148 S Kennedy St

White Oak, OK 74301

$36,000A-

3 bd · 2.0 ba · 1,120 sqft · Built 2011 · Manufactured · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$189
• Tax + insurance: −$43
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $785/mo
• Annual: $9,415/yr
• Cap rate: 32.45%
• Cash-on-cash: 93.40%
• DSCR: 5.16
• 1% rule: 3.57%
• Cash to close: $10,080

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $36k.
• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• It's been on market 105 days — a 9% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $33k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($249 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 54/100 on livability (#573 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools D-, amenities F, commute F.
• White Oak (rural): math 25% / reading 25% proficiency, ranked #107 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 113 active listings in the ZIP; 24 units permitted in Craig County in 2024 (0 in 5+ unit buildings).
• Craig County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $9k (20%) 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k 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→20/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 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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 D-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.