Neighborhood. 

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

This way, you’re not going all-in on a new roof before you need to, but you’re also avoiding costly water damage that could eat into the savings.In other words, patch it up, keep it durable, and wait to replace only when there’s no life left in it—Tonka style!

A duplex in the $100-200k range with a target CoC return of 8-12% is definitely within reach, especially in some of the emerging neighborhoods.In terms of areas, you might want to explore neighborhoods like Bagley, East English Village, and parts of Grandmont-Rosedale.

I planned to start small, a first deal <100K, and then scale in the neighborhood.

Feel free to reach out if you have any questions about investing in Oklahoma—I’m happy to help with insights into neighborhoods or connect you with local resources!

Seems like a cashflow only market, so picking a neighborhood that can get decent tenants is a must. 

Are they picking window style and placement, exterior cladding, color, etc? 

A higher quality property in a better neighborhood in a better city is gonna outperform any Cleveland property in the long run.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.