324 W 4th St · Hobart, OK 73651

$79,500

3 bd · 2.0 ba · 1,372 sqft · SingleFamily public records · 85 Days on market

Built 1983 2,204 sqft lot Est $80k · at est.

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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 +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Charming, well-maintained brick home offering comfortable living and a functional layout at an affordable price! This attached single-family home features a spacious living area and a generously sized kitchen with abundant wood cabinetry, built-in storage, and a seamless flow into the dining space—perfect for everyday living. The primary bedroom includes a private bath, while the guest bathroom offers a convenient tub/shower combo. Additional features include a dedicated laundry area, central heat and air, and thoughtful built-in storage throughout the home. Exterior highlights include a durable brick exterior, attached garage with additional covered parking, a large concrete driv

Key facts

• 2,204 sq ft lot
• 2 garage spots
• Built 1983

Property features AI

Finance

• Other: Living area recorded as 1,372 (assessor); Property occupied: No; Listing status: Active; Directions: From S. Broadway Ave. and Southwest
• Financial info: Not assumable; Loan qualification unknown; Property is homestead exempt
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Home design: Single-family residence; Residential property; One-level home; Facing/located in the Hills addition
• Construction: Brick and frame construction; Composition roof; Built (existing property)
• Exterior features: Interior lot; No special zoning district; No storm shelter

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: One living area; No fireplace; Slab foundation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 8.3% in Hobart — 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 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 $8k of equity ($550 loan paydown + $8k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $58k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $74,730 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.56% ✓
• Cap rate: 13.41%
• Cash-on-cash: 25.43%
• DSCR: 2.13
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $79,576
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 N Washington	0.41mi	3/2.0	1,416 (+3%)	9mo	$139,500	$99	68
829 S Washington St	0.45mi	2/2.0 (-1)	1,375 (+0%)	10mo	$130,000	$95	66
415 N Hitchcock St	0.62mi	3/1.0	1,372 (0%)	6mo	$5,000	$4	62
229 S Hill St	0.12mi	2/1.0 (-1)	1,254 (-9%)	15mo	$45,000	$36	59
409 S Park Rd	0.46mi	3/1.0	1,366 (-0%)	18mo	$79,000	$58	58
118 S Hitchcock St	0.32mi	3/1.0	1,456 (+6%)	20mo	$11,666	$8	54
416 S Hill St	0.03mi	2/1.0 (-1)	1,188 (-13%)	20mo	$16,666	$14	50
200 S Pueblo Ave	0.45mi	3/2.0	1,232 (-10%)	19mo	$100,000	$81	46
326 N Washington St	0.52mi	3/2.0	1,523 (+11%)	18mo	$83,100	$55	43
512 N Randlett St	0.66mi	3/1.0	1,248 (-9%)	11mo	$115,000	$92	42
325 W Dogwood St	0.71mi	2/1.0 (-1)	1,246 (-9%)	9mo	$73,000	$59	35
309 N Stephens St	0.63mi	3/2.0	1,520 (+11%)	24mo	$48,000	$32	33

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: 43.4%
• Equity multiple: 4.29×
• Total profit: $73,340
• Equity at exit: $71,620

10-year hold

• IRR: 37.6%
• Equity multiple: 9.64×
• Total profit: $192,331
• Equity at exit: $154,451

Cash invested: $22,260 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$58 /mo · $696/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $472

Break-even live

Break-even rent $643

Max offer price $79,500

Occupancy floor 57%

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $79,500 Active 85 DOM
2. 2026-06-17
   days on market $79,500 Active 84 DOM
3. 2026-06-16
   days on market $79,500 Active 83 DOM
4. 2026-06-15
   days on market $79,500 Active 82 DOM
5. 2026-06-13
   days on market $79,500 Active 80 DOM
6. 2026-06-12
   days on market $79,500 Active 79 DOM
7. 2026-06-09
   days on market $79,500 Active 76 DOM
8. 2026-06-08
   days on market $79,500 Active 75 DOM
9. 2026-06-08
   days on market $79,500 Active 74 DOM
10. 2026-06-05
    days on market $79,500 Active 72 DOM
11. 2026-06-04
    days on market $79,500 Active 70 DOM
12. 2026-06-03
    price $79,500 Active 69 DOM
13. 2026-06-02
    days on market $86,500 Active 69 DOM
14. 2026-06-01
    days on market $86,500 Active 68 DOM
15. 2026-05-31
    days on market $86,500 Active 67 DOM
16. 2026-03-25
    listed $86,500 Active
17. 2014-12-10
    soldstatus $58,000
18. 2002-07-10
    soldstatus $57,500

ⓘ 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: $696 · $58/mo
• Projected year-2 tax: $716 · $60/mo
• Expected delta: +$20/yr (+$2/mo · 2.8%)

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

Taxation est. · year 1

• Rental income: $14,883
• − Mortgage interest: −$4,453
• − Property taxes: −$696
• − Insurance: −$398
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$2,313
• Taxable income: $4,643
• Est. tax owed @ 24.0%: −$1,114
• After-tax cash flow: $4,547/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

+50.4% since first listed

3 events — show timeline

• 2026-03-25 Listed $86,500 MLSOK
• 2014-12-10 Sold (Public Records) $58,000 Public Records
• 2002-07-10 Sold (Public Records) $57,500 Public Records

Property tax history

+4.1%/yr

Latest (2025): $696 · -1.7% YoY. Source: county tax records.