209 E Lake Dr

Temple, OK 73568

$58,900A-

3 bd · 1.0 ba · 1,272 sqft · Built 1973 · SingleFamily · Active · 149 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,043/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $454/mo
• Annual: $5,443/yr
• Cap rate: 15.53%
• Cash-on-cash: 33.00%
• DSCR: 2.47
• 1% rule: 1.77%
• Cash to close: $16,492

Investor read

• This is a 3-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• It's been on market 149 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($407 loan paydown + $2k appreciation (3.1% local appreciation)).
• Location reads 49/100 on livability (#683 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools D-, crime F, amenities F.
• Temple (rural): math 25% / reading 20% proficiency, ranked #384 of 513 in OK (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 2 active listings in the ZIP.
• Cotton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts; this cycle's ask has dropped $11k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate 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 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1973 — 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 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?
• Crime grade is F 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.