11437 N May Ave · Oklahoma City, OK 73120

$98,000

2 bd · 2.0 ba · 1,065 sqft · Condo public records · 53 Days on market

Built 1977 $92/sqft · 13% below area Est $113k · 13% under $280/mo HOA · 20% of rent

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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 +22.5/30.0
• ARV discount +13.3/15.0
• 1% rule +9.2/10.0
• DSCR +7.2/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Get ready to be wowed! Over 11k in recent updates including plantation shutters, kitchen appliance, windows, washer and dryer, fresh paint, updated patio area. You are going to absolutely love this property. Come take a look today.

Key facts

• Hardwood flooring
• Corner condo
• New carpet

Tags

• CORNER CONDO
• FRESH UPDATES
• HARDWOOD FLOORING
• NEW CARPET
• OPEN LIVING AND DINING LAYOUT
• ELECTRIC RANGE AND OVEN

Property features AI

Finance

• Other: Homestead exempt; Property is existing (not new construction)
• Financial info: Financing options: Cash, Conventional, FHA/VA, VA; Loan qualification: Yes
• HOA & community: Mandatory association dues; Association fee: $3,360 (includes garbage, gated entry, insurance, exterior maintenance)

Exterior

• Utilities: Cable available; Electricity available; High-speed internet available; Public utilities
• Home design: Condominium; Two levels; Faces south; Residential property
• Construction: Brick construction; Composition roof; Double-pane low-E windows; Slab foundation
• Exterior features: Open patio; Wood fencing; Corner lot

Interior

• Kitchen: Electric range; Free-standing oven
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile; Wood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Electric heating
• Interior features: Dishwasher; Disposal; Microwave; Refrigerator; Washer/Dryer; Water heater; No fireplace
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $98k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Nichols Hills Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 494 students, 0% FRL); John Marshall Hs (math 2% / reading 8%, grade F, #430 of 447 statewide, top 99%, 829 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.0%/yr); 333 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $678 of loan paydown is wiped out by about $3k 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 53 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 5.9

CMA / ARV

• ARV (median comp): $112,605
• List price: $98,000
• Delta: -12.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.05% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-6,496
• Equity at exit: $14,612

10-year hold

• IRR: 1.8%
• Equity multiple: 1.12×
• Total profit: $3,319
• Equity at exit: $8,473

Cash invested: $27,440 (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 73120

• Rents YoY: 2.0%
• Active inventory: 333
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,389 high
• Mortgage (P&I): −$514
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$41
• HOA: −$280
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $165

Break-even live

Break-even rent $1,179

Max offer price $98,000

Occupancy floor 83%

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11417 N May Ave Unit D Oklahoma City, OK	3.0	2.0	1275	$1,345	$1.05	2d	1	0.07mi
11004 N May Ave Oklahoma City, OK	1.0–2.0	1.0–2.5	1129	$1,170	$1.04	11d	1	0.30mi
12305 Cedar Springs Ln Oklahoma City, OK	2.0	2.5	1472	$1,250	$0.85	43d	1	0.50mi
10904 N Linn Ave Oklahoma City, OK	3.0	2.0	1452	$1,650	$1.14	43d	1	0.59mi
11007 Greystone Ave Oklahoma City, OK	2.0	2.0	1269	$1,500	$1.18	3d	1	0.63mi
2700 Indian Creek Blvd Oklahoma City, OK	1.0–3.0	1.0–2.0	1261	$1,164	$0.92	2d	5	0.65mi
2841 Indian Creek Blvd Oklahoma City, OK	2.0	2.0	1129	$1,100	$0.97	15d	1	0.71mi
2841 Indian Creek Blvd Oklahoma City, OK	2.0	2.0	1129	$1,100	$0.97	23d	1	0.71mi
11141 Springhollow Rd Oklahoma City, OK	3.0	2.0	1330	$1,499	$1.13	23d	1	0.71mi
11141 Springhollow Rd Unit 251 Oklahoma City, OK	3.0	2.0	1330	$1,499	$1.13	21d	1	0.73mi
11141 Springhollow Rd Unit 208 Oklahoma City, OK	2.0	2.0	1088	$1,125	$1.03	43d	1	0.73mi
2737 Plymouth Ln Oklahoma City, OK	3.0	1.5	1372	$1,395	$1.02	43d	1	0.77mi
10412 Major Ave Oklahoma City, OK	3.0	2.0	1286	$1,750	$1.36	43d	1	0.78mi
2611 Silvertree Dr Oklahoma City, OK	3.0	2.0	1500	$1,550	$1.03	43d	1	0.81mi
11409 Springhollow Rd #505 Oklahoma City, OK	1.0	1.0	801	$1,250	$1.56	43d	1	0.82mi
2401 NW 122nd St Oklahoma City, OK	1.0–2.0	1.0–2.0	844	$899	$1.06	23d	1	0.84mi
11431 Springhollow Rd #1305 Oklahoma City, OK	1.0	1.0	801	$1,050	$1.31	43d	1	0.88mi
2301 NW 122nd St Oklahoma City, OK	1.0	1.0	723	$940	$1.30	1d	28	0.92mi
2126 NW 118th St Oklahoma City, OK	2.0	2.5	1360	$1,445	$1.06	23d	1	0.95mi
11239 N Pennsylvania Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	850	$1,155	$1.36	3d	30	0.95mi
12821 Stratford Dr Oklahoma City, OK	2.0	2.0	1043	$1,078	$1.03	1d	1	1.01mi
2501 Patti Pl Oklahoma City, OK	3.0	2.0	1377	$1,600	$1.16	43d	1	1.01mi
2610 Crescent Ave Oklahoma City, OK	3.0	2.5	1387	$2,125	$1.53	21d	1	1.04mi
2533 NW 129th St Oklahoma City, OK	3.0	2.5	1497	$2,200	$1.47	3d	1	1.10mi
2533 NW 129th St Oklahoma City, OK	3.0	2.0	1500	$2,200	$1.47	23d	1	1.10mi
12831 Stratford Dr Oklahoma City, OK	1.0–3.0	1.0–2.0	1122	$2,295	$2.05	1d	22	1.12mi
9913 Sunnymeade Pl Oklahoma City, OK	3.0	1.5	1284	$1,695	$1.32	23d	1	1.19mi
2540 NW 132nd Pl Oklahoma City, OK	3.0	2.5	1385	$2,400	$1.73	23d	1	1.19mi
9909 Sunnymeade Pl Oklahoma City, OK	3.0	2.0	1325	$1,695	$1.28	1d	1	1.20mi
2632 Kings Way Oklahoma City, OK	3.0	1.5	1496	$1,600	$1.07	43d	1	1.22mi
2523 NW 132nd Pl Oklahoma City, OK	3.0	2.5	1328	$2,450	$1.84	23d	1	1.22mi
12701 N Pennsylvania Ave Oklahoma City, OK	3.0	1.0–2.0	912	$1,358	$1.49	1d	15	1.23mi
2609 Featherstone Rd Oklahoma City, OK	1.0–2.0	1.0–2.0	769	$1,150	$1.50	1d	34	1.29mi
1800 NW 115th St Oklahoma City, OK	1.0–3.0	1.0–2.0	1019	$1,705	$1.67	2d	8	1.31mi
3959 NW 122nd St Oklahoma City, OK	1.0–2.0	1.0–2.0	758	$1,063	$1.40	2d	31	1.36mi
2300 Carlton Way Oklahoma City, OK	1.0	1.0	700	$899	$1.28	15d	1	1.46mi
2000 Lanesboro Dr Oklahoma City, OK	3.0	2.0	1236	$1,550	$1.25	43d	1	1.50mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $98,000 Active 53 DOM
2. 2026-06-17
   days on market $98,000 Active 52 DOM
3. 2026-06-16
   days on market $98,000 Active 51 DOM
4. 2026-06-15
   days on market $98,000 Active 50 DOM
5. 2026-06-13
   days on market $98,000 Active 48 DOM
6. 2026-06-10
   price $98,000 Active 44 DOM
7. 2026-06-09
   days on market $105,000 Active 44 DOM
8. 2026-06-08
   days on market $105,000 Active 43 DOM
9. 2026-06-07
   days on market $105,000 Active 42 DOM
10. 2026-06-05
    days on market $105,000 Active 39 DOM
11. 2026-06-03
    days on market $105,000 Active 38 DOM
12. 2026-06-02
    days on market $105,000 Active 37 DOM
13. 2026-06-01
    days on market $105,000 Active 36 DOM
14. 2026-05-31
    days on market $105,000 Active 35 DOM
15. 2026-04-22
    listed $105,000 Active 742-char remark
16. 2026-04-07
    status Pending
17. 2026-04-06
    historical
18. 2026-02-02
    price $105,000
19. 2025-12-01
    listed $102,000 Active
20. 2016-12-19
    soldstatus $67,500 Sold

    Show marketing remark (234 chars)

    Get ready to be wowed! Over 11k in recent updates including plantation shutters, kitchen appliance, windows, washer and dryer, fresh paint, updated patio area. You are going to absolutely love this property. Come take a look today.

21. 2016-12-19
    soldstatus $67,500

    Show marketing remark (234 chars)

    Get ready to be wowed! Over 11k in recent updates including plantation shutters, kitchen appliance, windows, washer and dryer, fresh paint, updated patio area. You are going to absolutely love this property. Come take a look today.

22. 2016-12-16
    status Pending

    Show marketing remark (234 chars)

    Get ready to be wowed! Over 11k in recent updates including plantation shutters, kitchen appliance, windows, washer and dryer, fresh paint, updated patio area. You are going to absolutely love this property. Come take a look today.

23. 2016-10-28
    listed $69,900 Active

    Show marketing remark (234 chars)

    Get ready to be wowed! Over 11k in recent updates including plantation shutters, kitchen appliance, windows, washer and dryer, fresh paint, updated patio area. You are going to absolutely love this property. Come take a look today.

24. 2016-02-25
    soldstatus $57,000
25. 2015-12-11
    soldstatus $57,000 Sold
26. 2015-12-01
    status Pending
27. 2015-11-15
    price $59,900
28. 2015-10-31
    listed $62,500 Active
29. 2013-07-16
    soldstatus $45,000
30. 2013-07-12
    soldstatus $45,000
31. 2013-03-12
    listed $49,900

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,164 · $97/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $16,663
• − Mortgage interest: −$5,490
• − Property taxes: −$1,164
• − Insurance: −$490
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − HOA: −$3,360
• − Depreciation: −$2,851
• Taxable income: $642
• Est. tax owed @ 24.0%: −$154
• After-tax cash flow: $1,828/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: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 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): 35,559
• Household income: $64,745
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 2029.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 21% Two or more races 11% Hispanic / Latino 7% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% 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: ▼ -279.69%
• Current HPI: 227.2832
• Rent YoY: ▲ 2.05%
• 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

+96.4% since first listed

18 events — show timeline

• 2026-06-09 Price Changed $98,000 MLSOK
• 2026-04-22 Listed $105,000 MLSOK
• 2026-04-07 Pending — MLSOK
• 2026-04-06 Listing Removed — MLSOK
• 2026-02-02 Price Changed $105,000 MLSOK
• 2025-12-01 Listed $102,000 MLSOK
• 2016-12-19 Sold (Public Records) $67,500 Public Records
• 2016-12-19 Sold (MLS) $67,500 MLSOK
• 2016-12-16 Pending — MLSOK
• 2016-10-28 Listed $69,900 MLSOK
• 2016-02-25 Sold (Public Records) $57,000 Public Records
• 2015-12-11 Sold (MLS) $57,000 MLSOK
• 2015-12-01 Pending — MLSOK
• 2015-11-15 Price Changed $59,900 MLSOK
• 2015-10-31 Listed $62,500 MLSOK
• 2013-07-16 Sold (Public Records) $45,000 Public Records
• 2013-07-12 Sold (MLS) $45,000 MLSOK
• 2013-03-12 Listed $49,900 MLSOK

Property tax history

+6.0%/yr

Latest (2025): $1,164 · +4.2% YoY. Source: county tax records.