416 N Caney St

Copan, OK 74022

$39,000B

2 bd · 1.0 ba · 696 sqft · Built 1960 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $809/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$39
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $396/mo
• Annual: $4,754/yr
• Cap rate: 18.48%
• Cash-on-cash: 43.54%
• DSCR: 2.94
• 1% rule: 2.08%
• Cash to close: $10,920

Investor read

• This is a 2-bed/1.0-bath single-family listed at $39k.
• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($809 rent vs $39k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($270 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 56/100 on livability (#538 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Copan (rural): math 6% / reading 15% proficiency, ranked #488 of 513 in OK (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 46 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 25y ago 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.
• Current owner paid $28k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1960 — 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?
• 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.