340903 E Hwy 62 Hwy

Meeker, OK 74855

$87,500B+

3 bd · 1.5 ba · 1,296 sqft · Built 1930 · Other · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,204/mo
• Mortgage (P&I): −$459
• Tax + insurance: −$70
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $422/mo
• Annual: $5,069/yr
• Cap rate: 12.09%
• Cash-on-cash: 20.69%
• DSCR: 1.92
• 1% rule: 1.38%
• Cash to close: $24,500

Investor read

• This is a 3-bed/1.5-bath other listed at $88k. Condition is rated fair.
• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $8k of equity ($605 loan paydown + $7k appreciation (8.0% local appreciation)).
• Location reads 63/100 on livability (#210 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment D-.
• Meeker (rural): math 19% / reading 28% proficiency, ranked #123 of 270 in OK (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Meeker Es (math 22% / reading 27%, grade F, #354 of 845 statewide, top 47%, 342 students, 0% FRL); Meeker Hs (math 22% / reading 27%, grade F, #150 of 447 statewide, top 48%, 209 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 19 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• At projected returns (8.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn condition
• Major: Bathroom tiles — Stained and dirty
• Moderate: Exterior siding — Weathered appearance
• Major: Carpeted flooring — Worn and dirty
• Major: Painted walls — Peeling paint