2985 E Shalmar Rd

Sulphur, OK 73086

$119,999D+

3 bd · 2.0 ba · 896 sqft · Built 2001 · Manufactured · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $945/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$78
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $39/mo
• Annual: $465/yr
• Cap rate: 6.68%
• Cash-on-cash: 1.38%
• DSCR: 1.06
• 1% rule: 0.79%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $39 ($465/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (21.2% below list).
• It's been on market 40 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $95k (21.2% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($829 loan paydown + $7k 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-, schools D-, amenities F.
• Davis (town): math 20% / reading 29% proficiency, ranked #112 of 270 in OK (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 148 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k 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 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 3.5% 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 40 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.