1505 Crestview Dr

New Cordell, OK 73632

$90,000B-

2 bd · 2.0 ba · 1,443 sqft · Built 1979 · Townhouse · Active · 60 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,058/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $279/mo
• Annual: $3,346/yr
• Cap rate: 10.01%
• Cash-on-cash: 13.28%
• DSCR: 1.59
• 1% rule: 1.18%
• Cash to close: $25,200

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $90k.
• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 60 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#335 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Cordell (town): math 37% / reading 33% proficiency, ranked #33 of 270 in OK (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cordell Es (math 42% / reading 37%, grade F, #107 of 845 statewide, top 14%, 358 students, 0% FRL); Cordell Hs (math 24% / reading 44%, grade F, #48 of 447 statewide, top 14%, 104 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 1 units permitted in Washita County in 2024 (0 in 5+ unit buildings).
• Washita County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.0% vs local median 6.6% in New Cordell — 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

• It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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 D-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.