601 W Apache St

Lindsay, OK 73052

$95,000B-

3 bd · 2.0 ba · 1,353 sqft · Built 1960 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,097/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$347
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $21/mo
• Annual: $252/yr
• Cap rate: 9.96%
• Cash-on-cash: 13.09%
• DSCR: 1.58
• 1% rule: 1.15%
• Cash to close: $26,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $21 ($252/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 46 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($657 loan paydown + $7k appreciation (7.2% local appreciation)).
• Location reads 59/100 on livability (#380 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Lindsay (town): math 21% / reading 24% proficiency, ranked #141 of 270 in OK (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lindsay Es (math 25% / reading 24%, grade F, #354 of 845 statewide, top 47%, 606 students, 0% FRL); Lindsay Hs (math 12% / reading 22%, grade F, #314 of 447 statewide, top 72%, 324 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $269/mo.
• Market conditions: 45 active listings in the ZIP; 1 units permitted in Garvin County in 2024 (0 in 5+ unit buildings).
• Garvin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $42k; list at $95k implies a 129% gain — meaningful room to come down on a strong offer.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.