5364 W Cove Dr · Westport, OK 74081

$147,500

2 bd · 1.0 ba · 1,456 sqft · Manufactured public records · 61 Days on market

Built 1970 0.38 ac lot Est $137k · 8% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.1/30.0
• Appreciation +5.0/10.0
• ARV discount +4.0/15.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks

Nestled in a quiet lakeside neighborhood near Keystone Lake, this newly refurbished 3-bedroom home offers comfort, charm, and easy living. Inside, you’ll find fresh interior paint, brand-new carpet, and a cozy woodburning fireplace that anchors the inviting living space. The open kitchen and dining area provide a functional layout for everyday living and entertaining. Step outside to enjoy a circle drive, spacious deck, and paved areas—perfect for relaxing or hosting gatherings—along with a privacy-fenced backyard for added seclusion. The property also includes a 1-car garage with room for shelving and an additional carport for extra parking. Residents of this peaceful com

Key facts

• Newly refurbished
• Brand new carpet
• Fresh interior paint

Tags

• LAKESIDE NEIGHBORHOOD
• NEWLY REFURBISHED
• FRESH INTERIOR PAINT
• BRAND NEW CARPET
• WOODBURNING FIREPLACE
• OPEN KITCHEN

Property features AI

Finance

• HOA & community: Community features include gutters, marina access, and sidewalks

Exterior

• Parking: Detached garage with shelving (1-car)
• Security: Smoke detectors; No safety shelter
• Utilities: Electricity available; Water available (rural); Septic tank sewer; Cable available; Fiber optic available; Phone available
• Home design: Double wide manufactured home; Single-story; Faces east; Crawlspace / permanent foundation
• Construction: Vinyl siding construction; Asphalt/fiberglass roof
• Exterior features: Covered porch, deck and patio; Gravel driveway; Rain gutters; Shed(s) and workshop; Chain link and partial privacy fencing; Mature trees and wooded lot; Boat ramp/lift access and water access to Keystone Lake

Interior

• Kitchen: Eat-in kitchen with breakfast nook; Oven; Range; Stove; Microwave; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom with private bath and walk-in closet (first floor); Additional bedrooms on the first floor
• Flooring: Carpet; Laminate; Tile
• Bathrooms: Two full bathrooms (including a master bath with bathtub)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Laminate counters; Electric oven connection; Aluminum and wood framed insulated casement windows; Fireplace (wood burning)
• Laundry & utility: Washer hookup; Electric dryer hookup; Inside utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $148k.

Deal economics

• At list price, monthly cash flow is $-58 ($-697/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (17.5% below list).
• Recommended offer: $122k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.6% in Westport — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 62/100 on livability (#266 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D, amenities F, commute F.
• Mannford (town): math 25% / reading 22% proficiency, ranked #125 of 270 in OK (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 23 active listings in the ZIP; 3 units permitted in Pawnee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($1k loan paydown + $4k appreciation (3.0% local appreciation)).
• Pawnee County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $65k; list at $148k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,680 (17.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.69%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $136,864
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57809 S Highway 48 Hwy	0.48mi	3/2.0 (+1)	1,440 (-1%)	17mo	$135,000	$94	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.9%
• Equity multiple: 1.34×
• Total profit: $14,089
• Equity at exit: $66,322

10-year hold

• IRR: 8.9%
• Equity multiple: 2.34×
• Total profit: $55,385
• Equity at exit: $102,211

Cash invested: $41,300 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 74081

• Active inventory: 23
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$774
• Tax est. 1.5%: −$184 /mo · $2,212/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-58

Break-even live

Break-even rent $1,290

Max offer price $139,098

Occupancy floor 100%

Sensitivity live

Price	-10% $44	-5% $-7	+0% $-58	+5% $-109	+10% $-160
Rent	-10% $-154	-5% $-106	+0% $-58	+5% $-10	+10% $38
Rate	-1.0pp $16	-0.5pp $-21	base $-58	+0.5pp $-96	+1.0pp $-135

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $147,500 Active 61 DOM
2. 2026-06-17
   days on market $147,500 Active 60 DOM
3. 2026-06-16
   days on market $147,500 Active 59 DOM
4. 2026-06-15
   days on market $147,500 Active 58 DOM
5. 2026-06-13
   days on market $147,500 Active 56 DOM
6. 2026-06-10
   days on market $147,500 Active 53 DOM
7. 2026-06-09
   days on market $147,500 Active 52 DOM
8. 2026-06-08
   days on market $147,500 Active 51 DOM
9. 2026-06-07
   days on market $147,500 Active 50 DOM
10. 2026-06-03
    days on market $147,500 Active 46 DOM
11. 2026-06-02
    days on market $147,500 Active 45 DOM
12. 2026-06-01
    days on market $147,500 Active 44 DOM
13. 2026-05-31
    days on market $147,500 Active 43 DOM
14. 2026-04-17
    listed $147,500 Active
15. 2025-03-08
    historical
16. 2025-01-18
    price $128,500
17. 2024-12-19
    listed $130,000 Active
18. 2024-01-05
    historical
19. 2023-11-29
    price $149,500
20. 2023-11-16
    price $152,000
21. 2023-10-25
    price $157,000
22. 2023-10-12
    price $164,000
23. 2023-09-23
    listed $174,000 Active
24. 2021-12-27
    soldstatus $65,000
25. 2021-12-14
    soldstatus $65,000 Closed
26. 2021-10-25
    status Pending
27. 2021-10-11
    listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,602
• − Mortgage interest: −$8,262
• − Property taxes: −$2,212
• − Insurance: −$738
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$4,291
• Taxable loss: −$3,238
• Est. tax savings @ 24.0%: +$777
• After-tax cash flow: $80/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mannford
• NCES district ID: 4018840
• Math proficiency: 25% ▼ -16.00%
• Reading proficiency: 22% ▼ -15.00%
• Median HH income: $47,044
• Composite: 20.55/100
• National rank: #8561
• State rank: #125 of 270 in OK

Livability — Westport

• Score: 62/100
• State rank: #266
• US rank: #17069

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment B+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,008

Population outlook (Pawnee County) Hauer SSP2

• Today (2025): 16,219 people
• By 2030: 16,028 · -1.2%
• By 2040: 15,724 · -3.1%
• By 2050: 15,563 · -4.0%
• By 2075: 15,905 · -1.9%
• By 2100: 16,058 · -1.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Native American 6%
• Common ancestry: Slovak 2% Scottish 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Pawnee

• 2024 margin: Solid R (+58.9) · D 19.7% · R 78.6% · Other 1.7%
• 2008→2024 swing: -21.4pp toward R · 2008: -37.4pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+57.5 2016: R+53.2 2012: R+40.0 2008: R+37.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+96.7% since first listed

14 events — show timeline

• 2026-04-17 Listed $147,500 MLS Technology, Inc.
• 2025-03-08 Listing Removed — MLS Technology, Inc.
• 2025-01-18 Price Changed $128,500 MLS Technology, Inc.
• 2024-12-19 Listed $130,000 MLS Technology, Inc.
• 2024-01-05 Listing Removed — MLS Technology, Inc.
• 2023-11-29 Price Changed $149,500 MLS Technology, Inc.
• 2023-11-16 Price Changed $152,000 MLS Technology, Inc.
• 2023-10-25 Price Changed $157,000 MLS Technology, Inc.
• 2023-10-12 Price Changed $164,000 MLS Technology, Inc.
• 2023-09-23 Listed $174,000 MLS Technology, Inc.
• 2021-12-27 Sold (Public Records) $65,000 Public Records
• 2021-12-14 Sold (MLS) $65,000 MLS Technology, Inc.
• 2021-10-25 Pending — MLS Technology, Inc.
• 2021-10-11 Listed $75,000 MLS Technology, Inc.

Property tax history

+6.8%/yr

Latest (2025): $277 · +5.3% YoY. Source: county tax records.