123 2nd St

Manitou, OK 73555

$115,900C

3 bd · 2.0 ba · 1,649 sqft · Built 1985 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,201/mo
• Mortgage (P&I): −$608
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $233/mo
• Annual: $2,791/yr
• Cap rate: 8.70%
• Cash-on-cash: 8.60%
• DSCR: 1.38
• 1% rule: 1.04%
• Cash to close: $32,452

Investor read

• This is a 3-bed/2.0-bath single-family listed at $116k.
• At list price, monthly cash flow is $233 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($801 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 51/100 on livability (#648 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools D+, amenities F, commute F.
• Tipton (rural): math 15% / reading 15% proficiency, ranked #471 of 513 in OK (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 2 active listings in the ZIP.
• Tillman County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• 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.