924 S Meadow Ln · Mustang, OK 73064

$230,000

4 bd · 2.0 ba · 1,509 sqft · SingleFamily public records · 30 Days on market

Built 1970 0.42 ac lot Est $232k · at est.

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Why this score? — see what drove the D 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 +16.1/30.0
• ARV discount +8.0/15.0
• DSCR +5.0/10.0
• 1% rule +3.5/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Country living with the convenience of city access in the highly sought-after Mustang School District! Situated on approximately half an acre, this spacious 4-bedroom, 2-bath home offers a functional layout with plenty of room to spread out. Features include a 2-car garage, long driveway, and backyard access large enough for an RV, boat, trailer, or additional vehicles. Enjoy the privacy and flexibility of country-style living while still being just minutes from shopping, dining, schools, and everyday conveniences. Rarely do homes offer this combination of lot size, space, and location at such an attractive price point. Schedule your private showing today!

Key facts

• 0.42 acre lot
• 2 garage spots
• Built 1970

Property features AI

Finance

• Other: Property located in Meadowbrook A B4-7; Vacant and ready for occupancy
• Financial info: Assumable financing available; Loan qualifying allowed
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking; 2-car garage
• Utilities: No flood insurance required
• Home design: Two-level single family residence; Residential property; Existing property
• Construction: Brick and frame and concrete construction; Shingle roof (roof replaced or updated in 2012); Slab foundation
• Exterior features: Greenbelt lot; Covered porch; Exterior storage

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: In-law plan; Living area with one living area; Covered porch; Storage

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (15.3% below list).
• Recommended offer: $195k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.6% in Mustang — 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 69/100 on livability (#52 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mustang (suburban): math 35% / reading 33% proficiency, ranked #28 of 270 in OK (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mustang Es (math 37% / reading 32%, grade F, #168 of 845 statewide, top 24%, 654 students, 0% FRL); Mustang Ms (math 30% / reading 29%, grade F, #52 of 345 statewide, top 15%, 723 students, 0% FRL); Mustang Hs (math 28% / reading 39%, grade F, #65 of 447 statewide, top 14%, 3,756 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.3%/yr); 523 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 260 units permitted in Canadian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Canadian County population projected at +64% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $230k implies a 207% 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 $194,698 (15.3% below list)

Questions for the listing agent

1. Built in 1970 — 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. 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?
4. 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.
5. 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.
6. 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: 0.85% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $232,386
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 E Juniper Ln	0.23mi	4/2.0	1,535 (+2%)	5mo	$245,900	$160	82
1031 S Brookview Ln	0.29mi	3/2.0 (-1)	1,507 (-0%)	2mo	$175,000	$116	79
515 E Greenwood Ln	0.29mi	3/2.0 (-1)	1,532 (+2%)	1mo	$239,000	$156	78
806 S Meadow Ln	0.14mi	3/2.0 (-1)	1,422 (-6%)	2mo	$179,500	$126	77
605 E Linden	0.21mi	3/2.0 (-1)	1,361 (-10%)	1mo	$200,000	$147	68
629 E Elder Ln	0.45mi	3/2.0 (-1)	1,626 (+8%)	0mo	$258,000	$159	61
108 W Dowden Dr	0.49mi	3/2.0 (-1)	1,411 (-6%)	2mo	$150,000	$106	59
544 E Forest Ln	0.34mi	3/2.0 (-1)	1,686 (+12%)	1mo	$240,000	$142	59
223 E Juniper Ln	0.35mi	3/2.0 (-1)	1,326 (-12%)	4mo	$195,000	$147	55
728 E Linden Ln	0.39mi	3/2.0 (-1)	1,717 (+14%)	2mo	$265,000	$154	53
604 E Katelyn Ln	0.45mi	3/2.0 (-1)	1,293 (-14%)	1mo	$215,000	$166	50
1005 S Blackjack Ln	0.68mi	3/2.0 (-1)	1,389 (-8%)	2mo	$219,000	$158	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.45×
• Total profit: $-35,495
• Equity at exit: $34,294

10-year hold

• IRR: -13.2%
• Equity multiple: 0.32×
• Total profit: $-43,535
• Equity at exit: $19,886

Cash invested: $64,400 (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 73064

• Home prices YoY: -17.9%
• Rents YoY: -0.3%
• Active inventory: 523
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$118 /mo · $1,410/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $119

Break-even live

Break-even rent $1,797

Max offer price $230,000

Occupancy floor 89%

Sensitivity live

Price	-10% $249	-5% $184	+0% $119	+5% $54	+10% $-12
Rent	-10% $-35	-5% $42	+0% $119	+5% $196	+10% $272
Rate	-1.0pp $234	-0.5pp $177	base $119	+0.5pp $59	+1.0pp $-2

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
609 E Linden Ln Mustang, OK	3.0	2.0	1242	$1,700	$1.37	25d	1	0.22mi
933 S Blackjack Ln Mustang, OK	3.0	2.0	1336	$1,699	$1.27	18d	1	0.67mi
1109 S Appaloosa Ln Mustang, OK	4.0	2.0	1598	$1,795	$1.12	6d	1	0.72mi
360 N Pebble Creek Ter Mustang, OK	3.0	2.0	1350	$1,530	$1.13	4d	1	0.79mi
360 N Pebble Creek Ter Mustang, OK	3.0	2.0	1350	$1,540	$1.14	16d	1	0.79mi
548 W Shadow Ridge Way Mustang, OK	4.0	2.0	1734	$1,945	$1.12	22d	1	1.30mi
742 W Juniper Dr Mustang, OK	3.0	1.5	1100	$1,475	$1.34	3d	1	1.31mi
605 N Ponderosa Way Mustang, OK	3.0	2.0	1686	$2,000	$1.19	25d	1	1.50mi

Listing history 11 events

1. 2026-06-21
   days on market $230,000 Active 30 DOM
2. 2026-06-18
   days on market $230,000 Active 27 DOM
3. 2026-06-17
   days on market $230,000 Active 26 DOM
4. 2026-06-16
   days on market $230,000 Active 25 DOM
5. 2026-06-15
   days on market $230,000 Active 24 DOM
6. 2026-06-13
   days on market $230,000 Active 22 DOM
7. 2026-06-09
   days on market $230,000 Active 18 DOM
8. 2026-06-08
   days on market $230,000 Active 17 DOM
9. 2026-06-07
   statusdays on market $230,000 Active 16 DOM
10. 2026-05-10
    listed $230,000 Active
11. 1998-07-06
    soldstatus $75,000

ⓘ 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: $1,410 · $118/mo
• Projected year-2 tax: $2,070 · $172/mo
• Expected delta: +$660/yr (+$55/mo · 46.8%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,364
• − Mortgage interest: −$12,884
• − Property taxes: −$1,410
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$6,691
• Taxable loss: −$2,509
• Est. tax savings @ 24.0%: +$602
• After-tax cash flow: $2,026/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: Mustang
• NCES district ID: 4021000
• Math proficiency: 35% ▼ -10.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $67,559
• Composite: 31.21/100
• National rank: #6038
• State rank: #28 of 270 in OK

Livability — Mustang

• Score: 69/100
• State rank: #52
• US rank: #8746

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment A- Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mustang, OK
• County: Canadian County · 154,341 people
• City population: 28,919
• Metro: Oklahoma City, OK
• Population (ZIP): 28,919
• Household income: $94,402
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 384.0

Population outlook (Canadian County) Hauer SSP2

• Today (2025): 174,062 people
• By 2030: 195,170 · +12.1%
• By 2040: 239,293 · +37.5%
• By 2050: 285,457 · +64.0%
• By 2075: 403,766 · +132.0%
• By 2100: 498,766 · +186.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 11% Hispanic / Latino 10% Native American 3% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Scottish 2% Slovak 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Canadian

• 2024 margin: Solid R (+40.4) · D 28.8% · R 69.2% · Other 2.0%
• 2008→2024 swing: +11.9pp toward D · 2008: -52.2pp · 2024: -40.4pp
• All cycles: 2024: R+40.4 2020: R+43.3 2016: R+51.2 2012: R+54.4 2008: R+52.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.66%
• Current HPI: 260.2863
• Rent YoY: ▼ -0.33%
• 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

+206.7% since first listed

2 events — show timeline

• 2026-05-10 Listed $230,000 MLSOK
• 1998-07-06 Sold (Public Records) $75,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,410 · +6.2% YoY. Source: county tax records.