903 E Seminole St

Wynnewood, OK 73098

$80,000B+

2 bd · 1.0 ba · 1,040 sqft · Built 1960 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $948/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$53
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $276/mo
• Annual: $3,312/yr
• Cap rate: 10.43%
• Cash-on-cash: 14.79%
• DSCR: 1.66
• 1% rule: 1.18%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $80k).
• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($553 loan paydown + $6k appreciation (7.9% local appreciation)).
• Location reads 62/100 on livability (#253 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Wynnewood (rural): math 13% / reading 22% proficiency, ranked #198 of 270 in OK (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Central Es (math 17% / reading 27%, grade F, #413 of 845 statewide, top 54%, 277 students, 0% FRL); Wynnewood Hs (math 5% / reading 24%, grade F, #332 of 447 statewide, top 78%, 210 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 55 active listings in the ZIP; 1 units permitted in Garvin County in 2024 (0 in 5+ unit buildings).
• Garvin County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $30k; list at $80k implies a 167% gain — meaningful room to come down on a strong offer.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 10.4% vs local median 5.9% in Wynnewood — 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

• Built in 1960 — 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.