419 S Talihina

Salina, OK 74365

$55,000B+

1 bd · 1.0 ba · 754 sqft · Built 1940 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,250/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$42
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $657/mo
• Annual: $7,887/yr
• Cap rate: 20.63%
• Cash-on-cash: 51.21%
• DSCR: 3.28
• 1% rule: 2.27%
• Cash to close: $15,400

Investor read

• This is a 1-bed/1.0-bath single-family listed at $55k.
• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 28 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($380 loan paydown + $3k appreciation (5.5% local appreciation)).
• Location reads 61/100 on livability (#279 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute F.
• Salina (rural): math 21% / reading 20% proficiency, ranked #173 of 270 in OK (top 64%) — 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.
• Zoned schools: Salina Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 356 students, 0% FRL); Salina Ms (math 27% / reading 17%, grade F, #129 of 345 statewide, top 42%, 159 students, 0% FRL); Salina Hs (math 15% / reading 15%, grade F, #323 of 447 statewide, top 74%, 251 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 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: 23 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 23 units permitted in Mayes County in 2024 (0 in 5+ unit buildings).
• Mayes County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $30k; list at $55k implies a 83% gain — meaningful room to come down on a strong offer.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1940 — 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.