103 S Cedar St

Crescent, OK 73028

$79,000B+

2 bd · 1.0 ba · 840 sqft · Built 1950 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,045/mo
• Mortgage (P&I): −$414
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $341/mo
• Annual: $4,087/yr
• Cap rate: 11.47%
• Cash-on-cash: 18.48%
• DSCR: 1.82
• 1% rule: 1.32%
• Cash to close: $22,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $526 of equity ($546 loan paydown + $-20 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 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.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 52 active listings in the ZIP; 1 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.
• Current owner paid $28k; list at $79k implies a 182% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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

• Built in 1950 — 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?
• 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.