317 W 4th St

Erick, OK 73645

$85,000A-

3 bd · 2.0 ba · 1,792 sqft · Built 1950 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,114/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $359/mo
• Annual: $4,309/yr
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• 1% rule: 1.31%
• Cash to close: $23,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($588 loan paydown + $4k appreciation (4.6% local appreciation)).
• Location reads 63/100 on livability (#218 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime B+, housing B+; Watch: amenities F, commute F, employment F.
• Erick (rural): math 50% / reading 60% proficiency, ranked #19 of 513 in OK (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Erick Es (math 52% / reading 57%, grade C, #23 of 845 statewide, top 3%, 152 students, 0% FRL); Erick Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 57 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.
• Zoned-school proficiency averages 40% at this address vs 55% district-wide (-16 pts) — the specific schools serving this property underperform the Erick average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP; 16 units permitted in Beckham County in 2024 (0 in 5+ unit buildings).
• Beckham County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 10y ago 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.
• Current owner paid $58k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — 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.