300 San Carlos Ln

Mannford, OK 74044

$112,000B-

2 bd · 1.0 ba · 1,352 sqft · Built 2022 · SingleFamily · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,212/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$202
• HOA: −$0
• Vac / Maint / Mgmt: −$255
• Net cashflow: $168/mo
• Annual: $2,019/yr
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• 1% rule: 1.08%
• Cash to close: $31,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $112k.
• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• It's been on market 85 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($774 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#53 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mannford (town): math 25% / reading 22% proficiency, ranked #125 of 270 in OK (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mannford Lower Es (math 37% / reading 22%, grade F, #255 of 845 statewide, top 35%, 315 students, 0% FRL); Mannford Ms (math 31% / reading 22%, grade F, #77 of 345 statewide, top 22%, 336 students, 0% FRL); Mannford Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 468 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 61 active listings in the ZIP; 193 units permitted in Creek County in 2024 (76 in 5+ unit buildings).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 2.6% in Mannford — 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 85 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
• 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.