33906 Highway 59b

Tribbey, OK 74852

$73,000B+

3 bd · 1.0 ba · 1,456 sqft · Built 1920 · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,160/mo
• Mortgage (P&I): −$383
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $458/mo
• Annual: $5,498/yr
• Cap rate: 13.83%
• Cash-on-cash: 26.90%
• DSCR: 2.20
• 1% rule: 1.59%
• Cash to close: $20,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $73k.
• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• It's been on market 66 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($505 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 53/100 on livability (#605 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Macomb (rural): math 20% / reading 15% proficiency, ranked #439 of 513 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Macomb Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 176 students, 0% FRL); Macomb Hs (math 10% / reading 30%, grade F, #236 of 447 statewide, top 61%, 75 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 183 units permitted in Pottawatomie County in 2024 (16 in 5+ unit buildings).
• Pottawatomie County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $27k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→18/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 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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 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.