3713 River Oaks Dr · Norman, OK 73072

$199,900

3 bd · 2.0 ba · 1,375 sqft · SingleFamily public records · 2 Days on market

Built 1980 4,356 sqft lot Est $209k · 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 +12.8/30.0
• ARV discount +9.5/15.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Rent growth +3.7/5.0
• 1% rule +2.9/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS THE ONE YOU'RE LOOKING FOR! ONE FLOOR, FIREPLACE, GREAT PATIO AREA, SOME NEW CARPET. BRIGHT! BACK GARDEN AREA IS NEGLECTED, BUT COULD BE CHARMING. PRIVATE AND COZY!

Key facts

• Private bath
• Natural light
• Wet bar feature

Tags

• WET BAR FEATURE
• AMPLE CABINET SPACE
• BAR SEATING
• NATURAL LIGHT
• PRIVATE BATH
• EASY ACCESS TO I-35

Property features AI

Finance

• Other: Located in the Cedar Ridge addition; Interior living area reported as 1,375 (assessor); Occupied; No storm shelter; Not historically designated
• Financial info: Loan financing available; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Attached 2-car garage
• Utilities: Electricity available; Natural gas available
• Home design: Single-family residence; One level; Residential property
• Construction: Brick and frame with vinyl siding; Composition roof; Slab foundation; Existing property
• Exterior features: Covered patio; Interior lot

Interior

• Kitchen: Free-standing electric range/oven
• Bedrooms: 3 bedrooms
• Flooring: Combo flooring; Tile flooring; Wood flooring
• Bathrooms: 2 full bathrooms
• Interior features: One living area; Dining area; Gas log fireplace; Combination, tile, and wood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-19 ($-224/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (21.0% below list).
• Recommended offer: $158k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Truman Es (math 30% / reading 29%, grade F, #255 of 845 statewide, top 35%, 333 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.
• Market conditions: Rents rising fast (+4.8%/yr); 377 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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 $120k; list at $200k implies a 67% 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 $157,870 (21.0% 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. 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: 0.79% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $209,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 Rambling Oaks Dr	0.46mi	3/2.0	1,394 (+1%)	1mo	$325,000	$233	76
3799 Apex Ct	0.34mi	2/2.0 (-1)	1,460 (+6%)	2mo	$222,000	$152	67
505 Trinidad Dr	0.62mi	3/2.0	1,422 (+3%)	0mo	$210,000	$148	66
4027 Green Hills Dr	0.41mi	3/2.0	1,408 (+2%)	14mo	$193,000	$137	65
115 Willoway Dr	0.53mi	3/2.0	1,354 (-2%)	9mo	$205,000	$151	65
408 Midland Dr	0.53mi	3/2.0	1,337 (-3%)	11mo	$205,000	$153	62
805 Bass Ct	0.57mi	3/2.0	1,495 (+9%)	3mo	$225,000	$151	57
3786 Apex Ct	0.35mi	2/2.0 (-1)	1,487 (+8%)	14mo	$235,000	$158	53
3805 Tudor Cir	0.72mi	3/2.0	1,459 (+6%)	6mo	$209,900	$144	51
817 Branchwood Ct	0.53mi	3/2.0	1,225 (-11%)	13mo	$205,000	$167	46
3313 Resh Ct	0.45mi	3/1.5	1,182 (-14%)	10mo	$140,000	$118	46
4404 Midway St	0.65mi	3/2.0	1,566 (+14%)	5mo	$245,000	$156	43

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.45×
• Total profit: $-30,767
• Equity at exit: $29,806

10-year hold

• IRR: -4.1%
• Equity multiple: 0.71×
• Total profit: $-16,342
• Equity at exit: $17,284

Cash invested: $55,972 (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 73072

• Rents YoY: 4.8%
• Active inventory: 377
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,579 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-19

Break-even live

Break-even rent $1,602

Max offer price $196,603

Occupancy floor 96%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 36th Ave NW Norman, OK	3.0	2.0	1520	$1,395	$0.92	11d	1	0.36mi
300 36th Ave SW Norman, OK	1.0–3.0	1.0–2.5	969	$1,848	$1.91	1d	1	0.41mi
612 Springwood St Norman, OK	3.0	2.0	1268	$1,395	$1.10	14d	1	0.43mi
4201 Colony Dr Norman, OK	3.0	2.0	1520	$1,395	$0.92	23d	1	0.48mi
847 Rambling Oaks Dr Norman, OK	3.0	2.5	1469	$1,700	$1.16	23d	1	0.56mi
4307 Monticello Rd Norman, OK	2.0	2.0	1117	$1,275	$1.14	3d	1	0.57mi
3213 Barley Ct Norman, OK	3.0	2.5	1695	$1,680	$0.99	23d	1	0.60mi
102 Harvard Rd Unit 102 Norman, OK	2.0	2.5	1100	$1,200	$1.09	23d	1	0.64mi
304 Eccell Ct Norman, OK	3.0	2.0	1573	$1,750	$1.11	3d	1	0.72mi
4222 Willowisp Dr Norman, OK	2.0	1.0	885	$1,100	$1.24	23d	1	0.74mi
309 Hood Ct Norman, OK	3.0	2.0	1576	$1,750	$1.11	23d	1	0.74mi
4517 Newport Dr Norman, OK	3.0	2.0	1810	$1,800	$0.99	23d	1	0.77mi
213 Pinafore Dr Norman, OK	3.0	2.0	1404	$1,800	$1.28	23d	1	0.82mi
2313 Crestmont St Norman, OK	2.0	2.0	900	$975	$1.08	23d	1	1.05mi
515 24th Ave NW Norman, OK	2.0	1.0–1.5	975	$1,034	$1.06	3d	2	1.08mi
4917 Baker St Norman, OK	3.0	2.0	1745	$2,000	$1.15	23d	1	1.16mi
4917 Baker St Norman, OK	3.0	2.0	1745	$2,000	$1.15	3d	1	1.16mi
3001 Pheasant Run Rd Norman, OK	1.0–2.0	1.0–2.0	700	$1,189	$1.70	3d	8	1.20mi
301 Hal Muldrow Dr Norman, OK	1.0–2.0	1.0–2.0	857	$1,100	$1.28	1d	6	1.33mi
4721 Persimmon Ct Norman, OK	3.0	2.0	1584	$1,800	$1.14	3d	1	1.41mi
202 Thompson Dr Norman, OK	3.0	1.5	942	$1,600	$1.70	23d	1	1.42mi
208 Thompson Dr Norman, OK	2.0	1.5	982	$1,400	$1.43	23d	1	1.42mi
214 Thompson Dr Norman, OK	3.0	1.5	922	$1,600	$1.74	23d	1	1.43mi

Listing history 7 events

1. 2026-05-15
   status Pending
2. 2026-05-13
   listed $199,900 Active
3. 2005-10-26
   soldstatus $119,500
4. 2005-10-25
   soldstatus $119,500 172-char remark

   Show marketing remark (172 chars)

   THIS IS THE ONE YOU'RE LOOKING FOR! ONE FLOOR, FIREPLACE, GREAT PATIO AREA, SOME NEW CARPET. BRIGHT! BACK GARDEN AREA IS NEGLECTED, BUT COULD BE CHARMING. PRIVATE AND COZY!

5. 2005-08-29
   historical 172-char remark

   Show marketing remark (172 chars)

   THIS IS THE ONE YOU'RE LOOKING FOR! ONE FLOOR, FIREPLACE, GREAT PATIO AREA, SOME NEW CARPET. BRIGHT! BACK GARDEN AREA IS NEGLECTED, BUT COULD BE CHARMING. PRIVATE AND COZY!

6. 2005-08-20
   listed $119,500 172-char remark

   Show marketing remark (172 chars)

   THIS IS THE ONE YOU'RE LOOKING FOR! ONE FLOOR, FIREPLACE, GREAT PATIO AREA, SOME NEW CARPET. BRIGHT! BACK GARDEN AREA IS NEGLECTED, BUT COULD BE CHARMING. PRIVATE AND COZY!

7. 2000-11-09
   soldstatus $98,000

ⓘ 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: $1,611 · $134/mo
• Projected year-2 tax: $1,799 · $150/mo
• Expected delta: +$188/yr (+$16/mo · 11.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $18,944
• − Mortgage interest: −$11,198
• − Property taxes: −$1,611
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$5,815
• Taxable loss: −$3,710
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $666/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): 50,881
• Household income: $78,546
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2491.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 10% Hispanic / Latino 8% Asian 6% Native American 4% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 2%
• Foreign-born: 7% · China, Canada, Dominican Republic
• Languages at home: 89% English-only · Spanish 4% Chinese 3% Other Indo-European 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: ▼ -190.27%
• Current HPI: 221.8007
• Rent YoY: ▲ 4.77%
• 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

+104.0% since first listed

7 events — show timeline

• 2026-05-15 Pending — MLSOK
• 2026-05-13 Listed $199,900 MLSOK
• 2005-10-26 Sold (Public Records) $119,500 Public Records
• 2005-10-25 Sold (MLS) $119,500 MLSOK
• 2005-08-29 Listing Removed — MLSOK
• 2005-08-20 Listed $119,500 MLSOK
• 2000-11-09 Sold (Public Records) $98,000 Public Records

Property tax history

+2.2%/yr

Latest (2024): $1,611 · +2.9% YoY. Source: county tax records.