601 N Morton St

Hollis, OK 73550

$95,500B

3 bd · 2.0 ba · 1,768 sqft · Built 1960 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,108/mo
• Mortgage (P&I): −$501
• Tax + insurance: −$74
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $301/mo
• Annual: $3,608/yr
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• 1% rule: 1.16%
• Cash to close: $26,740

Investor read

• This is a 3-bed/2.0-bath single-family listed at $96k.
• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• It's been on market 23 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $660 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#342 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Hollis (rural): math 23% / reading 32% proficiency, ranked #94 of 270 in OK (top 35%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hollis Es (math 27% / reading 32%, grade F, #255 of 845 statewide, top 35%, 229 students, 0% FRL); Hollis Ms (math 22% / reading 27%, grade F, #97 of 345 statewide, top 31%, 108 students, 0% FRL); Hollis Hs (math 10% / reading 50%, grade F, #89 of 447 statewide, top 21%, 155 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP.
• Harmon County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 15y 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 $60k; list at $96k implies a 61% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.