17440 E Meadow Ln

Foyil, OK 74017

$218,900D-

4 bd · 2.0 ba · 2,240 sqft · Built 2001 · Manufactured · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,731/mo
• Mortgage (P&I): −$1,148
• Tax + insurance: −$137
• HOA: −$0
• Vac / Maint / Mgmt: −$363
• Net cashflow: $82/mo
• Annual: $984/yr
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• 1% rule: 0.79%
• Cash to close: $61,292

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $219k.
• At list price, monthly cash flow is $82 ($984/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (20.9% below list).
• It's been on market 29 days — a 2% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $173k (20.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#512 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Foyil (rural): math 25% / reading 20% proficiency, ranked #364 of 513 in OK (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Foyil Es (math 17% / reading 12%, grade F, #604 of 845 statewide, top 76%, 227 students, 0% FRL); Foyil Jhs (math 2% / reading 12%, grade F, #311 of 345 statewide, top 92%, 96 students, 0% FRL); Foyil Hs (math 30% / reading 30%, grade F, #76 of 447 statewide, top 20%, 102 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.6%/yr); 184 active listings in the ZIP; 608 units permitted in Rogers County in 2024 (7 in 5+ unit buildings).
• Rogers County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 15y ago 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 $53k; list at $219k implies a 310% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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 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?
• 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.
• 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.