801 Cardinal Creek Blvd Unit C · Norman, OK 73072

$135,000

3 bd · 2.0 ba · 1,379 sqft · Condo public records · 68 Days on market

Built 1972 $420/mo HOA · 26% 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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• DSCR +3.4/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cutest condo in Cardinal Creek! RARE 3 bedroom 2 full bath. Large living & large bedrooms. Boasts lots of storage! Views of OU Golf Course, NEW wood look floors & paint! Updates to baths. NEW! HVAC! Wood-burning Fireplace, 2 balconies, 2 dining and *W/D & fridge stay! Several walk-in closets. Extra quiet complex. Pool, GATED entry, water, sewer/trash, all exterior maint, roof, some insurance and other items all covered by HOA. Make your appt. TODAY! It is priced below market! Will not last!

Key facts

• Oversized closets
• Kitchen pantry
• Pool

Tags

• CARDINAL CREEK GATED COMMUNITY
• TWO PRIVATE BALCONIES
• ABUNDANT STORAGE
• OVERSIZED CLOSETS
• KITCHEN PANTRY
• POOL

Property features AI

Finance

• Other: Tax amount available but excluded from feature list
• Financial info: Assumable: No; Loan qualify: Does not apply
• HOA & community: Mandatory association dues; Association fee includes gated entry, common area maintenance, exterior maintenance, partial utilities, and pool

Exterior

• Security: Gated entry (community amenity)
• Home design: Condominium; upper-level unit; Residential property; existing condition; Located in Cardinal Creek Rplt
• Construction: Stucco construction; Composition roof; Slab foundation
• Exterior features: Private outdoor pool; No additional exterior features listed

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: One living area; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $-41 ($-498/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (5.4% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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; 35 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $933 of loan paydown is wiped out by about $4k 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 68 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $103k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• 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 $126,900 (6.0% 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 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.20% ✓
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 6.9

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: -15.4%
• Equity multiple: 0.44×
• Total profit: $-21,310
• Equity at exit: $20,129

10-year hold

• IRR: -3.0%
• Equity multiple: 0.78×
• Total profit: $-8,358
• Equity at exit: $11,672

Cash invested: $37,800 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,624 high
• Mortgage (P&I): −$708
• Tax from tax record: −$140 /mo · $1,686/yr
• Insurance: −$56
• HOA: −$420
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-41

Break-even live

Break-even rent $1,677

Max offer price $127,669

Occupancy floor 98%

Sensitivity live

Price	-10% $35	-5% $-3	+0% $-41	+5% $-80	+10% $-118
Rent	-10% $-170	-5% $-106	+0% $-41	+5% $23	+10% $87
Rate	-1.0pp $26	-0.5pp $-7	base $-41	+0.5pp $-76	+1.0pp $-112

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Peregrine Dr Norman, OK	3.0	2.0	1030	$1,450	$1.41	5d	1	0.53mi
3701 Truman Dr Norman, OK	3.0	2.0	1534	$1,800	$1.17	25d	1	0.59mi
427 Dalton Ln Norman, OK	4.0	2.0	1666	$1,775	$1.07	25d	1	0.59mi
1600 Ann Branden Blvd Norman, OK	1.0–3.0	1.0–2.0	1052	$1,829	$1.74	3d	14	0.89mi
720 Night Hawk Dr Norman, OK	3.0	2.0	1570	$1,750	$1.11	3d	1	0.97mi
1900 Renaissance Dr Norman, OK	2.0–3.0	2.0	1015	$1,205	$1.19	3d	2	0.99mi
1900 Renaissance Dr Norman, OK	1.0–3.0	1.0–2.0	883	$1,220	$1.38	25d	1	0.99mi
3417 Shadow St Norman, OK	3.0	2.0	1378	$1,500	$1.09	5d	1	1.04mi
1301 Cedar Creek Dr Norman, OK	3.0	2.0	1458	$1,599	$1.10	16d	1	1.11mi
4403 12th Ave SE Norman, OK	1.0–2.0	1.0–2.0	950	$2,581	$2.72	3d	23	1.15mi
3816 Lleyton Dr Norman, OK	4.0	2.0	1565	$2,095	$1.34	6d	1	1.16mi
3816 Lleyton Dr Norman, OK	4.0	2.0	1565	$2,095	$1.34	3d	1	1.16mi
3400 Lyric St Norman, OK	3.0	2.0	1387	$1,850	$1.33	3d	1	1.19mi
511 Manor Dr Norman, OK	3.0	1.5	1400	$1,550	$1.11	5d	1	1.19mi
1716 Briarcreek Norman, OK	4.0	2.0	1734	$1,845	$1.06	16d	1	1.19mi
2005 Wolford Way Norman, OK	3.0	2.5	1203	$1,600	$1.33	16d	1	1.20mi
3903 Lleyton Dr Norman, OK	3.0	2.0	1300	$1,750	$1.35	19d	1	1.21mi
3903 Lleyton Dr Norman, OK	3.0	2.0	1300	$1,750	$1.35	25d	1	1.21mi
2009 Wolford Way Norman, OK	3.0	2.5	1203	$1,600	$1.33	13d	1	1.21mi
905 Accipiter St Norman, OK	3.0	2.0	1654	$1,695	$1.02	3d	1	1.22mi
1913 Oakmeadows Dr Norman, OK	3.0	2.0	1820	$1,595	$0.88	25d	1	1.24mi
511 Fleetwood Dr Norman, OK	3.0	1.0	912	$1,350	$1.48	5d	1	1.25mi
1424 Teakwood Dr Norman, OK	4.0	2.0	1842	$1,900	$1.03	25d	1	1.27mi
3320 Ridgecrest Cir Unit 3322 Norman, OK	2.0	2.0	1375	$1,295	$0.94	16d	1	1.29mi
2258 Donna Dr Norman, OK	2.0	1.0	930	$900	$0.97	5d	1	1.30mi
3318 Ridgecrest Cir Unit 3318 Norman, OK	2.0	2.0	1275	$1,295	$1.02	5d	1	1.31mi
2900 Chautauqua Ave Norman, OK	2.0	1.0	1060	$970	$0.91	3d	1	1.33mi
1301 Eastgate Dr Norman, OK	2.0	2.5	950	$935	$0.98	5d	1	1.39mi
1731 Concord Dr Norman, OK	3.0	2.0	1552	$1,650	$1.06	25d	1	1.39mi
1300 12th Ave NE Norman, OK	2.0–3.0	1.0–2.0	925	$1,329	$1.44	3d	4	1.42mi
1417 Concord Dr #1419 Norman, OK	2.0	2.0	1056	$1,150	$1.09	25d	1	1.44mi
1708 Creekside Ct Norman, OK	3.0	2.0	1604	$1,800	$1.12	25d	1	1.46mi
1508 Creekside Dr Norman, OK	4.0	2.5	1580	$1,760	$1.11	22d	1	1.48mi
1805 Terryton Dr Norman, OK	3.0	3.0	1413	$1,450	$1.03	25d	1	1.49mi
3927 24th Ave SE Norman, OK	1.0–2.0	1.0–2.0	818	$1,200	$1.47	3d	1	1.49mi

HOA detail condo

• Monthly dues: $420 · $5,040/yr
• Likely covers: watersewertrashpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $135,000 Active 68 DOM
2. 2026-06-18
   days on market $135,000 Active 65 DOM
3. 2026-06-17
   days on market $135,000 Active 64 DOM
4. 2026-06-16
   days on market $135,000 Active 63 DOM
5. 2026-06-15
   days on market $135,000 Active 62 DOM
6. 2026-06-13
   days on market $135,000 Active 60 DOM
7. 2026-06-09
   days on market $135,000 Active 56 DOM
8. 2026-06-08
   days on market $135,000 Active 55 DOM
9. 2026-06-07
   days on market $135,000 Active 54 DOM
10. 2026-06-05
    days on market $135,000 Active 51 DOM
11. 2026-06-03
    days on market $135,000 Active 50 DOM
12. 2026-06-02
    days on market $135,000 Active 49 DOM
13. 2026-06-01
    days on market $135,000 Active 48 DOM
14. 2026-05-31
    days on market $135,000 Active 47 DOM
15. 2026-05-16
    price $140,000
16. 2026-04-30
    price $145,000
17. 2026-04-14
    listed $150,000 Active
18. 2023-12-03
    historical $1,050
19. 2023-11-03
    price $1,050
20. 2023-10-27
    price $1,100
21. 2023-10-26
    price $1,150
22. 2023-10-25
    price $1,125
23. 2023-10-20
    price $1,150
24. 2023-10-14
    price $1,175
25. 2023-10-11
    price $1,200
26. 2023-10-06
    price $1,295
27. 2023-09-26
    listed $1,350
28. 2020-07-01
    historical
29. 2019-12-21
    price $100,000
30. 2019-08-27
    price $105,000
31. 2019-02-18
    listed $110,000 Active
32. 2018-04-02
    soldstatus $103,000
33. 2018-03-30
    soldstatus $102,700 Sold 510-char remark

    Show marketing remark (510 chars)

    Cutest condo in Cardinal Creek! RARE 3 bedroom 2 full bath. Large living & large bedrooms. Boasts lots of storage! Views of OU Golf Course, NEW wood look floors & paint! Updates to baths. NEW! HVAC! Wood-burning Fireplace, 2 balconies, 2 dining and *W/D & fridge stay! Several walk-in closets. Extra quiet complex. Pool, GATED entry, water, sewer/trash, all exterior maint, roof, some insurance and other items all covered by HOA. Make your appt. TODAY! It is priced below market! Will not last!

34. 2018-03-13
    status Pending 510-char remark

    Show marketing remark (510 chars)

    Cutest condo in Cardinal Creek! RARE 3 bedroom 2 full bath. Large living & large bedrooms. Boasts lots of storage! Views of OU Golf Course, NEW wood look floors & paint! Updates to baths. NEW! HVAC! Wood-burning Fireplace, 2 balconies, 2 dining and *W/D & fridge stay! Several walk-in closets. Extra quiet complex. Pool, GATED entry, water, sewer/trash, all exterior maint, roof, some insurance and other items all covered by HOA. Make your appt. TODAY! It is priced below market! Will not last!

35. 2018-03-06
    listed $102,700 Active 510-char remark

    Show marketing remark (510 chars)

    Cutest condo in Cardinal Creek! RARE 3 bedroom 2 full bath. Large living & large bedrooms. Boasts lots of storage! Views of OU Golf Course, NEW wood look floors & paint! Updates to baths. NEW! HVAC! Wood-burning Fireplace, 2 balconies, 2 dining and *W/D & fridge stay! Several walk-in closets. Extra quiet complex. Pool, GATED entry, water, sewer/trash, all exterior maint, roof, some insurance and other items all covered by HOA. Make your appt. TODAY! It is priced below market! Will not last!

36. 2016-04-26
    soldstatus $92,500
37. 2016-03-19
    historical
38. 2015-09-18
    listed $93,900 Active
39. 2002-07-01
    soldstatus $78,000
40. 1995-06-01
    soldstatus $46,500

ⓘ 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: $1,686 · $140/mo
• Projected year-2 tax: $1,686 · $140/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: $19,492
• − Mortgage interest: −$7,562
• − Property taxes: −$1,686
• − Insurance: −$675
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − HOA: −$5,040
• − Depreciation: −$3,927
• Taxable loss: −$2,517
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $106/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

+201.1% since first listed

26 events — show timeline

• 2026-05-16 Price Changed $140,000 MLSOK
• 2026-04-30 Price Changed $145,000 MLSOK
• 2026-04-14 Listed $150,000 MLSOK
• 2023-12-03 Rental Removed $1,050 RENTLY
• 2023-11-03 Price Changed $1,050 RENTLY
• 2023-10-27 Price Changed $1,100 RENTLY
• 2023-10-26 Price Changed $1,150 RENTLY
• 2023-10-25 Price Changed $1,125 RENTLY
• 2023-10-20 Price Changed $1,150 RENTLY
• 2023-10-14 Price Changed $1,175 RENTLY
• 2023-10-11 Price Changed $1,200 RENTLY
• 2023-10-06 Price Changed $1,295 RENTLY
• 2023-09-26 Listed for Rent $1,350 RENTLY
• 2020-07-01 Listing Removed — MLSOK
• 2019-12-21 Price Changed $100,000 MLSOK
• 2019-08-27 Price Changed $105,000 MLSOK
• 2019-02-18 Listed $110,000 MLSOK
• 2018-04-02 Sold (Public Records) $103,000 Public Records
• 2018-03-30 Sold (MLS) $102,700 MLSOK
• 2018-03-13 Pending — MLSOK
• 2018-03-06 Listed $102,700 MLSOK
• 2016-04-26 Sold (Public Records) $92,500 Public Records
• 2016-03-19 Listing Removed — MLSOK
• 2015-09-18 Listed $93,900 MLSOK
• 2002-07-01 Sold (Public Records) $78,000 Public Records
• 1995-06-01 Sold (Public Records) $46,500 Public Records

Property tax history

+4.9%/yr

Latest (2024): $1,686 · +4.7% YoY. Source: county tax records.