120397 S 4184 Rd

Eufaula, OK 74432

$69,500B

2 bd · 2.0 ba · 924 sqft · Built 1974 · Other · Active · 78 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $870/mo
• Mortgage (P&I): −$364
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $207/mo
• Annual: $2,488/yr
• Cap rate: 9.87%
• Cash-on-cash: 12.78%
• DSCR: 1.57
• 1% rule: 1.25%
• Cash to close: $19,460

Investor read

• This is a 2-bed/2.0-bath other listed at $70k.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($870 rent vs $70k).
• It's been on market 78 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($481 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#28 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Eufaula (rural): math 25% / reading 25% proficiency, ranked #120 of 270 in OK (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Eufaula Es (math 25% / reading 22%, grade F, #407 of 845 statewide, top 48%, 532 students, 0% FRL); Eufaula Ms (math 27% / reading 24%, grade F, #84 of 345 statewide, top 26%, 285 students, 0% FRL); Eufaula Hs (math 17% / reading 32%, grade F, #150 of 447 statewide, top 48%, 368 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 406 active listings in the ZIP; 20 units permitted in McIntosh County in 2024 (0 in 5+ unit buildings).
• McIntosh County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.9% vs local median 2.9% in Eufaula — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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 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.