223 W 6th St · Edmond, OK 73003

$229,000

3 bd · 2.0 ba · 1,380 sqft · SingleFamily public records · 26 Days on market

Built 2000 5,319 sqft lot Est $233k · 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 +12.3/30.0
• ARV discount +8.3/15.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean and move-in ready!

Key facts

• 5,319 sq ft lot
• Garage
• Built 2000

Property features AI

Finance

• Other: Homestead not indicated; Property recorded in Buell Hollis addition
• Financial info: Assumable: No; Current listing price available
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: No storm shelter
• Home design: Single-family residence; One-story; Existing property
• Construction: Brick and frame construction; Composition roof; Slab foundation
• Exterior features: No notable exterior features listed; Campus area; interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central gas cooling
• Interior features: One living area; Gas log fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-41 ($-489/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (21.4% below list).
• Recommended offer: $180k (21.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Edmond — 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 78/100 on livability (#6 in OK, #2,383 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety C-, commute F.
• Edmond (suburban): math 38% / reading 40% proficiency, ranked #11 of 270 in OK (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sunset Es (math 18% / reading 18%, grade F, #534 of 845 statewide, top 64%, 670 students, 0% FRL); Memorial Hs (math 44% / reading 56%, grade D+, #4 of 447 statewide, top 1%, 2,605 students, 0% FRL) — zoned schools average 0% FRL vs 22% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.9%/yr); 215 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 5,365 units permitted in Oklahoma County in 2024 (569 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.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $115k; list at $229k implies a 99% 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 $179,976 (21.4% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
5. 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.
6. 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.
7. 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: 0.79% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $233,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
300 W 8th St	0.19mi	3/2.0	1,498 (+9%)	0mo	$250,000	$167	77
516 W 7th St	0.24mi	3/2.0	1,495 (+8%)	4mo	$235,000	$157	72
209 W 8th St	0.18mi	3/1.0	1,216 (-12%)	3mo	$166,000	$137	66
815 W 7th St	0.48mi	3/2.0	1,481 (+7%)	4mo	$230,000	$155	62
127 Walnut Way	0.30mi	3/2.5	1,530 (+11%)	12mo	$229,900	$150	56
432 Wisdom Way	0.56mi	3/2.0	1,266 (-8%)	7mo	$229,000	$181	54
216 N Walnut St	0.53mi	3/2.0	1,262 (-9%)	12mo	$228,000	$181	51
300 N Fretz Ave	0.58mi	4/1.5 (+1)	1,248 (-10%)	1mo	$230,000	$184	50
424 Victory Rd	0.72mi	3/2.0	1,242 (-10%)	0mo	$210,000	$169	50
735 Main St	0.58mi	3/2.5	1,560 (+13%)	1mo	$478,509	$307	48
8 N Walnut St	0.41mi	3/2.5	1,577 (+14%)	12mo	$378,000	$240	45
115 E 11th St	0.71mi	4/1.5 (+1)	1,233 (-11%)	11mo	$196,200	$159	33

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 · 3.86% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.40×
• Total profit: $-38,182
• Equity at exit: $34,145

10-year hold

• IRR: -7.2%
• Equity multiple: 0.53×
• Total profit: $-30,224
• Equity at exit: $19,800

Cash invested: $64,120 (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 73003

• Home prices YoY: -31.2%
• Rents YoY: 3.9%
• Active inventory: 215
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,800 high
• Mortgage (P&I): −$1,201
• Tax from tax record: −$166 /mo · $1,995/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-41

Break-even live

Break-even rent $1,851

Max offer price $221,794

Occupancy floor 97%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
575 S Fretz Ave Edmond, OK	3.0	2.5	1530	$2,000	$1.31	3d	1	0.06mi
541 S Fretz Ave Edmond, OK	2.0	2.5	1682	$1,795	$1.07	23d	1	0.06mi
463 S Fretz Ave Edmond, OK	2.0	2.0	1550	$1,695	$1.09	14d	1	0.08mi
612 W 2nd St Unit 100 Edmond, OK	3.0	2.5	1414	$1,895	$1.34	21d	1	0.36mi
15 S Walnut St Edmond, OK	2.0	1.0	1162	$1,400	$1.20	23d	1	0.37mi
1028 Mollie Rausch Ln Edmond, OK	3.0	2.0	1495	$1,650	$1.10	23d	1	0.43mi
645 W 2nd St Edmond, OK	3.0	2.0	1660	$1,975	$1.19	14d	1	0.43mi
16 N Walnut St Edmond, OK	3.0	2.5	1650	$2,395	$1.45	14d	1	0.43mi
101 W Main St Edmond, OK	3.0	1.0–2.0	991	$2,320	$2.34	1d	111	0.45mi
105 W Hurd St Edmond, OK	2.0	1.0	930	$1,550	$1.67	2d	1	0.49mi
714 W Hurd St Edmond, OK	2.0	1.0	1000	$1,150	$1.15	23d	1	0.59mi
808 Mars Cir Unit 1 Edmond, OK	3.0	1.0	1401	$1,375	$0.98	19d	1	0.62mi
412 Chalk Hill Ct Edmond, OK	3.0	2.0	1216	$1,565	$1.29	14d	1	0.66mi
425 Chalk Hill Ct Edmond, OK	3.0	2.0	1243	$1,550	$1.25	14d	1	0.68mi
401 E 7th St Edmond, OK	3.0	2.0	1255	$1,450	$1.16	23d	1	0.69mi
437 Chalk Hill Ct Edmond, OK	3.0	2.0	1216	$1,595	$1.31	23d	1	0.69mi
425 Sterling Pointe Way Unit 425 Edmond, OK	2.0	2.0	1050	$1,300	$1.24	4d	1	0.69mi
436 Chalk Hill Ct Edmond, OK	3.0	2.0	1274	$2,850	$2.24	21d	1	0.70mi
436 Chalk Hill Ct Edmond, OK	3.0	2.0	1274	$2,850	$2.24	23d	1	0.70mi
930 S Boulevard Edmond, OK	1.0–2.0	1.0–2.0	792	$1,085	$1.37	4d	10	0.73mi
1024 Carpe Diem Ct Edmond, OK	3.0	2.0	1700	$1,895	$1.11	3d	1	0.75mi
5 E Thatcher St Edmond, OK	3.0	1.0	1144	$1,550	$1.35	23d	1	0.80mi
225 E Edwards St Edmond, OK	4.0	2.0	1816	$1,950	$1.07	14d	1	0.81mi
320 E Edwards St Apt 12 Edmond, OK	2.0	1.0	927	$1,100	$1.19	23d	1	0.82mi
1129 Carpe Diem Ct Edmond, OK	3.0	2.0	1250	$1,595	$1.28	4d	1	0.83mi
600 N Broadway Edmond, OK	2.0	1.0	1062	$1,325	$1.25	2d	1	0.86mi
513 Sunnyside Pl Edmond, OK	3.0	1.5	1130	$1,350	$1.19	4d	1	0.86mi
301 N University Dr Unit 12 Edmond, OK	2.0	1.0	990	$1,000	$1.01	14d	1	0.87mi
504 N Boulevard Edmond, OK	3.0	2.0	1250	$2,595	$2.08	14d	1	0.88mi
1013 Kelly Park Rd Edmond, OK	4.0	2.0	1450	$1,550	$1.07	2d	1	0.89mi
25 Creek View Dr Edmond, OK	1.0–2.0	1.0–2.0	872	$1,336	$1.53	4d	1	0.91mi
620 Winding Ln Edmond, OK	3.0	2.0	1133	$1,550	$1.37	2d	1	0.91mi
320 Cedar Crest Dr Edmond, OK	3.0	1.5	1051	$1,295	$1.23	2d	1	0.93mi
313 Dooley Creek Ln Edmond, OK	3.0	2.0	1295	$1,595	$1.23	23d	1	0.96mi
242 Barrett Pl Edmond, OK	2.0	1.0	1029	$1,150	$1.12	21d	1	0.97mi
317 Dooley Creek Ln Edmond, OK	3.0	2.0	1295	$1,595	$1.23	14d	1	0.97mi
1504 Apollo Rd Edmond, OK	3.0	2.0	1435	$1,475	$1.03	11d	1	0.99mi
231 Barrett Pl Edmond, OK	3.0	2.0	1175	$1,295	$1.10	23d	1	0.99mi
413 Meadow Lake Dr Edmond, OK	4.0	2.0	1369	$1,500	$1.10	2d	1	0.99mi
159 Barrett Pl Edmond, OK	2.0	1.5	1175	$1,175	$1.00	23d	1	1.00mi

Listing history 23 events

1. 2026-06-18
   days on market $229,000 Active 26 DOM
2. 2026-06-17
   days on market $229,000 Active 25 DOM
3. 2026-06-16
   days on market $229,000 Active 24 DOM
4. 2026-06-15
   days on market $229,000 Active 23 DOM
5. 2026-06-13
   days on market $229,000 Active 21 DOM
6. 2026-06-09
   days on market $229,000 Active 17 DOM
7. 2026-06-08
   days on market $229,000 Active 16 DOM
8. 2026-06-07
   days on market $229,000 Active 15 DOM
9. 2026-06-03
   pricedays on market $229,000 Active 11 DOM
10. 2026-06-02
    days on market $240,000 Active 10 DOM
11. 2026-06-01
    days on market $240,000 Active 9 DOM
12. 2026-05-31
    days on market $240,000 Active 8 DOM
13. 2026-05-23
    listed $240,000 Active
14. 2026-05-15
    price $1,850
15. 2026-05-06
    price $1,995
16. 2026-04-29
    listed $1,695
17. 2026-04-08
    soldstatus $115,000
18. 2013-05-02
    soldstatus $116,500
19. 2013-04-29
    soldstatus $116,500 24-char remark

    Show marketing remark (24 chars)

    Clean and move-in ready!

20. 2013-03-21
    listed $124,900 24-char remark

    Show marketing remark (24 chars)

    Clean and move-in ready!

21. 2009-03-03
    soldstatus $108,000
22. 2009-02-27
    soldstatus $107,900 239-char remark

    Show marketing remark (239 chars)

    Cute as can be. 3 bed, 2 bath. Designer paint colors. 10ft ceilings in living, dining & master bed. Landscaped backyard w/ small fish pond. Home is "move in" ready. Priced to sell. FHA & VA buyers "Take a look".

23. 2009-01-15
    listed $107,900 239-char remark

    Show marketing remark (239 chars)

    Cute as can be. 3 bed, 2 bath. Designer paint colors. 10ft ceilings in living, dining & master bed. Landscaped backyard w/ small fish pond. Home is "move in" ready. Priced to sell. FHA & VA buyers "Take a look".

ⓘ 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: $1,995 · $166/mo
• Projected year-2 tax: $2,061 · $172/mo
• Expected delta: +$66/yr (+$5/mo · 3.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,597
• − Mortgage interest: −$12,828
• − Property taxes: −$1,995
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$6,662
• Taxable loss: −$4,488
• Est. tax savings @ 24.0%: +$1,077
• After-tax cash flow: $588/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: Edmond
• NCES district ID: 4010590
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $73,212
• Composite: 35.88/100
• National rank: #4814
• State rank: #11 of 270 in OK

Livability — Edmond

• Score: 78/100
• State rank: #6
• US rank: #2383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edmond, OK
• County: Oklahoma County · 771,644 people
• City population: 177,083
• Metro: Oklahoma City, OK
• Population (ZIP): 23,236
• Household income: $78,149
• Rent vs Own: 42.1% rent · 57.9% own
• Severe rent burden: 988.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 13% Black 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.15%
• Current HPI: 229.3899
• Rent YoY: ▲ 3.86%
• 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

+122.4% since first listed

11 events — show timeline

• 2026-05-23 Listed $240,000 MLSOK
• 2026-05-15 Price Changed $1,850 MLSOK
• 2026-05-06 Price Changed $1,995 MLSOK
• 2026-04-29 Listed for Rent $1,695 MLSOK
• 2026-04-08 Sold (Public Records) $115,000 Public Records
• 2013-05-02 Sold (Public Records) $116,500 Public Records
• 2013-04-29 Sold (MLS) $116,500 MLSOK
• 2013-03-21 Listed $124,900 MLSOK
• 2009-03-03 Sold (Public Records) $108,000 Public Records
• 2009-02-27 Sold (MLS) $107,900 MLSOK
• 2009-01-15 Listed $107,900 MLSOK

Property tax history

+4.0%/yr

Latest (2025): $1,995 · +4.0% YoY. Source: county tax records.