303 E Oklahoma St

Walters, OK 73572

$59,900A-

3 bd · 2.0 ba · 1,504 sqft · Built 1930 · SingleFamily · Active · 237 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,164/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $560/mo
• Annual: $6,721/yr
• Cap rate: 17.51%
• Cash-on-cash: 40.08%
• DSCR: 2.78
• 1% rule: 1.94%
• Cash to close: $16,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 237 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($414 loan paydown + $4k appreciation (5.9% local appreciation)).
• Location reads 64/100 on livability (#165 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Walters (town): math 22% / reading 25% proficiency, ranked #122 of 270 in OK (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Walters Es (math 37% / reading 27%, grade F, #213 of 845 statewide, top 28%, 274 students, 0% FRL); Walters Ms (math 12% / reading 22%, grade F, #193 of 345 statewide, top 60%, 140 students, 0% FRL); Walters Hs (math 15% / reading 24%, grade F, #274 of 447 statewide, top 66%, 196 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP.
• Cotton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k 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

• It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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 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.