12383 N 365 Rd · Seminole, OK 74884

$90,000

3 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 155 Days on market

Built 1991 1.04 ac lot ↓ 9% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Enjoy peaceful waterfront living with this 1991 manufactured home offering 3 bedrooms, 2 bathrooms, and approximately 1680 square feet of living area. Situated directly on a reservoir, this property provides beautiful water views and a tranquil setting that's hard to find. The large, open family room features a corner fireplace, creating a warm and inviting gathering space, while the kitchen overlooks the water-perfect for enjoying the scenery while cooking or dining. A wood privacy fence with a gated entrance adds separation from the road and a sense of seclusion. The home is being sold as-is, with the seller making no repairs, offering a great opportunity for buyers looking to personalize

Key facts

• Open family room
• Waterfront living
• Wood privacy fence

Tags

• WATERFRONT LIVING
• BEAUTIFUL WATER VIEWS
• OPEN FAMILY ROOM
• CORNER FIREPLACE
• KITCHEN OVERLOOKS WATER
• WOOD PRIVACY FENCE

Property features AI

Finance

• Other: Located in Del Marr legal addition; Vacant and available; Manual geocode; directions available
• Financial info: Property offered As Is
• HOA & community: No mandatory association dues

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Underground sprinkler; Flood insurance applies
• Home design: Single family residence; Residential property; One level; Existing structure; Homestead exempt
• Construction: Manufactured construction; Composition roof; Combination foundation; Built as existing (year not provided)
• Exterior features: Covered porch; Wood fencing; Rural setting; Waterfront

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating or cooling details provided
• Interior features: 1 living area; 1 dining area; Carpet and laminate flooring; Fireplace (1) with other fireplace features
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.8% in Seminole — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#222 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, amenities F, commute F.
• Butner (rural): math 10% / reading 20% proficiency, ranked #475 of 513 in OK (top 93%) — 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: Butner Es (math 12% / reading 17%, grade F, #604 of 845 statewide, top 76%, 141 students, 0% FRL); Butner Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 60 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: 30 active listings in the ZIP; 93 units permitted in Seminole County in 2024 (43 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($622 loan paydown + $6k appreciation (6.5% local appreciation)).
• At projected returns (6.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.30%
• DSCR: 1.90
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.46% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 2.89×
• Total profit: $47,659
• Equity at exit: $59,187

10-year hold

• IRR: 26.1%
• Equity multiple: 5.95×
• Total profit: $124,675
• Equity at exit: $109,661

Cash invested: $25,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 74884

• Home prices YoY: 2.7%
• Active inventory: 30
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$27 /mo · $329/yr
• Insurance: −$38
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $301

Break-even live

Break-even rent $838

Max offer price $90,000

Occupancy floor 70%

Sensitivity live

Price	-10% $352	-5% $327	+0% $301	+5% $276	+10% $250
Rent	-10% $205	-5% $253	+0% $301	+5% $349	+10% $397
Rate	-1.0pp $346	-0.5pp $324	base $301	+0.5pp $278	+1.0pp $254

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $90,000 Active 155 DOM
2. 2026-06-18
   days on market $90,000 Active 153 DOM
3. 2026-06-17
   days on market $90,000 Active 152 DOM
4. 2026-06-16
   days on market $90,000 Active 151 DOM
5. 2026-06-15
   days on market $90,000 Active 150 DOM
6. 2026-06-13
   days on market $90,000 Active 148 DOM
7. 2026-06-12
   days on market $90,000 Active 147 DOM
8. 2026-06-09
   days on market $90,000 Active 144 DOM
9. 2026-06-08
   days on market $90,000 Active 143 DOM
10. 2026-06-08
    days on market $90,000 Active 142 DOM
11. 2026-06-05
    days on market $90,000 Active 140 DOM
12. 2026-06-04
    days on market $90,000 Active 138 DOM
13. 2026-06-02
    days on market $90,000 Active 137 DOM
14. 2026-06-01
    days on market $90,000 Active 136 DOM
15. 2026-05-31
    days on market $90,000 Active 135 DOM
16. 2026-03-21
    price $90,000
17. 2026-01-15
    listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $329 · $27/mo
• Projected year-2 tax: $810 · $67/mo
• Expected delta: +$481/yr (+$40/mo · 146.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,631
• − Mortgage interest: −$5,041
• − Property taxes: −$329
• − Insurance: −$1,952
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$2,618
• Taxable income: $2,349
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $3,050/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Butner
• NCES district ID: 4006000
• Math proficiency: 10% ▲ 4.00%
• Reading proficiency: 20% ▲ 5.00%
• Median HH income: $37,261
• Composite: 15.98/100
• National rank: #14305
• State rank: #475 of 513 in OK

Livability — Seminole

• Score: 63/100
• State rank: #222
• US rank: #15706

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing A Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,558

Population outlook (Seminole County) Hauer SSP2

• Today (2025): 25,628 people
• By 2030: 25,617 · +-0.0%
• By 2040: 25,619 · +-0.0%
• By 2050: 25,726 · +0.4%
• By 2075: 26,261 · +2.5%
• By 2100: 25,844 · +0.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 55% Native American 20% Two or more races 13% Black 8% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Seminole

• 2024 margin: Solid R (+49.7) · D 24.2% · R 74.0% · Other 1.8%
• 2008→2024 swing: -19.1pp toward R · 2008: -30.6pp · 2024: -49.7pp
• All cycles: 2024: R+49.7 2020: R+46.3 2016: R+44.1 2012: R+30.3 2008: R+30.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.46%
• Current HPI: 245.5435
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

-9.1% since first listed

2 events — show timeline

• 2026-03-21 Price Changed $90,000 MLSOK
• 2026-01-15 Listed $99,000 MLSOK

Property tax history

-0.4%/yr

Latest (2025): $329 · +3.1% YoY. Source: county tax records.