404 N Quapaw Rd

Porum, OK 74455

$127,900C-

3 bd · 1.0 ba · 1,424 sqft · Built 1991 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,091/mo
• Mortgage (P&I): −$671
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$229
• Net cashflow: $77/mo
• Annual: $928/yr
• Cap rate: 7.02%
• Cash-on-cash: 2.59%
• DSCR: 1.12
• 1% rule: 0.85%
• Cash to close: $35,812

Investor read

• This is a 3-bed/1.0-bath single-family listed at $128k.
• At list price, monthly cash flow is $77 ($928/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 $109k (14.7% below list).
• It's been on market 55 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (14.7% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($884 loan paydown + $8k appreciation (6.6% local appreciation)).
• Location reads 62/100 on livability (#240 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Porum (rural): math 19% / reading 24% proficiency, ranked #172 of 270 in OK (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 129 active listings in the ZIP; 58 units permitted in Muskogee County in 2024 (0 in 5+ unit buildings).
• Muskogee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $69k; list at $128k implies a 85% gain — meaningful room to come down on a strong offer.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 15% 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 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 F 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.