7400 Lakewood Dr

Oklahoma City, OK 73064

$274,900F

2 bd · 1.0 ba · 1,788 sqft · Built 1965 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,513/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$288
• HOA: −$0
• Vac / Maint / Mgmt: −$318
• Net cashflow: $-534/mo
• Annual: $-6,412/yr
• Cap rate: 3.96%
• Cash-on-cash: -8.33%
• DSCR: 0.63
• 1% rule: 0.55%
• Cash to close: $76,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $275k. Condition is rated good.
• At list price, monthly cash flow is $-534 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (34.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (45.0% below list).
• It's been on market 29 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $151k (45.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Mustang (suburban): math 35% / reading 33% proficiency, ranked #28 of 270 in OK (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mustang Lakehoma Es (math 48% / reading 40%, grade F, #73 of 845 statewide, top 9%, 673 students, 0% FRL); Mustang Hs (math 28% / reading 39%, grade F, #65 of 447 statewide, top 14%, 3,756 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.3%/yr); 512 active listings in the ZIP; solid renter incomes; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1965 — 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 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?
• 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.