701 S Grand St · Mill Creek, OK 74856

$65,000

2 bd · 2.0 ba · 1,107 sqft · SingleFamily public records · 48 Days on market

Built 1975 3.93 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0

Listing remarks

Two adjoining lots being sold together, offering more than 3.5+ acres of opportunity, This property provides a versatile layout with utilities available in at least two ends of the property. This could make it ideal for future development, multiple homesites, or even investment potential. This amazing location is within walking distance to the Mill Creek schools. No known restrictions are on these properties. One lot includes an existing brick home that is being sold as-is, and the opposite end of the property has a building/shed, also selling as-is. The structure at 701 has sustained damage due to a fallen tree, however home may be repairable if the new owner desires. Whether you are looki

Key facts

• Versatile layout
• Utilities available
• Existing brick home

Tags

• MORE THAN 3.5 ACRES
• VERSATILE LAYOUT
• UTILITIES AVAILABLE
• WALKING DISTANCE TO SCHOOLS
• NO KNOWN RESTRICTIONS
• EXISTING BRICK HOME

Property features AI

Finance

• Other: Lot is approximately 3.934 acres; Additional land available; Mature trees; Wooded

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Phone service available; Public water; Public sewer
• Home design: Single-story; Faces east; Slab foundation
• Construction: Brick and wood frame construction; Asphalt/fiberglass roof
• Exterior features: Patio; Porch; Shed(s); No other exterior features listed

Interior

• Kitchen: Oven; Range
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Aluminum window frames; Laminate counters; No additional interior features listed
• Laundry & utility: No hot water (listed as appliance)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#490 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Mill Creek (rural): math 10% / reading 20% proficiency, ranked #467 of 513 in OK (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Johnston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($449 loan paydown + $3k appreciation (4.6% local appreciation)).
• At projected returns (4.6% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $22k; list at $65k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.50% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.03%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.6% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.1%
• Equity multiple: 3.02×
• Total profit: $36,712
• Equity at exit: $35,273

10-year hold

• IRR: 31.9%
• Equity multiple: 6.03×
• Total profit: $91,627
• Equity at exit: $59,622

Cash invested: $18,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 74856

• Home prices YoY: 1.7%
• Active inventory: 1
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$36 /mo · $427/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $364

Break-even live

Break-even rent $511

Max offer price $65,000

Occupancy floor 58%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $65,000 Active 48 DOM
2. 2026-06-17
   days on market $65,000 Active 47 DOM
3. 2026-06-16
   days on market $65,000 Active 46 DOM
4. 2026-06-15
   days on market $65,000 Active 45 DOM
5. 2026-06-13
   days on market $65,000 Active 43 DOM
6. 2026-06-12
   days on market $65,000 Active 42 DOM
7. 2026-06-09
   days on market $65,000 Active 39 DOM
8. 2026-06-08
   days on market $65,000 Active 38 DOM
9. 2026-06-08
   days on market $65,000 Active 37 DOM
10. 2026-06-05
    days on market $65,000 Active 35 DOM
11. 2026-06-04
    days on market $65,000 Active 33 DOM
12. 2026-06-02
    days on market $65,000 Active 32 DOM
13. 2026-06-01
    days on market $65,000 Active 31 DOM
14. 2026-05-31
    days on market $65,000 Active 30 DOM
15. 2026-05-01
    listed $65,000 Active
16. 2024-06-10
    historical
17. 2024-05-02
    price $80,000
18. 2024-01-04
    listed $100,000 Active
19. 1998-09-18
    soldstatus $22,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $427 · $36/mo
• Projected year-2 tax: $585 · $49/mo
• Expected delta: +$158/yr (+$13/mo · 37.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,666
• − Mortgage interest: −$3,641
• − Property taxes: −$427
• − Insurance: −$325
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$1,891
• Taxable income: $3,515
• Est. tax owed @ 24.0%: −$844
• After-tax cash flow: $3,530/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mill Creek
• NCES district ID: 4020040
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $41,049
• Composite: 16.34/100
• National rank: #14261
• State rank: #467 of 513 in OK

Livability — Mill Creek

• Score: 57/100
• State rank: #490
• US rank: #22260

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mill Creek, OK
• Population (ZIP): 794

Population outlook (Johnston County) Hauer SSP2

• Today (2025): 11,201 people
• By 2030: 11,244 · +0.4%
• By 2040: 11,212 · +0.1%
• By 2050: 10,993 · -1.9%
• By 2075: 10,708 · -4.4%
• By 2100: 10,764 · -3.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 13% Native American 12% Hispanic / Latino 3%
• Common ancestry: Lithuanian 4% Portuguese 4% European 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Johnston

• 2024 margin: Solid R (+65.7) · D 16.2% · R 81.8% · Other 2.0%
• 2008→2024 swing: -28.8pp toward R · 2008: -36.9pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+63.6 2016: R+57.5 2012: R+40.0 2008: R+36.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.60%
• Current HPI: 279.6707
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+195.5% since first listed

5 events — show timeline

• 2026-05-01 Listed $65,000 MLS Technology, Inc.
• 2024-06-10 Listing Removed — MLSOK
• 2024-05-02 Price Changed $80,000 MLSOK
• 2024-01-04 Listed $100,000 MLSOK
• 1998-09-18 Sold (Public Records) $22,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $427 · +4.1% YoY. Source: county tax records.