96 Waresha Trl

Westport, OK 74054

$74,000B-

3 bd · 1.0 ba · 248 sqft · Built 1962 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $918/mo
• Mortgage (P&I): −$388
• Tax + insurance: −$123
• HOA: −$4
• Vac / Maint / Mgmt: −$193
• Net cashflow: $210/mo
• Annual: $2,518/yr
• Cap rate: 9.70%
• Cash-on-cash: 12.15%
• DSCR: 1.54
• 1% rule: 1.24%
• Cash to close: $20,720

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $74k.
• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($918 rent vs $74k).
• It's been on market 37 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($512 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#266 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D, amenities F, commute F.
• Prue (rural): math 45% / reading 35% proficiency, ranked #102 of 513 in OK (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 89 units permitted in Osage County in 2024 (0 in 5+ unit buildings).
• Osage County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.7% vs local median 4.6% in Westport — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.