302 S 2nd St · Canute, OK 73626

$125,000

3 bd · 2.0 ba · 1,600 sqft · Manufactured public records · 48 Days on market

Built 2001 0.28 ac lot ↓ 4% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.4/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Appreciation +6.0/10.0
• 1% rule +5.1/10.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable property sits on corner lot and 40x40 red iron shop with 3 over head doors. Home has open floor plan front porch and rear deck. This home has lots of potential.

Key facts

• Open floor plan
• Red iron shop
• Front porch

Tags

• CORNER LOT
• RED IRON SHOP
• OPEN FLOOR PLAN
• FRONT PORCH
• REAR DECK

Property features AI

Finance

• Other: Property listed as active and unoccupied; Living area reported as 1,600 (assessor source)
• Financial info: Not assumable; Loan qualification: Unknown; Current asking price $130,000
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: Homestead status applied
• Home design: Single-family residence; Residential property; One level; Move-to-site manufactured home
• Construction: Manufactured construction; Composition roof; Combination foundation; Built as a model: No
• Exterior features: Corner lot; No additional exterior features listed; Located at the corner of 2nd and Broadway

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central gas heating
• Interior features: One living area; No fireplace; No study

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#148 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime D-, amenities F, commute F.
• Canute (rural): math 40% / reading 35% proficiency, ranked #132 of 513 in OK (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Canute Es (math 37% / reading 27%, grade F, #213 of 845 statewide, top 28%, 260 students, 0% FRL); Canute Hs (math 30% / reading 30%, grade F, #76 of 447 statewide, top 20%, 136 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP; 1 units permitted in Washita County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($864 loan paydown + $2k appreciation (1.9% local appreciation)).
• Washita County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.72%
• Cash-on-cash: 8.68%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.91% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.69×
• Total profit: $24,041
• Equity at exit: $48,675

10-year hold

• IRR: 15.6%
• Equity multiple: 3.06×
• Total profit: $72,150
• Equity at exit: $69,613

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73626

• Home prices YoY: 1.0%
• Active inventory: 6
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,258 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$34 /mo · $402/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $253

Break-even live

Break-even rent $938

Max offer price $125,000

Occupancy floor 75%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-20
   status Pending
2. 2026-04-13
   price $125,000
3. 2026-03-03
   listed $130,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $402 · $34/mo
• Projected year-2 tax: $1,125 · $94/mo
• Expected delta: +$723/yr (+$60/mo · 179.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,101
• − Mortgage interest: −$7,002
• − Property taxes: −$402
• − Insurance: −$625
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$3,636
• Taxable income: $1,020
• Est. tax owed @ 24.0%: −$245
• After-tax cash flow: $2,792/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Canute
• NCES district ID: 4006510
• Math proficiency: 40% ▲ 5.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $45,541
• Composite: 34.53/100
• National rank: #10127
• State rank: #132 of 513 in OK

Livability — Canute

• Score: 65/100
• State rank: #148
• US rank: #13296

Category grades

Amenities F Commute F Cost of living A+ Crime D- Employment A- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canute, OK
• Population (ZIP): 1,071

Population outlook (Washita County) Hauer SSP2

• Today (2025): 12,143 people
• By 2030: 12,276 · +1.1%
• By 2040: 12,522 · +3.1%
• By 2050: 12,740 · +4.9%
• By 2075: 13,198 · +8.7%
• By 2100: 13,189 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 16% Hispanic / Latino 13% Native American 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Washita

• 2024 margin: Solid R (+74.8) · D 11.8% · R 86.6% · Other 1.5%
• 2008→2024 swing: -18.9pp toward R · 2008: -55.9pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+73.0 2016: R+70.5 2012: R+61.8 2008: R+55.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.91%
• Current HPI: 187.2442
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

-3.8% since first listed

3 events — show timeline

• 2026-04-20 Pending — MLSOK
• 2026-04-13 Price Changed $125,000 MLSOK
• 2026-03-03 Listed $130,000 MLSOK

Property tax history

-0.4%/yr

Latest (2025): $402 · +3.6% YoY. Source: county tax records.