601 North Ave

Comanche, OK 73529

$62,500A-

2 bd · 1.0 ba · 1,192 sqft · Built 1955 · SingleFamily · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,024/mo
• Mortgage (P&I): −$328
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $434/mo
• Annual: $5,203/yr
• Cap rate: 14.62%
• Cash-on-cash: 29.73%
• DSCR: 2.32
• 1% rule: 1.64%
• Cash to close: $17,500

Investor read

• This is a 2-bed/1.0-bath single-family listed at $62k.
• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 21 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($432 loan paydown + $1k appreciation (2.3% local appreciation)).
• Location reads 62/100 on livability (#242 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Comanche (rural): math 18% / reading 20% proficiency, ranked #180 of 270 in OK (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Comanche Es (math 22% / reading 22%, grade F, #413 of 845 statewide, top 54%, 427 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 24 active listings in the ZIP; 17 units permitted in Stephens County in 2024 (0 in 5+ unit buildings).
• Current owner paid $32k; list at $62k implies a 95% gain — meaningful room to come down on a strong offer.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• 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

• Built in 1955 — 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.