805 SW 4th

Lindsay, OK 73052

$59,000B+

2 bd · 1.0 ba · 1,056 sqft · Built 1980 · SingleFamily · Active · 108 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $981/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$70
• HOA: −$0
• Vac / Maint / Mgmt: −$206
• Net cashflow: $395/mo
• Annual: $4,742/yr
• Cap rate: 14.33%
• Cash-on-cash: 28.71%
• DSCR: 2.28
• 1% rule: 1.66%
• Cash to close: $16,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($981 rent vs $59k).
• It's been on market 108 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($408 loan paydown + $4k 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 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: 45 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.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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?
• 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.