23973 Rangeline Rd

Brooksville, OK 74873

$219,900D-

3 bd · 2.0 ba · 1,771 sqft · Built 1965 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,436/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $-206/mo
• Annual: $-2,476/yr
• Cap rate: 5.17%
• Cash-on-cash: -4.02%
• DSCR: 0.82
• 1% rule: 0.65%
• Cash to close: $61,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $220k.
• At list price, monthly cash flow is $-206 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (16.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (34.7% below list).
• It's been on market 28 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $144k (34.7% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Location reads 46/100 on livability (#699 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Tecumseh (town): math 13% / reading 18% proficiency, ranked #215 of 270 in OK (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cross Timbers Es (math 12% / reading 15%, grade F, #642 of 845 statewide, top 76%, 409 students, 0% FRL); Tecumseh Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 616 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 98 active listings in the ZIP; 183 units permitted in Pottawatomie County in 2024 (16 in 5+ unit buildings).
• Pottawatomie County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 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.
• Current owner paid $60k; list at $220k implies a 266% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$38k 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

• 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?
• Built in 1965 — 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?
• 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.
• 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.