35708 S Fox Hill Rd

Paradise Hill, OK 74451

$65,000B+

2 bd · 2.0 ba · 868 sqft · Built 1976 · Manufactured · Active · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $866/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$108
• HOA: −$17
• Vac / Maint / Mgmt: −$182
• Net cashflow: $218/mo
• Annual: $2,613/yr
• Cap rate: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• 1% rule: 1.33%
• Cash to close: $18,200

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($866 rent vs $65k).
• It's been on market 44 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($449 loan paydown + $4k appreciation (5.7% local appreciation)).
• Location reads 50/100 on livability (#675 in OK) — a working-class tenant base; expect higher turnover. Strengths: housing A+, crime A; Watch: health & safety C-, cost of living D, schools F.
• Tahlequah (town): math 27% / reading 25% proficiency, ranked #109 of 270 in OK (top 40%) — 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.
• Market conditions: 145 active listings in the ZIP; 48 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).
• Cherokee County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $35k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $65k implies a 73% gain — meaningful room to come down on a strong offer.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/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 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.