98413 Ok-100 Hwy

Notchietown, OK 74435

$1,150,777D+

169 bd · 175.5 ba · 4,950 sqft · Built 1954 · MultiFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $9,831/mo
• Mortgage (P&I): −$6,035
• Tax + insurance: −$1,918
• HOA: −$0
• Vac / Maint / Mgmt: −$2,065
• Net cashflow: $-186/mo
• Annual: $-2,235/yr
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $322,218

Investor read

• This is a 13 × 1-bed/1-bath units multifamily listed at $1.15M. Condition is rated good.
• At list price, monthly cash flow is $-186 ($-2k/yr) — negative. Per door: $-14/mo.
• To cash-flow at today's rent, offer at most $1.12M (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $983k (14.6% below list).
• It's been on market 31 days — a 3% lower offer ($1.12M) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $983k (14.6% below list) — sets the bar for 1% rule.
• In year one you build about $123k of equity ($8k loan paydown + $115k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#281 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, crime F, amenities F.
• Gore (rural): math 20% / reading 20% proficiency, ranked #175 of 270 in OK (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gore Es (math 27% / reading 22%, grade F, #354 of 845 statewide, top 47%, 248 students, 0% FRL); Gore Hs (math 15% / reading 15%, grade F, #323 of 447 statewide, top 74%, 161 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 36 active listings in the ZIP; 125 units permitted in Sequoyah County in 2024 (0 in 5+ unit buildings).
• Sequoyah County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$198k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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

• 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 31 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1954 — 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?
• 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?