1104 Juno Cir

Edmond, OK 73003

$90,000B

3 bd · 2.0 ba · 1,345 sqft · Built 1976 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,708/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $686/mo
• Annual: $8,229/yr
• Cap rate: 15.44%
• Cash-on-cash: 32.65%
• DSCR: 2.45
• 1% rule: 1.90%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#6 in OK, #2,383 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety C-, commute F.
• Edmond (suburban): math 38% / reading 40% proficiency, ranked #11 of 270 in OK (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sunset Es (math 18% / reading 18%, grade F, #534 of 845 statewide, top 64%, 670 students, 0% FRL); Santa Fe Hs (math 36% / reading 52%, grade F, #18 of 447 statewide, top 4%, 2,796 students, 0% FRL) — zoned schools average 0% FRL vs 22% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.9%/yr); 215 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 10y 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.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• 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.
• Cap rate 15.4% vs local median 3.4% in Edmond — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.