17564 W Grandview Dr

Grandview, OK 74464

$173,500D+

3 bd · 1.0 ba · 1,400 sqft · Built 1974 · SingleFamily · Pending · 90 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,337/mo
• Mortgage (P&I): −$910
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $21/mo
• Annual: $247/yr
• Cap rate: 6.44%
• Cash-on-cash: 0.51%
• DSCR: 1.02
• 1% rule: 0.77%
• Cash to close: $48,580

Investor read

• This is a 3-bed/1.0-bath single-family listed at $174k.
• At list price, monthly cash flow is $21 ($247/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (22.9% below list).
• It's been on market 90 days — a 6% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (22.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#131 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Grand View (rural): math 26% / reading 22% proficiency, ranked #144 of 270 in OK (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Grand View Public School (math 26% / reading 22%, grade F, #402 of 845 statewide, top 48%, 503 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+9.2%/yr); 369 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $16k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $174k implies a 131% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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.
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 90 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.