100 Persimmon St

Cartwright, OK 74731

$86,000B

3 bd · 1.0 ba · 1,234 sqft · Built 1974 · Manufactured · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,151/mo
• Mortgage (P&I): −$451
• Tax + insurance: −$52
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $407/mo
• Annual: $4,879/yr
• Cap rate: 11.97%
• Cash-on-cash: 20.26%
• DSCR: 1.90
• 1% rule: 1.34%
• Cash to close: $24,080

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $86k.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• It's been on market 38 days — a 3% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $83k (3.0% below list) — sets the bar for market timing.
• In year one you build about $712 of equity ($595 loan paydown + $117 appreciation (0.1% local appreciation)).
• Location reads 52/100 on livability (#642 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, crime F.
• Colbert (rural): math 25% / reading 22% proficiency, ranked #142 of 270 in OK (top 53%) — 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: 23 active listings in the ZIP; 176 units permitted in Bryan County in 2024 (80 in 5+ unit buildings).
• Bryan County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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?
• 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.