28180 E 12th St · Fair Oaks, OK 74015

$69,900

3 bd · 3.0 ba · 1,944 sqft · Manufactured · 82 Days on market

Built 1998 Poor condition 1.50 ac lot ↓ 23% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Appreciation +1.8/10.0
• Schools +1.5/10.0
• Condition / age +1.0/5.0

Listing remarks

Great opportunity for investors or buyers looking for their next renovation project. This spacious 3-bedroom, 3-bath double-wide mobile home sits on approximately 1.5 acres in a quiet setting surrounded by mature trees. The home features a large covered front porch and a versatile floor plan with multiple living areas, offering flexibility for both everyday living and entertaining. Bedrooms are generously sized, with potential to convert an additional living area into a 4th bedroom. Property does require repairs and is being sold as-is, but offers strong upside for those willing to put in the work. With land, space, and layout already in place, this is a great value-add opportunity for resa

Key facts

• Covered front porch
• Mature trees
• 1.5 acre lot

Tags

• COVERED FRONT PORCH
• MULTIPLE LIVING AREAS
• MATURE TREES

Property features AI

Exterior

• Security: No safety shelter
• Utilities: Rural water
• Home design: Manufactured home (double wide); Single-story; Faces north; Tie-down foundation
• Construction: Manufactured construction with vinyl siding; Asphalt/fiberglass roof
• Exterior features: Covered patio and porch; Porch; Mature trees on the lot; No other exterior features listed

Interior

• Kitchen: Range
• Flooring: Carpet; Laminate
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating with multiple heating units; Multiple cooling units
• Interior features: Aluminum frame windows; Laminate countertops; No additional interior features listed

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#435 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime C-, schools F, amenities F.
• Catoosa (suburban): math 15% / reading 18% proficiency, ranked #195 of 270 in OK (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 76 active listings in the ZIP; 581 units permitted in Wagoner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wagoner County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.93% ✓
• Cap rate: 16.27%
• Cash-on-cash: 35.62%
• DSCR: 2.59
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $266,328
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28290 E 11th St	0.13mi	4/2.5 (+1)	1,792 (-8%)	1mo	$245,000	$137	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 2.31×
• Total profit: $25,698
• Equity at exit: $10,422

10-year hold

• IRR: 38.4%
• Equity multiple: 4.58×
• Total profit: $70,109
• Equity at exit: $6,044

Cash invested: $19,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 74015

• Home prices YoY: -2.0%
• Active inventory: 76
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $581

Break-even live

Break-even rent $611

Max offer price $69,900

Occupancy floor 52%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $69,900 Active 82 DOM
2. 2026-06-17
   days on market $69,900 Active 81 DOM
3. 2026-06-16
   days on market $69,900 Active 80 DOM
4. 2026-06-15
   days on market $69,900 Active 79 DOM
5. 2026-06-13
   days on market $69,900 Active 77 DOM
6. 2026-06-13
   pricedays on market $69,900 Active 76 DOM
7. 2026-06-10
   days on market $74,900 Active 74 DOM
8. 2026-06-09
   days on market $74,900 Active 73 DOM
9. 2026-06-08
   days on market $74,900 Active 72 DOM
10. 2026-06-07
    days on market $74,900 Active 71 DOM
11. 2026-06-03
    days on market $74,900 Active 67 DOM
12. 2026-06-02
    days on market $74,900 Active 66 DOM
13. 2026-06-01
    days on market $74,900 Active 65 DOM
14. 2026-05-31
    days on market $74,900 Active 64 DOM
15. 2026-05-05
    price $74,900
16. 2026-03-27
    listed $84,900 Active
17. 2025-05-19
    historical
18. 2025-05-06
    status Active
19. 2025-04-26
    status Pending
20. 2025-04-17
    listed $97,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,163
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$2,033
• Taxable income: $6,230
• Est. tax owed @ 24.0%: −$1,495
• After-tax cash flow: $5,477/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This mobile home requires extensive repairs and maintenance, including exterior painting, landscaping, and interior updates. Significant value can be added through these improvements.

Repairs flagged

• Major siding — Weathered and missing
• Major trim — Missing and damaged
• Major flooring — Dirty and worn
• Major paint — Peeling and damaged
• Major landscaping — Overgrown and debris

Value-add opportunities

• Both exterior painting — Enhances curb appeal and value
• Both landscaping — Improves curb appeal and value
• Both interior painting — Enhances interior appearance and value
• Both flooring replacement — Improves functionality and value
• Both roof inspection — Ensures structural integrity and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Weathered and missing	Major	$15,000–50,000
trim · Missing and damaged	Major	$15,000–50,000
flooring · Dirty and worn	Major	$15,000–50,000
paint · Peeling and damaged	Major	$15,000–50,000
landscaping · Overgrown and debris	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior painting — Enhances curb appeal and value ↑
• Both landscaping — Improves curb appeal and value ↑
• Both interior painting — Enhances interior appearance and value ↑
• Both flooring replacement — Improves functionality and value ↑
• Both roof inspection — Ensures structural integrity and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Catoosa
• NCES district ID: 4006870
• Math proficiency: 15% ▼ -12.00%
• Reading proficiency: 18% ▼ -8.00%
• Median HH income: $52,968
• Composite: 15.29/100
• National rank: #9330
• State rank: #195 of 270 in OK

Livability — Fair Oaks

• Score: 58/100
• State rank: #435
• US rank: #21220

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment C+ Housing B Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,653

Population outlook (Wagoner County) Hauer SSP2

• Today (2025): 84,796 people
• By 2030: 88,162 · +4.0%
• By 2040: 93,882 · +10.7%
• By 2050: 98,219 · +15.8%
• By 2075: 106,561 · +25.7%
• By 2100: 109,360 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 63% Two or more races 17% Native American 12% Hispanic / Latino 11% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 9% Other Asian/Pacific 2%

Political lean MEDSL · Wagoner

• 2024 margin: Solid R (+49.8) · D 24.2% · R 74.0% · Other 1.8%
• 2008→2024 swing: -8.0pp toward R · 2008: -41.8pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+50.1 2016: R+52.0 2012: R+45.7 2008: R+41.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.46%
• Current HPI: 310.9
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

-23.2% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $74,900 MLS Technology, Inc.
• 2026-03-27 Listed $84,900 MLS Technology, Inc.
• 2025-05-19 Listing Removed — MLS Technology, Inc.
• 2025-05-06 Relisted — MLS Technology, Inc.
• 2025-04-26 Pending — MLS Technology, Inc.
• 2025-04-17 Listed $97,500 MLS Technology, Inc.