310 E Oklahoma Ave

Sulphur, OK 73086

$61,000B+

3 bd · 2.0 ba · 1,938 sqft · Built 1968 · SingleFamily · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,225/mo
• Mortgage (P&I): −$320
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $550/mo
• Annual: $6,603/yr
• Cap rate: 17.12%
• Cash-on-cash: 38.66%
• DSCR: 2.72
• 1% rule: 2.01%
• Cash to close: $17,080

Investor read

• This is a 3-bed/2.0-bath single-family listed at $61k.
• At list price, monthly cash flow is $550 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $61k).
• It's been on market 49 days — a 3% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($422 loan paydown + $4k appreciation (5.9% local appreciation)).
• Location reads 68/100 on livability (#60 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities F, commute F.
• Sulphur (town): math 30% / reading 32% proficiency, ranked #56 of 270 in OK (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sulphur Intermediate Es (math 34% / reading 27%, grade F, #247 of 845 statewide, top 30%, 299 students, 0% FRL); Sulphur Hs (math 32% / reading 32%, grade F, #67 of 447 statewide, top 16%, 436 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 147 active listings in the ZIP; 20 units permitted in Murray County in 2024 (0 in 5+ unit buildings).
• Murray County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.1% vs local median 3.4% in Sulphur — 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 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 1968 — 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 D-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.