511 W Cemetery Rd

Oktaha, OK 74450

$174,900D-

3 bd · 2.0 ba · 1,248 sqft · Built 2010 · SingleFamily · Pending · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,037/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$174
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $-273/mo
• Annual: $-3,271/yr
• Cap rate: 4.42%
• Cash-on-cash: -6.68%
• DSCR: 0.70
• 1% rule: 0.59%
• Cash to close: $48,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $-273 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (27.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (40.7% below list).
• It's been on market 57 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (40.7% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 56/100 on livability (#521 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Oktaha (rural): math 19% / reading 23% proficiency, ranked #152 of 270 in OK (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 12 active listings in the ZIP; 58 units permitted in Muskogee County in 2024 (0 in 5+ unit buildings).
• Muskogee County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 57 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.
• 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.