615 N Jackson Ave

Blanchard, OK 73010

$154,900C+

3 bd · 1.0 ba · 1,005 sqft · Built 2000 · SingleFamily · Under Contract · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,447/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $204/mo
• Annual: $2,453/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• 1% rule: 0.93%
• Cash to close: $43,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $204 ($2k/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 $145k (6.6% below list).
• It's been on market 34 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (6.6% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($1k loan paydown + $2k appreciation (1.4% local appreciation)).
• Location reads 69/100 on livability (#47 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Blanchard (rural): math 39% / reading 41% proficiency, ranked #13 of 270 in OK (top 5%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 507 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 334 units permitted in McClain County in 2024 (0 in 5+ unit buildings).
• McClain County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 2.6% in Blanchard — 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 34 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• 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.