4 W Hickory

Tryon, OK 74875

$109,500B-

3 bd · 2.0 ba · 1,496 sqft · Built 1976 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,169/mo
• Mortgage (P&I): −$574
• Tax + insurance: −$80
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $270/mo
• Annual: $3,236/yr
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• 1% rule: 1.07%
• Cash to close: $30,660

Investor read

• This is a 3-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $270 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 21 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($757 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 66/100 on livability (#115 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Perkins-Tryon (rural): math 27% / reading 25% proficiency, ranked #95 of 270 in OK (top 35%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 19 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (15%) 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• Built in 1976 — 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?
• 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.