1106 E Jasmine Ave

Frederick, OK 73542

$121,000D+

2 bd · 2.0 ba · 1,591 sqft · Built 1980 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,039/mo
• Mortgage (P&I): −$635
• Tax + insurance: −$101
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $85/mo
• Annual: $1,024/yr
• Cap rate: 7.14%
• Cash-on-cash: 3.02%
• DSCR: 1.13
• 1% rule: 0.86%
• Cash to close: $33,880

Investor read

• This is a 2-bed/2.0-bath single-family listed at $121k.
• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (14.1% below list).
• It's been on market 24 days — a 2% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (14.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $837 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#304 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Frederick (town): math 41% / reading 28% proficiency, ranked #46 of 270 in OK (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Frederick Es (math 57% / reading 27%, grade F, #84 of 845 statewide, top 11%, 386 students, 0% FRL); Frederick Ms (math 32% / reading 32%, grade F, #39 of 345 statewide, top 12%, 174 students, 0% FRL); Frederick Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 250 students, 0% FRL) — zoned schools average 0% FRL vs 68% district-wide (68 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP.
• Tillman County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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

• 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?
• Crime grade is D 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.
• 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.