205 Taz Ave · Morrison, OK 73061

$185,000

3 bd · 2.0 ba · 1,687 sqft · SingleFamily public records · 32 Days on market

Built 1975 Est $209k · 12% under

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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).

• ARV discount +12.7/15.0
• Cash flow +9.7/30.0
• Appreciation +8.2/10.0
• Livability +3.1/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0

Listing remarks MLS

Located on a large corner lot, this home has a lot to offer. Enjoy 2 living areas with a fireplace, new vinyl and carpet flooring, ADA accessible bathroom in master, new fixtures, abundance of storage, all under a new roof. Don't miss this opportunity, call today for a showing.

Key facts

• Storage building
• Carport
• Updated home

Tags

• UPDATED HOME
• NEWLY REMODELED KITCHEN
• CORNER LOT
• CARPORT
• STORAGE BUILDING
• STORM CELLAR

Property features AI

Exterior

• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property
• Exterior features: Composition roof; Irregular lot shape

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Electric heating
• Interior features: Security system

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (11.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (30.4% below list).
• Recommended offer: $129k (30.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#267 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Morrison (rural): math 31% / reading 26% proficiency, ranked #65 of 270 in OK (top 24%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morrison Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 339 students, 0% FRL); Morrison Ms (math 12% / reading 12%, grade F, #269 of 345 statewide, top 79%, 88 students, 0% FRL); Morrison Hs (math 24% / reading 44%, grade F, #48 of 447 statewide, top 14%, 176 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 24 active listings in the ZIP; 4 units permitted in Noble County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.3% local appreciation)).
• Noble County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,721 (30.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.70% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $209,188
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
102 Taz Ave	0.12mi	3/2.0	1,680 (-0%)	2mo	$182,500	$109	92
902 Mary	0.07mi	3/2.5	1,932 (+14%)	1mo	$240,000	$124	70
318 Osel St	0.21mi	4/2.0 (+1)	1,524 (-10%)	5mo	$205,000	$135	65

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.96×
• Total profit: $49,558
• Equity at exit: $120,440

10-year hold

• IRR: 14.2%
• Equity multiple: 3.91×
• Total profit: $150,704
• Equity at exit: $222,079

Cash invested: $51,800 (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 73061

• Home prices YoY: 2.6%
• Active inventory: 24
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,287 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-121

Break-even live

Break-even rent $1,440

Max offer price $163,696

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-68	+0% $-121	+5% $-173	+10% $-225
Rent	-10% $-222	-5% $-171	+0% $-121	+5% $-70	+10% $-19
Rate	-1.0pp $-27	-0.5pp $-74	base $-121	+0.5pp $-169	+1.0pp $-217

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-07
   statusdays on market $185,000 Pending 32 DOM
2. 2026-06-05
   days on market $185,000 Active 29 DOM
3. 2026-06-03
   days on market $185,000 Active 28 DOM
4. 2026-06-02
   days on market $185,000 Active 27 DOM
5. 2026-06-01
   days on market $185,000 Active 26 DOM
6. 2026-05-31
   days on market $185,000 Active 25 DOM
7. 2026-05-30
   days on market $185,000 Active 24 DOM
8. 2026-05-06
   listed $185,000 Active
9. 2025-05-06
   soldstatus $168,500
10. 2025-05-01
    soldstatus $168,500 Closed 278-char remark

    Show marketing remark (278 chars)

    Located on a large corner lot, this home has a lot to offer. Enjoy 2 living areas with a fireplace, new vinyl and carpet flooring, ADA accessible bathroom in master, new fixtures, abundance of storage, all under a new roof. Don't miss this opportunity, call today for a showing.

11. 2025-03-31
    status Pending 278-char remark

    Show marketing remark (278 chars)

    Located on a large corner lot, this home has a lot to offer. Enjoy 2 living areas with a fireplace, new vinyl and carpet flooring, ADA accessible bathroom in master, new fixtures, abundance of storage, all under a new roof. Don't miss this opportunity, call today for a showing.

12. 2025-03-24
    listed $168,500 Active 278-char remark

    Show marketing remark (278 chars)

    Located on a large corner lot, this home has a lot to offer. Enjoy 2 living areas with a fireplace, new vinyl and carpet flooring, ADA accessible bathroom in master, new fixtures, abundance of storage, all under a new roof. Don't miss this opportunity, call today for a showing.

13. 2024-12-20
    soldstatus $94,000 Closed 185-char remark

    Show marketing remark (185 chars)

    Great location on a large corner lot. Prefect for a first-time home buyer or investor. 2 living areas with fireplace. Walk in shower in master bedroom. Call today for a private showing.

14. 2024-11-04
    status Pending 185-char remark

    Show marketing remark (185 chars)

    Great location on a large corner lot. Prefect for a first-time home buyer or investor. 2 living areas with fireplace. Walk in shower in master bedroom. Call today for a private showing.

15. 2024-09-25
    listed $120,000 Active 185-char remark

    Show marketing remark (185 chars)

    Great location on a large corner lot. Prefect for a first-time home buyer or investor. 2 living areas with fireplace. Walk in shower in master bedroom. Call today for a private showing.

ⓘ 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: $1,083 · $90/mo
• Projected year-2 tax: $1,665 · $139/mo
• Expected delta: +$582/yr (+$48/mo · 53.7%)

ⓘ 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 6/10 Major 7 d/yr ≥109°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,447
• − Mortgage interest: −$10,363
• − Property taxes: −$1,083
• − Insurance: −$925
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$5,382
• Taxable loss: −$4,778
• Est. tax savings @ 24.0%: +$1,147
• After-tax cash flow: $-301/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: Morrison
• NCES district ID: 4020340
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 26% ▼ -9.00%
• Median HH income: $52,900
• Composite: 25.27/100
• National rank: #7495
• State rank: #65 of 270 in OK

Livability — Morrison

• Score: 62/100
• State rank: #267
• US rank: #17077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrison, OK
• Population (ZIP): 1,693

Population outlook (Noble County) Hauer SSP2

• Today (2025): 11,554 people
• By 2030: 11,506 · -0.4%
• By 2040: 11,345 · -1.8%
• By 2050: 11,128 · -3.7%
• By 2075: 10,658 · -7.8%
• By 2100: 9,623 · -16.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 17% Native American 4% Hispanic / Latino 2%
• Common ancestry: Slovak 5% Serbian 3% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Noble

• 2024 margin: Solid R (+57.4) · D 20.4% · R 77.7% · Other 1.9%
• 2008→2024 swing: -3.8pp toward R · 2008: -53.6pp · 2024: -57.4pp
• All cycles: 2024: R+57.4 2020: R+57.1 2016: R+57.6 2012: R+50.6 2008: R+53.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.35%
• Current HPI: 250.534
• 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

+54.2% since first listed

8 events — show timeline

• 2026-05-06 Listed $185,000 SBOR
• 2025-05-06 Sold (Public Records) $168,500 Public Records
• 2025-05-01 Sold (MLS) $168,500 SBOR
• 2025-03-31 Pending — SBOR
• 2025-03-24 Listed $168,500 SBOR
• 2024-12-20 Sold (MLS) $94,000 SBOR
• 2024-11-04 Pending — SBOR
• 2024-09-25 Listed $120,000 SBOR

Property tax history

+5.0%/yr

Latest (2025): $1,083 · +2.7% YoY. Source: county tax records.