4811 N Asbury Ave

Bethany, OK 73008

$159,000C-

3 bd · 1.0 ba · 1,257 sqft · Built 1949 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,366/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $28/mo
• Annual: $340/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• 1% rule: 0.86%
• Cash to close: $44,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $159k.
• At list price, monthly cash flow is $28 ($340/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 $137k (14.1% below list).
• It's been on market 18 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (14.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#18 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, amenities F, commute F.
• Bethany (suburban): math 46% / reading 45% proficiency, ranked #7 of 270 in OK (top 3%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Earl Harris Es (math 50% / reading 54%, grade C-, #34 of 845 statewide, top 5%, 761 students, 0% FRL); Bethany Ms (math 47% / reading 38%, grade D-, #3 of 345 statewide, top 1%, 390 students, 0% FRL); Bethany Hs (math 32% / reading 42%, grade F, #42 of 447 statewide, top 10%, 528 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.9%/yr); 75 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $115k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.5% vs local median 4.5% in Bethany — 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 1949 — 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 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.