626 Rancho Dr · Norman, OK 73071

$99,900

2 bd · 1.0 ba · 740 sqft · SingleFamily public records · 1 Days on market

Built 1952 7,841 sqft lot Est $118k · 16% under

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Why this score? — see what drove the B- 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 +25.2/30.0
• ARV discount +14.5/15.0
• DSCR +8.3/10.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOADS of POTENTIAL in this Charming little bungalow, walking distance to shops and restaurants, AND just a few minutes to the University! Original & refinished wood floors. Large backyard with storm shelter and shed/shop. Large carport and double wide concrete driveway. Sellers installed 4 mini-splits a few years ago--CHA still worked at that time but hasn't been used since. Needs a little work to be perfect but priced accordingly and for a quick sale! Seller prefers as-is offers and will not be able to make any repairs.

Key facts

• Large backyard
• Storm shelter
• Large carport

Tags

• WALKING DISTANCE TO SHOPS
• LARGE BACKYARD
• STORM SHELTER
• SHED SHOP
• LARGE CARPORT
• DOUBLE WIDE CONCRETE DRIVEWAY

Property features AI

Finance

• Other: Vacant and available; Located in the Hanly addition
• Financial info: Sold as-is; acceptable financing: Cash or Conventional; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking; 1-car garage
• Utilities: Public utilities; Below-ground/outdoor storm shelter
• Home design: Single-family residence; One level; Faces east; Residential property
• Construction: Frame construction with vinyl siding; Composition roof (replaced/updated 2023); Conventional foundation; Existing property
• Exterior features: Open patio; Outbuilding(s); Combination fencing; Interior lot

Interior

• Kitchen: Freestanding gas range and oven
• Bedrooms: 2 bedrooms
• Flooring: Wood; Combination
• Bathrooms: 1 full bathroom
• Heating & cooling: Zoned heating; Zoned cooling
• Interior features: Dishwasher; Garbage disposal; Combination of flooring types; Wood flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 9.0% 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: Lincoln Es (math 42% / reading 37%, grade F, #107 of 845 statewide, top 14%, 283 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); 350 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $691 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $36k; list at $100k implies a 174% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• 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 $99,900

Questions for the listing agent

1. Built in 1952 — 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. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.59%
• DSCR: 1.43
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $118,400
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 S Stewart Ave	0.47mi	2/1.0	750 (+1%)	8mo	$159,900	$213	69
320 S Cook Ave	0.48mi	2/1.0	720 (-3%)	6mo	$115,000	$160	68
629 Tollie Dr	0.08mi	2/1.0	840 (+14%)	8mo	$140,000	$167	67
1505 Morland Ave	0.51mi	2/1.0	721 (-3%)	13mo	$95,000	$132	61
401 SE 12th St #217	0.34mi	1/1.0 (-1)	756 (+2%)	23mo	$60,000	$79	57
517 E Linn St	0.46mi	2/1.0	776 (+5%)	17mo	$135,000	$174	56
914 E Eufaula	0.48mi	2/1.0	648 (-12%)	6mo	$116,000	$179	52
408 S Cook Ave	0.42mi	2/1.0	800 (+8%)	22mo	$99,000	$124	49
433 E Apache St	0.55mi	1/1.0 (-1)	644 (-13%)	8mo	$90,000	$140	41
1028 E Main St	0.64mi	2/2.0	786 (+6%)	20mo	$87,000	$111	39

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-2,208
• Equity at exit: $14,895

10-year hold

• IRR: 7.4%
• Equity multiple: 1.55×
• Total profit: $15,369
• Equity at exit: $8,638

Cash invested: $27,972 (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 73071

• Rents YoY: 2.8%
• Active inventory: 350
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,027 high
• Mortgage (P&I): −$524
• Tax from tax record: −$22 /mo · $265/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $223

Break-even live

Break-even rent $744

Max offer price $99,900

Occupancy floor 73%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 Alameda St Norman, OK	1.0–2.0	1.0–1.5	975	$980	$1.01	23d	8	0.54mi
1149 W Brooks St Norman, OK	1.0–4.0	1.0–2.0	1025	$1,053	$1.03	1d	7	0.61mi
1106 Arkansas St Norman, OK	1.0	1.0	568	$725	$1.28	23d	1	0.64mi
2023 Delaware Ln Norman, OK	2.0	1.0	720	$1,000	$1.39	23d	1	0.79mi
819 E Lindsey St Norman, OK	2.0	1.0	700	$850	$1.21	1d	1	0.83mi
1744 Classen Blvd Unit 2 Norman, OK	1.0	1.0	550	$750	$1.36	3d	1	0.85mi
746 S Jenkins Ave Unit 1/2 Norman, OK	1.0	1.0	500	$825	$1.65	14d	1	0.86mi
1115 Biloxi Dr Norman, OK	1.0–2.0	1.0	818	$909	$1.11	11d	3	0.89mi
430 E Tonhawa St Norman, OK	1.0	1.0	600	$875	$1.46	19d	1	0.91mi
430 E Tonhawa St Norman, OK	1.0	1.0	600	$875	$1.46	23d	1	0.91mi
203 E Brooks St Norman, OK	1.0	1.0	605	$1,000	$1.65	23d	1	0.92mi
602 Tiffin Ave Norman, OK	2.0	1.0	720	$1,249	$1.73	10d	1	0.96mi
1502 E Lindsey St Norman, OK	1.0–2.0	1.0–2.0	755	$989	$1.31	2d	1	1.07mi
217 E Daws St Unit B Norman, OK	1.0	1.0	650	$900	$1.38	23d	1	1.09mi
222 S University Blvd Unit 2 Norman, OK	2.0	2.0	685	$2,055	$3.00	14d	1	1.15mi
222 S University Blvd Norman, OK	1.0	1.0	695	$2,275	$3.27	23d	1	1.15mi
213 Farmer St Unit 213 Norman, OK	2.0	1.0	700	$1,500	$2.14	3d	1	1.17mi
420 W Comanche St Norman, OK	1.0	1.0	580	$1,200	$2.07	14d	1	1.20mi
500 Stinson St Norman, OK	2.0	1.0	696	$1,000	$1.44	23d	1	1.23mi
303 E Himes St Unit 2 Norman, OK	2.0	1.0	671	$1,045	$1.56	23d	1	1.34mi
127 W Acres St Apt E Norman, OK	1.0	1.0	710	$850	$1.20	3d	1	1.41mi

Listing history 2 events

1. 2026-06-18
   remarks 528-char remark
2. 2026-06-18
   listed $99,900 Active 1 DOM

ⓘ 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: $265 · $22/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$634/yr (+$53/mo · 239.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°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: $12,320
• − Mortgage interest: −$5,596
• − Property taxes: −$265
• − Insurance: −$500
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$2,906
• Taxable income: $1,082
• Est. tax owed @ 24.0%: −$260
• After-tax cash flow: $2,422/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

+173.7% since first listed

2 events — show timeline

• 2026-06-18 Listed $99,900 MLSOK
• 1984-01-01 Sold (Public Records) $36,500 Public Records

Property tax history

+0.2%/yr

Latest (2024): $265 · -0.4% YoY. Source: county tax records.