211 Jordan St

Claremore, OK 74017

$100,000C-

1 bd · 1.0 ba · 212 sqft · Built 1928 · Townhouse · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,004/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $176/mo
• Annual: $2,110/yr
• Cap rate: 8.40%
• Cash-on-cash: 7.54%
• DSCR: 1.34
• 1% rule: 1.00%
• Cash to close: $28,000

Investor read

• This is a 1-bed/1.0-bath townhouse listed at $100k.
• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#20 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: schools D, amenities F, commute F.
• Claremore (town): math 24% / reading 25% proficiency, ranked #111 of 270 in OK (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.6%/yr); 181 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 608 units permitted in Rogers County in 2024 (7 in 5+ unit buildings).
• Rogers County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 21y 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.
• Current owner paid $50k; list at $100k implies a 100% gain — meaningful room to come down on a strong offer.
• Cap rate 8.4% vs local median 4.1% in Claremore — 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

• Built in 1928 — 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.