2400 County Road 1216

Bridge Creek, OK 73010

$215,000D+

3 bd · 2.0 ba · 1,534 sqft · Built 2008 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,647/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$302
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-129/mo
• Annual: $-1,543/yr
• Cap rate: 5.95%
• Cash-on-cash: -1.24%
• DSCR: 0.94
• 1% rule: 0.77%
• Cash to close: $60,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $215k.
• At list price, monthly cash flow is $-129 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (23.4% below list).
• It's been on market 93 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (23.4% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($1k loan paydown + $3k appreciation (1.4% local appreciation)).
• Location reads 68/100 on livability (#72 in OK) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Bridge Creek (rural): math 30% / reading 29% proficiency, ranked #53 of 270 in OK (top 20%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bridge Creek Ies (math 29% / reading 32%, grade F, #247 of 845 statewide, top 30%, 409 students, 0% FRL); Bridge Creek Hs (math 27% / reading 32%, grade F, #96 of 447 statewide, top 26%, 508 students, 0% FRL) — zoned schools average 0% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 507 active listings in the ZIP; solid renter incomes; 224 units permitted in Grady County in 2024 (0 in 5+ unit buildings).
• Grady County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $139k; list at $215k implies a 55% gain — meaningful room to come down on a strong offer.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; moderate 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 5.9% vs local median 2.3% in Bridge Creek — 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

• 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 93 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.