103 S Luella St

Dewar, OK 74431

$85,000C

2 bd · 1.5 ba · 1,598 sqft · Built 1930 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,057/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$142
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $247/mo
• Annual: $2,969/yr
• Cap rate: 9.79%
• Cash-on-cash: 12.47%
• DSCR: 1.56
• 1% rule: 1.24%
• Cash to close: $23,800

Investor read

• This is a 2-bed/1.5-bath single-family listed at $85k. Condition is rated fair.
• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 63/100 on livability (#214 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.
• Dewar (town): math 5% / reading 4% proficiency, ranked #263 of 270 in OK (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dewar Es (math 8% / reading 2%, grade F, #766 of 845 statewide, top 94%, 240 students, 0% FRL); Dewar Ms (math 2% / reading 2%, grade F, #334 of 345 statewide, top 98%, 119 students, 0% FRL); Dewar Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 137 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 12 units permitted in Okmulgee County in 2024 (0 in 5+ unit buildings).
• Okmulgee County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe 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 1930 — 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)

• Minor: exterior siding — Slight discoloration
• Minor: landscaping — Overgrown grass