31 W 8th St

Kiowa, OK 74553

$79,900C+

2 bd · 1.0 ba · 1,040 sqft · Built 1955 · SingleFamily · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $944/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $194/mo
• Annual: $2,322/yr
• Cap rate: 9.20%
• Cash-on-cash: 10.38%
• DSCR: 1.46
• 1% rule: 1.18%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $80k).
• It's been on market 72 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($552 loan paydown + $5k appreciation (6.2% local appreciation)).
• Location reads 60/100 on livability (#363 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: schools D+, crime D+, amenities F.
• Kiowa (rural): math 40% / reading 35% proficiency, ranked #147 of 513 in OK (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP; 46 units permitted in Pittsburg County in 2024 (0 in 5+ unit buildings).
• Pittsburg County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 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 (6.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major 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 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1955 — 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — dated and cluttered
• Minor: bathroom — small and cluttered
• Minor: exterior siding — some peeling