622 N Lake Ave · Davenport, OK 74026

$59,000

3 bd · 1.0 ba · 1,280 sqft · SingleFamily · 20 Days on market

Built 1951 Poor condition 0.45 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 +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +1.0/5.0

Listing remarks

HANDYMAN SPECIAL! 3 Bedroom, 1 Bathroom Brick home located on a Corner Lot. Property has a Shop building & also an apartment that is need of repairs. Home needs electrical work and repairs. Basement, Large yard.

Key facts

• Basement
• Large yard
• Corner lot

Tags

• CORNER LOT
• BASEMENT
• LARGE YARD

Property features AI

Finance

• Other: Property is vacant; Located in Belless Addition; Homestead not indicated
• Financial info: Not assumable; Loan qualification possible; Listed as REO / bank-owned
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Living area listed as 1,280 (assessor)
• Home design: Single-family residence; One story; Residential property; Existing property
• Construction: Brick and frame construction; Composition roof; Conventional foundation; Built (existing)
• Exterior features: Covered porch; Outbuildings; Workshop; Below-ground storm shelter; Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#294 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Davenport (rural): math 25% / reading 25% proficiency, ranked #335 of 513 in OK (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Davenport Es (math 22% / reading 32%, grade F, #311 of 845 statewide, top 40%, 276 students, 0% FRL); Davenport Hs (math 15% / reading 10%, grade F, #354 of 447 statewide, top 79%, 99 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 4 active listings in the ZIP; 19 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($408 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $58,115 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1951 — 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: 1.98% ✓
• Cap rate: 16.81%
• Cash-on-cash: 37.57%
• DSCR: 2.67
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $143,360
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 East Ave	0.07mi	3/1.0	1,275 (-0%)	13mo	$145,000	$114	86
1003 N East Ave	0.21mi	3/1.5	1,256 (-2%)	3mo	$141,000	$112	83
406 E 4th St	0.18mi	3/1.5	1,356 (+6%)	18mo	$140,000	$103	64
206 E Frisco St	0.52mi	3/2.0	1,280 (0%)	10mo	$81,500	$64	63
103 W 1st	0.55mi	3/2.0	1,296 (+1%)	9mo	$145,000	$112	60

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: 53.2%
• Equity multiple: 4.94×
• Total profit: $65,093
• Equity at exit: $53,152

10-year hold

• IRR: 46.8%
• Equity multiple: 11.04×
• Total profit: $165,818
• Equity at exit: $114,624

Cash invested: $16,520 (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 74026

• Home prices YoY: 5.1%
• Active inventory: 4
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,171 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $517

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 51%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-17
   status $59,000 Pending 20 DOM
2. 2026-06-16
   days on market $59,000 Active 20 DOM
3. 2026-06-15
   days on market $59,000 Active 19 DOM
4. 2026-06-13
   days on market $59,000 Active 17 DOM
5. 2026-06-12
   days on market $59,000 Active 16 DOM
6. 2026-06-09
   days on market $59,000 Active 13 DOM
7. 2026-06-08
   days on market $59,000 Active 12 DOM
8. 2026-06-08
   days on market $59,000 Active 11 DOM
9. 2026-06-07
   days on market $59,000 Active 10 DOM
10. 2026-06-04
    days on market $59,000 Active 7 DOM
11. 2026-06-02
    days on market $59,000 Active 6 DOM
12. 2026-06-01
    days on market $59,000 Active 5 DOM
13. 2026-05-31
    days on market $59,000 Active 4 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% 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: $14,050
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$1,716
• Taxable income: $5,601
• Est. tax owed @ 24.0%: −$1,344
• After-tax cash flow: $4,863/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and structural work to be considered habitable. Immediate safety concerns and structural integrity issues need to be addressed.

Repairs flagged

• Major Exposed wiring — Safety hazard
• Major Structural damage — Structural integrity compromised

Value-add opportunities

• Both Electrical work — Safety and functionality
• Both Structural repairs — Safety and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed wiring · Safety hazard	Major	$15,000–50,000
Structural damage · Structural integrity compromised	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Electrical work — Safety and functionality ↑
• Both Structural repairs — Safety and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Davenport
• NCES district ID: 4009450
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 25% ▬ 0.00%
• Median HH income: $43,781
• Composite: 24.5/100
• National rank: #13079
• State rank: #335 of 513 in OK

Livability — Davenport

• Score: 61/100
• State rank: #294
• US rank: #17664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Davenport, OK
• Population (ZIP): 888

Population outlook (Lincoln County) Hauer SSP2

• Today (2025): 36,104 people
• By 2030: 36,435 · +0.9%
• By 2040: 36,696 · +1.6%
• By 2050: 36,216 · +0.3%
• By 2075: 35,057 · -2.9%
• By 2100: 31,333 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 12% Native American 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Serbian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lincoln

• 2024 margin: Solid R (+63.3) · D 17.5% · R 80.8% · Other 1.7%
• 2008→2024 swing: -13.4pp toward R · 2008: -49.8pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+63.2 2016: R+60.1 2012: R+49.0 2008: R+49.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.91%
• Current HPI: 350.4694
• 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

• 2026-05-26 Listed $59,000 MLSOK