125 E Federal St

Drumright, OK 74030

$30,000B

3 bd · 2.0 ba · 1,036 sqft · Built 1959 · SingleFamily · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,113/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $661/mo
• Annual: $7,932/yr
• Cap rate: 32.73%
• Cash-on-cash: 94.43%
• DSCR: 5.20
• 1% rule: 3.71%
• Cash to close: $8,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 49 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• In year one you build about $548 of equity ($207 loan paydown + $341 appreciation (1.1% local appreciation)).
• Location reads 66/100 on livability (#102 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B; Watch: schools F, amenities F, commute F.
• Drumright (rural): math 24% / reading 25% proficiency, ranked #353 of 513 in OK (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 39 active listings in the ZIP; 193 units permitted in Creek County in 2024 (76 in 5+ unit buildings).
• 3 sale attempts since 11y 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 (1.1% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/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 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1959 — 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.