1409 Jacy Ln

Blanchard, OK 73010

$191,000C-

3 bd · 2.0 ba · 1,920 sqft · Built 2001 · Manufactured · Active · 50 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,671/mo
• Mortgage (P&I): −$1,002
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$351
• Net cashflow: $142/mo
• Annual: $1,709/yr
• Cap rate: 7.19%
• Cash-on-cash: 3.20%
• DSCR: 1.14
• 1% rule: 0.88%
• Cash to close: $53,480

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $191k.
• 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 $167k (12.5% below list).
• It's been on market 50 days — a 3% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $167k (12.5% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.4% local appreciation)).
• Location reads 69/100 on livability (#47 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Bridge Creek (rural): math 30% / reading 29% proficiency, ranked #53 of 270 in OK (top 20%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bridge Creek Ies (math 29% / reading 32%, grade F, #247 of 845 statewide, top 30%, 409 students, 0% FRL); Bridge Creek Hs (math 27% / reading 32%, grade F, #96 of 447 statewide, top 26%, 508 students, 0% FRL) — zoned schools average 0% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 516 active listings in the ZIP; solid renter incomes; 224 units permitted in Grady County in 2024 (0 in 5+ unit buildings).
• Grady County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $19k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; list at $191k implies a 130% gain — meaningful room to come down on a strong offer.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 2.6% in Blanchard — 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

• It's been on market 50 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• 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.