307 SW Burt St

Minco, OK 73059

$105,000C-

2 bd · 1.0 ba · 1,491 sqft · Built 1940 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $750/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$158
• Net cashflow: $-51/mo
• Annual: $-613/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.08%
• DSCR: 0.91
• 1% rule: 0.71%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $-51 ($-613/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $75k (28.6% below list).
• It's been on market 84 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (28.6% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (9.9% local appreciation)).
• Location reads 61/100 on livability (#290 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: employment D+, amenities F, commute F.
• Minco (rural): math 22% / reading 32% proficiency, ranked #81 of 270 in OK (top 30%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Minco Es (math 22% / reading 32%, grade F, #311 of 845 statewide, top 40%, 245 students, 0% FRL); Minco Ms (math 22% / reading 32%, grade F, #72 of 345 statewide, top 22%, 131 students, 0% FRL); Minco Hs (math 24% / reading 34%, grade F, #96 of 447 statewide, top 26%, 187 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 224 units permitted in Grady County in 2024 (0 in 5+ unit buildings).
• Grady County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $32k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $105k implies a 483% gain — meaningful room to come down on a strong offer.
• At projected returns (9.9% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

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 84 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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 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.