24182 State Highway 76 Hwy

Ratliff City, OK 73481

$49,900B-

3 bd · 2.0 ba · 1,524 sqft · Built 1979 · SingleFamily · Pending · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,113/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $510/mo
• Annual: $6,121/yr
• Cap rate: 18.56%
• Cash-on-cash: 43.81%
• DSCR: 2.95
• 1% rule: 2.23%
• Cash to close: $13,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $510 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 137 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($345 loan paydown + $2k appreciation (3.3% local appreciation)).
• Location reads 52/100 on livability (#634 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Fox (rural): math 20% / reading 20% proficiency, ranked #408 of 513 in OK (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fox Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 124 students, 0% FRL); Fox Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 49 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 10 active listings in the ZIP; 73 units permitted in Carter County in 2024 (0 in 5+ unit buildings).
• Carter County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $14k 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 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1979 — 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?
• 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.