304 E 8th St

South Coffeyville, OK 74072

$96,000C-

2 bd · 1.0 ba · 984 sqft · Built 1947 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $889/mo
• Mortgage (P&I): −$503
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $138/mo
• Annual: $1,653/yr
• Cap rate: 8.02%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• 1% rule: 0.93%
• Cash to close: $26,880

Investor read

• This is a 2-bed/1.0-bath single-family listed at $96k.
• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (7.4% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $89k (7.4% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($664 loan paydown + $6k appreciation (6.3% local appreciation)).
• Location reads 64/100 on livability (#161 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• South Coffeyville (town): math 15% / reading 15% proficiency, ranked #462 of 513 in OK (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 8 units permitted in Nowata County in 2024 (0 in 5+ unit buildings).
• Nowata County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $26k; list at $96k implies a 262% gain — meaningful room to come down on a strong offer.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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

• Built in 1947 — 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.