9507 Stratford Dr

The Village, OK 73120

$184,900D

3 bd · 1.0 ba · 1,112 sqft · Built 1952 · SingleFamily · Active · 107 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,446/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$227
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $-54/mo
• Annual: $-651/yr
• Cap rate: 5.94%
• Cash-on-cash: -1.26%
• DSCR: 0.94
• 1% rule: 0.78%
• Cash to close: $51,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $-54 ($-651/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (21.8% below list).
• It's been on market 107 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (21.8% 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 77/100 on livability (#9 in OK, #3,145 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities D-, commute F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ridgeview Es (math 17% / reading 22%, grade F, #479 of 845 statewide, top 63%, 395 students, 0% FRL); Classen Ms of Advanced Studies (math 35% / reading 46%, grade F, #6 of 345 statewide, top 1%, 855 students, 0% FRL); Southeast Hs (math 8% / reading 17%, grade F, #355 of 447 statewide, top 80%, 854 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 24% at this address vs 8% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Oklahoma City average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.0%/yr); 338 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $113k; list at $185k implies a 64% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.4% in The Village — 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 107 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.