506 S Walker

Bokchito, OK 74726

$15,000D+

3 bd · 1.0 ba · 1,128 sqft · Built 1948 · SingleFamily · Pending · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,057/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$9
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $747/mo
• Annual: $8,962/yr
• Cap rate: 66.04%
• Cash-on-cash: 213.38%
• DSCR: 10.49
• 1% rule: 7.04%
• Cash to close: $4,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $15k.
• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $235 of equity ($104 loan paydown + $131 appreciation (0.9% local appreciation)).
• Location reads 51/100 on livability (#664 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Rock Creek (rural): math 17% / reading 13% proficiency, ranked #225 of 270 in OK (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 21 active listings in the ZIP; 176 units permitted in Bryan County in 2024 (80 in 5+ unit buildings).
• Bryan County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1948 — 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?
• 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.
• 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.