617 7th St

Alva, OK 73717

$107,000C+

3 bd · 2.0 ba · 2,968 sqft · Built 1932 · SingleFamily · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,233/mo
• Mortgage (P&I): −$561
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$259
• Net cashflow: $235/mo
• Annual: $2,816/yr
• Cap rate: 8.92%
• Cash-on-cash: 9.40%
• DSCR: 1.42
• 1% rule: 1.15%
• Cash to close: $29,960

Investor read

• This is a 3-bed/2.0-bath single-family listed at $107k.
• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• It's been on market 39 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($740 loan paydown + $1k appreciation (1.0% local appreciation)).
• Location reads 80/100 on livability (#4 in OK, #1,927 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, commute F, employment F.
• Alva (town): math 29% / reading 32% proficiency, ranked #55 of 270 in OK (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lincoln Es (math 32% / reading 37%, grade F, #168 of 845 statewide, top 24%, 144 students, 0% FRL); Alva Hs (math 27% / reading 32%, grade F, #96 of 447 statewide, top 26%, 263 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP.
• Woods County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $78k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~6 years — after that, you're playing with house money.
• 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.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1932 — 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.