606 N Forest Ave

Keota, OK 74941

$149,000D

3 bd · 2.0 ba · 2,396 sqft · Built 1965 · SingleFamily · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,178/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $-13/mo
• Annual: $-154/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• 1% rule: 0.79%
• Cash to close: $41,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $-13 ($-154/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (20.9% below list).
• It's been on market 50 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (20.9% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#515 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Keota (rural): math 16% / reading 11% proficiency, ranked #242 of 270 in OK (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Keota Es (math 17% / reading 12%, grade F, #604 of 845 statewide, top 76%, 301 students, 0% FRL); Keota Hs (math 10% / reading 10%, grade F, #361 of 447 statewide, top 94%, 108 students, 0% FRL) — zoned schools average 0% FRL vs 74% district-wide (74 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 10 units permitted in Haskell County in 2024 (0 in 5+ unit buildings).
• Haskell County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 6y 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 $123k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.