114 W B St

Okeene, OK 73763

$69,000A

2 bd · 1.0 ba · 1,334 sqft · Built 1945 · SingleFamily · Active · 152 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $457/mo
• Annual: $5,485/yr
• Cap rate: 14.24%
• Cash-on-cash: 28.39%
• DSCR: 2.26
• 1% rule: 1.60%
• Cash to close: $19,320

Investor read

• This is a 2-bed/1.0-bath single-family listed at $69k.
• At list price, monthly cash flow is $457 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• It's been on market 152 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($477 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 73/100 on livability (#19 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Okeene (rural): math 30% / reading 30% proficiency, ranked #256 of 513 in OK (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Okeene Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 176 students, 0% FRL); Okeene Jr-Sr Hs (Jr) (math 15% / reading 15%, grade F, #220 of 345 statewide, top 65%, 46 students, 0% FRL); Okeene Jr-Sr Hs (Sr) (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 106 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.
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Okeene average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 3 units permitted in Blaine County in 2024 (0 in 5+ unit buildings).
• Blaine County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 3y 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 6→15/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 152 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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 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?
• 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.