314 N Main St

Thomas, OK 73669

$63,500B

2 bd · 1.0 ba · 832 sqft · Built 1940 · SingleFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $852/mo
• Mortgage (P&I): −$333
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $295/mo
• Annual: $3,539/yr
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• 1% rule: 1.34%
• Cash to close: $17,780

Investor read

• This is a 2-bed/1.0-bath single-family listed at $64k.
• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($852 rent vs $64k).
• It's been on market 54 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($439 loan paydown + $1k appreciation (1.7% local appreciation)).
• Location reads 65/100 on livability (#142 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Thomas-Fay-Custer Unified District (rural): math 41% / reading 40% proficiency, ranked #18 of 270 in OK (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thomas Es (math 57% / reading 42%, grade D, #42 of 845 statewide, top 5%, 260 students, 0% FRL); Thomas-Fay-Custer Unified Hs (math 30% / reading 50%, grade F, #25 of 447 statewide, top 8%, 93 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 14 active listings in the ZIP; 28 units permitted in Custer County in 2024 (5 in 5+ unit buildings).
• Custer County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $24k; list at $64k implies a 170% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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.
• 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.