511 E 6th St

Hulbert, OK 74441

$129,000D+

3 bd · 1.0 ba · 1,260 sqft · Built 1984 · SingleFamily · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,125/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$79
• HOA: −$0
• Vac / Maint / Mgmt: −$236
• Net cashflow: $133/mo
• Annual: $1,597/yr
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• 1% rule: 0.87%
• Cash to close: $36,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $129k.
• At list price, monthly cash flow is $133 ($2k/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 $112k (12.8% below list).
• It's been on market 98 days — a 9% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (12.8% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($892 loan paydown + $10k appreciation (7.5% local appreciation)).
• Location reads 62/100 on livability (#261 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.
• Hulbert (rural): math 14% / reading 15% proficiency, ranked #229 of 270 in OK (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 42 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.
• 2 sale attempts since 2y ago 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.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate 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

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 13% 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 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.
• 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.