1702 Denison Dr · Norman, OK 73069

$135,000

3 bd · 1.5 ba · 937 sqft · SingleFamily public records · 1 Days on market

Built 1960 8,276 sqft lot Est $152k · 11% under

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.1/30.0
• ARV discount +12.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.2/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This delightful 3-bedroom, 1.5-bath residence offers a perfect blend of comfort, functionality, and curb appeal. As you step onto the cozy covered front porch, you're greeted by a welcoming atmosphere. The living room flows seamlessly into the dining area, which sits just off the kitchen — creating a great layout for everyday living. The kitchen features ample cabinet space and storage. Step outside to discover the real showstopper — a huge backyard with endless potential! This home is a solid choice for first-time buyers, individuals looking to downsize, or investors looking for a property in a desirable Norman neighborhood.

Key facts

• Covered front porch
• Huge backyard
• Ample cabinet space

Tags

• COVERED FRONT PORCH
• HUGE BACKYARD
• AMPLE CABINET SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 8.2% vs local median 3.6% in Norman — 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.

Location & tenants

• Location reads 85/100 on livability (#1 in OK, #557 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+.
• Norman (suburban): math 27% / reading 32% proficiency, ranked #61 of 270 in OK (top 23%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cleveland Es (math 39% / reading 37%, grade F, #126 of 845 statewide, top 15%, 554 students, 0% FRL); Norman North Hs (math 45% / reading 57%, grade D+, #2 of 447 statewide, top 0%, 2,401 students, 0% FRL) — zoned schools average 0% FRL vs 39% district-wide (39 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 44% at this address vs 30% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Norman average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+7.7%/yr); 250 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Cleveland County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cleveland County population projected at +40% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $38k; list at $135k implies a 255% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.90%
• DSCR: 1.31
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $151,794
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1502 Iowa St	0.20mi	3/1.0	944 (+1%)	2mo	$132,500	$140	86
1534 Canterbury St	0.12mi	3/1.5	1,043 (+11%)	2mo	$162,000	$155	74
1302 Denison Dr	0.34mi	3/2.0	993 (+6%)	1mo	$180,000	$181	72
811 Kansas St	0.62mi	3/1.0	984 (+5%)	2mo	$158,600	$161	59
1103 Woods Ave	0.40mi	3/1.5	1,061 (+13%)	1mo	$169,000	$159	58
723 Barbour Ave	0.27mi	2/1.0 (-1)	1,052 (+12%)	2mo	$190,000	$181	58
626 Dakota St	0.69mi	2/1.0 (-1)	952 (+2%)	4mo	$155,000	$163	55
113 S Sherry Ave	0.61mi	3/1.5	1,008 (+8%)	5mo	$125,000	$124	54
902 Iowa St	0.51mi	2/1.0 (-1)	845 (-10%)	1mo	$85,000	$101	52
1333 Regent St	0.58mi	2/1.0 (-1)	868 (-7%)	5mo	$140,350	$162	49
700 Iowa St	0.68mi	2/2.0 (-1)	1,008 (+8%)	0mo	$210,000	$208	48
1325 Regent St	0.56mi	2/1.0 (-1)	836 (-11%)	2mo	$158,500	$190	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 7.66% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,303
• Equity at exit: $20,129

10-year hold

• IRR: 13.0%
• Equity multiple: 2.25×
• Total profit: $47,120
• Equity at exit: $11,672

Cash invested: $37,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73069

• Rents YoY: 7.7%
• Active inventory: 250
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,375 high
• Mortgage (P&I): −$708
• Tax from tax record: −$105 /mo · $1,260/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $217

Break-even live

Break-even rent $1,100

Max offer price $135,000

Occupancy floor 79%

Sensitivity live

Price	-10% $294	-5% $256	+0% $217	+5% $179	+10% $141
Rent	-10% $109	-5% $163	+0% $217	+5% $272	+10% $326
Rate	-1.0pp $285	-0.5pp $252	base $217	+0.5pp $182	+1.0pp $147

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1506 Dakota St Norman, OK	3.0	1.0	832	$1,050	$1.26	4d	1	0.13mi
1713 Iowa St Norman, OK	3.0	1.5	1030	$1,400	$1.36	12d	1	0.13mi
1238 Iowa St Norman, OK	2.0	1.0	720	$1,150	$1.60	24d	1	0.24mi
911 Nebraska St Norman, OK	2.0	1.0	750	$1,095	$1.46	15d	1	0.49mi
820 Iowa St Norman, OK	2.0	1.0	752	$1,350	$1.80	24d	1	0.55mi
515 24th Ave NW Norman, OK	2.0	1.0–1.5	975	$1,034	$1.06	4d	2	0.58mi
2313 Crestmont St Norman, OK	2.0	2.0	900	$975	$1.08	24d	1	0.63mi
212 S Mercedes Dr Norman, OK	3.0	1.5	1066	$1,400	$1.31	24d	1	0.66mi
202 Thompson Dr Norman, OK	3.0	1.5	942	$1,600	$1.70	24d	1	0.66mi
1104 W Robinson St Norman, OK	3.0	1.0	995	$1,250	$1.26	12d	1	0.66mi
208 Thompson Dr Norman, OK	2.0	1.5	982	$1,400	$1.43	24d	1	0.67mi
214 Thompson Dr Norman, OK	3.0	1.5	922	$1,600	$1.74	24d	1	0.68mi
306 S Mercedes Dr Norman, OK	3.0	1.5	1048	$1,600	$1.53	24d	1	0.73mi
1505 Huntington Way Norman, OK	3.0	1.0	1035	$1,300	$1.26	15d	1	0.74mi
301 Hal Muldrow Dr Norman, OK	1.0–2.0	1.0–2.0	857	$1,100	$1.28	2d	6	0.77mi
1005 W Eufaula St Norman, OK	2.0	2.0	1100	$1,350	$1.23	4d	1	0.85mi
1712 W Boyd St Norman, OK	3.0	1.0	936	$2,600	$2.78	15d	1	1.04mi
203 W Dale St Norman, OK	3.0	2.0	997	$1,395	$1.40	24d	1	1.13mi
800 Lexington St Norman, OK	3.0	2.0	1056	$1,259	$1.19	2d	1	1.15mi
222 S University Blvd Norman, OK	2.0	2.0	775	$2,875	$3.71	15d	1	1.22mi
222 S University Blvd Unit 2 Norman, OK	2.0	2.0	685	$2,055	$3.00	15d	1	1.22mi
1524 Rowena Ln Norman, OK	3.0	1.0	1025	$1,699	$1.66	24d	1	1.25mi
110 E Dale St Norman, OK	2.0	1.0	792	$950	$1.20	12d	1	1.27mi
303 E Himes St Unit 2 Norman, OK	2.0	1.0	671	$1,045	$1.56	24d	1	1.37mi
471 Elm Ave Norman, OK	2.0	2.0	976	$1,500	$1.54	24d	1	1.40mi
3001 Pheasant Run Rd Norman, OK	1.0–2.0	1.0–2.0	700	$1,189	$1.70	4d	8	1.43mi
917 24th Ave SW Norman, OK	1.0–2.0	1.0	773	$979	$1.27	4d	3	1.44mi
2400 W Brooks St Norman, OK	1.0–2.0	1.0	740	$950	$1.28	4d	4	1.46mi
316 Falcon Ct Unit 2 Norman, OK	2.0	1.0	975	$875	$0.90	24d	1	1.47mi

Listing history 5 events

1. 2025-05-14
   status Pending
2. 2025-05-13
   listed $135,000 Active
3. 2016-11-30
   historical
4. 2016-09-22
   listed $69,900
5. 1989-05-01
   soldstatus $38,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $1,260 · $105/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,504
• − Mortgage interest: −$7,562
• − Property taxes: −$1,260
• − Insurance: −$675
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$3,927
• Taxable income: $439
• Est. tax owed @ 24.0%: −$105
• After-tax cash flow: $2,502/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Norman
• NCES district ID: 4021720
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 32% ▼ -8.00%
• Median HH income: $48,940
• Composite: 25.67/100
• National rank: #7395
• State rank: #61 of 270 in OK

Livability — Norman

• Score: 85/100
• State rank: #1
• US rank: #557

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norman, OK
• County: Cleveland County · 239,547 people
• City population: 123,141
• Metro: Oklahoma City, OK
• Population (ZIP): 28,462
• Household income: $58,888
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1704.0

Population outlook (Cleveland County) Hauer SSP2

• Today (2025): 323,621 people
• By 2030: 349,070 · +7.9%
• By 2040: 400,168 · +23.7%
• By 2050: 454,101 · +40.3%
• By 2075: 602,926 · +86.3%
• By 2100: 734,485 · +127.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Two or more races 15% Hispanic / Latino 14% Native American 4% Black 4% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 3% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Cleveland

• 2024 margin: R (+14.9) · D 41.4% · R 56.4% · Other 2.2%
• 2008→2024 swing: +9.1pp toward D · 2008: -24.0pp · 2024: -14.9pp
• All cycles: 2024: R+14.9 2020: R+14.1 2016: R+21.7 2012: R+25.9 2008: R+24.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -252.79%
• Current HPI: 272.4754
• Rent YoY: ▲ 7.66%
• Metro: Oklahoma City, OK
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+255.3% since first listed

5 events — show timeline

• 2025-05-14 Pending — MLSOK
• 2025-05-13 Listed $135,000 MLSOK
• 2016-11-30 Listing Removed — MLSOK
• 2016-09-22 Listed $69,900 MLSOK
• 1989-05-01 Sold (Public Records) $38,000 Public Records

Property tax history

+4.1%/yr

Latest (2024): $1,260 · +4.7% YoY. Source: county tax records.