62000 E 315th Loop #23 · Grove, OK 74344

$127,000

2 bd · 2.0 ba · 1,024 sqft · Manufactured · 135 Days on market

Built 2011 Fair condition 4,421 sqft lot $34/mo HOA · 3% of rent ↓ 11% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained 2 bed, 2 bath home with a large fenced backyard — perfect for pets and outdoor living! Enjoy easy lake access with a boat launch at the end of the cove and boat slips available for rent. Ideal as a full-time home or weekend getaway near all that Grove and Grand Lake have to offer.

Key facts

• Easy lake access
• Boat slips available
• Boat launch

Tags

• LARGE FENCED BACKYARD
• EASY LAKE ACCESS
• BOAT LAUNCH
• BOAT SLIPS AVAILABLE

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with an annual fee of $408.96; Marina in the community

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Fiber optic available; Public water; Public sewer
• Home design: Single-wide manufactured home; 1 story; Faces east; Permanent foundation
• Construction: Built (year source: public records); Aluminum siding; Vinyl siding; Asphalt/fiberglass roof
• Exterior features: Porch; Chain link fencing; Water access to Grand Lake and river access; Less than 1 mile to water

Interior

• Kitchen: Dishwasher; Freezer; Disposal; Icemaker; Microwave; Oven; Range; Refrigerator; Laminate counters
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: High speed internet; Laminate counters; Ceiling fan(s); Electric range connection; Vinyl windows
• Laundry & utility: Washer; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $127k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3 ($35/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 $124k (2.2% below list).
• Recommended offer: $112k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#361 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, crime D, amenities F.
• Grove (town): math 26% / reading 31% proficiency, ranked #77 of 270 in OK (top 28%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grove Lower Es (math 37% / reading 37%, grade F, #132 of 845 statewide, top 19%, 848 students, 0% FRL); Grove Upper Es (math 23% / reading 33%, grade F, #64 of 345 statewide, top 19%, 507 students, 0% FRL); Grove Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 782 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: 118 active listings in the ZIP; 51 units permitted in Delaware County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $878 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Delaware County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($112k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. Crime grade is D 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?
9. 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?
10. 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.
11. 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.
12. 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.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.34%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-20,315
• Equity at exit: $18,936

10-year hold

• IRR: -7.6%
• Equity multiple: 0.52×
• Total profit: $-17,126
• Equity at exit: $10,981

Cash invested: $35,560 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 74344

• Home prices YoY: -4.8%
• Active inventory: 118
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$666
• Tax est. 1.5%: −$159 /mo · $1,905/yr
• Insurance: −$53
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$34
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $3

Break-even live

Break-even rent $1,238

Max offer price $127,000

Occupancy floor 95%

Sensitivity live

Price	-10% $91	-5% $47	+0% $3	+5% $-41	+10% $-85
Rent	-10% $-95	-5% $-46	+0% $3	+5% $52	+10% $101
Rate	-1.0pp $67	-0.5pp $35	base $3	+0.5pp $-30	+1.0pp $-64

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,750
• Closing costs: $3,810
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $34 · $408/yr

Listing history 19 events

1. 2026-06-21
   days on market $127,000 Active 135 DOM
2. 2026-06-21
   days on market $127,000 Active 134 DOM
3. 2026-06-18
   days on market $127,000 Active 132 DOM
4. 2026-06-17
   days on market $127,000 Active 131 DOM
5. 2026-06-16
   days on market $127,000 Active 130 DOM
6. 2026-06-15
   days on market $127,000 Active 129 DOM
7. 2026-06-13
   days on market $127,000 Active 127 DOM
8. 2026-06-12
   days on market $127,000 Active 126 DOM
9. 2026-06-09
   days on market $127,000 Active 123 DOM
10. 2026-06-08
    days on market $127,000 Active 122 DOM
11. 2026-06-08
    days on market $127,000 Active 121 DOM
12. 2026-06-07
    days on market $127,000 Active 120 DOM
13. 2026-06-04
    pricedays on market $127,000 Active 117 DOM
14. 2026-06-02
    days on market $129,000 Active 116 DOM
15. 2026-06-01
    days on market $129,000 Active 115 DOM
16. 2026-05-31
    days on market $129,000 Active 114 DOM
17. 2026-05-12
    price $129,000
18. 2026-03-18
    price $135,000
19. 2026-02-06
    listed $145,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,901
• − Mortgage interest: −$7,114
• − Property taxes: −$1,905
• − Insurance: −$1,432
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − HOA: −$408
• − Depreciation: −$3,695
• Taxable loss: −$2,037
• Est. tax savings @ 24.0%: +$489
• After-tax cash flow: $523/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

A fair-condition manufactured home with cosmetic updates needed, offering potential for increased value with targeted improvements.

Repairs flagged

• Minor Landscaping — Overgrown areas need trimming.
• Minor Exterior paint — Light wear on siding suggests touch-up needed.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Aesthetic upgrades can attract more buyers/renters.
• Both HVAC maintenance — A clean and efficient HVAC system improves comfort and energy efficiency.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown areas need trimming.	Minor	$500–3,000
Exterior paint · Light wear on siding suggests touch-up needed.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Aesthetic upgrades can attract more buyers/renters. ↑
• Both HVAC maintenance — A clean and efficient HVAC system improves comfort and energy efficiency. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Grove
• NCES district ID: 4013530
• Math proficiency: 26% ▼ -14.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $39,379
• Composite: 23.93/100
• National rank: #7785
• State rank: #77 of 270 in OK

Livability — Grove

• Score: 60/100
• State rank: #361
• US rank: #19188

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D+ Housing A Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,386

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 41,302 people
• By 2030: 40,888 · -1.0%
• By 2040: 39,802 · -3.6%
• By 2050: 38,839 · -6.0%
• By 2075: 37,438 · -9.4%
• By 2100: 34,910 · -15.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 11% Native American 11% Hispanic / Latino 5%
• Common ancestry: Slovak 2% Iranian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Delaware

• 2024 margin: Solid R (+60.4) · D 19.2% · R 79.6% · Other 1.2%
• 2008→2024 swing: -26.6pp toward R · 2008: -33.8pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.5 2016: R+54.1 2012: R+41.3 2008: R+33.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.29%
• Current HPI: 281.8539
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

-11.0% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $129,000 MLS Technology, Inc.
• 2026-03-18 Price Changed $135,000 MLS Technology, Inc.
• 2026-02-06 Listed $145,000 MLS Technology, Inc.