520 N 6th

Carmen, OK 73726

$160,000D

3 bd · 2.0 ba · 2,472 sqft · Built 1977 · SingleFamily · Active · 154 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,243/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $-10/mo
• Annual: $-124/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• 1% rule: 0.78%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $160k.
• At list price, monthly cash flow is $-10 ($-124/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (22.3% below list).
• It's been on market 154 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (22.3% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#169 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Alva (town): math 29% / reading 32% proficiency, ranked #55 of 270 in OK (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Es (235 students, 0% FRL); Alva Ms (math 20% / reading 27%, grade F, #113 of 345 statewide, top 34%, 241 students, 0% FRL); Alva Hs (math 27% / reading 32%, grade F, #96 of 447 statewide, top 26%, 263 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP.
• Alfalfa County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/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 154 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?