9805 Hefner Village Dr

Oklahoma City, OK 73162

$159,000D+

3 bd · 3.0 ba · 1,548 sqft · Built 1977 · Townhouse · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,629/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$234
• HOA: −$225
• Vac / Maint / Mgmt: −$342
• Net cashflow: $-6/mo
• Annual: $-70/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• 1% rule: 1.02%
• Cash to close: $44,520

Investor read

• This is a 3-bed/3.0-bath townhouse listed at $159k.
• At list price, monthly cash flow is $-6 ($-70/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (0.6% below list).
• Meets the 1% rule at list price ($2k rent vs $159k).
• It's been on market 21 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Putnam City (urban): math 12% / reading 16% proficiency, ranked #227 of 270 in OK (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wiley Post Es (math 9% / reading 8%, grade F, #737 of 845 statewide, top 87%, 634 students, 0% FRL); Hefner Ms (math 15% / reading 20%, grade F, #186 of 345 statewide, top 55%, 965 students, 0% FRL); Putnam City North Hs (math 18% / reading 29%, grade F, #218 of 447 statewide, top 49%, 1,579 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 172 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 27y ago 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 $128k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.7% in Oklahoma City — 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

• 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 1977 — 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?
• Crime grade is F 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?
• 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.