414 Ferrill St #416 · Norman, OK 73071

$365,000

5 bd · 3.0 ba · 1,824 sqft · MultiFamily public records · 271 Days on market

Built 1940 6,098 sqft lot Est $358k · 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 +8.1/10.0
• ARV discount +6.6/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Remodeled and fully Leased triplex for sale. Located just North of the famous MONTE restaurant and a few blocks to The University of Oklahoma.

Key facts

• Triplex opportunity
• Prime location
• 6,098 sq ft lot

Tags

• TRIPLEX OPPORTUNITY
• THREE INCOME-GENERATING UNITS
• STRONG RENTAL POTENTIAL
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $365k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $486/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $365k).
• Recommended offer: $321k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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); 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $3k of loan paydown is wiped out by about $11k 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 + 2.8% rent growth), your $102k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 271 days — a 12% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask has dropped $65k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $174k; list at $365k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $321,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 11.09%
• Cash-on-cash: 17.12%
• DSCR: 1.76
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $357,504
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
414 Ferrill St #416	0.00mi	5/3.0	1,824 (0%)	1mo	$358,000	$196	99
1501 Barkley St #1503	0.56mi	5/3.0	1,891 (+4%)	6mo	$271,000	$143	63

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: 8.2%
• Equity multiple: 1.32×
• Total profit: $32,723
• Equity at exit: $54,423

10-year hold

• IRR: 17.3%
• Equity multiple: 2.41×
• Total profit: $143,948
• Equity at exit: $31,559

Cash invested: $102,200 (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: 19.1×

Monthly cashflow live

• Estimated rent: $4,774 medium
• Mortgage (P&I): −$1,914
• Tax from tax record: −$247 /mo · $2,963/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,003
• Net cashflow: $1,458

Break-even live

Break-even rent $2,928

Max offer price $365,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,665	-5% $1,562	+0% $1,458	+5% $1,355	+10% $1,252
Rent	-10% $1,081	-5% $1,270	+0% $1,458	+5% $1,647	+10% $1,836
Rate	-1.0pp $1,642	-0.5pp $1,551	base $1,458	+0.5pp $1,364	+1.0pp $1,268

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$4,773
Total (3 units)			$4,774

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 Classen Blvd Norman, OK	4.0	2.0	2018	$2,700	$1.34	5d	1	0.01mi
1301 Melisa Dr Norman, OK	4.0	2.0	1775	$2,000	$1.13	13d	1	0.57mi
1149 W Brooks St Norman, OK	1.0–4.0	1.0–2.0	1025	$1,402	$1.37	0d	5	0.80mi
1345 Columbia Cir Norman, OK	4.0	2.0	1357	$1,600	$1.18	26d	1	1.03mi
1023 Chautauqua Ave Norman, OK	4.0	1.0	1308	$2,100	$1.61	26d	1	1.09mi
106 W Mosier St Norman, OK	4.0	2.0	1762	$2,150	$1.22	26d	1	1.34mi
1716 Briarcreek Norman, OK	4.0	2.0	1734	$1,845	$1.06	17d	1	1.39mi
1508 Creekside Dr Norman, OK	4.0	2.5	1580	$1,760	$1.11	22d	1	1.43mi
1219 Leslie Ln Norman, OK	4.0	2.5	1875	$2,495	$1.33	17d	1	1.46mi
1424 Teakwood Dr Norman, OK	4.0	2.0	1842	$1,900	$1.03	26d	1	1.46mi
1222 Camden Way Norman, OK	4.0	2.0	2030	$2,600	$1.28	17d	1	1.47mi
1214 Cruce St Norman, OK	4.0	2.0	1882	$3,200	$1.70	13d	1	1.49mi

Listing history 32 events

1. 2026-01-24
   status Pending
2. 2025-09-28
   price $365,000
3. 2025-09-24
   price $395,000
4. 2025-07-25
   price $398,000
5. 2025-07-16
   price $409,999
6. 2025-06-02
   price $410,000
7. 2025-06-02
   price $41,000
8. 2025-04-26
   listed $430,000 Active
9. 2021-09-14
   soldstatus $174,000
10. 2021-09-08
    soldstatus $348,000 Sold 143-char remark

    Show marketing remark (143 chars)

    Remodeled and fully Leased triplex for sale. Located just North of the famous MONTE restaurant and a few blocks to The University of Oklahoma.

11. 2021-06-30
    status Pending 143-char remark

    Show marketing remark (143 chars)

    Remodeled and fully Leased triplex for sale. Located just North of the famous MONTE restaurant and a few blocks to The University of Oklahoma.

12. 2021-05-24
    listed $352,500 Active 143-char remark

    Show marketing remark (143 chars)

    Remodeled and fully Leased triplex for sale. Located just North of the famous MONTE restaurant and a few blocks to The University of Oklahoma.

13. 2021-01-29
    historical
14. 2020-11-23
    price $338,000
15. 2020-11-23
    status Active
16. 2020-10-02
    status Pending
17. 2020-09-28
    price $339,900
18. 2020-09-23
    price $352,900
19. 2020-09-01
    price $355,900
20. 2020-08-18
    price $359,900
21. 2020-08-16
    status Active
22. 2020-08-07
    status Pending
23. 2020-05-25
    price $362,900
24. 2020-05-12
    price $367,500
25. 2020-02-10
    listed $369,000 Active
26. 2018-08-27
    soldstatus $110,000
27. 2018-08-14
    soldstatus $110,000 Sold
28. 2018-08-07
    status Pending
29. 2018-08-07
    status Active
30. 2018-07-23
    status Pending
31. 2018-07-18
    listed $124,900 Active
32. 1999-03-31
    soldstatus $35,000

ⓘ 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: $2,963 · $247/mo
• Projected year-2 tax: $3,285 · $274/mo
• Expected delta: +$322/yr (+$27/mo · 10.9%)

ⓘ 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: $57,288
• − Mortgage interest: −$20,446
• − Property taxes: −$2,963
• − Insurance: −$1,825
• − Repairs & maintenance: −$4,583
• − Management: −$4,583
• − Depreciation: −$10,618
• Taxable income: $12,270
• Est. tax owed @ 24.0%: −$2,945
• After-tax cash flow: $14,556/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

+942.9% since first listed

32 events — show timeline

• 2026-01-24 Pending — MLSOK
• 2025-09-28 Price Changed $365,000 MLSOK
• 2025-09-24 Price Changed $395,000 MLSOK
• 2025-07-25 Price Changed $398,000 MLSOK
• 2025-07-16 Price Changed $409,999 MLSOK
• 2025-06-02 Price Changed $410,000 MLSOK
• 2025-06-02 Price Changed $41,000 MLSOK
• 2025-04-26 Listed $430,000 MLSOK
• 2021-09-14 Sold (Public Records) $174,000 Public Records
• 2021-09-08 Sold (MLS) $348,000 MLSOK
• 2021-06-30 Pending — MLSOK
• 2021-05-24 Listed $352,500 MLSOK
• 2021-01-29 Listing Removed — MLSOK
• 2020-11-23 Price Changed $338,000 MLSOK
• 2020-11-23 Relisted — MLSOK
• 2020-10-02 Pending — MLSOK
• 2020-09-28 Price Changed $339,900 MLSOK
• 2020-09-23 Price Changed $352,900 MLSOK
• 2020-09-01 Price Changed $355,900 MLSOK
• 2020-08-18 Price Changed $359,900 MLSOK
• 2020-08-16 Relisted — MLSOK
• 2020-08-07 Pending — MLSOK
• 2020-05-25 Price Changed $362,900 MLSOK
• 2020-05-12 Price Changed $367,500 MLSOK
• 2020-02-10 Listed $369,000 MLSOK
• 2018-08-27 Sold (Public Records) $110,000 Public Records
• 2018-08-14 Sold (MLS) $110,000 MLSOK
• 2018-08-07 Pending — MLSOK
• 2018-08-07 Relisted — MLSOK
• 2018-07-23 Pending — MLSOK
• 2018-07-18 Listed $124,900 MLSOK
• 1999-03-31 Sold (Public Records) $35,000 Public Records

Property tax history

+15.5%/yr

Latest (2024): $2,963 · +4.7% YoY. Source: county tax records.