2001 NW Andrews Ave Unit 1906 NW 20th ST

Lawton, OK 73507

$314,900F

7 bd · 7.0 ba · — sqft · Built 1963 · MultiFamily · Pending · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,682/mo
• Mortgage (P&I): −$1,651
• Tax + insurance: −$525
• HOA: −$0
• Vac / Maint / Mgmt: −$353
• Net cashflow: $-848/mo
• Annual: $-10,173/yr
• Cap rate: 3.06%
• Cash-on-cash: -11.54%
• DSCR: 0.49
• 1% rule: 0.53%
• Cash to close: $88,172

Investor read

• This is a 7-bed/7.0-bath multifamily listed at $315k. Condition is rated fair.
• At list price, monthly cash flow is $-848 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (39.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (46.6% below list).
• It's been on market 62 days — a 6% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $168k (46.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#206 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime F.
• Lawton (urban): math 20% / reading 26% proficiency, ranked #137 of 270 in OK (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 208 active listings in the ZIP; 133 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).
• Comanche County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.1% vs local median 6.1% in Lawton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 62 days. Have you received any prior offers? Is the seller open to a 47% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear
• Major: roof — Visible signs of damage
• Major: flooring — Worn-out carpet
• Major: HVAC/mechanicals — Older units, possibly inefficient