2354 E Waynoka St

Waynoka, OK 73860

$94,900C-

2 bd · 1.0 ba · 720 sqft · Built 1940 · SingleFamily · Active · 325 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $822/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $66/mo
• Annual: $797/yr
• Cap rate: 7.13%
• Cash-on-cash: 3.00%
• DSCR: 1.13
• 1% rule: 0.87%
• Cash to close: $26,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $66 ($797/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 $82k (13.4% below list).
• It's been on market 325 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (13.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($656 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 63/100 on livability (#230 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment D+, amenities F, commute F.
• Waynoka (rural): math 40% / reading 40% proficiency, ranked #100 of 513 in OK (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Waynoka Es (math 27% / reading 37%, grade F, #213 of 845 statewide, top 28%, 158 students, 0% FRL); Waynoka Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 65 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP.
• Woods County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $17k; list at $95k implies a 464% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/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 325 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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.