207 N Walnut St

Fort Cobb, OK 73038

$112,000C-

3 bd · 2.0 ba · 1,184 sqft · Built 2011 · Manufactured · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,007/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $142/mo
• Annual: $1,700/yr
• Cap rate: 7.81%
• Cash-on-cash: 5.42%
• DSCR: 1.24
• 1% rule: 0.90%
• Cash to close: $31,360

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $112k.
• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (10.1% below list).
• It's been on market 142 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#200 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment C-, amenities F, commute F.
• Binger-Oney (rural): math 25% / reading 30% proficiency, ranked #305 of 513 in OK (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Binger-Oney Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 191 students, 0% FRL); Binger-Oney Hs (math 30% / reading 50%, grade F, #25 of 447 statewide, top 8%, 99 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 18 active listings in the ZIP.
• Caddo County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $18k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $112k implies a 1144% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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 142 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.