424 S 1st Ave

Fairview, OK 73737

$105,000C-

3 bd · 2.0 ba · 1,075 sqft · Built 1983 · SingleFamily · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $953/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $89/mo
• Annual: $1,073/yr
• Cap rate: 7.31%
• Cash-on-cash: 3.65%
• DSCR: 1.16
• 1% rule: 0.91%
• Cash to close: $29,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $89 ($1k/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 $95k (9.3% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $95k (9.3% below list) — sets the bar for 1% rule.
• In year one you build about $86 of equity ($726 loan paydown + $-640 appreciation (-0.6% local appreciation)).
• Location reads 72/100 on livability (#22 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Fairview (rural): math 34% / reading 35% proficiency, ranked #40 of 270 in OK (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cornelsen Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 377 students, 0% FRL); Fairview Hs (math 34% / reading 34%, grade F, #48 of 447 statewide, top 14%, 211 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 11 active listings in the ZIP; 2 units permitted in Major County in 2024 (0 in 5+ unit buildings).
• Major County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 4y 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 $90k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• 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.

Questions for listing agent

• 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.