Rc Everly Plan

Oklahoma City, OK 73064

$195,400F

2 bd · 2.0 ba · 1,114 sqft · Built — · SingleFamily · Active · 120 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,628/mo
• Mortgage (P&I): −$1,126
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$342
• Net cashflow: $-197/mo
• Annual: $-2,369/yr
• Cap rate: 5.19%
• Cash-on-cash: -3.94%
• DSCR: 0.82
• 1% rule: 0.76%
• Cash to close: $60,097

Investor read

• This is a 2-bed/2.0-bath single-family listed at $195k. Condition is rated good.
• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (16.7% below list).
• It's been on market 120 days — a 9% lower offer ($178k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (16.7% 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 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Mustang (suburban): math 35% / reading 33% proficiency, ranked #28 of 270 in OK (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mustang Centennial Es (math 46% / reading 42%, grade F, #73 of 845 statewide, top 9%, 643 students, 0% FRL); Canyon Ridge Ies (math 43% / reading 36%, grade F, #8 of 345 statewide, top 2%, 749 students, 0% FRL); Mustang Hs (math 28% / reading 39%, grade F, #65 of 447 statewide, top 14%, 3,756 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.3%/yr); 765 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.2% vs local median 3.9% in Oklahoma City — 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

• 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 120 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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.