108360 Starboard Dr

Texanna, OK 74426

$90,000B-

2 bd · 2.0 ba · 896 sqft · Built 2009 · Manufactured · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $844/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $107/mo
• Annual: $1,283/yr
• Cap rate: 7.72%
• Cash-on-cash: 5.09%
• DSCR: 1.23
• 1% rule: 0.94%
• Cash to close: $25,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $107 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (6.2% below list).
• It's been on market 76 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (6.2% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 65/100 on livability (#140 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools F.
• Checotah (town): math 32% / reading 28% proficiency, ranked #72 of 270 in OK (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 147 active listings in the ZIP; 20 units permitted in McIntosh County in 2024 (0 in 5+ unit buildings).
• McIntosh County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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.
• Cap rate 7.7% vs local median 2.6% in Texanna — 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.

Questions for listing agent

• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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.