59056 S 4695 Rd

Dripping Springs, OK 74964

$255,000B+

3 bd · 2.0 ba · 1,904 sqft · Built 2021 · Manufactured · Pending · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,857/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$1,020
• Net cashflow: $2,336/mo
• Annual: $28,037/yr
• Cap rate: 17.29%
• Cash-on-cash: 39.27%
• DSCR: 2.75
• 1% rule: 1.90%
• Cash to close: $71,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $255k.
• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $255k).
• It's been on market 156 days — a 12% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $224k (12.0% below list) — sets the bar for market timing.
• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (9.7% local appreciation)).
• Location reads 53/100 on livability (#624 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Moseley (rural): math 20% / reading 20% proficiency, ranked #418 of 513 in OK (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 30 units permitted in Adair County in 2024 (0 in 5+ unit buildings).
• Adair County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 8y 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 $8k; list at $255k implies a 3300% gain — meaningful room to come down on a strong offer.
• At projected returns (9.7% appreciation + 3.0% rent growth), your $71k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.