30228 Water St

Bokoshe, OK 74930

$54,000B

3 bd · 1.0 ba · 1,400 sqft · Built 1930 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $700/mo
• Mortgage (P&I): −$283
• Tax + insurance: −$44
• HOA: −$0
• Vac / Maint / Mgmt: −$147
• Net cashflow: $225/mo
• Annual: $2,704/yr
• Cap rate: 11.30%
• Cash-on-cash: 17.88%
• DSCR: 1.80
• 1% rule: 1.30%
• Cash to close: $15,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $54k.
• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($700 rent vs $54k).
• It's been on market 55 days — a 3% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($373 loan paydown + $2k appreciation (3.9% local appreciation)).
• Location reads 54/100 on livability (#602 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Bokoshe (rural): math 10% / reading 25% proficiency, ranked #452 of 513 in OK (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bokoshe Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 102 students, 0% FRL); Bokoshe Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 45 students, 0% FRL) — zoned schools average 0% FRL vs 88% district-wide (88 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 73 units permitted in Le Flore County in 2024 (0 in 5+ unit buildings).
• Le Flore County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $28k; list at $54k implies a 89% gain — meaningful room to come down on a strong offer.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 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.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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 F 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.
• 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.