100 Quailwood Dr

Johnson, OK 74804

$119,900C+

3 bd · 2.0 ba · 1,216 sqft · Built 2008 · Manufactured · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,291/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $292/mo
• Annual: $3,500/yr
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• 1% rule: 1.08%
• Cash to close: $33,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• It's been on market 46 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#451 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Zoned schools: North Rock Creek Es (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 467 students, 0% FRL); North Rock Creek Hs (math 27% / reading 22%, grade F, #150 of 447 statewide, top 48%, 454 students, 0% FRL).
• Market conditions: Rents rising (+2.5%/yr); 389 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.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $85k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.