505 W Harrison St

Maud, OK 74854

$110,000C+

3 bd · 1.0 ba · 1,478 sqft · Built 1960 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $158/mo
• Annual: $1,900/yr
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• 1% rule: 1.06%
• Cash to close: $30,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($761 loan paydown + $3k appreciation (2.5% local appreciation)).
• Location reads 63/100 on livability (#204 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Maud (rural): math 10% / reading 15% proficiency, ranked #483 of 513 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Maud Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 187 students, 0% FRL); Maud Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 83 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 15 active listings in the ZIP; 183 units permitted in Pottawatomie County in 2024 (16 in 5+ unit buildings).
• Pottawatomie County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $75k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe 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

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.