18001 SE 164th · Oklahoma City, OK 74857

$129,900

3 bd · 2.0 ba · 1,064 sqft · SingleFamily · 6 Days on market

Built 1985 Fair condition 5.00 ac lot Est $124k · at est.

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +5.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover the perfect blend of serene country living and recreational convenience with this tranquil 5-acre property near Lake Thunderbird, offering ample space for a private retreat while keeping you just minutes from boating, hiking, and fishing. Surrounded by nature, this setting is perfect for watching local wildlife—including deer—from a peaceful, quiet backyard setting, yet only a short drive from the amenities of Norman and 15-20 minutes to major highways. These expansive, often wooded plots offer the ideal foundation for building a dream home, a weekend getaway with a fire pit, or establishing a small hobby farm with room for gardens and animals. Mobile home is in as-is c

Key facts

• Small hobby farm
• Private retreat
• 5 acre property

Tags

• 5 ACRE PROPERTY
• NEAR LAKE THUNDERBIRD
• PRIVATE RETREAT
• PEACEFUL BACKYARD SETTING
• EXPANSIVE WOODED PLOTS
• SMALL HOBBY FARM

Property features AI

Finance

• Other: Property on approximately 5 acres; Legal description available; Listing marked active and not occupied
• Financial info: Sold as-is; cash offers accepted; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: No parking details provided
• Security: No storm shelter
• Utilities: No utility details provided
• Home design: Single-family residence; One-level
• Construction: Manufactured construction; Composition roof; Conventional foundation; Built as existing (pre-owned)
• Exterior features: Outbuildings; Corner lot

Interior

• Kitchen: Electric freestanding range and oven; Dishwasher
• Bedrooms: 3 bedrooms
• Flooring: Carpet flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Model home; Dishwasher; No fireplace
• Laundry & utility: Conventional foundation

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 11.8% vs local median 3.7% in Oklahoma City — 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 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Little Axe (rural): math 10% / reading 14% proficiency, ranked #236 of 270 in OK (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Little Axe Es (math 10% / reading 14%, grade F, #667 of 845 statewide, top 82%, 587 students, 0% FRL); Little Axe Hs (math 8% / reading 22%, grade F, #332 of 447 statewide, top 78%, 331 students, 0% FRL) — zoned schools average 0% FRL vs 63% district-wide (63 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 96 active listings in the ZIP; 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 $898 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.46% ✓
• Cap rate: 11.82%
• Cash-on-cash: 19.74%
• DSCR: 1.88
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $124,488
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18001 SE 164th	0.00mi	3/2.0	1,064 (0%)	0mo	$125,000	$117	100

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.47×
• Total profit: $17,081
• Equity at exit: $19,369

10-year hold

• IRR: 20.8%
• Equity multiple: 2.76×
• Total profit: $64,051
• Equity at exit: $11,231

Cash invested: $36,372 (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 74857

• Home prices YoY: -10.6%
• Active inventory: 96
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,894 medium
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $598

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 63%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-17
   status Pending
2. 2026-05-11
   listed $129,900 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 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: $22,723
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,818
• − Management: −$1,818
• − Depreciation: −$3,779
• Taxable income: $5,434
• Est. tax owed @ 24.0%: −$1,304
• After-tax cash flow: $5,875/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 · 13 photos

Fair 45/100 Moderate rehab

This property requires significant repairs and updates to its kitchen, bathrooms, exterior, and landscaping. While the location is ideal for a private retreat, the current condition will likely deter potential buyers and renters. Investing in these updates will significantly increase its resale and rental value.

Repairs flagged

• Major Kitchen countertops and cabinets — The kitchen appears outdated and in need of replacement.
• Major Bathroom fixtures and tile — The bathrooms have dated fixtures and tile that need updating.
• Major Roof — The roof appears to be in need of repair or replacement.
• Major Exterior siding — The exterior siding is peeling and in need of repair.
• Major Flooring — The flooring in the living areas is carpeted and appears worn.
• Major Landscaping and fencing — The landscaping is overgrown and the fencing is in need of repair.

Value-add opportunities

• Resale Updating the kitchen with new countertops and cabinets — A modern kitchen will attract more buyers and increase the home's value.
• Resale Updating the bathrooms with new fixtures and tile — Modern bathrooms will appeal to potential buyers and increase the home's value.
• Both Repairing and painting the exterior siding — Aesthetic improvements to the exterior will enhance curb appeal and attract more renters.
• Both Landscaping and trimming overgrown areas — A well-maintained yard will improve curb appeal and attract more renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · The kitchen appears outdated and in need of replacement.	Major	$15,000–50,000
Bathroom fixtures and tile · The bathrooms have dated fixtures and tile that need updating.	Major	$15,000–50,000
Roof · The roof appears to be in need of repair or replacement.	Major	$15,000–50,000
Exterior siding · The exterior siding is peeling and in need of repair.	Major	$15,000–50,000
Flooring · The flooring in the living areas is carpeted and appears worn.	Major	$15,000–50,000
Landscaping and fencing · The landscaping is overgrown and the fencing is in need of repair.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Updating the kitchen with new countertops and cabinets — A modern kitchen will attract more buyers and increase the home's value. ↑
• Resale Updating the bathrooms with new fixtures and tile — Modern bathrooms will appeal to potential buyers and increase the home's value. ↑
• Both Repairing and painting the exterior siding — Aesthetic improvements to the exterior will enhance curb appeal and attract more renters. ↑
• Both Landscaping and trimming overgrown areas — A well-maintained yard will improve curb appeal and attract more renters. ↑

ⓘ 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: Little Axe
• NCES district ID: 4017880
• Math proficiency: 10% ▼ -17.00%
• Reading proficiency: 14% ▼ -13.00%
• Median HH income: $51,174
• Composite: 11.38/100
• National rank: #9708
• State rank: #236 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• City population: 498,656
• Population (ZIP): 9,902

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Native American 8% Hispanic / Latino 4% Black 2%
• Common ancestry: Slovak 2% Iranian 2% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -33.83%
• Current HPI: 284.6727
• Rent YoY: —
• Metro: —
• 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

• 2026-05-17 Pending — MLSOK
• 2026-05-11 Listed $129,900 MLSOK