909 W Chickasaw Ln

Stillwater, OK 74075

$214,900D-

3 bd · 2.0 ba · 1,479 sqft · Built 1976 · SingleFamily · Active · 226 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,641/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $-6/mo
• Annual: $-68/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 0.99
• 1% rule: 0.76%
• Cash to close: $60,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $-6 ($-68/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (23.6% below list).
• It's been on market 226 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (23.6% below list) — sets the bar for 1% rule.
• 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 84/100 on livability (#2 in OK, #759 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, health & safety A+; Watch: employment D-.
• Morrison (rural): math 31% / reading 26% proficiency, ranked #65 of 270 in OK (top 24%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morrison Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 339 students, 0% FRL); Morrison Ms (math 12% / reading 12%, grade F, #269 of 345 statewide, top 79%, 88 students, 0% FRL); Morrison Hs (math 24% / reading 44%, grade F, #48 of 447 statewide, top 14%, 176 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+9.7%/yr); 9 active listings in the ZIP; 4 units permitted in Noble County in 2024 (0 in 5+ unit buildings).
• Noble County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• 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.
• This rent runs 43% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 226 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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.
• 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.