430 S 15th St

Clinton, OK 73601

$80,000C+

2 bd · 1.0 ba · 768 sqft · Built 1950 · SingleFamily · Active · 79 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $838/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $175/mo
• Annual: $2,106/yr
• Cap rate: 8.93%
• Cash-on-cash: 9.40%
• DSCR: 1.42
• 1% rule: 1.05%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($838 rent vs $80k).
• It's been on market 79 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.4%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#196 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime D+, amenities F, commute F.
• Clinton (town): math 21% / reading 23% proficiency, ranked #149 of 270 in OK (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southwest Es (math 20% / reading 14%, grade F, #540 of 845 statewide, top 68%, 468 students, 0% FRL); Clinton Hs (math 8% / reading 22%, grade F, #332 of 447 statewide, top 78%, 629 students, 0% FRL) — zoned schools average 0% FRL vs 67% district-wide (67 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 77 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $16k; list at $80k implies a 385% gain — meaningful room to come down on a strong offer.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.9% vs local median 6.1% in Clinton — 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.

Questions for listing agent

• It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.