208 Oak St · Elgin, OK 73538

$159,000

2 bd · 1.0 ba · 1,038 sqft · SingleFamily public records · 179 Days on market

Built 1964 Est $151k · 6% over

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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 +20.3/30.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• ARV discount +5.0/15.0
• 1% rule +4.4/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

The subject is a 62-year-old home in acceptable/ updated condition. This property was completely reconditioned in 2023. It is located in a high-demand neighborhood with limited inventory and minimal expected market time. The home features tile, carpet, and wood laminate flooring throughout and has been recently updated, including paint, flooring, roof, windows, doors, water heater, appliances, and electrical/plumbing upgrades. The bathrooms have also been completely remodeled with updated tils and finishes. The exterior is finished with a combination of stucco, metal, and vinyl siding. The kitchen and bathrooms feature wood cabinetry, granite countertops, and tile backsplashes. Additional f

Key facts

• Recently updated
• Tile backsplashes
• Built 1964

Tags

• RECENTLY UPDATED
• COMPLETELY REMODELED BATHROOMS
• TILE BACKSPLASHES
• COVERED FRONT AND REAR PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (5.6% below list).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.1% in Elgin — 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 73/100 on livability (#17 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: schools C-, amenities F, commute F.
• Elgin (rural): math 29% / reading 36% proficiency, ranked #38 of 270 in OK (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 95 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Comanche County population projected to shrink 3% 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $159k implies a 145% gain — meaningful room to come down on a strong offer.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 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 1964 — 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. 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: 0.94% ✗
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $150,510
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1105 4th Pl	0.08mi	3/1.5 (+1)	1,100 (+6%)	0mo	$159,000	$145	79
204 5th St	0.68mi	3/2.0 (+1)	1,100 (+6%)	13mo	$80,000	$73	38

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: 28.3%
• Equity multiple: 3.24×
• Total profit: $99,611
• Equity at exit: $143,240

10-year hold

• IRR: 24.6%
• Equity multiple: 7.36×
• Total profit: $282,965
• Equity at exit: $308,902

Cash invested: $44,520 (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 73538

• Home prices YoY: 22.9%
• Active inventory: 95
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,501 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $205

Break-even live

Break-even rent $1,242

Max offer price $159,000

Occupancy floor 81%

Sensitivity live

Price	-10% $295	-5% $250	+0% $205	+5% $160	+10% $115
Rent	-10% $87	-5% $146	+0% $205	+5% $264	+10% $324
Rate	-1.0pp $285	-0.5pp $246	base $205	+0.5pp $164	+1.0pp $122

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1201 Kensington Ln Elgin, OK	2.0–3.0	2.0–2.5	1414	$1,400	$0.99	24d	1	1.45mi

Listing history 18 events

1. 2026-06-19
   days on market $159,000 Active 179 DOM
2. 2026-06-18
   days on market $159,000 Active 178 DOM
3. 2026-06-17
   days on market $159,000 Active 177 DOM
4. 2026-06-16
   days on market $159,000 Active 176 DOM
5. 2026-06-15
   days on market $159,000 Active 175 DOM
6. 2026-06-14
   days on market $159,000 Active 173 DOM
7. 2026-06-13
   days on market $159,000 Active 172 DOM
8. 2026-06-10
   days on market $159,000 Active 170 DOM
9. 2026-06-09
   days on market $159,000 Active 169 DOM
10. 2026-06-08
    days on market $159,000 Active 168 DOM
11. 2026-06-07
    days on market $159,000 Active 167 DOM
12. 2026-06-05
    days on market $159,000 Active 164 DOM
13. 2026-06-02
    days on market $159,000 Active 162 DOM
14. 2026-06-01
    days on market $159,000 Active 161 DOM
15. 2026-05-31
    days on market $159,000 Active 160 DOM
16. 2026-05-30
    days on market $159,000 Active 159 DOM
17. 2025-12-18
    listed $159,000 Active
18. 2017-04-24
    soldstatus $65,000

ⓘ 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: $971 · $81/mo
• Projected year-2 tax: $1,431 · $119/mo
• Expected delta: +$460/yr (+$38/mo · 47.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,017
• − Mortgage interest: −$8,906
• − Property taxes: −$971
• − Insurance: −$795
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$4,625
• Taxable loss: −$164
• Est. tax savings @ 24.0%: +$39
• After-tax cash flow: $2,501/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: Elgin
• NCES district ID: 4010710
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 36% ▼ -5.00%
• Median HH income: $65,900
• Composite: 29.77/100
• National rank: #6432
• State rank: #38 of 270 in OK

Livability — Elgin

• Score: 73/100
• State rank: #17
• US rank: #5411

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elgin, OK
• County: Comanche County · 96,361 people
• City population: 7,128
• Metro: Lawton, OK
• Population (ZIP): 7,128
• Household income: $91,324
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 70.0

Population outlook (Comanche County) Hauer SSP2

• Today (2025): 124,518 people
• By 2030: 124,231 · -0.2%
• By 2040: 122,193 · -1.9%
• By 2050: 120,368 · -3.3%
• By 2075: 120,492 · -3.2%
• By 2100: 123,113 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 15% Hispanic / Latino 13% Native American 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Slovak 5% Romanian 2% Serbian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Comanche

• 2024 margin: Strong R (+23.3) · D 37.4% · R 60.7% · Other 1.9%
• 2008→2024 swing: -5.8pp toward R · 2008: -17.5pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+20.1 2016: R+23.7 2012: R+17.0 2008: R+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 45.70%
• Current HPI: 245.4249
• Rent YoY: —
• Metro: Lawton, OK
• 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

+144.6% since first listed

2 events — show timeline

• 2025-12-18 Listed $159,000 Fizber.com
• 2017-04-24 Sold (Public Records) $65,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $971 · +1.1% YoY. Source: county tax records.