112 W First St

Coyle, OK 73027

$113,000A-

3 bd · 1.0 ba · 1,337 sqft · Built 1940 · SingleFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,827/mo
• Mortgage (P&I): −$593
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$384
• Net cashflow: $740/mo
• Annual: $8,875/yr
• Cap rate: 14.15%
• Cash-on-cash: 28.05%
• DSCR: 2.25
• 1% rule: 1.62%
• Cash to close: $31,640

Investor read

• This is a 3-bed/1.0-bath single-family listed at $113k.
• At list price, monthly cash flow is $740 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $113k).
• It's been on market 65 days — a 6% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (6.0% below list) — sets the bar for market timing.
• In year one you build about $996 of equity ($781 loan paydown + $215 appreciation (0.2% local appreciation)).
• Location reads 53/100 on livability (#617 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, crime F, amenities F.
• Coyle (rural): math 20% / reading 25% proficiency, ranked #366 of 513 in OK (top 71%) — 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: Coyle Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 244 students, 0% FRL); Coyle Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 98 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 102 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 14 sale attempts since 8y 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 $93k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.2% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/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 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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 F 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.