8924 Grey Joy Rd · Edmond, OK 73007

$548,290

5 bd · 3.0 ba · 2,520 sqft · SingleFamily · 97 Days on market

Built 2026 0.25 ac lot Est $514k · 7% over $83/mo HOA · 2% of rent

---

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).

• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• ARV discount +4.5/15.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.5/10.0

Listing remarks MLS

Welcome to 8924 Grey Joy Rd The Hazel Bonus Room is loved for many reasons, but add a 5th bedroom and see why it's an all-time favorite. Five bedrooms, three full bathrooms, a bonus room, and a utility room featuring a utility sink add up to a whopping 2,520 square feet of interior. Two covered patios amount to 215 square feet of outdoor living space, while the remaining 565 square feet host your three-car garage with carriage doors and an in-ground storm shelter. This floor plan is special for many reasons, but perhaps the clever layout is what seals the deal. Your stacked stone fireplace sits in the corner of the great room and is complemented by the luxurious 3-panel sliding doors featuring a 4' back patio extension, a ceiling fan, wood-look tile flooring, Cat6 wiring, rocker switches throughout, and a beautiful coffered ceiling. This detailed ceiling leads your eyes to the top-tier kitchen, which supports custom-built cabinets to the ceiling, a kitchen island equipped with a trash can pullout, 3 CM countertops, select pendant lighting, upgraded kitchen backsplash, stainless steel appliances, including a 5-burner cooktop and double ovens, and a large corner pantry. After a long day, find solace in your primary suite, which features a sloped ceiling, a ceiling fan, windows, Cat6 wiring, and carpeted flooring. The relaxing primary bath suits a free-standing tub, a European walk-in shower, a dual sink vanity with framed mirrors, 3 CM countertops, tile flooring, a pri. ..

Key facts

• Covered patios
• Utility room
• 3-panel sliding door

Tags

• BONUS ROOM
• COVERED PATIOS
• UTILITY ROOM
• IN-GROUND STORM SHELTER
• 3-PANEL SLIDING DOOR
• BACK PATIO EXTENSION

Property features AI

Finance

• Other: Living area per plans: 2,520 (source: plans)
• Financial info: Not assumable
• HOA & community: Mandatory association dues; Association fee includes gated entry, greenbelt, pool, recreation facility

Exterior

• Parking: Concrete driveway; 3-car garage
• Security: Gated entry (community amenity)
• Utilities: Public utilities; Cable available; Natural gas available; Electricity available
• Home design: Single-family residence; Two-story home; North-facing; Under construction (estimated completion: 2026-09-16); Model builder: Homes by Taber
• Construction: Brick and frame construction with masonry veneer; Composition roof (new 2026); Post-tension foundation
• Exterior features: Covered patio; Covered porch; Interior lot; Garage floor storm shelter

Interior

• Kitchen: Built-in range (gas); Built-in oven (electric); Dishwasher; Disposal; Microwave; Water heater
• Bedrooms: 5 bedrooms; Optional bedroom / bonus room available; Study (can function as office)
• Flooring: Combination flooring; Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Double-glazed windows (low-E); Natural gas available; Electricity available
• Interior features: Ceiling fans; Blown cellulose insulation; Smart home systems; Smoke alarm; Tankless hot water; Underground sprinkler; Energy Star certified; Home warranty included
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $548k.

Deal economics

• At list price, monthly cash flow is $-712 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $445k (18.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (27.0% below list).
• Recommended offer: $400k (27.0% below list) — sets the bar for 1% rule.
• Cap rate 4.7% vs local median 3.4% in Edmond — 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 78/100 on livability (#6 in OK, #2,383 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety C-, commute F.
• Edmond (suburban): math 38% / reading 40% proficiency, ranked #11 of 270 in OK (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Redbud Es (616 students, 0% FRL); Sequoyah Ms (math 40% / reading 34%, grade F, #17 of 345 statewide, top 6%, 1,006 students, 0% FRL); Memorial Hs (math 44% / reading 56%, grade D+, #4 of 447 statewide, top 1%, 2,605 students, 0% FRL) — zoned schools average 0% FRL vs 22% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($499k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $400,000 (27.0% 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 97 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.73% ✗
• Cap rate: 4.73%
• Cash-on-cash: -5.57%
• DSCR: 0.75
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $514,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5408 Braavos Way	0.10mi	5/3.0	2,520 (0%)	2mo	$543,840	$216	93
8700 Stark St	0.15mi	5/3.0	2,530 (+0%)	8mo	$495,000	$196	86
5216 Braavos Way	0.10mi	4/3.0 (-1)	2,450 (-3%)	1mo	$533,000	$218	85
8817 Arya Rd	0.21mi	4/3.0 (-1)	2,624 (+4%)	9mo	$502,500	$192	71
5316 Braavos Way	0.09mi	4/3.0 (-1)	2,850 (+13%)	1mo	$593,340	$208	68
5009 Sunspear Dr	0.27mi	4/3.0 (-1)	2,640 (+5%)	8mo	$450,000	$170	68
8709 Tyrion Dr	0.12mi	4/3.0 (-1)	2,250 (-11%)	9mo	$475,340	$211	64
5001 Braavos Way	0.24mi	4/3.0 (-1)	2,800 (+11%)	2mo	$529,000	$189	63
8624 Grey Wind Way	0.43mi	4/2.5 (-1)	2,450 (-3%)	11mo	$499,000	$204	59
4924 Highgarden Ave	0.37mi	4/2.0 (-1)	2,206 (-12%)	1mo	$445,000	$202	52
6025 Lindberg Ln	0.57mi	4/3.5 (-1)	2,870 (+14%)	7mo	$637,500	$222	38
8217 Grass Creek Dr	0.73mi	4/3.0 (-1)	2,829 (+12%)	6mo	$555,000	$196	36

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.65×
• Total profit: $253,370
• Equity at exit: $493,943

10-year hold

• IRR: 18.6%
• Equity multiple: 6.09×
• Total profit: $782,021
• Equity at exit: $1,065,207

Cash invested: $153,521 (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 73007

• Home prices YoY: 4.0%
• Active inventory: 192
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $4,000 medium
• Mortgage (P&I): −$2,875
• Tax est. 1.5%: −$685 /mo · $8,224/yr
• Insurance: −$228
• HOA: −$83
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $-712

Break-even live

Break-even rent $4,901

Max offer price $445,247

Occupancy floor —

Sensitivity live

Price	-10% $-333	-5% $-523	+0% $-712	+5% $-902	+10% $-1,091
Rent	-10% $-1,028	-5% $-870	+0% $-712	+5% $-554	+10% $-396
Rate	-1.0pp $-436	-0.5pp $-573	base $-712	+0.5pp $-854	+1.0pp $-999

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: $137,072
• Closing costs: $16,449
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7901 Behr Dr Edmond, OK	5.0	4.0	2829	$4,000	$1.41	22d	1	0.99mi

HOA detail

• Monthly dues: $83 · $996/yr
• Likely covers: trash

Listing history 17 events

1. 2026-06-21
   days on market $548,290 Active 97 DOM
2. 2026-06-18
   days on market $548,290 Active 94 DOM
3. 2026-06-17
   days on market $548,290 Active 93 DOM
4. 2026-06-16
   days on market $548,290 Active 92 DOM
5. 2026-06-15
   days on market $548,290 Active 91 DOM
6. 2026-06-13
   days on market $548,290 Active 89 DOM
7. 2026-06-09
   days on market $548,290 Active 85 DOM
8. 2026-06-08
   days on market $548,290 Active 84 DOM
9. 2026-06-07
   days on market $548,290 Active 83 DOM
10. 2026-06-03
    days on market $548,290 Active 79 DOM
11. 2026-06-02
    days on market $548,290 Active 78 DOM
12. 2026-06-01
    days on market $548,290 Active 77 DOM
13. 2026-05-31
    days on market $548,290 Active 76 DOM
14. 2026-04-29
    price $548,290 1496-char remark

    Show marketing remark (1496 chars)

    Welcome to 8924 Grey Joy Rd The Hazel Bonus Room is loved for many reasons, but add a 5th bedroom and see why it's an all-time favorite. Five bedrooms, three full bathrooms, a bonus room, and a utility room featuring a utility sink add up to a whopping 2,520 square feet of interior. Two covered patios amount to 215 square feet of outdoor living space, while the remaining 565 square feet host your three-car garage with carriage doors and an in-ground storm shelter. This floor plan is special for many reasons, but perhaps the clever layout is what seals the deal. Your stacked stone fireplace sits in the corner of the great room and is complemented by the luxurious 3-panel sliding doors featuring a 4' back patio extension, a ceiling fan, wood-look tile flooring, Cat6 wiring, rocker switches throughout, and a beautiful coffered ceiling. This detailed ceiling leads your eyes to the top-tier kitchen, which supports custom-built cabinets to the ceiling, a kitchen island equipped with a trash can pullout, 3 CM countertops, select pendant lighting, upgraded kitchen backsplash, stainless steel appliances, including a 5-burner cooktop and double ovens, and a large corner pantry. After a long day, find solace in your primary suite, which features a sloped ceiling, a ceiling fan, windows, Cat6 wiring, and carpeted flooring. The relaxing primary bath suits a free-standing tub, a European walk-in shower, a dual sink vanity with framed mirrors, 3 CM countertops, tile flooring, a pri. ..

15. 2026-04-28
    price $548,290
16. 2026-03-17
    listed $546,290 Active 1496-char remark

    Show marketing remark (1496 chars)

    Welcome to 8924 Grey Joy Rd The Hazel Bonus Room is loved for many reasons, but add a 5th bedroom and see why it's an all-time favorite. Five bedrooms, three full bathrooms, a bonus room, and a utility room featuring a utility sink add up to a whopping 2,520 square feet of interior. Two covered patios amount to 215 square feet of outdoor living space, while the remaining 565 square feet host your three-car garage with carriage doors and an in-ground storm shelter. This floor plan is special for many reasons, but perhaps the clever layout is what seals the deal. Your stacked stone fireplace sits in the corner of the great room and is complemented by the luxurious 3-panel sliding doors featuring a 4' back patio extension, a ceiling fan, wood-look tile flooring, Cat6 wiring, rocker switches throughout, and a beautiful coffered ceiling. This detailed ceiling leads your eyes to the top-tier kitchen, which supports custom-built cabinets to the ceiling, a kitchen island equipped with a trash can pullout, 3 CM countertops, select pendant lighting, upgraded kitchen backsplash, stainless steel appliances, including a 5-burner cooktop and double ovens, and a large corner pantry. After a long day, find solace in your primary suite, which features a sloped ceiling, a ceiling fan, windows, Cat6 wiring, and carpeted flooring. The relaxing primary bath suits a free-standing tub, a European walk-in shower, a dual sink vanity with framed mirrors, 3 CM countertops, tile flooring, a pri. ..

17. 2026-03-16
    listed $546,290 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $48,000
• − Mortgage interest: −$30,713
• − Property taxes: −$8,224
• − Insurance: −$2,741
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − HOA: −$996
• − Depreciation: −$15,950
• Taxable loss: −$18,305
• Est. tax savings @ 24.0%: +$4,393
• After-tax cash flow: $-4,152/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: Edmond
• NCES district ID: 4010590
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $73,212
• Composite: 35.88/100
• National rank: #4814
• State rank: #11 of 270 in OK

Livability — Edmond

• Score: 78/100
• State rank: #6
• US rank: #2383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edmond, OK
• City population: 177,083
• Population (ZIP): 2,945

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 15% Hispanic / Latino 5% Black 2%
• Common ancestry: Lithuanian 5% Romanian 3% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.99%
• Current HPI: 336.6015
• 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

+0.4% since first listed

4 events — show timeline

• 2026-04-29 Price Changed $548,290 Zillow
• 2026-04-28 Price Changed $548,290 MLSOK
• 2026-03-17 Listed $546,290 Zillow
• 2026-03-16 Listed $546,290 MLSOK