6651 108th St

Slaughterville, OK 73068

$133,500B-

3 bd · 2.0 ba · 1,664 sqft · Built 1976 · SingleFamily · Pending · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,540/mo
• Mortgage (P&I): −$700
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$323
• Net cashflow: $365/mo
• Annual: $4,375/yr
• Cap rate: 9.57%
• Cash-on-cash: 11.70%
• DSCR: 1.52
• 1% rule: 1.15%
• Cash to close: $37,380

Investor read

• This is a 3-bed/2.0-bath single-family listed at $134k.
• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• It's been on market 20 days — a 2% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $923 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#228 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Noble (suburban): math 23% / reading 25% proficiency, ranked #108 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Noble Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 883 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 214 active listings in the ZIP; 592 units permitted in Cleveland County in 2024 (12 in 5+ unit buildings).
• Cleveland County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $85k; list at $134k implies a 57% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $37k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.6% vs local median 4.4% in Slaughterville — 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 1976 — 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.