29279 S 27th St

Porum, OK 74455

$69,000B

3 bd · 2.0 ba · 1,280 sqft · Built 1980 · Manufactured · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,053/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $355/mo
• Annual: $4,258/yr
• Cap rate: 12.46%
• Cash-on-cash: 22.04%
• DSCR: 1.98
• 1% rule: 1.53%
• Cash to close: $19,320

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $69k.
• At list price, monthly cash flow is $355 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• It's been on market 103 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($477 loan paydown + $5k appreciation (6.6% local appreciation)).
• Location reads 62/100 on livability (#240 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Porum (rural): math 19% / reading 24% proficiency, ranked #172 of 270 in OK (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 129 active listings in the ZIP; 58 units permitted in Muskogee County in 2024 (0 in 5+ unit buildings).
• Muskogee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $6k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.