1515 Lindale Cir · Norman, OK 73069

$225,000

3 bd · 2.0 ba · 1,780 sqft · SingleFamily public records · 10 Days on market

Built 1975 8,276 sqft lot Est $328k · 31% under

---

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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• Rent growth +4.4/5.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits in this spacious, Norman home located just minutes from OU, shopping, dining and major commuter routes. Offering 3 bedrooms, 2 bathrooms and an additional large bonus living area not included in the 1780 sq ft, This approximate 220sqft extra space currently being used as a 4th bedroom, providing flexible space for guests, a home office, game room or additional living space. Adding to the charm of this home is the large covered back patio. The functional floor plan, generous room sizes and large backyard create a solid foundation for buyers looking to personalize a home and build equity over time. While updates and cosmetic improvements will allow the next owner to add th

Key facts

• Bonus living area
• Flexible space
• Large backyard

Tags

• LARGE COVERED BACK PATIO
• BONUS LIVING AREA
• LARGE BACKYARD
• FLEXIBLE SPACE

Property features AI

Finance

• Other: Listing occupied; No conditions affecting sale; Model home: no
• Financial info: Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: Homestead designation
• Home design: Single family residence; One-story; Faces south; Residential property
• Construction: Brick and frame construction; Composition roof; Slab foundation; Built as an existing property
• Exterior features: Covered patio; Outbuildings; Wood fencing; Interior lot

Interior

• Kitchen: Built-in electric range; Built-in electric oven
• Bedrooms: 3 bedrooms
• Flooring: Concrete; Carpet; Laminate; Combination of floor types
• Bathrooms: 2 full bathrooms
• Interior features: One living area; Bonus room; Gas log fireplace; Combo of concrete, carpet and laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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 $209k (7.2% below list).
• Recommended offer: $209k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: Jackson Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 410 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 fast (+7.7%/yr); 253 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 592 units permitted in Cleveland County in 2024 (12 in 5+ unit buildings).
• This rent runs 43% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 + 7.7% rent growth), your $63k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $225k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $208,906 (7.2% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.93% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.75%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $327,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1606 Cruce St	0.27mi	3/3.0	1,780 (0%)	1mo	$447,600	$251	83
1605 Cinderella Ave	0.50mi	3/2.5	1,804 (+1%)	1mo	$143,000	$79	72
1315 Beverly Hills St	0.38mi	3/2.0	1,944 (+9%)	2mo	$280,000	$144	65
1617 Avondale Dr	0.13mi	4/2.5 (+1)	2,016 (+13%)	2mo	$295,000	$146	63
1123 W Brooks Dr	0.38mi	4/3.0 (+1)	1,850 (+4%)	5mo	$600,000	$324	62
1424 Avondale Dr	0.10mi	4/3.5 (+1)	1,556 (-13%)	4mo	$410,000	$263	60
1109 Westbrooke Ter	0.69mi	3/2.5	1,712 (-4%)	5mo	$308,000	$180	55
2502 E Cypress Ave	0.73mi	3/2.0	1,695 (-5%)	6mo	$312,000	$184	53
1447 Homeland Ave	0.56mi	4/3.0 (+1)	1,960 (+10%)	4mo	$299,500	$153	44
1222 Camden Way	0.60mi	4/2.0 (+1)	2,030 (+14%)	1mo	$365,000	$180	42
1511 Melrose Dr	0.72mi	3/2.0	1,527 (-14%)	2mo	$398,000	$261	41
1523 S Pickard	0.69mi	4/2.0 (+1)	1,528 (-14%)	3mo	$452,000	$296	36

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 · 7.66% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-10,386
• Equity at exit: $33,548

10-year hold

• IRR: 9.9%
• Equity multiple: 1.91×
• Total profit: $57,490
• Equity at exit: $19,454

Cash invested: $63,000 (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 73069

• Rents YoY: 7.7%
• Active inventory: 253
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,089 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$127 /mo · $1,528/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $249

Break-even live

Break-even rent $1,773

Max offer price $225,000

Occupancy floor 83%

Sensitivity live

Price	-10% $377	-5% $313	+0% $249	+5% $186	+10% $122
Rent	-10% $84	-5% $167	+0% $249	+5% $332	+10% $414
Rate	-1.0pp $363	-0.5pp $307	base $249	+0.5pp $191	+1.0pp $132

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1230 Caddell Ln Norman, OK	4.0	2.0	1484	$2,100	$1.42	25d	1	0.17mi
1208 Avondale Dr Norman, OK	3.0	1.0	1388	$1,600	$1.15	15d	1	0.25mi
1214 Cruce St Norman, OK	4.0	2.0	1882	$3,200	$1.70	12d	1	0.25mi
1219 Leslie Ln Norman, OK	4.0	2.5	1875	$2,495	$1.33	15d	1	0.34mi
1215 Westlawn Dr Norman, OK	3.0	2.0	1795	$2,195	$1.22	15d	1	0.56mi
1222 Camden Way Norman, OK	4.0	2.0	2030	$2,600	$1.28	15d	1	0.57mi
1205 Westlawn Dr Norman, OK	3.0	1.5	1440	$1,600	$1.11	25d	1	0.58mi
2073 W Lindsey St Norman, OK	1.0–3.0	1.0–2.5	945	$1,299	$1.37	25d	1	0.59mi
1639 Westbrooke Ter Norman, OK	3.0	2.0	1260	$2,100	$1.67	25d	1	0.61mi
1213 Westbrooke Ter Norman, OK	3.0	2.0	1612	$2,100	$1.30	25d	1	0.65mi
1530 Melrose Dr Norman, OK	3.0	1.0	1266	$1,400	$1.11	25d	1	0.66mi
1404 Melrose Dr Norman, OK	3.0	2.0	2259	$1,925	$0.85	25d	1	0.69mi
1023 Chautauqua Ave Norman, OK	4.0	1.0	1308	$2,100	$1.61	25d	1	0.82mi
1314 Sycamore St Norman, OK	3.0	2.0	1380	$2,400	$1.74	22d	1	0.97mi
421 Foreman Ave Norman, OK	4.0	2.0	2070	$2,600	$1.26	12d	1	1.21mi
712 Dakota St Norman, OK	3.0	1.0	1353	$1,395	$1.03	4d	1	1.38mi
1607 Denison Dr Norman, OK	3.0	1.5	1357	$1,595	$1.18	25d	1	1.40mi

Listing history 7 events

1. 2026-06-21
   days on market $225,000 Active 10 DOM
2. 2026-06-18
   days on market $225,000 Active 7 DOM
3. 2026-06-17
   days on market $225,000 Active 6 DOM
4. 2026-06-16
   days on market $225,000 Active 5 DOM
5. 2026-06-15
   days on market $225,000 Active 4 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $225,000 Active 2 DOM

ⓘ 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: $1,528 · $127/mo
• Projected year-2 tax: $2,025 · $169/mo
• Expected delta: +$497/yr (+$41/mo · 32.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 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: $25,069
• − Mortgage interest: −$12,603
• − Property taxes: −$1,528
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − Depreciation: −$6,545
• Taxable loss: −$744
• Est. tax savings @ 24.0%: +$179
• After-tax cash flow: $3,171/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): 28,462
• Household income: $58,888
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1704.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Two or more races 15% Hispanic / Latino 14% Native American 4% Black 4% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 3% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 84% English-only · Spanish 10% 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: ▼ -252.79%
• Current HPI: 272.4754
• Rent YoY: ▲ 7.66%
• 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

+246.2% since first listed

2 events — show timeline

• 2026-06-11 Listed $225,000 MLSOK
• 2006-11-01 Sold (Public Records) $65,000 Public Records

Property tax history

+0.5%/yr

Latest (2024): $1,528 · +2.9% YoY. Source: county tax records.