24901 S Deer Valley Rd

Bernice, OK 74331

$94,500C

1 bd · 2.0 ba · 960 sqft · Built 2021 · Other · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $850/mo
• Mortgage (P&I): −$496
• Tax + insurance: −$66
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $109/mo
• Annual: $1,312/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• 1% rule: 0.90%
• Cash to close: $26,460

Investor read

• This is a 1-bed/2.0-bath other listed at $94k.
• At list price, monthly cash flow is $109 ($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 $85k (10.1% below list).
• It's been on market 43 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (10.1% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($653 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 60/100 on livability (#346 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Grove (town): math 26% / reading 31% proficiency, ranked #77 of 270 in OK (top 28%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grove Lower Es (math 37% / reading 37%, grade F, #132 of 845 statewide, top 19%, 848 students, 0% FRL); Grove Ms (math 27% / reading 28%, grade F, #68 of 345 statewide, top 20%, 391 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 146 active listings in the ZIP; 51 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).
• Delaware County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $94k implies a 845% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/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 43 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• 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?
• 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.