24042 S Rockwell Ave

Blanchard, OK 73010

$90,000B

3 bd · 2.0 ba · 1,391 sqft · Built 2000 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,522/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$320
• Net cashflow: $581/mo
• Annual: $6,967/yr
• Cap rate: 14.03%
• Cash-on-cash: 27.65%
• DSCR: 2.23
• 1% rule: 1.69%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $90k. Condition is rated fair.
• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($622 loan paydown + $1k appreciation (1.4% local appreciation)).
• Location reads 69/100 on livability (#47 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Blanchard (rural): math 39% / reading 41% proficiency, ranked #13 of 270 in OK (top 5%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blanchard Es (558 students, 0% FRL); Blanchard Ms (math 26% / reading 44%, grade F, #23 of 345 statewide, top 6%, 477 students, 0% FRL); Blanchard Hs (math 27% / reading 42%, grade F, #48 of 447 statewide, top 14%, 724 students, 0% FRL) — zoned schools average 0% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 516 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 334 units permitted in McClain County in 2024 (0 in 5+ unit buildings).
• McClain County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 14.0% vs local median 2.6% in Blanchard — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Dated appearance
• Major: Bathroom fixtures — Old and damaged
• Major: Paint and wallpaper — Peeling and damaged
• Major: Carpet — Stained and worn