910 W Choctaw St

Lindsay, OK 73052

$72,000B-

2 bd · 1.0 ba · 1,116 sqft · Built 1970 · SingleFamily · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $999/mo
• Mortgage (P&I): −$378
• Tax + insurance: −$516
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $-104/mo
• Annual: $-1,251/yr
• Cap rate: 11.67%
• Cash-on-cash: 19.19%
• DSCR: 1.85
• 1% rule: 1.39%
• Cash to close: $20,160

Investor read

• This is a 2-bed/1.0-bath single-family listed at $72k.
• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $54k (25.6% below list).
• Meets the 1% rule at list price ($999 rent vs $72k).
• It's been on market 40 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (25.6% below list) — sets the bar for cash-flow.
• In year one you build about $6k of equity ($498 loan paydown + $5k appreciation (7.2% local appreciation)).
• Location reads 59/100 on livability (#380 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Lindsay (town): math 21% / reading 24% proficiency, ranked #141 of 270 in OK (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lindsay Es (math 25% / reading 24%, grade F, #354 of 845 statewide, top 47%, 606 students, 0% FRL); Lindsay Ms (math 20% / reading 23%, grade F, #146 of 345 statewide, top 43%, 234 students, 0% FRL); Lindsay Hs (math 12% / reading 22%, grade F, #314 of 447 statewide, top 72%, 324 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 46 active listings in the ZIP; 1 units permitted in Garvin County in 2024 (0 in 5+ unit buildings).
• Garvin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $30k; list at $72k implies a 144% gain — meaningful room to come down on a strong offer.
• 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: in FEMA flood zone AE (mandatory federal flood insurance); moderate wildfire risk; extreme-heat days projected 7→19/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 40 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.