489 N Carter St

Healdton, OK 73438

$32,500B-

3 bd · 2.0 ba · 1,792 sqft · Built 1950 · SingleFamily · Pending · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,130/mo
• Mortgage (P&I): −$170
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $666/mo
• Annual: $7,996/yr
• Cap rate: 30.89%
• Cash-on-cash: 87.86%
• DSCR: 4.91
• 1% rule: 3.48%
• Cash to close: $9,100

Investor read

• This is a 3-bed/2.0-bath single-family listed at $32k.
• At list price, monthly cash flow is $666 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $32k).
• It's been on market 34 days — a 3% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $225 of loan paydown is wiped out by about $975 of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#390 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-; Watch: amenities F, commute F, employment F.
• Healdton (rural): math 10% / reading 13% proficiency, ranked #246 of 270 in OK (top 91%) — 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: Healdton Es (math 17% / reading 12%, grade F, #604 of 845 statewide, top 76%, 209 students, 0% FRL); Healdton Hs (math 5% / reading 15%, grade F, #361 of 447 statewide, top 94%, 167 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.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 73 units permitted in Carter County in 2024 (0 in 5+ unit buildings).
• Carter County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• 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 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.