Real Estate Investing in Forgan, Oklahoma (73938)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73938 (Forgan, OK)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 31.0% of homes vacant — above national norms.
- Declining values: -1.3% 5-year CAGR — values have moved lower.
- 1-year downturn: Values declined 3.9% in the last year.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Forgan, OK (73938)?
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Market Analysis: 73938 Forgan
Investors scanning Forgan, OK for forced-equity plays often land on the 73938 ZIP. A a strong candidate for entry near $86K pairs with rents of $1,017/mo to widen the renovation window.
In 73938, the deal is made on the buy and on the capex. healthy entry prices of $86K leave room in the budget for light-to-medium renovation, with rent lift to match.
Across OK, value-add opportunity tends to concentrate where housing stock is older and entry prices are below the state median. ZIP 73938 sits at both traits clearly.
The 73938 ZIP's demographic trend has been one of stability with upside — population of 710, steady renter share, and an incoming cohort that is willing to pay for improved units.
ZIP 73938 fits investors who can swing a hammer — or pay someone to swing one well. BRRRR, fix-and-flip, and fix-and-hold all work when the rehab scope is matched to the rent lift.
Here's what matters if you're considering buying a home in Forgan:
Market Trends
Home Value History (with trend line)
📊 How Does 73938 Compare?
| Metric | 73938 | Forgan | Oklahoma |
|---|---|---|---|
| Home Value | $85,559 | $85,559 | $214,563 |
| 5-Year CAGR | N/A | N/A | 6.9% |
| Avg Rent | $1,017 | $1,017 | - |
| Cap Rate | 9.3% | 9.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 73938 (Forgan, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $85,559 |
| Monthly Rent | $1,017 |
| Price-to-Rent | 7.0:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 14.3% |
| Cap Rate | 9.3% |
| 5-Year IRR | 8.0% |
📈 Home Appreciation
| 1-Year | -3.9% ▼ |
| 3-Year CAGR | -4.9% ▼ |
| 5-Year CAGR | -1.3% ▼ |
| 10-Year CAGR | +1.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (9.3%) 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 73938
Population: 710
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 73938
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
How strong are rents in Forgan, OK?
The typical rental in Forgan, OK commands about $1,017/mo monthly. That rent profile even-keeled cash flow against the $86K purchase basis.
Can you find 1% rule deals in Forgan, OK?
With $1,017/mo rents against $86K home prices, Forgan, OK produces a 1.19% ratio. That is reasonable proximity to the 1% threshold.
What is the average home sale price in Forgan, OK?
Typical homes in Forgan, OK go for around $86K. The 5-year CAGR of 0.0% even-keeled price movement.
What investment strategy works best in Forgan, OK?
In Forgan, OK the substantial play is typically value-add and BRRRR deals. The combination of $86K prices and $1,017/mo rents suits that approach.
Can you recycle capital via BRRRR in Forgan, OK?
Operators BRRRR-ing in Forgan, OK report a strong results. Focus on sub-market acquisition and tight rehab budgets to capture the spread.
You know 73938 now. You don’t know where it ranks.
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