970888 S Rambling Oaks Rd

Harrah, OK 73054

$169,000F

3 bd · 2.0 ba · 1,216 sqft · Built 2022 · Manufactured · Pending · 131 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $876/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$193
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $-387/mo
• Annual: $-4,648/yr
• Cap rate: 3.54%
• Cash-on-cash: -9.82%
• DSCR: 0.56
• 1% rule: 0.52%
• Cash to close: $47,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $169k.
• At list price, monthly cash flow is $-387 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (40.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (48.2% below list).
• It's been on market 131 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (48.2% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#163 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Harrah (town): math 24% / reading 29% proficiency, ranked #82 of 270 in OK (top 30%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Russell Babb Es (math 31% / reading 33%, grade F, #213 of 845 statewide, top 28%, 340 students, 0% FRL); Harrah Ms (math 18% / reading 27%, grade F, #122 of 345 statewide, top 37%, 528 students, 0% FRL); Harrah Hs (math 27% / reading 27%, grade F, #125 of 447 statewide, top 31%, 630 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 65 active listings in the ZIP; 19 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Current owner paid $8k; list at $169k implies a 2012% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major 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 131 days. Have you received any prior offers? Is the seller open to a 48% 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 D-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.