910 156th Ave SE · Norman, OK 73026

$149,900

4 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 3 Days on market

Built 1993 5.03 ac lot

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Livability +4.2/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CLOSE TO HWY 9 FOR EASY ACCESS TO MAJOR AMENITIES INCLUDING OU CAMPUS. SITS ON ALITTLE OVER 5 ACRES!!! HAS WELL HOUSE AND SOME OF THE LAND IS WOODED. HOUSE HAS APPLIANCES. COME SEE IT INVESTORS!! BUYERS TO VERIFY ALL INFORMATION! PROPERTY TO BE SOLD AS IS, ALL OFFERS MUST HAVE BANK OF AMERICA CREDIT APPROVAL LETTER & LENDER CREDIT APPROVAL OR PROOF OF FUNDS & EARNEST MONEY. CALL IF 203K

Key facts

• 2 dining rooms
• Close to hwy 9
• Hidden from the road

Tags

• HIDDEN FROM THE ROAD
• 2 DINING ROOMS
• CLOSE TO HWY 9
• EASY COMMUTE TO NORMAN

Property features AI

Finance

• Other: Interior lot; Approximately 5.03 acres
• Financial info: Listing terms: Cash or Conventional; Assumable loan: No
• HOA & community: No mandatory association dues

Exterior

• Parking: Additional parking; Backyard parking; Gravel parking; RV parking
• Security: Smoke alarm
• Utilities: Electricity available; Private well available; Septic tank
• Home design: Single-family residence; One-level; North-facing; Residential property; Manufactured construction
• Construction: Manufactured construction; Metal roof; Conventional foundation; Built (existing)
• Exterior features: Open deck; Outbuildings

Interior

• Kitchen: Free-standing electric range/oven
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Ceiling fans; Window treatments; In-law plan; Inside utility; Smoke alarm
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $72 ($861/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (17.4% below list).
• Recommended offer: $124k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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+.
• Noble (suburban): math 23% / reading 25% proficiency, ranked #108 of 270 in OK (top 40%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: John K Hubbard Es (math 27% / reading 27%, grade F, #311 of 845 statewide, top 40%, 646 students, 0% FRL); Curtis Inge Ms (math 18% / reading 20%, grade F, #178 of 345 statewide, top 52%, 712 students, 0% FRL); Noble Hs (math 17% / reading 27%, grade F, #222 of 447 statewide, top 52%, 883 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 193 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 $1k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y 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 $35k; list at $150k implies a 331% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major 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 $123,782 (17.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 0.83% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.53×
• Total profit: $-19,782
• Equity at exit: $22,351

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-11,590
• Equity at exit: $12,961

Cash invested: $41,972 (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 73026

• Home prices YoY: -8.5%
• Active inventory: 193
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,238 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $72

Break-even live

Break-even rent $1,147

Max offer price $149,900

Occupancy floor 89%

Sensitivity live

Price	-10% $157	-5% $114	+0% $72	+5% $29	+10% $-13
Rent	-10% $-26	-5% $23	+0% $72	+5% $121	+10% $170
Rate	-1.0pp $147	-0.5pp $110	base $72	+0.5pp $33	+1.0pp $-7

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-12
   status Pending
2. 2026-05-07
   listed $149,900 Active
3. 2012-01-27
   soldstatus $34,750 397-char remark

   Show marketing remark (397 chars)

   CLOSE TO HWY 9 FOR EASY ACCESS TO MAJOR AMENITIES INCLUDING OU CAMPUS. SITS ON ALITTLE OVER 5 ACRES!!! HAS WELL HOUSE AND SOME OF THE LAND IS WOODED. HOUSE HAS APPLIANCES. COME SEE IT INVESTORS!! BUYERS TO VERIFY ALL INFORMATION! PROPERTY TO BE SOLD AS IS, ALL OFFERS MUST HAVE BANK OF AMERICA CREDIT APPROVAL LETTER & LENDER CREDIT APPROVAL OR PROOF OF FUNDS & EARNEST MONEY. CALL IF 203K

4. 2011-12-02
   listed $39,100 397-char remark

   Show marketing remark (397 chars)

   CLOSE TO HWY 9 FOR EASY ACCESS TO MAJOR AMENITIES INCLUDING OU CAMPUS. SITS ON ALITTLE OVER 5 ACRES!!! HAS WELL HOUSE AND SOME OF THE LAND IS WOODED. HOUSE HAS APPLIANCES. COME SEE IT INVESTORS!! BUYERS TO VERIFY ALL INFORMATION! PROPERTY TO BE SOLD AS IS, ALL OFFERS MUST HAVE BANK OF AMERICA CREDIT APPROVAL LETTER & LENDER CREDIT APPROVAL OR PROOF OF FUNDS & EARNEST MONEY. CALL IF 203K

5. 2002-07-12
   soldstatus $73,000 288-char remark

   Show marketing remark (288 chars)

   NEATEST ACREAGE YOU'LL FIND AT THIS PRICE! GREAT LANDSCAPING,WALLS HAVE BEEN TEXTURED, NEW LAUNDRY TILE,SOME NEW CARPET,NEW GRAVEL DRIVE,ALL NEW LIGHT FIXTURES,CUSTOM FIREPLACE MANTLE. SELLER TO REPLACE ROOF WITH METAL IN BUYERS COLOR CHOICE. WINDOW BOXES,CURTAINS AND SATELLITE RESERVED.

6. 2002-07-12
   soldstatus $73,000

   Show marketing remark (288 chars)

   NEATEST ACREAGE YOU'LL FIND AT THIS PRICE! GREAT LANDSCAPING,WALLS HAVE BEEN TEXTURED, NEW LAUNDRY TILE,SOME NEW CARPET,NEW GRAVEL DRIVE,ALL NEW LIGHT FIXTURES,CUSTOM FIREPLACE MANTLE. SELLER TO REPLACE ROOF WITH METAL IN BUYERS COLOR CHOICE. WINDOW BOXES,CURTAINS AND SATELLITE RESERVED.

7. 2002-05-22
   listed $76,900 288-char remark

   Show marketing remark (288 chars)

   NEATEST ACREAGE YOU'LL FIND AT THIS PRICE! GREAT LANDSCAPING,WALLS HAVE BEEN TEXTURED, NEW LAUNDRY TILE,SOME NEW CARPET,NEW GRAVEL DRIVE,ALL NEW LIGHT FIXTURES,CUSTOM FIREPLACE MANTLE. SELLER TO REPLACE ROOF WITH METAL IN BUYERS COLOR CHOICE. WINDOW BOXES,CURTAINS AND SATELLITE RESERVED.

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $1,349 · $112/mo
• Expected delta: +$658/yr (+$55/mo · 95.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥109°F today · 18 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: $14,854
• − Mortgage interest: −$8,397
• − Property taxes: −$691
• − Insurance: −$750
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$4,361
• Taxable loss: −$1,721
• Est. tax savings @ 24.0%: +$413
• After-tax cash flow: $1,274/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: Noble
• NCES district ID: 4021630
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 25% ▼ -7.00%
• Median HH income: $50,812
• Composite: 21.31/100
• National rank: #8384
• State rank: #108 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
• City population: 123,141
• Population (ZIP): 11,131

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 (81%)
• Race & ethnicity: White 81% Two or more races 9% Native American 8% Hispanic / Latino 4%
• Common ancestry: Portuguese 3% Slovak 3% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -26.82%
• Current HPI: 287.5097
• 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

+94.9% since first listed

7 events — show timeline

• 2026-05-12 Pending — MLSOK
• 2026-05-07 Listed $149,900 MLSOK
• 2012-01-27 Sold (MLS) $34,750 MLSOK
• 2011-12-02 Listed $39,100 MLSOK
• 2002-07-12 Sold (Public Records) $73,000 Public Records
• 2002-07-12 Sold (MLS) $73,000 MLSOK
• 2002-05-22 Listed $76,900 MLSOK

Property tax history

+1.7%/yr

Latest (2024): $691 · +5.0% YoY. Source: county tax records.