49397 E County Road 1604

Stratford, OK 74872

$89,900D+

2 bd · 1.0 ba · 840 sqft · Built 1983 · SingleFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $848/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $49/mo
• Annual: $584/yr
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• 1% rule: 0.94%
• Cash to close: $25,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $90k. Condition is rated poor.
• At list price, monthly cash flow is $49 ($584/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 $85k (5.7% below list).
• It's been on market 64 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($622 loan paydown + $5k appreciation (5.5% local appreciation)).
• Location reads 61/100 on livability (#291 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Stratford (rural): math 27% / reading 22% proficiency, ranked #130 of 270 in OK (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Stratford Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 307 students, 0% FRL); Stratford Hs (math 34% / reading 44%, grade F, #37 of 447 statewide, top 9%, 186 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 1 units permitted in Garvin County in 2024 (0 in 5+ unit buildings).
• Garvin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, 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.

Questions for listing agent

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and potential leaks.
• Major: exterior siding — Weathered and peeling, indicating structural issues.
• Major: landscaping — Overgrown and unkempt, requiring significant maintenance and landscaping improvements.
• Major: exterior walls — Peeling paint and siding damage, indicating structural issues and potential water damage.
• Major: HVAC — No specific systems are visible, but the overall condition suggests potential issues with HVAC and utilities.
• Major: foundation — No specific foundation issues are visible, but the exterior condition suggests potential structural issues and water damage.