10788 S 275th EastAvenue

Coweta, OK 74014

$303,307F

4 bd · 2.0 ba · 1,729 sqft · Built 2025 · SingleFamily · Active · 159 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,176/mo
• Mortgage (P&I): −$1,591
• Tax + insurance: −$506
• HOA: −$25
• Vac / Maint / Mgmt: −$457
• Net cashflow: $-402/mo
• Annual: $-4,825/yr
• Cap rate: 4.70%
• Cash-on-cash: -5.68%
• DSCR: 0.75
• 1% rule: 0.72%
• Cash to close: $84,926

Investor read

• This is a 4-bed/2.0-bath single-family listed at $303k. Condition is rated good.
• At list price, monthly cash flow is $-402 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (19.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (28.3% below list).
• It's been on market 159 days — a 12% lower offer ($267k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $218k (28.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#73 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Coweta (suburban): math 22% / reading 23% proficiency, ranked #124 of 270 in OK (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Highland Park Es (math 41% / reading 33%, grade F, #132 of 845 statewide, top 19%, 698 students, 0% FRL); Oneta Ridge Ms (math 25% / reading 26%, grade F, #84 of 345 statewide, top 26%, 924 students, 0% FRL); Broken Arrow Hs (math 22% / reading 36%, grade F, #120 of 447 statewide, top 27%, 4,589 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.1%/yr); 1022 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 581 units permitted in Wagoner County in 2024 (0 in 5+ unit buildings).
• Wagoner County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.7% vs local median 3.9% in Coweta — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• It's been on market 159 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.