818 Cardinal Creek Blvd Unit D · Norman, OK 73072

$95,000

2 bd · 1.0 ba · 707 sqft · Condo public records · 187 Days on market

Built 1972 $224/mo HOA · 16% of rent

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Why this score? — see what drove the B- 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 +26.8/30.0
• 1% rule +9.6/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OU GAMEDAY GETAWAY!! Welcome to your weekend paradise with this PERFECT spot to enjoy the best amenities in Norman with NO maintenance. Nestled among the shady mature trees situated in a gated neighborhood over a secluded creek overlooking the community's pool, and gym, right next to the golf course. Convenient access to Highway 9 and I-35, don't miss this gem! Priced to sell!! NEW carpet, vinyl windows and some other updates! Come take a look!! Why rent? Perfect for someone's retreat or for your student's housing. Upper level, one story unit.

Key facts

• Fresh paint
• Community pool
• All new flooring

Tags

• UPDATED REFRIGERATOR
• UPDATED STOVE
• GRANITE COUNTERTOPS
• COMMUNITY POOL
• ALL NEW FLOORING
• FRESH PAINT

Property features AI

Finance

• Other: Living area reported as 707 (assessor)
• Financial info: Loan qualification allowed; Not assumable
• HOA & community: Mandatory association dues; Association fee $2,688 (includes common area maintenance)

Exterior

• Utilities: No storm shelter
• Home design: Condominium (residential); Upper-level unit; Existing property
• Construction: Frame and masonry veneer construction; Composition roof; Slab foundation; Built (existing)
• Exterior features: Open patio; Interior lot

Interior

• Bedrooms: 1 bedroom (upper level, condo)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: Madison Es (math 22% / reading 17%, grade F, #479 of 845 statewide, top 63%, 347 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 (+4.8%/yr); 382 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $657 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.80%
• DSCR: 1.52
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $3,901
• Equity at exit: $14,165

10-year hold

• IRR: 15.2%
• Equity multiple: 2.36×
• Total profit: $36,057
• Equity at exit: $8,214

Cash invested: $26,600 (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 73072

• Rents YoY: 4.8%
• Active inventory: 382
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,386 high
• Mortgage (P&I): −$498
• Tax from tax record: −$72 /mo · $863/yr
• Insurance: −$40
• HOA: −$224
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $261

Break-even live

Break-even rent $1,055

Max offer price $95,000

Occupancy floor 76%

Sensitivity live

Price	-10% $315	-5% $288	+0% $261	+5% $235	+10% $208
Rent	-10% $152	-5% $207	+0% $261	+5% $316	+10% $371
Rate	-1.0pp $309	-0.5pp $286	base $261	+0.5pp $237	+1.0pp $212

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2900 Oak Tree Ave Norman, OK	3.0–4.0	2.0–3.0	356	$1,572	$4.42	3d	1	0.51mi
1900 Renaissance Dr Norman, OK	1.0–3.0	1.0–2.0	883	$1,051	$1.19	24d	1	0.94mi
4403 12th Ave SE Norman, OK	1.0–2.0	1.0–2.0	950	$2,581	$2.72	3d	23	1.13mi
500 Stinson St Norman, OK	2.0	1.0	696	$1,000	$1.44	24d	1	1.29mi
3927 24th Ave SE Norman, OK	1.0–2.0	1.0–2.0	818	$1,200	$1.47	3d	1	1.44mi
3701 24th Ave SE Norman, OK	1.0–2.0	1.0–2.0	818	$1,200	$1.47	3d	1	1.48mi

HOA detail condo

• Monthly dues: $224 · $2,688/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-04-11
   status Pending
2. 2026-01-15
   price $95,000
3. 2025-10-16
   price $99,999
4. 2025-10-06
   listed $105,000 Active
5. 2024-11-08
   historical 549-char remark

   Show marketing remark (549 chars)

   OU GAMEDAY GETAWAY!! Welcome to your weekend paradise with this PERFECT spot to enjoy the best amenities in Norman with NO maintenance. Nestled among the shady mature trees situated in a gated neighborhood over a secluded creek overlooking the community's pool, and gym, right next to the golf course. Convenient access to Highway 9 and I-35, don't miss this gem! Priced to sell!! NEW carpet, vinyl windows and some other updates! Come take a look!! Why rent? Perfect for someone's retreat or for your student's housing. Upper level, one story unit.

6. 2024-11-07
   soldstatus $70,000
7. 2024-11-04
   soldstatus $70,000 Closed 549-char remark

   Show marketing remark (549 chars)

   OU GAMEDAY GETAWAY!! Welcome to your weekend paradise with this PERFECT spot to enjoy the best amenities in Norman with NO maintenance. Nestled among the shady mature trees situated in a gated neighborhood over a secluded creek overlooking the community's pool, and gym, right next to the golf course. Convenient access to Highway 9 and I-35, don't miss this gem! Priced to sell!! NEW carpet, vinyl windows and some other updates! Come take a look!! Why rent? Perfect for someone's retreat or for your student's housing. Upper level, one story unit.

8. 2024-09-26
   status Pending 549-char remark

   Show marketing remark (549 chars)

   OU GAMEDAY GETAWAY!! Welcome to your weekend paradise with this PERFECT spot to enjoy the best amenities in Norman with NO maintenance. Nestled among the shady mature trees situated in a gated neighborhood over a secluded creek overlooking the community's pool, and gym, right next to the golf course. Convenient access to Highway 9 and I-35, don't miss this gem! Priced to sell!! NEW carpet, vinyl windows and some other updates! Come take a look!! Why rent? Perfect for someone's retreat or for your student's housing. Upper level, one story unit.

9. 2024-09-07
   listed $75,990 Active 549-char remark

   Show marketing remark (549 chars)

   OU GAMEDAY GETAWAY!! Welcome to your weekend paradise with this PERFECT spot to enjoy the best amenities in Norman with NO maintenance. Nestled among the shady mature trees situated in a gated neighborhood over a secluded creek overlooking the community's pool, and gym, right next to the golf course. Convenient access to Highway 9 and I-35, don't miss this gem! Priced to sell!! NEW carpet, vinyl windows and some other updates! Come take a look!! Why rent? Perfect for someone's retreat or for your student's housing. Upper level, one story unit.

10. 2016-02-04
    soldstatus $49,000
11. 2016-02-03
    soldstatus $49,000 Sold 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

12. 2015-12-22
    status Pending 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

13. 2015-09-17
    status Active 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

14. 2015-09-17
    historical 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

15. 2015-08-14
    price $54,500 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

16. 2015-08-06
    price $55,900 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

17. 2015-07-21
    status Active 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

18. 2015-07-17
    historical 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

19. 2015-06-04
    price $57,500 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

20. 2015-04-15
    price $59,900 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

21. 2015-04-02
    listed $62,500 Active 411-char remark

    Show marketing remark (411 chars)

    Condo will now go FHA!! Beautiful, shady, serene location. Nestled in tall trees on rolling terrain next to the OU golf course. Balcony overlooks the pool area, new dishwasher, Shaw heavy grade carpeting, bath floor re-tiled. The homeowners association includes the pool, clubhouse, laundry, electronic gate, water, garbage and common maintenance. Why rent? Buy this for your OU student. Upper Level, one story.

22. 2008-04-03
    soldstatus $56,000
23. 2005-11-28
    soldstatus $48,500
24. 2002-05-13
    soldstatus $40,000
25. 1997-02-18
    soldstatus $26,000

ⓘ 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: $863 · $72/mo
• Projected year-2 tax: $863 · $72/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 5% 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: $16,635
• − Mortgage interest: −$5,321
• − Property taxes: −$863
• − Insurance: −$475
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − HOA: −$2,688
• − Depreciation: −$2,764
• Taxable income: $1,863
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $2,691/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): 50,881
• Household income: $78,546
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2491.0

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 (72%)
• Race & ethnicity: White 72% Two or more races 10% Hispanic / Latino 8% Asian 6% Native American 4% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 2%
• Foreign-born: 7% · China, Canada, Dominican Republic
• Languages at home: 89% English-only · Spanish 4% Chinese 3% Other Indo-European 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: ▼ -190.27%
• Current HPI: 221.8007
• Rent YoY: ▲ 4.77%
• 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

+265.4% since first listed

25 events — show timeline

• 2026-04-11 Pending — MLSOK
• 2026-01-15 Price Changed $95,000 MLSOK
• 2025-10-16 Price Changed $99,999 MLSOK
• 2025-10-06 Listed $105,000 MLSOK
• 2024-11-08 Listing Removed — MLSOK
• 2024-11-07 Sold (Public Records) $70,000 Public Records
• 2024-11-04 Sold (MLS) $70,000 MLSOK
• 2024-09-26 Pending — MLSOK
• 2024-09-07 Listed $75,990 MLSOK
• 2016-02-04 Sold (Public Records) $49,000 Public Records
• 2016-02-03 Sold (MLS) $49,000 MLSOK
• 2015-12-22 Pending — MLSOK
• 2015-09-17 Relisted — MLSOK
• 2015-09-17 Listing Removed — MLSOK
• 2015-08-14 Price Changed $54,500 MLSOK
• 2015-08-06 Price Changed $55,900 MLSOK
• 2015-07-21 Relisted — MLSOK
• 2015-07-17 Listing Removed — MLSOK
• 2015-06-04 Price Changed $57,500 MLSOK
• 2015-04-15 Price Changed $59,900 MLSOK
• 2015-04-02 Listed $62,500 MLSOK
• 2008-04-03 Sold (Public Records) $56,000 Public Records
• 2005-11-28 Sold (Public Records) $48,500 Public Records
• 2002-05-13 Sold (Public Records) $40,000 Public Records
• 1997-02-18 Sold (Public Records) $26,000 Public Records

Property tax history

+4.0%/yr

Latest (2024): $863 · +4.5% YoY. Source: county tax records.