502 Grand Sycamore Dr

Washington, OK 73093

$258,000D-

3 bd · 2.0 ba · 1,340 sqft · Built 2025 · Other · Active · 282 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,004/mo
• Mortgage (P&I): −$1,353
• Tax + insurance: −$430
• HOA: −$17
• Vac / Maint / Mgmt: −$421
• Net cashflow: $-217/mo
• Annual: $-2,601/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.60%
• DSCR: 0.84
• 1% rule: 0.78%
• Cash to close: $72,240

Investor read

• This is a 3-bed/2.0-bath other listed at $258k.
• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (22.3% below list).
• It's been on market 282 days — a 12% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (22.3% below list) — sets the bar for 1% rule.
• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (2.6% local appreciation)).
• Location reads 66/100 on livability (#101 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Washington (rural): math 38% / reading 37% proficiency, ranked #20 of 270 in OK (top 7%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Es (math 43% / reading 43%, grade F, #80 of 845 statewide, top 10%, 565 students, 0% FRL); Washington Ms (math 36% / reading 30%, grade F, #35 of 345 statewide, top 10%, 279 students, 0% FRL); Washington Hs (math 32% / reading 37%, grade F, #48 of 447 statewide, top 14%, 353 students, 0% FRL) — zoned schools average 0% FRL vs 23% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 107 active listings in the ZIP; 334 units permitted in McClain County in 2024 (0 in 5+ unit buildings).
• McClain County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 5, paydown + projected appreciation supports a ~$37k 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 282 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.