172 E2220

Haworth, OK 74740

$115,000C+

4 bd · 2.0 ba · 2,396 sqft · Built 2021 · Other · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,305/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$274
• Net cashflow: $236/mo
• Annual: $2,831/yr
• Cap rate: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• 1% rule: 1.13%
• Cash to close: $32,200

Investor read

• This is a 4-bed/2.0-bath other listed at $115k. Condition is rated fair.
• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• It's been on market 23 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 50/100 on livability (#669 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Haworth (rural): math 12% / reading 22% proficiency, ranked #207 of 270 in OK (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP; 16 units permitted in McCurtain County in 2024 (0 in 5+ unit buildings).
• McCurtain County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image suggests potential roof damage.
• Moderate: exterior siding — The siding shows signs of wear and tear.
• Major: fencing — The fencing is in poor condition and needs repair or replacement.
• Minor: landscaping — The landscaping is simple and could be improved with some additional plants and landscaping features.