902 Roosevelt

Durant, OK 74701

$86,000B+

3 bd · 1.0 ba · 1,309 sqft · Built 1969 · SingleFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,367/mo
• Mortgage (P&I): −$451
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $521/mo
• Annual: $6,254/yr
• Cap rate: 13.57%
• Cash-on-cash: 25.97%
• DSCR: 2.16
• 1% rule: 1.59%
• Cash to close: $24,080

Investor read

• This is a 3-bed/1.0-bath single-family listed at $86k.
• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• It's been on market 88 days — a 6% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $595 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#262 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, amenities F.
• Durant (town): math 30% / reading 37% proficiency, ranked #49 of 270 in OK (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Irving Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 435 students, 0% FRL); Durant Intermediate Es (math 24% / reading 36%, grade F, #49 of 345 statewide, top 15%, 615 students, 0% FRL); Durant Hs (math 22% / reading 32%, grade F, #125 of 447 statewide, top 31%, 956 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.1%/yr); 311 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 176 units permitted in Bryan County in 2024 (80 in 5+ unit buildings).
• Bryan County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.6% vs local median 3.1% in Durant — 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

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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.