11515 Leavenworth Trl

Mead, OK 73449

$159,000D+

3 bd · 2.0 ba · 2,128 sqft · Built 2003 · Manufactured · Pending · 136 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,248/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$138
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $15/mo
• Annual: $174/yr
• Cap rate: 6.40%
• Cash-on-cash: 0.39%
• DSCR: 1.02
• 1% rule: 0.78%
• Cash to close: $44,520

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $159k.
• At list price, monthly cash flow is $15 ($174/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 $125k (21.5% below list).
• It's been on market 136 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $125k (21.5% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Location reads 55/100 on livability (#562 in OK) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment B; Watch: crime F, amenities F, commute F.
• Silo (rural): math 24% / reading 35% proficiency, ranked #64 of 270 in OK (top 24%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Silo Es (math 33% / reading 44%, grade F, #125 of 845 statewide, top 15%, 279 students, 0% FRL); Silo Ms (math 17% / reading 27%, grade F, #129 of 345 statewide, top 42%, 246 students, 0% FRL); Silo Hs (math 10% / reading 30%, grade F, #236 of 447 statewide, top 61%, 275 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP; 176 units permitted in Bryan County in 2024 (80 in 5+ unit buildings).
• Bryan County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $159k implies a 78% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k 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 136 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.