Real Estate Investing in Hobart, Oklahoma (73651)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73651 (Hobart, OK)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A balanced market — moderate cash flow and moderate appreciation. A "steady" investor profile fits best.
- High vacancy: 28.7% of homes vacant — above national norms.
- Elevated poverty: 28.7% poverty rate — can affect rent collection.
- Lower household income: $32,926 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hobart, OK (73651)?
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Market Analysis: 73651 Hobart
In Hobart's 73651 ZIP, the arithmetic favors hands-on owners. Median home values reports $70K, leaving spread for capex-heavy BRRRR or reposition strategies.
Value-add is the defining thesis in 73651. Homes trade near $70K, well below the state median, and rehabbed comps tend to clear meaningfully higher — a classic forced-equity setup.
Across Hobart, pockets like 73651 represent the last affordable rungs of a rising ladder. The state-level data shows those rungs thinning.
A renter-heavy, wage-earner demographic anchors 73651. Value-add players rely on that mix — the 29% share is both the tenant source and the buyer pool for future owner-occupied exits.
Experienced operators with contractor networks find 73651 an appealing option for. First-time flippers often underestimate scope, budget, and timeline, which is how deals here turn sour.
Here's what matters if you're considering buying a home in Hobart:
Property Strategy for 73651
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $30,960 | $1,100 | 25.6% | +2.4% | $15,480 |
| 3BR | $78,996 | $1,530 | 13.9% | +4.8% | $26,332 |
| 4BR | $159,021 | $1,850 | 8.4% | +5.5% | $39,755 |
Market Trends
Home Value History (with trend line)
📊 How Does 73651 Compare?
| Metric | 73651 | Hobart | Oklahoma |
|---|---|---|---|
| Home Value | $69,966 | $69,966 | $214,563 |
| 5-Year CAGR | 7.2% | 7.2% | 6.9% |
| Avg Rent | $990 | $990 | - |
| Cap Rate | 11.0% | 11.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 73651 (Hobart, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $69,966 |
| Monthly Rent | $990 |
| Price-to-Rent | 5.9:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 17.0% |
| Cap Rate | 11.0% |
| 5-Year IRR | 18.3% |
📈 Home Appreciation
| 1-Year | +20.0% ▲ |
| 3-Year CAGR | +9.0% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +6.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (11.0%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 73651
Population: 4,070
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 73651
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are 1% rule properties available in Hobart, OK?
The 1% rule in Hobart, OK is reasonable to achieve. Rent-to-price at the median ($990/mo on $70K) lands around 1.41%.
Is Hobart in OK worth investing in?
Hobart, OK rates 5.0/5 for investability. With median values at $70K and rents near $990/mo, the market offers reasonable fundamentals for rental investors.
Is Hobart, OK suited for a house hack?
House hacking in Hobart, OK is reasonable to execute. Prices around $70K and rents of $990/mo solid owner-occupant economics.
What real estate strategy is ideal for Hobart, OK?
The best-fit strategy in Hobart, OK is value-add and BRRRR deals. That approach the rent and price profile of the market.
Is BRRRR a fit for Hobart, OK?
BRRRR works a strong in Hobart, OK. With $70K ARVs and $990/mo rents, investors who buy right can refinance out most of their capital.
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