14501 E 202nd St S

Bixby, OK 74008

$210,000C

4 bd · 1.0 ba · 1,803 sqft · Built 1972 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,197/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$461
• Net cashflow: $377/mo
• Annual: $4,522/yr
• Cap rate: 8.45%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• 1% rule: 1.05%
• Cash to close: $58,800

Investor read

• This is a 4-bed/1.0-bath single-family listed at $210k.
• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#24 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Bixby (suburban): math 39% / reading 36% proficiency, ranked #15 of 270 in OK (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.3%/yr); 789 active listings in the ZIP; solid renter incomes; 581 units permitted in Wagoner County in 2024 (0 in 5+ unit buildings).
• Wagoner County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $147k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.4% vs local median 3.6% in Bixby — 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

• Built in 1972 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.