1605 Cinderella Ave · Norman, OK 73072

$173,500

3 bd · 2.0 ba · 1,804 sqft · SingleFamily public records · 1 Days on market

Built 1971 9,583 sqft lot Est $332k · 48% 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 +26.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.7/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained 3-bedroom, 3-bath home located in a desirable neighborhood close to schools, shopping, dining, and everyday conveniences. This spacious home offers a functional layout with comfortable living spaces, generous bedroom sizes, and plenty of natural light throughout. The kitchen provides ample cabinet and counter space, flowing easily into the main living and dining areas — ideal for both everyday living and entertaining. Each bedroom offers privacy and comfort, while all three bathrooms add convenience for family and guests. Step outside to enjoy a well-kept yard in an established neighborhood known for its welcoming atmosphere and convenient location. Whether you'

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1971

Property features AI

Finance

• Other: Occupied; Home warranty not included
• Financial info: Loan qualification allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Asphalt driveway; 2-car garage
• Utilities: No flood insurance required (per listing); Homestead exemption applied
• Home design: Single-family residence; One story; Property faces west; Existing property
• Construction: Brick and frame construction; Composition roof; Slab foundation
• Exterior features: Interior lot; No notable exterior features listed

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating
• Interior features: Two living areas; One wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $174k).
• Cap rate 9.4% 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: Cleveland Es (math 39% / reading 37%, grade F, #126 of 845 statewide, top 15%, 554 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 fast (+4.8%/yr); 377 active listings in the ZIP; 16 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).
• This rent runs 31% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $173,500

Questions for the listing agent

1. Built in 1971 — 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: 1.17% ✓
• Cap rate: 9.38%
• Cash-on-cash: 11.01%
• DSCR: 1.49
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $331,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1605 Cinderella Ave	0.00mi	3/2.5	1,804 (0%)	1mo	$143,000	$79	98
1315 Beverly Hills St	0.14mi	3/2.0	1,944 (+8%)	2mo	$280,000	$144	79
1317 Cherry Laurel Dr	0.29mi	3/2.0	1,920 (+6%)	0mo	$366,500	$191	76
1109 Westbrooke Ter	0.23mi	3/2.5	1,712 (-5%)	5mo	$308,000	$180	75
2629 Acacia Ct	0.49mi	3/2.0	1,779 (-1%)	2mo	$295,000	$166	73
2502 E Cypress Ave	0.30mi	3/2.0	1,695 (-6%)	6mo	$312,000	$184	71
2719 Hollywood Ave	0.57mi	3/2.0	1,959 (+9%)	1mo	$395,000	$202	58
1123 W Brooks Dr	0.63mi	4/3.0 (+1)	1,850 (+2%)	5mo	$600,000	$324	53
832 Oakbrook Dr	0.55mi	4/4.0 (+1)	1,930 (+7%)	1mo	$580,000	$301	49
1447 Homeland Ave	0.59mi	4/3.0 (+1)	1,960 (+9%)	4mo	$299,500	$153	45
1617 Avondale Dr	0.63mi	4/2.5 (+1)	2,016 (+12%)	2mo	$295,000	$146	43
1424 Avondale Dr	0.53mi	4/3.5 (+1)	1,556 (-14%)	4mo	$410,000	$263	38

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,946
• Equity at exit: $25,869

10-year hold

• IRR: 13.3%
• Equity multiple: 2.14×
• Total profit: $55,617
• Equity at exit: $15,001

Cash invested: $48,580 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,025 high
• Mortgage (P&I): −$910
• Tax from tax record: −$172 /mo · $2,066/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $446

Break-even live

Break-even rent $1,461

Max offer price $173,500

Occupancy floor 73%

Sensitivity live

Price	-10% $544	-5% $495	+0% $446	+5% $397	+10% $347
Rent	-10% $286	-5% $366	+0% $446	+5% $526	+10% $606
Rate	-1.0pp $533	-0.5pp $490	base $446	+0.5pp $401	+1.0pp $355

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: $43,375
• Closing costs: $5,205
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1213 Westbrooke Ter Norman, OK	3.0	2.0	1612	$2,100	$1.30	24d	1	0.14mi
1639 Westbrooke Ter Norman, OK	3.0	2.0	1260	$2,100	$1.67	24d	1	0.32mi
1208 Avondale Dr Norman, OK	3.0	1.0	1388	$1,600	$1.15	15d	1	0.42mi
1314 Sycamore St Norman, OK	3.0	2.0	1380	$2,400	$1.74	22d	1	0.48mi
1230 Caddell Ln Norman, OK	4.0	2.0	1484	$2,100	$1.42	24d	1	0.65mi
1023 Chautauqua Ave Norman, OK	4.0	1.0	1308	$2,100	$1.61	24d	1	0.69mi
1214 Cruce St Norman, OK	4.0	2.0	1882	$3,200	$1.70	12d	1	0.70mi
1219 Leslie Ln Norman, OK	4.0	2.5	1875	$2,495	$1.33	15d	1	0.79mi
2073 W Lindsey St Norman, OK	1.0–3.0	1.0–2.5	945	$1,299	$1.37	24d	1	0.81mi
1205 Westlawn Dr Norman, OK	3.0	1.5	1440	$1,600	$1.11	24d	1	1.01mi
1215 Westlawn Dr Norman, OK	3.0	2.0	1795	$2,195	$1.22	15d	1	1.01mi
1222 Camden Way Norman, OK	4.0	2.0	2030	$2,600	$1.28	15d	1	1.05mi
1530 Melrose Dr Norman, OK	3.0	1.0	1266	$1,400	$1.11	24d	1	1.17mi
1404 Melrose Dr Norman, OK	3.0	2.0	2259	$1,925	$0.85	24d	1	1.17mi
3318 Ridgecrest Cir Unit 3318 Norman, OK	2.0	2.0	1275	$1,295	$1.02	4d	1	1.20mi
3320 Ridgecrest Cir Unit 3322 Norman, OK	2.0	2.0	1375	$1,295	$0.94	15d	1	1.21mi

Listing history 2 events

1. 2026-05-04
   status Pending
2. 2026-04-30
   listed $173,500 Active

ⓘ 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: $2,066 · $172/mo
• Projected year-2 tax: $2,066 · $172/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 · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $24,304
• − Mortgage interest: −$9,719
• − Property taxes: −$2,066
• − Insurance: −$868
• − Repairs & maintenance: −$1,944
• − Management: −$1,944
• − Depreciation: −$5,047
• Taxable income: $2,716
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $4,697/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

2 events — show timeline

• 2026-05-04 Pending — MLSOK
• 2026-04-30 Listed $173,500 MLSOK

Property tax history

+1.2%/yr

Latest (2024): $2,066 · +2.8% YoY. Source: county tax records.