522 S 11th St

Clinton, OK 73601

$69,900C

2 bd · 1.0 ba · 891 sqft · Built 1940 · SingleFamily · Pending · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $850/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $222/mo
• Annual: $2,665/yr
• Cap rate: 10.11%
• Cash-on-cash: 13.62%
• DSCR: 1.61
• 1% rule: 1.22%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $70k).
• It's been on market 60 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.4%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#196 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: crime D+, amenities F, commute F.
• Clinton (town): math 21% / reading 23% proficiency, ranked #149 of 270 in OK (top 55%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Southwest Es (math 20% / reading 14%, grade F, #540 of 845 statewide, top 68%, 468 students, 0% FRL); Clinton Hs (math 8% / reading 22%, grade F, #332 of 447 statewide, top 78%, 629 students, 0% FRL) — zoned schools average 0% FRL vs 67% district-wide (67 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: 79 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-2.4% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.
• 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.
• Cap rate 10.1% vs local median 6.0% in Clinton — 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 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.