713 Elm St

Seminole, OK 74868

$154,900D-

3 bd · 2.0 ba · 1,242 sqft · Built 2025 · SingleFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,105/mo
• Mortgage (P&I): −$812
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $-197/mo
• Annual: $-2,367/yr
• Cap rate: 4.76%
• Cash-on-cash: -5.46%
• DSCR: 0.76
• 1% rule: 0.71%
• Cash to close: $43,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (18.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (28.6% below list).
• It's been on market 101 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $111k (28.6% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#222 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D+, schools F, amenities F.
• Seminole (town): math 17% / reading 21% proficiency, ranked #193 of 270 in OK (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 136 active listings in the ZIP; 93 units permitted in Seminole County in 2024 (43 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 101 days. Have you received any prior offers? Is the seller open to a 29% 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 D 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.