350 SW 4th St

Krebs, OK 74462

$99,000C

3 bd · 2.0 ba · 1,104 sqft · Built 1971 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $964/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$203
• Net cashflow: $78/mo
• Annual: $932/yr
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• 1% rule: 0.97%
• Cash to close: $27,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $78 ($932/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 $96k (2.6% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $96k (2.6% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($684 loan paydown + $4k appreciation (3.8% local appreciation)).
• Location reads 61/100 on livability (#294 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Krebs (town): math 25% / reading 26% proficiency, ranked #99 of 270 in OK (top 37%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 138 active listings in the ZIP; 46 units permitted in Pittsburg County in 2024 (0 in 5+ unit buildings).
• Pittsburg County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1971 — 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?
• 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.