207 Pioneer Way

Burns Flat, OK 73647

$115,000D+

3 bd · 2.0 ba · 1,386 sqft · Built 1958 · SingleFamily · Active · 456 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,155/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $118/mo
• Annual: $1,412/yr
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• 1% rule: 1.00%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 456 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($795 loan paydown + $1k appreciation (1.3% local appreciation)).
• Location reads 66/100 on livability (#122 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Burns Flat-Dill City (rural): math 15% / reading 22% proficiency, ranked #183 of 270 in OK (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Will Rogers Es (math 13% / reading 19%, grade F, #582 of 845 statewide, top 69%, 366 students, 0% FRL); Burns Flat-Dill City Hs (math 24% / reading 44%, grade F, #48 of 447 statewide, top 14%, 127 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 1 units permitted in Washita County in 2024 (0 in 5+ unit buildings).
• Washita County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $25k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $115k implies a 522% gain — meaningful room to come down on a strong offer.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 456 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1958 — 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 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?
• 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.