2724 S Chapman Rd

Clinton, OK 73601

$144,500D+

3 bd · 2.0 ba · 1,652 sqft · Built 1950 · SingleFamily · Pending · 301 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,199/mo
• Mortgage (P&I): −$758
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $-30/mo
• Annual: $-364/yr
• Cap rate: 6.04%
• Cash-on-cash: -0.90%
• DSCR: 0.96
• 1% rule: 0.83%
• Cash to close: $40,460

Investor read

• This is a 3-bed/2.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $-30 ($-364/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (17.0% below list).
• It's been on market 301 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (17.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.4%/yr); year-one equity from $999 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#196 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime D+, amenities F, commute F.
• Clinton (town): math 21% / reading 23% proficiency, ranked #149 of 270 in OK (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southwest Es (math 20% / reading 14%, grade F, #540 of 845 statewide, top 68%, 468 students, 0% FRL); Clinton Ms (math 32% / reading 28%, grade F, #49 of 345 statewide, top 15%, 282 students, 0% FRL); Clinton Hs (math 8% / reading 22%, grade F, #332 of 447 statewide, top 78%, 629 students, 0% FRL) — zoned schools average 0% FRL vs 67% district-wide (67 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 79 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 4y 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.
• Climate carrying-cost: major 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

• 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 301 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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?