206 Pine St

North Miami, OK 74358

$16,000D+

2 bd · 1.0 ba · 840 sqft · Built 1985 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $905/mo
• Mortgage (P&I): −$84
• Tax + insurance: −$22
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $609/mo
• Annual: $7,309/yr
• Cap rate: 51.97%
• Cash-on-cash: 163.14%
• DSCR: 8.26
• 1% rule: 5.66%
• Cash to close: $4,480

Investor read

• This is a 2-bed/1.0-bath single-family listed at $16k.
• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($905 rent vs $16k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $591 of equity ($111 loan paydown + $480 appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#520 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Commerce (town): math 15% / reading 18% proficiency, ranked #221 of 270 in OK (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 3 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).
• Ottawa County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — 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?
• 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.
• 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.