508 N Elm

Granite, OK 73547

$77,500B-

3 bd · 1.0 ba · 898 sqft · Built 1925 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,055/mo
• Mortgage (P&I): −$406
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$221
• Net cashflow: $298/mo
• Annual: $3,570/yr
• Cap rate: 10.90%
• Cash-on-cash: 16.45%
• DSCR: 1.73
• 1% rule: 1.36%
• Cash to close: $21,700

Investor read

• This is a 3-bed/1.0-bath single-family listed at $78k. Condition is rated good.
• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• It's been on market 55 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($536 loan paydown + $1k appreciation (1.7% local appreciation)).
• Location reads 66/100 on livability (#119 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Granite (rural): math 60% / reading 50% proficiency, ranked #17 of 513 in OK (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Granite Es (math 17% / reading 27%, grade F, #413 of 845 statewide, top 54%, 158 students, 0% FRL); Granite Hs (math 24% / reading 24%, grade F, #150 of 447 statewide, top 48%, 78 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 23% at this address vs 55% district-wide (-32 pts) — the specific schools serving this property underperform the Granite average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP.
• Greer County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1925 — 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — Older cabinets need updating
• Moderate: backsplash — Dated backsplash needs replacement