313 E 5th St

Konawa, OK 74849

$80,000B

2 bd · 1.0 ba · 1,020 sqft · Built 1961 · SingleFamily · Active · 252 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $977/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $299/mo
• Annual: $3,587/yr
• Cap rate: 10.78%
• Cash-on-cash: 16.01%
• DSCR: 1.71
• 1% rule: 1.22%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $80k).
• It's been on market 252 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($553 loan paydown + $8k appreciation (10.0% local appreciation)).
• Location reads 54/100 on livability (#583 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Konawa (rural): math 17% / reading 19% proficiency, ranked #197 of 270 in OK (top 73%) — 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: Konawa Es (math 12% / reading 12%, grade F, #667 of 845 statewide, top 82%, 299 students, 0% FRL); Konowa Junior High School (90 students, 0% FRL); Konawa Hs (math 5% / reading 34%, grade F, #274 of 447 statewide, top 66%, 155 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.
• Market conditions: 21 active listings in the ZIP; 93 units permitted in Seminole County in 2024 (43 in 5+ unit buildings).
• 12 sale attempts since 14y ago 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.
• Current owner paid $12k; list at $80k implies a 561% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/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 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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 D 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.