320 E 17th St

Claremore, OK 74017

$199,900D+

3 bd · 3.0 ba · 1,745 sqft · Built 1969 · SingleFamily · Pending · 77 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,568/mo
• Mortgage (P&I): −$1,048
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$329
• Net cashflow: $38/mo
• Annual: $450/yr
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• 1% rule: 0.78%
• Cash to close: $55,972

Investor read

• This is a 3-bed/3.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $38 ($450/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 $157k (21.5% below list).
• It's been on market 77 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (21.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#20 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment D-.
• Claremore (town): math 24% / reading 25% proficiency, ranked #111 of 270 in OK (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Roosa Es (math 31% / reading 24%, grade F, #308 of 845 statewide, top 37%, 412 students, 0% FRL); Will Rogers Jhs (math 20% / reading 23%, grade F, #146 of 345 statewide, top 43%, 807 students, 0% FRL); Claremore Hs (math 22% / reading 35%, grade F, #121 of 447 statewide, top 27%, 1,285 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.6%/yr); 184 active listings in the ZIP; 608 units permitted in Rogers County in 2024 (7 in 5+ unit buildings).
• Rogers County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $91k; list at $200k implies a 119% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 4.1% in Claremore — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 77 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1969 — 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 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?
• 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.
• 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.