Equity multiple: 3.74×
• Total profit: $80,311
• Equity at exit: $94,142

10-year hold

• IRR: 30.5%
• Equity multiple: 8.45×
• Total profit: $218,017
• Equity at exit: $203,021

Cash invested: $29,260 (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: 52
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,277 medium
• Mortgage (P&I): −$548
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $368

Break-even live

Break-even rent $811

Max offer price $104,500

Occupancy floor 66%

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: $26,125
• Closing costs: $3,135
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $104,500 Active 10 DOM
2. 2026-06-17
   days on market $104,500 Active 9 DOM
3. 2026-06-16
   days on market $104,500 Active 8 DOM
4. 2026-06-15
   days on market $104,500 Active 7 DOM
5. 2026-06-13
   days on market $104,500 Active 5 DOM
6. 2026-06-12
   days on market $104,500 Active 4 DOM
7. 2026-06-09
   remarks 693-char remark
8. 2026-06-09
   listed $104,500 Active 1 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: $593 · $49/mo
• Projected year-2 tax: $940 · $78/mo
• Expected delta: +$347/yr (+$29/mo · 58.6%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $15,324
• − Mortgage interest: −$5,854
• − Property taxes: −$593
• − Insurance: −$522
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$3,040
• Taxable income: $2,863
• Est. tax owed @ 24.0%: −$687
• After-tax cash flow: $3,727/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

+145.9% since first listed

2 events — show timeline

• 2026-06-02 Listed $104,500 MLSOK
• 2009-05-19 Sold (Public Records) $42,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $593 · +3.9% YoY. Source: county tax records.