101061 S 3376 Rd

Meeker, OK 74855

$150,000D+

3 bd · 2.0 ba · 1,120 sqft · Built 1983 · Manufactured · Pending · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $-12/mo
• Annual: $-138/yr
• Cap rate: 6.20%
• Cash-on-cash: -0.33%
• DSCR: 0.99
• 1% rule: 0.74%
• Cash to close: $42,000

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $150k.
• At list price, monthly cash flow is $-12 ($-138/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (26.4% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (26.4% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (8.0% local appreciation)).
• Location reads 63/100 on livability (#210 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: amenities F, commute F, employment D-.
• White Rock (rural): math 11% / reading 20% proficiency, ranked #454 of 513 in OK (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: White Rock Public School (math 2% / reading 12%, grade F, #755 of 845 statewide, top 90%, 143 students, 0% FRL) — zoned schools average 0% FRL vs 69% district-wide (69 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 55 active listings in the ZIP; 19 units permitted in Lincoln County in 2024 (0 in 5+ unit buildings).
• Current owner paid $127k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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?
• 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.
• 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.