106 Cowan Ln

Pocola, OK 74902

$70,000B+

3 bd · 1.0 ba · 1,236 sqft · Built 1983 · SingleFamily · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $942/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$58
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $319/mo
• Annual: $3,831/yr
• Cap rate: 11.77%
• Cash-on-cash: 19.54%
• DSCR: 1.87
• 1% rule: 1.35%
• Cash to close: $19,600

Investor read

• This is a 3-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($942 rent vs $70k).
• It's been on market 135 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.4%/yr); year-one equity from $484 of loan paydown is wiped out by about $967 of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#179 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• Pocola (rural): math 15% / reading 23% proficiency, ranked #188 of 270 in OK (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pocola Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 385 students, 0% FRL); Pocola Ms (math 12% / reading 17%, grade F, #234 of 345 statewide, top 72%, 155 students, 0% FRL); Pocola Hs (math 15% / reading 34%, grade F, #145 of 447 statewide, top 33%, 207 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 40 active listings in the ZIP; 73 units permitted in Le Flore County in 2024 (0 in 5+ unit buildings).
• Le Flore County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-1.4% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.8% vs local median 3.2% in Pocola — 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

• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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.