26190 Ash Ln

Cole, OK 73010

$157,500C+

3 bd · 2.0 ba · 1,470 sqft · Built 1984 · Manufactured · Active · 97 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,648/mo
• Mortgage (P&I): −$826
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $374/mo
• Annual: $4,491/yr
• Cap rate: 9.14%
• Cash-on-cash: 10.18%
• DSCR: 1.45
• 1% rule: 1.05%
• Cash to close: $44,100

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $158k.
• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• It's been on market 97 days — a 9% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (9.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Location reads 58/100 on livability (#439 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment B+; Watch: crime C-, amenities F, commute F.
• Dibble (rural): math 9% / reading 10% proficiency, ranked #249 of 270 in OK (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dibble Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 345 students, 0% FRL); Dibble Hs (math 5% / reading 15%, grade F, #361 of 447 statewide, top 94%, 206 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 507 active listings in the ZIP; solid renter incomes; 334 units permitted in McClain County in 2024 (0 in 5+ unit buildings).
• McClain County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $24k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $158k implies a 266% gain — meaningful room to come down on a strong offer.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~5 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: moderate wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.1% vs local median 2.8% in Cole — 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 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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.