2508 Spring Valley Ln

Oklahoma City, OK 73099

$224,900D

3 bd · 2.0 ba · 1,814 sqft · Built 2004 · Manufactured · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,738/mo
• Mortgage (P&I): −$1,179
• Tax + insurance: −$149
• HOA: −$0
• Vac / Maint / Mgmt: −$365
• Net cashflow: $44/mo
• Annual: $529/yr
• Cap rate: 6.53%
• Cash-on-cash: 0.84%
• DSCR: 1.04
• 1% rule: 0.77%
• Cash to close: $62,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $225k.
• At list price, monthly cash flow is $44 ($529/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (22.7% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $174k (22.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Mustang (suburban): math 35% / reading 33% proficiency, ranked #28 of 270 in OK (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mustang Trails Es (math 34% / reading 26%, grade F, #251 of 845 statewide, top 30%, 678 students, 0% FRL); Canyon Ridge Ies (math 43% / reading 36%, grade F, #8 of 345 statewide, top 2%, 749 students, 0% FRL); Mustang Hs (math 28% / reading 39%, grade F, #65 of 447 statewide, top 14%, 3,756 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.2%/yr); 1574 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $92k; list at $225k implies a 146% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 6.5% vs local median 3.7% in Oklahoma City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.