1026 Biloxi Dr · Norman, OK 73071

$100,000

2 bd · 1.0 ba · 908 sqft · SingleFamily public records · 30 Days on market

Built 1969 7,841 sqft lot Est $152k · 34% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Norman with major upside potential! This property is ready for a full remodel and offers the chance to completely transform the space into a strong resale or long-term investment property. With the right vision and updates, this could be an excellent addition to any investor’s portfolio. Located in an established area with convenient access to the university, shopping, dining, and major highways, the location adds strong appeal for future buyers or tenants. The home offers a solid opportunity for investors, contractors, or renovators looking for their next project in a growing market with continued demand. Bring your contractor and your vision — opportuni

Key facts

• Established area
• Convenient access
• Solid opportunity

Tags

• FULL REMODEL
• CONVENIENT ACCESS
• ESTABLISHED AREA
• SOLID OPPORTUNITY

Property features AI

Finance

• Other: Located in Norman school district; Directions: From 12th Ave SE, turn onto E Louisiana St, then take a left onto Biloxi Dr; property will be on the left; Occupied; Listed as Active
• Financial info: Loan qualification allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Home design: Single-family residence; Residential property; Entry on one level
• Construction: Brick construction; Composition roof; Slab foundation; Existing property
• Exterior features: Interior lot; Located in Colonial Estates 2

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One-level living; Living area approximately 908 (source: assessor); No fireplace; No study

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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+.
• 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: Kennedy Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 487 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 (+2.8%/yr); 350 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

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 $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — 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: 1.03% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.24%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $151,636
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1337 E Brooks St	0.10mi	2/1.5	975 (+7%)	2mo	$169,900	$174	79
1217 Charleston Ct	0.19mi	3/1.0 (+1)	950 (+5%)	2mo	$175,000	$184	77
1016 Montgomery Cir	0.17mi	3/1.5 (+1)	994 (+10%)	4mo	$142,000	$143	66
610 Albany Pl	0.34mi	3/1.0 (+1)	875 (-4%)	11mo	$162,000	$185	64
1345 E Brooks St	0.10mi	3/1.0 (+1)	1,005 (+11%)	12mo	$121,000	$120	63
1201 E Louisiana St	0.17mi	3/1.5 (+1)	993 (+9%)	11mo	$166,900	$168	60
2017 Elmhurst Dr	0.63mi	3/1.5 (+1)	954 (+5%)	1mo	$155,500	$163	55
992 Barkley Cir	0.48mi	3/1.5 (+1)	992 (+9%)	6mo	$130,000	$131	50
327 Skyline Dr	0.52mi	3/1.0 (+1)	988 (+9%)	9mo	$195,000	$197	48
629 Tollie Dr	0.74mi	2/1.0	840 (-8%)	8mo	$140,000	$167	46
1630 Sheffield Dr	0.66mi	3/1.5 (+1)	1,024 (+13%)	4mo	$150,000	$146	38
1703 Surrey Pl	0.61mi	3/1.0 (+1)	1,036 (+14%)	11mo	$146,600	$142	34

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 · 2.8% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-5,660
• Equity at exit: $14,910

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $8,035
• Equity at exit: $8,646

Cash invested: $28,000 (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 73071

• Rents YoY: 2.8%
• Active inventory: 350
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,032 high
• Mortgage (P&I): −$524
• Tax from tax record: −$80 /mo · $965/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $169

Break-even live

Break-even rent $818

Max offer price $100,000

Occupancy floor 79%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 Biloxi Dr Norman, OK	1.0–2.0	1.0	818	$909	$1.11	11d	3	0.10mi
1400 E Lindsey St Norman, OK	2.0	2.5	896	$889	$0.99	23d	1	0.16mi
717 Biloxi Dr Norman, OK	2.0	2.0	1000	$975	$0.97	23d	1	0.23mi
1149 W Brooks St Norman, OK	1.0–4.0	1.0–2.0	1025	$1,053	$1.03	1d	7	0.26mi
1703 E Lindsey St Norman, OK	2.0	2.0	1101	$1,100	$1.00	23d	1	0.27mi
1120 Arkansas St Norman, OK	2.0	1.0	941	$850	$0.90	14d	1	0.28mi
1502 E Lindsey St Norman, OK	1.0–2.0	1.0–2.0	755	$989	$1.31	2d	1	0.28mi
1106 Arkansas St Norman, OK	1.0	1.0	568	$725	$1.28	23d	1	0.32mi
1417 Concord Dr #1419 Norman, OK	2.0	2.0	1056	$1,150	$1.09	23d	1	0.35mi
1300 12th Ave NE Norman, OK	2.0–3.0	1.0–2.0	925	$959	$1.04	1d	4	0.35mi
1817 Beaumont Dr Norman, OK	3.0	2.0	1100	$1,200	$1.09	23d	1	0.35mi
1301 Eastgate Dr Norman, OK	2.0	2.5	950	$935	$0.98	3d	1	0.36mi
1008 Arkansas St Norman, OK	2.0	1.0	941	$850	$0.90	14d	1	0.41mi
829 Russell Cir Norman, OK	2.0	1.0	825	$1,000	$1.21	23d	1	0.47mi
828 Russell Cir Norman, OK	2.0	1.0	768	$1,050	$1.37	3d	1	0.48mi
2023 Delaware Ln Norman, OK	2.0	1.0	720	$1,000	$1.39	23d	1	0.48mi
833 Owl St Norman, OK	2.0	1.0	810	$1,000	$1.23	23d	1	0.49mi
826 Russell Cir Unit 826 Norman, OK	2.0	2.0	877	$1,050	$1.20	23d	1	0.49mi
824 Russell Cir Norman, OK	2.0	2.0	877	$1,050	$1.20	23d	1	0.49mi
2035 Delaware Ln Norman, OK	2.0	1.0	783	$1,000	$1.28	23d	1	0.49mi
820 Russell Cir Norman, OK	3.0	1.5	940	$1,050	$1.12	23d	1	0.50mi
821 Russell Cir Unit 821 Norman, OK	3.0	1.5	877	$1,050	$1.20	23d	1	0.50mi
2258 Donna Dr Norman, OK	2.0	1.0	930	$900	$0.97	3d	1	0.51mi
819 E Lindsey St Norman, OK	2.0	1.0	700	$850	$1.21	2d	1	0.54mi
2227 Donna Dr Norman, OK	2.0	1.0	841	$1,000	$1.19	21d	1	0.56mi
2227 Donna Dr Norman, OK	2.0	1.0	841	$1,000	$1.19	23d	1	0.56mi
401 12th Ave SE Norman, OK	1.0–2.0	1.0–2.0	842	$949	$1.13	3d	2	0.56mi
2124 Allenhurst St Norman, OK	3.0	1.5	1122	$1,350	$1.20	23d	1	0.67mi
300 Chalmette Dr Unit A Norman, OK	2.0	1.0	975	$875	$0.90	3d	1	0.67mi
1301 Amhurst Ave Norman, OK	3.0	1.5	1023	$1,075	$1.05	21d	1	0.70mi
1744 Classen Blvd Unit 2 Norman, OK	1.0	1.0	550	$750	$1.36	3d	1	0.72mi
900 23rd St SE Unit 08-2318 Norman, OK	2.0	2.0	875	$945	$1.08	23d	1	0.72mi
900 23rd St SE Unit 18-928 Norman, OK	2.0	2.0	875	$995	$1.14	23d	1	0.72mi
1900 Dover St Unit A Norman, OK	2.0	1.0	948	$1,095	$1.16	3d	1	0.74mi
1900 Dover St Norman, OK	2.0	1.0	975	$1,200	$1.23	21d	1	0.74mi
1322 Glen Oaks Ct Norman, OK	2.0	1.5	844	$1,000	$1.18	3d	1	0.75mi
1331 Glen Oaks Ct Unit 4 Norman, OK	2.0	1.0	880	$880	$1.00	3d	1	0.79mi
1616 Alameda St Norman, OK	1.0–2.0	1.0–1.5	975	$980	$1.01	23d	8	0.81mi
1616 Alameda St Norman, OK	2.0	1.0–1.5	925	$938	$1.01	10d	1	0.81mi
1812 E Alameda St Norman, OK	1.0	1.0	906	$925	$1.02	14d	1	0.86mi

Listing history 14 events

1. 2026-06-18
   days on market $100,000 Active 30 DOM
2. 2026-06-17
   days on market $100,000 Active 29 DOM
3. 2026-06-16
   days on market $100,000 Active 28 DOM
4. 2026-06-15
   days on market $100,000 Active 27 DOM
5. 2026-06-13
   days on market $100,000 Active 25 DOM
6. 2026-06-09
   days on market $100,000 Active 21 DOM
7. 2026-06-08
   days on market $100,000 Active 20 DOM
8. 2026-06-07
   days on market $100,000 Active 19 DOM
9. 2026-06-05
   days on market $100,000 Active 16 DOM
10. 2026-06-03
    days on market $100,000 Active 15 DOM
11. 2026-06-02
    days on market $100,000 Active 14 DOM
12. 2026-06-01
    days on market $100,000 Active 13 DOM
13. 2026-05-31
    days on market $100,000 Active 12 DOM
14. 2026-05-19
    listed $105,000 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: $965 · $80/mo
• Projected year-2 tax: $965 · $80/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $12,387
• − Mortgage interest: −$5,602
• − Property taxes: −$965
• − Insurance: −$500
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$2,909
• Taxable income: $430
• Est. tax owed @ 24.0%: −$103
• After-tax cash flow: $1,925/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): 43,798
• Household income: $64,007
• Rent vs Own: 51.8% rent · 48.2% own
• Severe rent burden: 1903.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 12% Black 8% Hispanic / Latino 8% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Serbian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 5% 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: ▼ -187.04%
• Current HPI: 249.3797
• Rent YoY: ▲ 2.80%
• 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

1 event — show timeline

• 2026-05-19 Listed $105,000 MLSOK

Property tax history

+1.7%/yr

Latest (2024): $965 · +3.0% YoY. Source: county tax records.