409 Olive Blvd

Lindsay, OK 73052

$140,000D-

3 bd · 2.0 ba · 1,488 sqft · Built 1974 · SingleFamily · Pending · 227 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,094/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$171
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $-40/mo
• Annual: $-484/yr
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• 1% rule: 0.78%
• Cash to close: $39,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-40 ($-484/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (21.8% below list).
• It's been on market 227 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (21.8% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($968 loan paydown + $10k appreciation (7.2% local appreciation)).
• Location reads 59/100 on livability (#380 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Lindsay (town): math 21% / reading 24% proficiency, ranked #141 of 270 in OK (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lindsay Es (math 25% / reading 24%, grade F, #354 of 845 statewide, top 47%, 606 students, 0% FRL); Lindsay Ms (math 20% / reading 23%, grade F, #146 of 345 statewide, top 43%, 234 students, 0% FRL); Lindsay Hs (math 12% / reading 22%, grade F, #314 of 447 statewide, top 72%, 324 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 46 active listings in the ZIP; 1 units permitted in Garvin County in 2024 (0 in 5+ unit buildings).
• Garvin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 227 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.