417 S Grand St

Crescent, OK 73028

$150,000D+

2 bd · 2.0 ba · 1,182 sqft · Built 1960 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,215/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $-18/mo
• Annual: $-213/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• 1% rule: 0.81%
• Cash to close: $42,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-18 ($-213/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (19.0% below list).
• It's been on market 52 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (19.0% below list) — sets the bar for 1% rule.
• In year one you build about $998 of equity ($1k loan paydown + $-39 appreciation (-0.0% local appreciation)).
• Location reads 62/100 on livability (#257 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Crescent (rural): math 22% / reading 25% proficiency, ranked #132 of 270 in OK (top 49%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Crescent Es (math 32% / reading 27%, grade F, #255 of 845 statewide, top 35%, 308 students, 0% FRL); Crescent Ms (math 12% / reading 17%, grade F, #234 of 345 statewide, top 72%, 89 students, 0% FRL); Crescent Hs (math 15% / reading 34%, grade F, #145 of 447 statewide, top 33%, 192 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 102 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $108k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.