3908 Goshawk Cir · Norman, OK 73072

$220,000

3 bd · 2.0 ba · 1,793 sqft · SingleFamily public records · 171 Days on market

Built 1994 0.30 ac lot Est $283k · 22% under ↓ 4% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.7/30.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Rent growth +3.7/5.0
• 1% rule +3.4/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WOW JUST REDUCED TO $220K - Tucked into a quiet pocket neighborhood on a dead-end street, just minutes from the University of Oklahoma, this hidden jewel offers space, privacy, and opportunity in a central Norman location with Eagle Cliff Park nearby. This 1.5-story home features an expansive backyard that offers space, privacy, and possibility. Upstairs, the home opens into a private retreat with a generous separate sitting area that could easily be used as an office or flex space, along with a primary bedroom featuring balcony access overlooking the backyard. The primary suite includes dual vanities, two separate closets, an oversized garden tub, and a separate shower, giving everyone the

Key facts

• Balcony access
• Dead-end street
• Expansive backyard

Tags

• QUIET POCKET NEIGHBORHOOD
• DEAD-END STREET
• EXPANSIVE BACKYARD
• PRIVATE RETREAT
• SEPARATE SITTING AREA
• BALCONY ACCESS

Property features AI

Finance

• Other: Lot approximately 0.3 acre; Located in the Eagle Cliff 6 addition; No storm shelter; Vacant and active listing
• Financial info: Listing sold as-is; Loan qualification allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Asphalt driveway; 2-car garage
• Utilities: Cable available; Electricity available; Natural gas available; High-speed internet available; Public utilities
• Home design: Single-family residence; One and one-half level; Residential property
• Construction: Brick and frame construction; Composition roof; Slab foundation
• Exterior features: Interior lot; No exterior special features listed

Interior

• Kitchen: Free-standing electric range/oven; Dishwasher; Disposal
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Interior features: In-law plan; Gas log fireplace; Dishwasher; Disposal; Water heater
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $15 ($179/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 $186k (15.5% below list).
• Recommended offer: $186k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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); Irving Ms (math 14% / reading 20%, grade F, #193 of 345 statewide, top 60%, 788 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); 383 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $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.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $185,798 (15.5% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $283,294
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
721 Gyrfalcon Dr	0.09mi	3/2.0	1,765 (-2%)	1mo	$260,000	$147	92
4020 Bald Eagle Dr	0.24mi	3/2.0	1,826 (+2%)	2mo	$255,000	$140	84
605 Verreaux Dr	0.19mi	3/2.0	1,905 (+6%)	3mo	$265,000	$139	78
4204 Caracara Ct	0.30mi	3/2.0	1,722 (-4%)	2mo	$285,000	$166	78
705 Night Hawk Dr	0.22mi	3/2.0	1,647 (-8%)	2mo	$260,000	$158	74
713 Gyrfalcon Dr	0.08mi	4/2.0 (+1)	1,984 (+11%)	1mo	$284,000	$143	72
4412 Spotted Owl Cir	0.50mi	3/2.0	1,821 (+2%)	4mo	$274,500	$151	71
4217 Caracara Ct	0.35mi	3/2.0	1,694 (-6%)	4mo	$275,000	$162	71
3916 Presidio Dr	0.32mi	3/2.0	1,948 (+9%)	5mo	$315,000	$162	66
516 Sperry Dr	0.27mi	3/2.0	1,541 (-14%)	2mo	$260,000	$169	62
4405 Spotted Owl Cir	0.49mi	3/2.0	1,539 (-14%)	0mo	$241,000	$157	53
3605 Addison Ave	0.72mi	4/2.0 (+1)	1,890 (+5%)	1mo	$345,000	$183	51

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-31,345
• Equity at exit: $32,803

10-year hold

• IRR: -2.6%
• Equity multiple: 0.81×
• Total profit: $-11,798
• Equity at exit: $19,022

Cash invested: $61,600 (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: 383
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,858 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$208 /mo · $2,490/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $15

Break-even live

Break-even rent $1,839

Max offer price $220,000

Occupancy floor 94%

Sensitivity live

Price	-10% $139	-5% $77	+0% $15	+5% $-47	+10% $-110
Rent	-10% $-132	-5% $-58	+0% $15	+5% $88	+10% $162
Rate	-1.0pp $126	-0.5pp $71	base $15	+0.5pp $-42	+1.0pp $-100

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3701 Truman Dr Norman, OK	3.0	2.0	1534	$1,800	$1.17	25d	1	0.24mi
720 Night Hawk Dr Norman, OK	3.0	2.0	1570	$1,750	$1.11	3d	1	0.27mi
427 Dalton Ln Norman, OK	4.0	2.0	1666	$1,775	$1.07	25d	1	0.34mi
3810 Reid Pryor Rd Norman, OK	3.0	2.0	2052	$2,300	$1.12	25d	1	0.38mi
4403 12th Ave SE Norman, OK	1.0–2.0	1.0–2.0	950	$2,581	$2.72	3d	23	0.51mi
905 Accipiter St Norman, OK	3.0	2.0	1654	$1,695	$1.02	3d	1	0.53mi
3816 Lleyton Dr Norman, OK	4.0	2.0	1565	$2,095	$1.34	6d	1	0.85mi
3816 Lleyton Dr Norman, OK	4.0	2.0	1565	$2,095	$1.34	3d	1	0.85mi
3903 Lleyton Dr Norman, OK	3.0	2.0	1300	$1,750	$1.35	19d	1	0.90mi
3903 Lleyton Dr Norman, OK	3.0	2.0	1300	$1,750	$1.35	25d	1	0.90mi
3417 Shadow St Norman, OK	3.0	2.0	1378	$1,500	$1.09	5d	1	0.97mi
1600 Ann Branden Blvd Norman, OK	1.0–3.0	1.0–2.0	1052	$1,829	$1.74	3d	14	1.06mi
3400 Lyric St Norman, OK	3.0	2.0	1387	$1,850	$1.33	3d	1	1.17mi
2301 Bretford Way Norman, OK	4.0	2.0	2084	$2,495	$1.20	5d	1	1.43mi

Listing history 19 events

1. 2026-06-21
   days on market $220,000 Active 171 DOM
2. 2026-06-18
   days on market $220,000 Active 168 DOM
3. 2026-06-17
   days on market $220,000 Active 167 DOM
4. 2026-06-16
   days on market $220,000 Active 166 DOM
5. 2026-06-15
   days on market $220,000 Active 165 DOM
6. 2026-06-13
   days on market $220,000 Active 163 DOM
7. 2026-06-09
   days on market $220,000 Active 159 DOM
8. 2026-06-08
   days on market $220,000 Active 158 DOM
9. 2026-06-07
   days on market $220,000 Active 157 DOM
10. 2026-06-05
    days on market $220,000 Active 154 DOM
11. 2026-06-03
    days on market $220,000 Active 153 DOM
12. 2026-06-02
    days on market $220,000 Active 152 DOM
13. 2026-06-01
    days on market $220,000 Active 151 DOM
14. 2026-05-31
    days on market $220,000 Active 150 DOM
15. 2026-05-16
    status Active
16. 2026-05-01
    status Pending
17. 2026-04-13
    price $220,000
18. 2026-02-27
    price $225,000
19. 2025-12-17
    listed $230,000 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: $2,490 · $208/mo
• Projected year-2 tax: $2,490 · $208/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: $22,296
• − Mortgage interest: −$12,323
• − Property taxes: −$2,490
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,784
• − Management: −$1,784
• − Depreciation: −$6,400
• Taxable loss: −$3,585
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $1,040/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

-4.3% since first listed

5 events — show timeline

• 2026-05-16 Relisted — MLSOK
• 2026-05-01 Pending — MLSOK
• 2026-04-13 Price Changed $220,000 MLSOK
• 2026-02-27 Price Changed $225,000 MLSOK
• 2025-12-17 Listed $230,000 MLSOK

Property tax history

+2.0%/yr

Latest (2024): $2,490 · +4.8% YoY. Source: county tax records.