105 E Walk

Canute, OK 73626

$70,000B+

3 bd · 2.0 ba · 1,344 sqft · Built 1963 · SingleFamily · Active · 275 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,238/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$117
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $495/mo
• Annual: $5,934/yr
• Cap rate: 14.77%
• Cash-on-cash: 30.28%
• DSCR: 2.35
• 1% rule: 1.77%
• Cash to close: $19,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• It's been on market 275 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($484 loan paydown + $1k appreciation (1.9% local appreciation)).
• 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).
• Washita County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; 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

• It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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?
• 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.