808 E Indiana St

Optima, OK 73945

$55,000B+

3 bd · 1.0 ba · 700 sqft · Built 1980 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $947/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$37
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $422/mo
• Annual: $5,066/yr
• Cap rate: 15.50%
• Cash-on-cash: 32.90%
• DSCR: 2.46
• 1% rule: 1.72%
• Cash to close: $15,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($947 rent vs $55k).
• It's been on market 26 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 58/100 on livability (#421 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, crime F.
• Zoned schools: Optima Public School (math 10% / reading 10%, grade F, #695 of 845 statewide, top 84%, 47 students, 0% FRL).
• Market conditions: 5 active listings in the ZIP; 4 units permitted in Texas County in 2024 (0 in 5+ unit buildings).
• Texas County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; 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

• 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.
• 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.