2489 County Road 1328 Rd

Blanchard, OK 73010

$214,000D

3 bd · 2.0 ba · 1,330 sqft · Built 2019 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,648/mo
• Mortgage (P&I): −$1,122
• Tax + insurance: −$357
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-177/mo
• Annual: $-2,122/yr
• Cap rate: 5.30%
• Cash-on-cash: -3.54%
• DSCR: 0.84
• 1% rule: 0.77%
• Cash to close: $59,920

Investor read

• This is a 3-bed/2.0-bath single-family listed at $214k.
• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (23.0% below list).
• It's been on market 83 days — a 6% lower offer ($201k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (23.0% 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 69/100 on livability (#47 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Middleberg (rural): math 40% / reading 45% proficiency, ranked #55 of 513 in OK (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• 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.
• 4 sale attempts since 7y 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 $172k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.3% vs local median 2.6% in Blanchard — 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 83 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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?
• 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.
• 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.