1423 Bill Carrol Dr · Norman, OK 73071

$103,532

2 bd · 2.0 ba · 1,200 sqft · Townhouse public records · 33 Days on market

Built 1972 3,485 sqft lot Est $106k · at est. $220/mo HOA · 19% of rent

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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 +12.7/30.0
• ARV discount +8.4/15.0
• 1% rule +6.1/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Rent growth +3.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MUST SEE!!!! 3 bedroom, 2 1/2 bathroom Condo that has wood floors in the living area. This condo is just steps away from the pool. The living/kitchen/laundry/dining room and 1/2 bath are located downstairs. ALL 3 bedrooms and the 2 full baths are upstairs. There is a fenced patio with storage closets. The owner will be leaving the Fridge and washer/dryer for the new owner. HOA dues are only $140/month which covers the roof, exterior maintenance, insurance, and pool. New Roof as of June 2023. There are two assigned parking spaces.

Key facts

• Fenced patio
• Community pool
• Two outdoor closets

Tags

• FENCED PATIO
• TWO OUTDOOR CLOSETS
• COMMUNITY POOL
• TWO ASSIGNED PARKING SPACES
• FRIDGE AND WASHER DRYER

Property features AI

Finance

• Financial info: Loan qualifying allowed; Not assumable
• HOA & community: Mandatory association dues; Annual association fee of $2,640; Association maintains grounds and common areas and provides pool access

Exterior

• Home design: Residential townhouse; Multi-level property; Faces east; Existing property
• Construction: Brick and frame construction; Composition roof; Slab foundation
• Exterior features: Open patio; Exterior storage; Wood fencing; Campus area lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full baths and 1 half bath
• Heating & cooling: Electric heating
• Interior features: One living area; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $104k.

Deal economics

• At list price, monthly cash flow is $-12 ($-147/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (2.1% below list).
• Meets the 1% rule at list price ($1k rent vs $104k).
• Recommended offer: $100k (3.0% below list) — sets the bar for market timing.
• 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: Kennedy Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 487 students, 0% FRL); Irving Ms (math 14% / reading 20%, grade F, #193 of 345 statewide, top 60%, 788 students, 0% FRL); Norman Hs (math 27% / reading 44%, grade F, #46 of 447 statewide, top 10%, 2,137 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 (+2.8%/yr); 356 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $716 of loan paydown is wiped out by about $3k 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

• It's been on market 33 days — a 3% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 23y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,426 (3.0% 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. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.11% ✓
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $105,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1414 Bill Carrol Dr	0.03mi	2/2.5	1,200 (0%)	3mo	$94,000	$78	94
1612 Claudia Dr	0.06mi	3/2.5 (+1)	1,200 (0%)	2mo	$105,000	$88	89
215 Justin Dr	0.06mi	2/1.5	1,200 (0%)	8mo	$100,000	$83	89
205 Jason Dr	0.04mi	3/1.5 (+1)	1,200 (0%)	3mo	$80,000	$67	88
207 Justin Dr	0.05mi	2/2.5	1,200 (0%)	10mo	$108,000	$90	88
1402 Bill Carrol Dr	0.05mi	2/1.5	1,200 (0%)	12mo	$84,700	$71	86
217 Jason Dr	0.06mi	3/1.5 (+1)	1,200 (0%)	10mo	$107,000	$89	82
214 Jason Dr	0.07mi	3/1.5 (+1)	1,200 (0%)	12mo	$110,000	$92	80
1610 Cara Jo Dr	0.03mi	3/2.5 (+1)	1,200 (0%)	15mo	$119,700	$100	79
1633 Glenn Bo Dr	0.09mi	3/1.5 (+1)	1,320 (+10%)	7mo	$114,000	$86	66
401 12th Ave #135	0.35mi	2/1.5	1,120 (-7%)	14mo	$75,000	$67	59
104 Vinita Dr	0.23mi	2/2.0	1,064 (-11%)	16mo	$132,200	$124	57

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 · 2.8% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-17,647
• Equity at exit: $15,437

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-16,739
• Equity at exit: $8,952

Cash invested: $28,989 (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 73071

• Rents YoY: 2.8%
• Active inventory: 356
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,146 high
• Mortgage (P&I): −$543
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$43
• HOA: −$220
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $-12

Break-even live

Break-even rent $1,162

Max offer price $101,363

Occupancy floor 96%

Sensitivity live

Price	-10% $46	-5% $17	+0% $-12	+5% $-42	+10% $-71
Rent	-10% $-103	-5% $-58	+0% $-12	+5% $33	+10% $78
Rate	-1.0pp $40	-0.5pp $14	base $-12	+0.5pp $-39	+1.0pp $-66

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: $25,883
• Closing costs: $3,106
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 Cara Jo Dr Norman, OK	2.0	2.5	1200	$1,100	$0.92	25d	1	0.01mi
1612 Claudia Dr Norman, OK	3.0	2.5	1200	$1,350	$1.12	5d	1	0.04mi
1616 Alameda St Norman, OK	1.0–2.0	1.0–1.5	975	$980	$1.01	25d	8	0.05mi
1616 Alameda St Norman, OK	2.0	1.0–1.5	925	$938	$1.01	12d	1	0.05mi
1626 Glenn Bo Dr Norman, OK	2.0	2.5	1320	$1,150	$0.87	23d	1	0.06mi
216 Justin Dr Norman, OK	2.0	2.5	1200	$1,000	$0.83	25d	1	0.06mi
1628 Claudia Dr Norman, OK	3.0	2.5	1200	$1,250	$1.04	25d	1	0.07mi
1712 Jennifer Cir Norman, OK	3.0	1.5	1425	$1,195	$0.84	23d	1	0.13mi
1812 E Alameda St Norman, OK	1.0	1.0	906	$925	$1.02	16d	1	0.20mi
375 Triad Village Dr Norman, OK	3.0	2.0–2.5	1428	$1,425	$1.00	25d	2	0.20mi
375 Triad Village Dr Norman, OK	3.0	2.0	1428	$1,425	$1.00	23d	1	0.20mi
1812 Alameda St #221 Norman, OK	1.0	1.0	906	$925	$1.02	22d	1	0.23mi
300 Chalmette Dr Unit A Norman, OK	2.0	1.0	975	$875	$0.90	5d	1	0.26mi
1900 Dover St Unit A Norman, OK	2.0	1.0	948	$1,095	$1.16	5d	1	0.33mi
1900 Dover St Norman, OK	2.0	1.0	975	$1,200	$1.23	23d	1	0.33mi
401 12th Ave SE Norman, OK	1.0–2.0	1.0–2.0	842	$949	$1.13	5d	2	0.33mi
101 Crestland Dr Norman, OK	2.0	1.5	1100	$1,249	$1.14	3d	2	0.35mi
517 Coronado Ave Norman, OK	3.0	2.0	1207	$1,465	$1.21	5d	1	0.38mi
508 Sinclair Dr Norman, OK	2.0	2.0	1156	$895	$0.77	25d	1	0.42mi
2021 Alameda St Norman, OK	2.0	1.0–2.0	875	$1,074	$1.23	3d	10	0.44mi
627 Sinclair Dr Norman, OK	2.0	2.0	1200	$895	$0.75	25d	1	0.50mi
641 Sinclair Dr Norman, OK	2.0	2.0	1200	$750	$0.62	25d	1	0.53mi
717 Biloxi Dr Norman, OK	2.0	2.0	1000	$975	$0.97	25d	1	0.55mi
1817 Beaumont Dr Norman, OK	3.0	2.0	1100	$1,200	$1.09	25d	1	0.59mi
721 Vicksburg Ave Norman, OK	3.0	2.0	1217	$1,550	$1.27	22d	1	0.61mi
820 Richmond Dr Norman, OK	3.0	2.0	1175	$1,495	$1.27	25d	1	0.68mi
1149 W Brooks St Norman, OK	1.0–4.0	1.0–2.0	1025	$1,053	$1.03	3d	7	0.74mi
1120 Arkansas St Norman, OK	2.0	1.0	941	$850	$0.90	16d	1	0.80mi
1115 Biloxi Dr Norman, OK	1.0–2.0	1.0	818	$909	$1.11	13d	3	0.85mi
1008 Arkansas St Norman, OK	2.0	1.0	941	$850	$0.90	16d	1	0.87mi
1703 E Lindsey St Norman, OK	2.0	2.0	1101	$1,100	$1.00	25d	1	0.88mi
854 Beaumont Sq Norman, OK	3.0	2.0	1366	$1,450	$1.06	5d	1	0.92mi
900 23rd St SE Unit 18-928 Norman, OK	2.0	2.0	875	$995	$1.14	25d	1	0.92mi
900 23rd St SE Unit 08-2318 Norman, OK	2.0	2.0	875	$945	$1.08	25d	1	0.92mi
1400 E Lindsey St Norman, OK	2.0	2.5	896	$889	$0.99	25d	1	0.93mi
1116 Brandywine Ln Norman, OK	3.0	2.0	1309	$1,250	$0.95	23d	1	0.94mi
631 Welston Cir Unit 631 Norman, OK	2.0	1.5	1296	$949	$0.73	25d	1	0.95mi
829 Russell Cir Norman, OK	2.0	1.0	825	$1,000	$1.21	25d	1	0.95mi
821 Russell Cir Unit 821 Norman, OK	3.0	1.5	877	$1,050	$1.20	25d	1	0.96mi
828 Russell Cir Norman, OK	2.0	1.0	768	$1,050	$1.37	5d	1	0.97mi

HOA detail

• Monthly dues: $220 · $2,640/yr
• Likely covers: exterior maint.poolparking

Listing history 37 events

1. 2026-06-02
   statusdays on market $103,532 Pending 33 DOM
2. 2026-06-01
   days on market $103,532 Active 32 DOM
3. 2026-05-31
   days on market $103,532 Active 31 DOM
4. 2026-05-21
   price $103,532
5. 2026-04-30
   listed $106,000 Active
6. 2026-04-30
   historical
7. 2026-04-15
   status Active
8. 2026-04-02
   status Pending
9. 2026-04-01
   price $106,000
10. 2025-12-11
    listed $111,000 Active
11. 2023-07-21
    soldstatus $104,000 Closed 543-char remark

    Show marketing remark (543 chars)

    MUST SEE!!!! 3 bedroom, 2 1/2 bathroom Condo that has wood floors in the living area. This condo is just steps away from the pool. The living/kitchen/laundry/dining room and 1/2 bath are located downstairs. ALL 3 bedrooms and the 2 full baths are upstairs. There is a fenced patio with storage closets. The owner will be leaving the Fridge and washer/dryer for the new owner. HOA dues are only $140/month which covers the roof, exterior maintenance, insurance, and pool. New Roof as of June 2023. There are two assigned parking spaces.

12. 2023-06-17
    status Pending 543-char remark

    Show marketing remark (543 chars)

    MUST SEE!!!! 3 bedroom, 2 1/2 bathroom Condo that has wood floors in the living area. This condo is just steps away from the pool. The living/kitchen/laundry/dining room and 1/2 bath are located downstairs. ALL 3 bedrooms and the 2 full baths are upstairs. There is a fenced patio with storage closets. The owner will be leaving the Fridge and washer/dryer for the new owner. HOA dues are only $140/month which covers the roof, exterior maintenance, insurance, and pool. New Roof as of June 2023. There are two assigned parking spaces.

13. 2023-06-15
    listed $105,000 Active 543-char remark

    Show marketing remark (543 chars)

    MUST SEE!!!! 3 bedroom, 2 1/2 bathroom Condo that has wood floors in the living area. This condo is just steps away from the pool. The living/kitchen/laundry/dining room and 1/2 bath are located downstairs. ALL 3 bedrooms and the 2 full baths are upstairs. There is a fenced patio with storage closets. The owner will be leaving the Fridge and washer/dryer for the new owner. HOA dues are only $140/month which covers the roof, exterior maintenance, insurance, and pool. New Roof as of June 2023. There are two assigned parking spaces.

14. 2023-01-06
    soldstatus $104,999 Closed
15. 2022-12-10
    status Pending
16. 2022-11-30
    price $104,999
17. 2022-11-24
    listed $105,000 Active
18. 2017-05-15
    soldstatus $60,000
19. 2017-05-12
    soldstatus $60,000 Sold
20. 2017-04-10
    status Pending
21. 2017-01-13
    status Active
22. 2016-10-17
    status Pending
23. 2016-10-14
    listed $63,500 Active
24. 2011-07-23
    historical
25. 2011-02-07
    listed $62,900
26. 2011-01-30
    historical
27. 2010-09-06
    listed $62,900
28. 2006-12-18
    soldstatus $60,000
29. 2006-12-13
    soldstatus $60,000
30. 2006-10-15
    listed $61,900
31. 2005-03-07
    soldstatus $56,000
32. 2005-03-04
    soldstatus $57,000
33. 2005-01-18
    listed $57,000
34. 2003-03-11
    soldstatus $38,500
35. 2003-03-03
    soldstatus $38,500
36. 2003-01-28
    listed $40,000
37. 1996-09-04
    soldstatus $18,000

ⓘ 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: $1,341 · $112/mo
• Projected year-2 tax: $1,341 · $112/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 · 20 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: $13,755
• − Mortgage interest: −$5,799
• − Property taxes: −$1,341
• − Insurance: −$518
• − Repairs & maintenance: −$1,100
• − Management: −$1,100
• − HOA: −$2,640
• − Depreciation: −$3,012
• Taxable loss: −$1,756
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $274/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): 43,798
• Household income: $64,007
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 1903.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 8% Hispanic / Latino 8% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Serbian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 5% 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: ▼ -187.04%
• Current HPI: 249.3797
• Rent YoY: ▲ 2.80%
• 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

+475.2% since first listed

34 events — show timeline

• 2026-05-21 Price Changed $103,532 MLSOK
• 2026-04-30 Listing Removed — MLSOK
• 2026-04-30 Listed $106,000 MLSOK
• 2026-04-15 Relisted — MLSOK
• 2026-04-02 Pending — MLSOK
• 2026-04-01 Price Changed $106,000 MLSOK
• 2025-12-11 Listed $111,000 MLSOK
• 2023-07-21 Sold (MLS) $104,000 MLSOK
• 2023-06-17 Pending — MLSOK
• 2023-06-15 Listed $105,000 MLSOK
• 2023-01-06 Sold (MLS) $104,999 MLSOK
• 2022-12-10 Pending — MLSOK
• 2022-11-30 Price Changed $104,999 MLSOK
• 2022-11-24 Listed $105,000 MLSOK
• 2017-05-15 Sold (Public Records) $60,000 Public Records
• 2017-05-12 Sold (MLS) $60,000 MLSOK
• 2017-04-10 Pending — MLSOK
• 2017-01-13 Relisted — MLSOK
• 2016-10-17 Pending — MLSOK
• 2016-10-14 Listed $63,500 MLSOK
• 2011-07-23 Listing Removed — MLSOK
• 2011-02-07 Listed $62,900 MLSOK
• 2011-01-30 Listing Removed — MLSOK
• 2010-09-06 Listed $62,900 MLSOK
• 2006-12-18 Sold (Public Records) $60,000 Public Records
• 2006-12-13 Sold (MLS) $60,000 MLSOK
• 2006-10-15 Listed $61,900 MLSOK
• 2005-03-07 Sold (Public Records) $56,000 Public Records
• 2005-03-04 Sold (MLS) $57,000 MLSOK
• 2005-01-18 Listed $57,000 MLSOK
• 2003-03-11 Sold (MLS) $38,500 MLSOK
• 2003-03-03 Sold (Public Records) $38,500 Public Records
• 2003-01-28 Listed $40,000 MLSOK
• 1996-09-04 Sold (Public Records) $18,000 Public Records

Property tax history

+5.7%/yr

Latest (2024): $1,341 · +68.0% YoY. Source: county tax records.