14102 Perry Dr · Norman, OK 74857

$165,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 136 Days on market

Built 1996 5.00 ac lot $17/mo HOA · 1% of rent ↓ 10% since listing

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Why this score? — see what drove the C+ 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 +28.7/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to peaceful country living!! This 3-bedroom, 2 bath manufactured home on 5 beautiful acres. A rare opportunity offering space, privacy, and endless possibilities. The open floor plan features a living area, functional kitchen with ample cabinet space, and a comfortable primary suite with a private bath. Two additional bedrooms provides flexibility for guests, a home office, or hobbies. Step outside and enjoy wide-open land perfect for animals, gardening, recreation, or future expansion. Whether you're looking for a quiet retreat or a place to build your dream lifestyle, this property delivers freedom of rural living while still being within convenient distance to town amenities. Don

Key facts

• Functional kitchen
• Open floor plan
• Wide-open land

Tags

• 5 BEAUTIFUL ACRES
• OPEN FLOOR PLAN
• FUNCTIONAL KITCHEN
• AMPLE CABINET SPACE
• PRIVATE BATH
• WIDE-OPEN LAND

Property features AI

Finance

• Other: Homestead eligible; Lot size approximately 5 acres; Located in the Pride 34 addition; No storm shelter; Occupied; Active MLS listing; No home warranty
• Financial info: Loan qualification possible (loan qualify: yes); Not assumable
• HOA & community: Mandatory association dues of $200

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: No water/sewer/power provider details provided
• Home design: Single family residence; One-level property; Residential property; Move-to-site installation (manufactured home)
• Construction: Manufactured construction; Metal roof; Conventional foundation; Built as move-to-site (model home: no)
• Exterior features: Covered porch; Rural lot

Interior

• Kitchen: No appliance list provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Open living area
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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+.
• Mcloud (rural): math 13% / reading 19% proficiency, ranked #201 of 270 in OK (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mcloud Es (math 27% / reading 22%, grade F, #354 of 845 statewide, top 47%, 214 students, 0% FRL); Mcloud Hs (math 12% / reading 27%, grade F, #296 of 447 statewide, top 67%, 509 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: 97 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 $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 + 3.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.17% ✓
• Cap rate: 10.27%
• Cash-on-cash: 14.20%
• DSCR: 1.63
• GRM: 7.1

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $8,019
• Equity at exit: $24,602

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $51,546
• Equity at exit: $14,266

Cash invested: $46,200 (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 74857

• Home prices YoY: -10.6%
• Active inventory: 97
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,934 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$30 /mo · $361/yr
• Insurance: −$69
• HOA: −$17
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $547

Break-even live

Break-even rent $1,242

Max offer price $165,000

Occupancy floor 67%

Sensitivity live

Price	-10% $640	-5% $593	+0% $547	+5% $500	+10% $257
Rent	-10% $394	-5% $470	+0% $547	+5% $623	+10% $700
Rate	-1.0pp $630	-0.5pp $589	base $547	+0.5pp $504	+1.0pp $461

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 18 events

1. 2026-06-19
   days on market $165,000 Active 136 DOM
2. 2026-06-18
   days on market $165,000 Active 135 DOM
3. 2026-06-17
   days on market $165,000 Active 134 DOM
4. 2026-06-16
   days on market $165,000 Active 133 DOM
5. 2026-06-15
   days on market $165,000 Active 132 DOM
6. 2026-06-14
   days on market $165,000 Active 130 DOM
7. 2026-06-12
   pricedays on market $165,000 Active 129 DOM
8. 2026-06-09
   days on market $179,000 Active 126 DOM
9. 2026-06-08
   days on market $179,000 Active 125 DOM
10. 2026-06-07
    days on market $179,000 Active 124 DOM
11. 2026-06-05
    days on market $179,000 Active 121 DOM
12. 2026-06-02
    days on market $179,000 Active 119 DOM
13. 2026-06-01
    days on market $179,000 Active 118 DOM
14. 2026-05-31
    days on market $179,000 Active 117 DOM
15. 2026-05-30
    days on market $179,000 Active 116 DOM
16. 2026-03-31
    price $179,000
17. 2026-03-10
    price $193,000
18. 2026-02-02
    listed $199,999 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: $361 · $30/mo
• Projected year-2 tax: $1,485 · $124/mo
• Expected delta: +$1,124/yr (+$94/mo · 311.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $23,208
• − Mortgage interest: −$9,243
• − Property taxes: −$361
• − Insurance: −$825
• − Repairs & maintenance: −$1,857
• − Management: −$1,857
• − HOA: −$204
• − Depreciation: −$4,800
• Taxable income: $4,063
• Est. tax owed @ 24.0%: −$975
• After-tax cash flow: $5,586/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: Mcloud
• NCES district ID: 4019560
• Math proficiency: 13% ▼ -12.00%
• Reading proficiency: 19% ▼ -13.00%
• Median HH income: $51,519
• Composite: 14.72/100
• National rank: #9398
• State rank: #201 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): 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

-10.5% since first listed

3 events — show timeline

• 2026-03-31 Price Changed $179,000 MLSOK
• 2026-03-10 Price Changed $193,000 MLSOK
• 2026-02-02 Listed $199,999 MLSOK

Property tax history

+3.9%/yr

Latest (2024): $361 · +5.9% YoY. Source: county tax records.