404 E Maple St

Drumright, OK 74030

$94,000B+

3 bd · 1.0 ba · 1,210 sqft · Built 1987 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,165/mo
• Mortgage (P&I): −$493
• Tax + insurance: −$90
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $338/mo
• Annual: $4,054/yr
• Cap rate: 10.61%
• Cash-on-cash: 15.40%
• DSCR: 1.69
• 1% rule: 1.24%
• Cash to close: $26,320

Investor read

• This is a 3-bed/1.0-bath single-family listed at $94k.
• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 29 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($650 loan paydown + $1k appreciation (1.1% local appreciation)).
• Location reads 66/100 on livability (#102 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B; Watch: schools F, amenities F, commute F.
• Drumright (rural): math 24% / reading 25% proficiency, ranked #353 of 513 in OK (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 39 active listings in the ZIP; 193 units permitted in Creek County in 2024 (76 in 5+ unit buildings).
• 4 sale attempts since 13y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $94k implies a 141% gain — meaningful room to come down on a strong offer.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe 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

• 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.