359 S Hardy

Caney, OK 74533

$95,000B

2 bd · 2.0 ba · 1,344 sqft · Built 1997 · Manufactured · Active · 94 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,112/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$88
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $292/mo
• Annual: $3,507/yr
• Cap rate: 9.98%
• Cash-on-cash: 13.18%
• DSCR: 1.59
• 1% rule: 1.17%
• Cash to close: $26,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $95k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 94 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($657 loan paydown + $4k appreciation (4.2% local appreciation)).
• Location reads 61/100 on livability (#317 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.
• Caney (rural): math 40% / reading 30% proficiency, ranked #179 of 513 in OK (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 11 active listings in the ZIP.
• Atoka County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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

• It's been on market 94 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 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.