11625 Jude Way

Oklahoma City, OK 73099

$217,800D

3 bd · 2.0 ba · 1,236 sqft · Built 2022 · SingleFamily · Active · 103 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,716/mo
• Mortgage (P&I): −$1,142
• Tax + insurance: −$320
• HOA: −$19
• Vac / Maint / Mgmt: −$360
• Net cashflow: $-126/mo
• Annual: $-1,513/yr
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• 1% rule: 0.79%
• Cash to close: $60,984

Investor read

• This is a 3-bed/2.0-bath single-family listed at $218k. Condition is rated good.
• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (21.2% below list).
• It's been on market 103 days — a 9% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (21.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Piedmont (rural): math 37% / reading 39% proficiency, ranked #9 of 270 in OK (top 3%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Northwood Es (math 47% / reading 37%, grade F, #84 of 845 statewide, top 11%, 469 students, 0% FRL); Piedmont Ms (math 32% / reading 32%, grade F, #39 of 345 statewide, top 12%, 772 students, 0% FRL); Piedmont Hs (math 38% / reading 44%, grade F, #24 of 447 statewide, top 5%, 1,422 students, 0% FRL).
• Market conditions: Rents rising (+1.2%/yr); 1971 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 54d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 76% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 4y 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.
• Cap rate 5.6% vs local median 3.9% in Oklahoma City — 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 103 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Crime grade is F 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?