26555 Elm Rd

Cole, OK 73010

$99,900B-

2 bd · 1.0 ba · 784 sqft · Built 1980 · SingleFamily · Pending · 168 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,251/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $298/mo
• Annual: $3,576/yr
• Cap rate: 9.87%
• Cash-on-cash: 12.78%
• DSCR: 1.57
• 1% rule: 1.25%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 168 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($691 loan paydown + $1k appreciation (1.4% local appreciation)).
• Location reads 58/100 on livability (#439 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment B+; Watch: crime C-, amenities F, commute F.
• Washington (rural): math 38% / reading 37% proficiency, ranked #20 of 270 in OK (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Es (math 43% / reading 43%, grade F, #80 of 845 statewide, top 10%, 565 students, 0% FRL); Washington Ms (math 36% / reading 30%, grade F, #35 of 345 statewide, top 10%, 279 students, 0% FRL); Washington Hs (math 32% / reading 37%, grade F, #48 of 447 statewide, top 14%, 353 students, 0% FRL) — zoned schools average 0% FRL vs 23% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 516 active listings in the ZIP; solid renter incomes; 334 units permitted in McClain County in 2024 (0 in 5+ unit buildings).
• McClain County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.9% vs local median 2.8% in Cole — 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.
• This rent is only 17% of the median local income ($90k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 168 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.