219 Maple St

Alva, OK 73717

$36,900B

3 bd · 2.0 ba · 1,436 sqft · Built 1938 · SingleFamily · Active Under Contract · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,150/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$72
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $643/mo
• Annual: $7,715/yr
• Cap rate: 27.20%
• Cash-on-cash: 74.67%
• DSCR: 4.32
• 1% rule: 3.12%
• Cash to close: $10,332

Investor read

• This is a 3-bed/2.0-bath single-family listed at $37k.
• At list price, monthly cash flow is $643 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $37k).
• It's been on market 86 days — a 6% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $35k (6.0% below list) — sets the bar for market timing.
• In year one you build about $635 of equity ($255 loan paydown + $380 appreciation (1.0% local appreciation)).
• Location reads 80/100 on livability (#4 in OK, #1,927 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities D, commute F.
• Alva (town): math 29% / reading 32% proficiency, ranked #55 of 270 in OK (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP.
• Woods County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $14k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→18/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 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1938 — 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?
• 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.