2200 Cedar St

Idabel, OK 74745

$139,000C+

2 bd · 1.0 ba · 960 sqft · Built 1969 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,299/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $212/mo
• Annual: $2,545/yr
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• 1% rule: 0.93%
• Cash to close: $38,920

Investor read

• This is a 2-bed/1.0-bath single-family listed at $139k.
• At list price, monthly cash flow is $212 ($3k/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 $130k (6.5% below list).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $130k (6.5% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($961 loan paydown + $13k appreciation (9.2% local appreciation)).
• Location reads 63/100 on livability (#202 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety A-; Watch: schools F, amenities F, commute F.
• Denison (rural): math 60% / reading 50% proficiency, ranked #16 of 513 in OK (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 16 units permitted in McCurtain County in 2024 (0 in 5+ unit buildings).
• McCurtain County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (9.2% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 22% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1969 — 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.