2616 Elwood Dr Unit 2614-2616 · Edmond, OK 73013

$311,900

4 bd · 3.0 ba · 2,220 sqft · MultiFamily · 29 Days on market

Built 1971 Good condition 9,679 sqft lot Est $311k · at est. ↓ 2% since listing

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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 +14.6/30.0
• ARV discount +7.3/15.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This is a very nice duplex. Live in one side and rent out the other side. 2616 is rented & 2614 recently vacated. Items replaced within past 2-3 years: Windows, gutters, toilets, kitchen countertops, dishwashers, sinks, flooring, storm doors on front & back, fencing & mailboxes & additional lights under carport. New carpet in 2614. Carpet replaced in 2616 in 2024. Roof is in good shape. Electrical upgraded. Large fenced backyard. 2 parking spaces under carport & 2 spaces on gravel. Shared driveway. Each unit comes with refrigerator, washer/dryer, dishwasher, disposal and electric stove. Easy walk to Hobby Lobby, Burger King, Midfirst Bank & more. All bed

Key facts

• Replaced windows
• Replaced dishwashers
• Replaced sinks

Tags

• REPLACED WINDOWS
• REPLACED GUTTERS
• REPLACED TOILETS
• REPLACED KITCHEN COUNTERTOPS
• REPLACED DISHWASHERS
• REPLACED SINKS

Property features AI

Finance

• Other: Currently occupied; Two-unit property (duplex); Living area reported as 2,220 (assessor)
• Financial info: Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking for 4 vehicles
• Utilities: No flood insurance required (per listing data)
• Home design: Residential income duplex; Two levels
• Construction: Brick construction; Radiant barrier roof; Double-pane Low-E windows; Built (existing property)
• Exterior features: Interior lot

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator
• Bedrooms: 4 bedrooms (property has two levels)
• Bathrooms: 2 full bathrooms; 2 half bathrooms
• Interior features: Storage; Yard
• Laundry & utility: Washer and dryer included; Slab foundation

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $312k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $74 ($887/yr) — positive. Per door: $37/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (9.5% below list).
• Recommended offer: $282k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Orvis Risner Es (math 26% / reading 33%, grade F, #255 of 845 statewide, top 35%, 568 students, 0% FRL); Cimarron Ms (math 24% / reading 26%, grade F, #90 of 345 statewide, top 27%, 866 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 (+3.1%/yr); 662 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $9k 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 29 days — a 2% lower offer ($307k) is reasonable based on typical stale-listing flexibility.

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 $282,200 (9.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $310,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2616 Elwood Dr Unit 2614-2616	0.00mi	4/3.0	2,220 (0%)	1mo	$311,900	$140	99

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 · 3.14% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.48×
• Total profit: $-45,393
• Equity at exit: $46,505

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-31,655
• Equity at exit: $26,967

Cash invested: $87,332 (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 73013

• Rents YoY: 3.1%
• Active inventory: 662
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $2,822 high
• Mortgage (P&I): −$1,636
• Tax est. 1.5%: −$390 /mo · $4,678/yr
• Insurance: −$130
• HOA: −$0
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $74

Break-even live

Break-even rent $2,728

Max offer price $311,900

Occupancy floor 92%

Sensitivity live

Price	-10% $289	-5% $182	+0% $74	+5% $-34	+10% $-142
Rent	-10% $-149	-5% $-38	+0% $74	+5% $185	+10% $297
Rate	-1.0pp $231	-0.5pp $153	base $74	+0.5pp $-7	+1.0pp $-89

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$2,822
Total (2 units)			$2,822

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: $77,975
• Closing costs: $9,357
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 E 30th St Unit 1 Edmond, OK	3.0	2.0	1400	$1,450	$1.04	25d	1	0.30mi
3518 Wynn Cir Edmond, OK	3.0	2.5	1595	$1,475	$0.92	25d	1	0.40mi
3623 Wynn Cir Edmond, OK	3.0	2.5	1700	$1,450	$0.85	3d	1	0.40mi
3617 Wynn Cir Edmond, OK	3.0	2.5	1706	$1,350	$0.79	25d	1	0.41mi
3611 Wynn Cir Unit 1 Edmond, OK	3.0	2.5	1737	$1,495	$0.86	5d	1	0.41mi
3613 Wynn Cir Edmond, OK	3.0	2.5	1737	$1,595	$0.92	5d	1	0.42mi
3622 Wynn Cir Edmond, OK	3.0	2.0	1575	$1,425	$0.90	25d	1	0.43mi
3622 Wynn Cir Edmond, OK	3.0	2.0	1575	$1,425	$0.90	16d	1	0.43mi
204 Ridgecrest Rd Edmond, OK	4.0	2.5	1573	$1,795	$1.14	5d	1	0.46mi
1820 Chelsea Dr Edmond, OK	3.0	2.0	1749	$1,695	$0.97	3d	1	0.59mi
1809 Courtney Ln Edmond, OK	3.0	2.0	1633	$1,795	$1.10	13d	1	0.63mi
3412 Prairie Ave Edmond, OK	3.0	2.5	1589	$1,970	$1.24	3d	1	0.81mi
801 Cogswell Cir Edmond, OK	4.0	2.0	2026	$2,750	$1.36	19d	1	0.90mi
641 Belle Air Ave Edmond, OK	4.0	2.0	1520	$1,650	$1.09	3d	1	0.91mi
3215 Oakwood Dr Edmond, OK	4.0	2.0	1602	$2,550	$1.59	3d	1	0.95mi
3608 Jim Robison Dr Edmond, OK	4.0	2.5	2111	$2,195	$1.04	3d	1	0.97mi
2609 Foxglove Ln Edmond, OK	4.0	3.0	2350	$2,650	$1.13	5d	1	1.13mi
2609 Foxglove Ln Edmond, OK	4.0	3.0	2350	$2,650	$1.13	25d	1	1.13mi
777 E 15th St Edmond, OK	1.0–3.0	1.0–2.0	1135	$1,866	$1.64	3d	23	1.16mi
1028 Mollie Rausch Ln Edmond, OK	3.0	2.0	1495	$1,650	$1.10	25d	1	1.25mi
1300 Cedar Vw Edmond, OK	3.0	2.5	2170	$2,115	$0.97	5d	1	1.26mi
1120 Mars Rd Edmond, OK	4.0	2.0	1917	$1,745	$0.91	5d	1	1.31mi
1800 Napa Valley Rd Edmond, OK	3.0	2.5	1901	$2,200	$1.16	25d	1	1.41mi
1321 Kelly Park Rd Edmond, OK	4.0	2.0	1991	$1,995	$1.00	3d	1	1.43mi

Listing history 3 events

1. 2026-04-13
   status Pending
2. 2026-04-03
   price $311,900
3. 2026-03-15
   listed $318,600 Active

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

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 ≥107°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: $33,864
• − Mortgage interest: −$17,471
• − Property taxes: −$4,678
• − Insurance: −$1,560
• − Repairs & maintenance: −$2,709
• − Management: −$2,709
• − Depreciation: −$9,073
• Taxable loss: −$4,337
• Est. tax savings @ 24.0%: +$1,041
• After-tax cash flow: $1,928/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained, move-in-ready duplex is in good condition with recent updates. It offers a good balance of curb appeal and interior updates, making it an attractive investment.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value
• Both replace storm doors — improves energy efficiency and security
• Resale update kitchen appliances — modernizes the kitchen and appeals to potential buyers
• Resale update bathrooms — modernizes the bathrooms and appeals to potential buyers
• Both landscaping — enhances curb appeal and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both paint exterior — enhances curb appeal and resale value ↑
• Both replace storm doors — improves energy efficiency and security ↑
• Resale update kitchen appliances — modernizes the kitchen and appeals to potential buyers ↑
• Resale update bathrooms — modernizes the bathrooms and appeals to potential buyers ↑
• Both landscaping — enhances curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 58,023
• Household income: $113,870
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 1313.0

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 (67%)
• Race & ethnicity: White 67% Two or more races 11% Black 9% Asian 7% Hispanic / Latino 5% Native American 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Vietnamese 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: ▼ -201.41%
• Current HPI: 214.2251
• Rent YoY: ▲ 3.14%
• 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

-2.1% since first listed

3 events — show timeline

• 2026-04-13 Pending — MLSOK
• 2026-04-03 Price Changed $311,900 MLSOK
• 2026-03-15 Listed $318,600 MLSOK