804 NW Tyler Ave

Piedmont, OK 73078

$225,000D+

3 bd · 2.0 ba · 1,422 sqft · Built 1975 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,859/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $34/mo
• Annual: $407/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.65%
• DSCR: 1.03
• 1% rule: 0.83%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $34 ($407/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 $186k (17.4% below list).
• It's been on market 26 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (17.4% 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 $7k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#8 in OK, #2,866 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Piedmont (rural): math 37% / reading 39% proficiency, ranked #9 of 270 in OK (top 3%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Piedmont Es (math 52% / reading 37%, grade F, #63 of 845 statewide, top 8%, 458 students, 0% FRL); Piedmont Hs (math 38% / reading 44%, grade F, #24 of 447 statewide, top 5%, 1,422 students, 0% FRL).
• Market conditions: 494 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.
• Current owner paid $128k; list at $225k implies a 76% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 3.3% in Piedmont — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1975 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.