310 SW 1st St

Bluejacket, OK 74330

$129,900C-

3 bd · 2.0 ba · 1,350 sqft · Built 1965 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,151/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $143/mo
• Annual: $1,712/yr
• Cap rate: 7.61%
• Cash-on-cash: 4.71%
• DSCR: 1.21
• 1% rule: 0.89%
• Cash to close: $36,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $143 ($2k/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 $115k (11.4% below list).
• It's been on market 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (11.4% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($898 loan paydown + $3k appreciation (2.2% local appreciation)).
• Location reads 59/100 on livability (#394 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Bluejacket (rural): math 25% / reading 25% proficiency, ranked #333 of 513 in OK (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 62 active listings in the ZIP; 24 units permitted in Craig County in 2024 (0 in 5+ unit buildings).
• Craig County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 7 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $92k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k 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→20/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 37 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1965 — 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?
• 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?
• 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.