617 E Gregory Ave · Apache, OK 73006

$98,900

3 bd · 2.0 ba · 1,848 sqft · Manufactured public records · 18 Days on market

Built 2001 7,500 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 +29.5/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Appreciation +6.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Seller is selling as is but willing to do lender required repairs only.

Key facts

• 7,500 sq ft lot
• Garage
• Built 2001

Property features AI

Finance

• Other: Property listed as residential; Lot about 7,500 square feet

Exterior

• Parking: 3 total parking spaces; 1-car garage; 2-car carport; RV access/parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Manufactured home; One level; Updated/remodeled
• Construction: Frame construction; Composition roof
• Exterior features: Deck; Patio; Storm doors; Chain link fencing; Workshop

Interior

• Kitchen: Cooktop; Dishwasher; Electric water heater
• Flooring: Vinyl; Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fans
• Interior features: Kitchen island; Pantry; Double pane windows
• Laundry & utility: Washer hookup; Crawl space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $97k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#55 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Boone-Apache (rural): math 18% / reading 20% proficiency, ranked #184 of 270 in OK (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Apache Es (math 27% / reading 12%, grade F, #479 of 845 statewide, top 63%, 235 students, 0% FRL); Apache Ms (math 8% / reading 22%, grade F, #226 of 345 statewide, top 67%, 124 students, 0% FRL); Apache Hs (math 24% / reading 34%, grade F, #96 of 447 statewide, top 26%, 158 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 18 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($684 loan paydown + $3k appreciation (2.8% local appreciation)).
• Caddo County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $12k; list at $99k implies a 691% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $97,416 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 10.57%
• Cash-on-cash: 15.28%
• DSCR: 1.68
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.83% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.4%
• Equity multiple: 2.21×
• Total profit: $33,464
• Equity at exit: $43,537

10-year hold

• IRR: 22.6%
• Equity multiple: 4.20×
• Total profit: $88,716
• Equity at exit: $66,380

Cash invested: $27,692 (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 73006

• Home prices YoY: 1.4%
• Active inventory: 18
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $353

Break-even live

Break-even rent $757

Max offer price $98,900

Occupancy floor 66%

Sensitivity live

Price	-10% $409	-5% $381	+0% $353	+5% $325	+10% $297
Rent	-10% $258	-5% $305	+0% $353	+5% $400	+10% $448
Rate	-1.0pp $402	-0.5pp $378	base $353	+0.5pp $327	+1.0pp $301

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $98,900 Active 18 DOM
2. 2026-06-18
   days on market $98,900 Active 17 DOM
3. 2026-06-17
   days on market $98,900 Active 16 DOM
4. 2026-06-16
   days on market $98,900 Active 15 DOM
5. 2026-06-15
   days on market $98,900 Active 14 DOM
6. 2026-06-14
   days on market $98,900 Active 12 DOM
7. 2026-06-13
   days on market $98,900 Active 11 DOM
8. 2026-06-10
   days on market $98,900 Active 9 DOM
9. 2026-06-09
   days on market $98,900 Active 8 DOM
10. 2026-06-08
    days on market $98,900 Active 7 DOM
11. 2026-06-07
    days on market $98,900 Active 6 DOM
12. 2026-06-05
    days on market $98,900 Active 3 DOM
13. 2026-06-03
    days on market $98,900 Active 2 DOM
14. 2026-06-01
    remarks 71-char remark
15. 2026-06-01
    listed $98,900 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: $460 · $38/mo
• Projected year-2 tax: $890 · $74/mo
• Expected delta: +$430/yr (+$36/mo · 93.5%)

ⓘ 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 ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $14,443
• − Mortgage interest: −$5,540
• − Property taxes: −$460
• − Insurance: −$494
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$2,877
• Taxable income: $2,761
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $3,569/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: Boone-Apache
• NCES district ID: 4005010
• Math proficiency: 18% ▼ -13.00%
• Reading proficiency: 20% ▼ -11.00%
• Median HH income: $41,199
• Composite: 16.24/100
• National rank: #9223
• State rank: #184 of 270 in OK

Livability — Apache

• Score: 69/100
• State rank: #55
• US rank: #9014

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Apache, OK
• Population (ZIP): 2,463

Population outlook (Caddo County) Hauer SSP2

• Today (2025): 28,391 people
• By 2030: 27,844 · -1.9%
• By 2040: 27,057 · -4.7%
• By 2050: 26,484 · -6.7%
• By 2075: 26,266 · -7.5%
• By 2100: 26,077 · -8.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 63% Native American 31% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 1%

Political lean MEDSL · Caddo

• 2024 margin: Solid R (+47.1) · D 25.4% · R 72.5% · Other 2.1%
• 2008→2024 swing: -16.4pp toward R · 2008: -30.7pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+44.0 2016: R+43.4 2012: R+28.5 2008: R+30.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.83%
• Current HPI: 207.739
• 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

+691.2% since first listed

2 events — show timeline

• 2026-05-29 Listed $98,900 LBRMLS
• 1990-03-01 Sold (Public Records) $12,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $460 · +2.2% YoY. Source: county tax records.