27419 E County Road 1680 Rd

Katie, OK 73433

$47,000B

3 bd · 2.0 ba · 1,416 sqft · Built 1945 · SingleFamily · Pending · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,197/mo
• Mortgage (P&I): −$246
• Tax + insurance: −$52
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $647/mo
• Annual: $7,769/yr
• Cap rate: 22.82%
• Cash-on-cash: 59.04%
• DSCR: 3.63
• 1% rule: 2.55%
• Cash to close: $13,160

Investor read

• This is a 3-bed/2.0-bath single-family listed at $47k.
• At list price, monthly cash flow is $647 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• It's been on market 53 days — a 3% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($325 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 57/100 on livability (#496 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: employment D, crime F, amenities F.
• Elmore City-Pernell (rural): math 12% / reading 20% proficiency, ranked #210 of 270 in OK (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elmore City-Pernell Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 224 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 51 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.
• Current owner paid $38k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/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 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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?
• 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.