18208 Manera Way · Oklahoma City, OK 73012

$224,900

3 bd · 2.0 ba · 1,485 sqft · Townhouse public records · 58 Days on market

Built 2016 4,896 sqft lot $66/mo HOA · 3% of rent

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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).

• Cash flow +10.6/30.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• DSCR +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained 3 bed, 2 bath duplex in the highly desirable Deer Creek area! Built just 4 years ago, this home features tall ceilings, an open layout, and a split bedroom design with the primary suite tucked away for added privacy. Large windows bring in great natural light, creating a bright and inviting feel throughout. Spacious closets and ample cabinet storage make the home both functional and comfortable. HOA covers yard maintenance and includes access to neighborhood parks and a splash pad for easy, low-maintenance living. Located in a fast-growing area close to shopping, dining, and everyday conveniences—move-in ready and a great place to call home!

Key facts

• Split bedroom design
• Primary suite
• Splash pad

Tags

• SPLIT BEDROOM DESIGN
• PRIMARY SUITE
• NEIGHBORHOOD PARKS
• SPLASH PAD

Property features AI

Finance

• Other: Homestead exemption: yes
• Financial info: Loan qualification available; Not assumable
• HOA & community: Mandatory association dues; Association fee: $795 (includes greenbelt and common area maintenance)

Exterior

• Parking: 2-car garage
• Utilities: No storm shelter; Flood insurance not required
• Home design: Residential half duplex; One-level entry
• Construction: Brick and frame construction; Composition roof; Slab foundation; Built as existing property
• Exterior features: Covered patio; Covered porch; Interior lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Gas range/oven
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Dishwasher; Disposal; Microwave; Kitchen external exhaust; Smoke alarm; Garage door lift
• Laundry & utility: Garage door lift (mechanical feature)

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (14.7% below list).
• Recommended offer: $192k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.7% in Oklahoma City — 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 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Deer Creek (rural): math 41% / reading 44% proficiency, ranked #4 of 270 in OK (top 2%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Grove Valley Es (math 42% / reading 32%, grade F, #132 of 845 statewide, top 19%, 554 students, 0% FRL); Deer Creek Hs (math 39% / reading 51%, grade D-, #13 of 447 statewide, top 3%, 2,036 students, 0% FRL).
• Market conditions: Rents rising (+1.2%/yr); 626 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

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.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,835 (14.7% 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 58 days. Have you received any prior offers? Is the seller open to a 15% 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. 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 F 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: 0.85% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.14%
• DSCR: 0.90
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.21% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.26×
• Total profit: $-46,903
• Equity at exit: $33,533

10-year hold

• IRR: -21.0%
• Equity multiple: -0.00×
• Total profit: $-63,173
• Equity at exit: $19,445

Cash invested: $62,972 (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 73012

• Home prices YoY: -17.9%
• Rents YoY: 1.2%
• Active inventory: 626
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,918 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$288 /mo · $3,462/yr
• Insurance: −$94
• HOA: −$66
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-112

Break-even live

Break-even rent $2,060

Max offer price $205,098

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-48	+0% $-112	+5% $-176	+10% $-239
Rent	-10% $-264	-5% $-188	+0% $-112	+5% $-36	+10% $39
Rate	-1.0pp $1	-0.5pp $-55	base $-112	+0.5pp $-170	+1.0pp $-230

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2924 NW 181st St Edmond, OK	3.0	2.0	1558	$1,775	$1.14	24d	1	0.20mi
2717 NW 178th St Edmond, OK	1.0–3.0	1.0–2.0	943	$1,749	$1.85	2d	15	0.20mi
18301 Montoro Way Edmond, OK	3.0	2.0	1556	$1,695	$1.09	2d	1	0.32mi
3005 NW 183rd St Edmond, OK	3.0	2.0	1320	$1,650	$1.25	3d	1	0.39mi
18209 Bridlington Dr Edmond, OK	3.0	2.0	1568	$1,700	$1.08	24d	1	0.42mi
18509 Agua Dr Edmond, OK	3.0	2.0	1595	$1,800	$1.13	2d	1	0.42mi
18321 Groveton Blvd Edmond, OK	3.0	2.0	1739	$2,200	$1.27	17d	1	0.44mi
18401 Haslemere Ln Edmond, OK	3.0	2.0	1794	$1,945	$1.08	5d	1	0.53mi
18613 Vivo Dr Edmond, OK	3.0	2.0	1682	$1,995	$1.19	20d	1	0.59mi
2344 Roca Dr Edmond, OK	3.0	2.0	1213	$1,650	$1.36	12d	1	0.63mi
18217 Autumn Grove Dr Edmond, OK	3.0	2.0	1543	$1,800	$1.17	20d	1	0.66mi
2800 NW 192nd St Edmond, OK	1.0–2.0	1.0–2.0	1118	$2,270	$2.03	2d	11	0.72mi
18216 Austin Ct Edmond, OK	3.0	2.0	1542	$1,995	$1.29	2d	1	0.78mi
18212 Austin Ct Edmond, OK	4.0	2.0	1520	$2,095	$1.38	2d	1	0.79mi
18200 Austin Ct Edmond, OK	4.0	2.0	1701	$2,195	$1.29	2d	1	0.79mi
19217 Garden Creek Ln Edmond, OK	4.0	2.0	1828	$2,045	$1.12	11d	1	0.79mi
18112 Austin Ct Edmond, OK	3.0	2.0	1542	$1,995	$1.29	2d	1	0.79mi
17029 Woodvine Dr Edmond, OK	3.0	2.0	1838	$1,970	$1.07	17d	1	0.81mi
17516 Black Hawk Dr Edmond, OK	3.0	2.0	1846	$2,095	$1.13	2d	1	0.84mi
2921 NW 195th St Edmond, OK	3.0	2.0	1342	$1,695	$1.26	11d	1	0.96mi
2925 NW 195th St Edmond, OK	3.0	2.0	1342	$1,695	$1.26	24d	1	0.96mi
19501 Conway Dr Edmond, OK	3.0	2.0	1253	$1,650	$1.32	5d	1	0.97mi
19505 Conway Dr Edmond, OK	3.0	2.0	1342	$1,695	$1.26	24d	1	0.97mi
19513 Conway Dr Edmond, OK	3.0	2.0	1253	$1,650	$1.32	24d	1	0.97mi
19509 Conway Dr Edmond, OK	3.0	2.0	1342	$1,695	$1.26	5d	1	0.97mi
19521 Conway Dr Edmond, OK	3.0	2.0	1253	$1,650	$1.32	24d	1	0.97mi
2945 NW 195th St Edmond, OK	3.0	2.0	1253	$1,650	$1.32	5d	1	0.98mi
2941 NW 195th St Edmond, OK	3.0	2.0	1342	$1,695	$1.26	5d	1	0.99mi
19613 Bolton Rd Edmond, OK	3.0	2.0	1340	$1,795	$1.34	2d	1	1.01mi
19629 Ferris Dr Edmond, OK	3.0	2.0	1347	$1,850	$1.37	24d	1	1.06mi
19717 Whitley Rd Edmond, OK	4.0	2.0	1701	$1,995	$1.17	17d	1	1.10mi
19708 Barrister Cir Edmond, OK	3.0	2.0	1257	$1,595	$1.27	2d	1	1.14mi
19704 Taggert Dr Edmond, OK	3.0	2.0	1330	$1,645	$1.24	5d	1	1.15mi
17609 Gold Dr Edmond, OK	4.0	2.0	1640	$1,995	$1.22	24d	1	1.17mi
19704 Vivace Dr Edmond, OK	3.0	2.0	1450	$1,699	$1.17	2d	1	1.18mi
19804 Canning Ct Edmond, OK	3.0	2.0	1875	$2,595	$1.38	17d	1	1.20mi
17405 Bronze Ln Edmond, OK	4.0	2.0	1787	$2,050	$1.15	2d	1	1.20mi
2364 NW 197th St Edmond, OK	3.0	2.0	1250	$1,595	$1.28	2d	1	1.24mi
19501 N Pennsylvania Ave Edmond, OK	2.0–3.0	1.0–2.0	1122	$1,750	$1.56	2d	11	1.26mi
19601 N Pennsylvania Ave Edmond, OK	3.0	2.5	1441	$1,745	$1.21	2d	1	1.34mi

HOA detail

• Monthly dues: $66 · $792/yr

Listing history 17 events

1. 2026-06-18
   days on market $224,900 Active 58 DOM
2. 2026-06-17
   days on market $224,900 Active 57 DOM
3. 2026-06-16
   days on market $224,900 Active 56 DOM
4. 2026-06-15
   days on market $224,900 Active 55 DOM
5. 2026-06-13
   days on market $224,900 Active 53 DOM
6. 2026-06-09
   days on market $224,900 Active 49 DOM
7. 2026-06-08
   days on market $224,900 Active 48 DOM
8. 2026-06-07
   days on market $224,900 Active 47 DOM
9. 2026-06-05
   days on market $224,900 Active 44 DOM
10. 2026-06-03
    days on market $224,900 Active 43 DOM
11. 2026-06-02
    days on market $224,900 Active 42 DOM
12. 2026-06-01
    days on market $224,900 Active 41 DOM
13. 2026-05-31
    days on market $224,900 Active 40 DOM
14. 2026-05-22
    price $224,900
15. 2026-05-07
    price $239,900
16. 2026-04-21
    listed $250,000 Active
17. 2022-01-18
    soldstatus $7,945,500

ⓘ 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: $3,462 · $288/mo
• Projected year-2 tax: $3,462 · $288/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 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: $23,020
• − Mortgage interest: −$12,598
• − Property taxes: −$3,462
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − HOA: −$792
• − Depreciation: −$6,543
• Taxable loss: −$5,182
• Est. tax savings @ 24.0%: +$1,244
• After-tax cash flow: $-102/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: Deer Creek
• NCES district ID: 4009570
• Math proficiency: 41% ▼ -16.00%
• Reading proficiency: 44% ▼ -14.00%
• Median HH income: $101,218
• Composite: 41.46/100
• National rank: #3465
• State rank: #4 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• County: Oklahoma County · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 46,993
• Household income: $126,659
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 898.0

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 (67%)
• Race & ethnicity: White 67% Two or more races 10% Black 8% Asian 8% Hispanic / Latino 8% Native American 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 11% · Canada, China, Vietnam
• Languages at home: 86% English-only · Spanish 4% Other Indo-European 2% Chinese 2%

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: ▼ -44.41%
• Current HPI: 203.1105
• Rent YoY: ▲ 1.21%
• 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

-97.2% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $224,900 MLSOK
• 2026-05-07 Price Changed $239,900 MLSOK
• 2026-04-21 Listed $250,000 MLSOK
• 2022-01-18 Sold (Public Records) $7,945,500 Public Records

Property tax history

+49.6%/yr

Latest (2025): $3,462 · -1.3% YoY. Source: county tax records.