306 S 2nd St

Rush Springs, OK 73082

$25,000A-

3 bd · 1.0 ba · 1,072 sqft · Built 1970 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,021/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $634/mo
• Annual: $7,604/yr
• Cap rate: 36.71%
• Cash-on-cash: 108.62%
• DSCR: 5.83
• 1% rule: 4.08%
• Cash to close: $7,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $25k. Condition is rated fair.
• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($173 loan paydown + $2k appreciation (9.6% local appreciation)).
• Location reads 63/100 on livability (#224 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Rush Springs (rural): math 14% / reading 25% proficiency, ranked #181 of 270 in OK (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rush Springs Es (math 17% / reading 27%, grade F, #413 of 845 statewide, top 54%, 244 students, 0% FRL); Rush Springs Hs (math 10% / reading 30%, grade F, #236 of 447 statewide, top 61%, 130 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 34 active listings in the ZIP; 224 units permitted in Grady County in 2024 (0 in 5+ unit buildings).
• Grady County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (9.6% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The independent image shows significant damage to the roof.
• Major: exterior siding — The independent image shows weathered siding and peeling paint.
• Major: interior walls — The independent image shows peeling paint and worn carpeting.
• Major: landscaping — The independent image shows dated landscaping and fencing that could be updated for curb appeal.