34409 W 51st St S

Mannford, OK 74044

$150,000D

2 bd · 1.0 ba · 700 sqft · Built 1981 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,042/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-63/mo
• Annual: $-758/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• 1% rule: 0.69%
• Cash to close: $42,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-63 ($-758/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (30.6% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $104k (30.6% below list) — sets the bar for 1% rule.
• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#53 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Mannford (town): math 25% / reading 22% proficiency, ranked #125 of 270 in OK (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 61 active listings in the ZIP; 193 units permitted in Creek County in 2024 (76 in 5+ unit buildings).
• At projected returns (10.0% 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 ~$41k 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 2.6% in Mannford — 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

• 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 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?
• 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.