132 S Flood Ave · Norman, OK 73069

$174,900

2 bd · 2.0 ba · 1,230 sqft · SingleFamily public records · 3 Days on market

Built 1930 6,970 sqft lot Est $202k · 13% under

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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 +13.6/30.0
• ARV discount +13.5/15.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +3.0/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large corner lot, 2 bedrooms plus sitting area.Large utility room with extra space for office.

Key facts

• Light commercial
• Hard corner
• Duplexes

Tags

• CONTIGUOUS LOTS
• HARD CORNER
• C-1/O-1 ZONING
• R-2 MEDIUM DENSITY ZONING
• LIGHT COMMERCIAL
• DUPLEXES

Property features AI

Finance

• Other: Occupied; Directions: Travel from Main St — turn south on Flood; property is on the right
• Financial info: Loan qualification allowed
• HOA & community: No mandatory association dues

Exterior

• Utilities: No storm shelter
• Home design: Single family residence; Residential property; One story; Located in the McNamee addition
• Construction: Other construction materials; Shingle roof; Built as an existing property
• Exterior features: Infill lot; No exterior special features listed

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: One-level living; Slab foundation; Appraised living area reported

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $8 ($101/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 $140k (19.7% below list).
• Recommended offer: $140k (19.7% 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: Mckinley Es (math 62% / reading 57%, grade B-, #10 of 845 statewide, top 2%, 383 students, 0% FRL); Alcott Ms (math 19% / reading 32%, grade F, #84 of 345 statewide, top 26%, 713 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 (+7.7%/yr); 253 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $1k of loan paydown is wiped out by about $5k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $365k (68%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $175k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $140,493 (19.7% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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?
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.21%
• DSCR: 1.01
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $201,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 W Daws St	0.35mi	2/1.0	1,184 (-4%)	2mo	$192,500	$163	71
915 W Comanche St	0.15mi	3/2.0 (+1)	1,104 (-10%)	0mo	$335,000	$303	71
1312 Salsbury St	0.50mi	3/1.5 (+1)	1,230 (0%)	3mo	$205,000	$167	67
1202 Glenwood Ave	0.46mi	3/1.5 (+1)	1,221 (-1%)	4mo	$250,000	$205	67
1203 Barbour St	0.40mi	3/2.0 (+1)	1,309 (+6%)	0mo	$215,000	$164	65
1008 Mcnamee St	0.31mi	3/2.0 (+1)	1,378 (+12%)	5mo	$312,000	$226	56
751 Iowa St	0.53mi	3/1.0 (+1)	1,148 (-7%)	2mo	$172,460	$150	54
607 Nebraska St	0.44mi	3/1.0 (+1)	1,342 (+9%)	2mo	$182,000	$136	53
502 Kansas St	0.35mi	3/1.0 (+1)	1,370 (+11%)	4mo	$174,800	$128	52
725 Hartman Dr	0.67mi	3/1.0 (+1)	1,310 (+6%)	0mo	$93,000	$71	49
1004 Mcfarland St	0.73mi	2/2.5	1,393 (+13%)	2mo	$400,000	$287	40
715 W Hughbert St	0.72mi	3/1.5 (+1)	1,103 (-10%)	3mo	$172,500	$156	40

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 · 7.66% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.57×
• Total profit: $-20,954
• Equity at exit: $26,078

10-year hold

• IRR: 3.2%
• Equity multiple: 1.27×
• Total profit: $13,427
• Equity at exit: $15,122

Cash invested: $48,972 (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 73069

• Rents YoY: 7.7%
• Active inventory: 253
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,405 high
• Mortgage (P&I): −$917
• Tax from tax record: −$111 /mo · $1,337/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $8

Break-even live

Break-even rent $1,394

Max offer price $174,900

Occupancy floor 94%

Sensitivity live

Price	-10% $107	-5% $58	+0% $8	+5% $-41	+10% $-91
Rent	-10% $-103	-5% $-47	+0% $8	+5% $64	+10% $119
Rate	-1.0pp $96	-0.5pp $53	base $8	+0.5pp $-37	+1.0pp $-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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1005 W Eufaula St Norman, OK	2.0	2.0	1100	$1,350	$1.23	5d	1	0.25mi
222 S University Blvd Norman, OK	2.0	2.0	775	$2,875	$3.71	16d	1	0.32mi
418 N Flood Ave Norman, OK	3.0	1.0	1200	$1,600	$1.33	5d	1	0.33mi
471 Elm Ave Norman, OK	2.0	2.0	976	$1,500	$1.54	25d	1	0.44mi
311 S Webster Ave Norman, OK	1.0	1.0	800	$950	$1.19	13d	1	0.45mi
1205 Westlawn Dr Norman, OK	3.0	1.5	1440	$1,600	$1.11	25d	1	0.45mi
1202 Glenwood St Norman, OK	3.0	1.5	1221	$1,600	$1.31	16d	1	0.47mi
911 Nebraska St Norman, OK	2.0	1.0	750	$1,095	$1.46	16d	1	0.52mi
820 Iowa St Norman, OK	2.0	1.0	752	$1,350	$1.80	25d	1	0.52mi
751 Iowa St Norman, OK	3.0	1.0	1148	$1,600	$1.39	5d	1	0.53mi
712 Dakota St Norman, OK	3.0	1.0	1353	$1,395	$1.03	5d	1	0.56mi
1505 Huntington Way Norman, OK	3.0	1.0	1035	$1,300	$1.26	16d	1	0.63mi
127 W Acres St Apt E Norman, OK	1.0	1.0	710	$850	$1.20	5d	1	0.67mi
1510 Huntington Way Norman, OK	3.0	1.0	1176	$1,550	$1.32	22d	1	0.68mi
101 Maple Ln Norman, OK	3.0	1.0	1164	$1,700	$1.46	25d	1	0.68mi
1238 Iowa St Norman, OK	2.0	1.0	720	$1,150	$1.60	25d	1	0.72mi
1205 W Brooks St Norman, OK	3.0	1.0	1153	$1,700	$1.47	13d	1	0.74mi
1506 Dakota St Norman, OK	3.0	1.0	832	$1,050	$1.26	5d	1	0.84mi
1530 Melrose Dr Norman, OK	3.0	1.0	1266	$1,400	$1.11	25d	1	0.84mi
222 McCullough Norman, OK	3.0	2.0	1175	$3,300	$2.81	25d	1	0.88mi
212 S Mercedes Dr Norman, OK	3.0	1.5	1066	$1,400	$1.31	25d	1	0.88mi
306 S Mercedes Dr Norman, OK	3.0	1.5	1048	$1,600	$1.53	25d	1	0.89mi
1712 W Boyd St Norman, OK	3.0	1.0	936	$2,600	$2.78	16d	1	0.89mi
1524 Rowena Ln Norman, OK	3.0	1.0	1025	$1,699	$1.66	25d	1	0.89mi
1208 Avondale Dr Norman, OK	3.0	1.0	1388	$1,600	$1.15	16d	1	0.91mi
1641 Marian Dr Norman, OK	3.0	1.0	1190	$1,500	$1.26	16d	1	0.93mi
930 Miller Ave Norman, OK	2.0	2.0	1050	$1,545	$1.47	5d	1	0.93mi
241 Emelyn St Norman, OK	3.0	2.0	910	$1,500	$1.65	5d	1	0.93mi
1607 Denison Dr Norman, OK	3.0	1.5	1357	$1,595	$1.18	25d	1	0.95mi
1713 Iowa St Norman, OK	3.0	1.5	1030	$1,400	$1.36	13d	1	0.97mi
214 Thompson Dr Norman, OK	3.0	1.5	922	$1,600	$1.74	25d	1	0.99mi
208 Thompson Dr Norman, OK	2.0	1.5	982	$1,400	$1.43	25d	1	0.99mi
202 Thompson Dr Norman, OK	3.0	1.5	942	$1,600	$1.70	25d	1	1.00mi
414 Ferrill St #416 Norman, OK	2.0	1.0	800	$875	$1.09	5d	1	1.00mi
523 E Main St #1 Norman, OK	2.0	2.0	1144	$1,400	$1.22	12d	1	1.03mi
1411 Rebecca Ln Norman, OK	1.0–2.0	1.0	850	$1,015	$1.19	23d	3	1.10mi
1411 Rebecca Ln Norman, OK	1.0–2.0	1.0	850	$1,015	$1.19	16d	3	1.10mi
1104 W Robinson St Norman, OK	3.0	1.0	995	$1,250	$1.26	13d	1	1.11mi
301 Hal Muldrow Dr Norman, OK	1.0–2.0	1.0–2.0	857	$1,100	$1.28	3d	6	1.11mi
1304 Wylie Rd Norman, OK	1.0	1.0	700	$799	$1.14	25d	1	1.14mi

Listing history 13 events

1. 2026-06-21
   days on market $174,900 Active 3 DOM
2. 2026-06-18
   pricedays on marketlisting id $174,900 Active 1 DOM
3. 2026-06-17
   days on market $539,900 Active 16 DOM
4. 2026-06-16
   days on market $539,900 Active 15 DOM
5. 2026-06-15
   days on market $539,900 Active 14 DOM
6. 2026-06-13
   days on market $539,900 Active 12 DOM
7. 2026-06-09
   days on market $539,900 Active 8 DOM
8. 2026-06-08
   days on market $539,900 Active 7 DOM
9. 2026-06-07
   days on market $539,900 Active 6 DOM
10. 2026-06-05
    days on market $539,900 Active 3 DOM
11. 2026-06-03
    days on market $539,900 Active 2 DOM
12. 2026-06-02
    remarks 475-char remark
13. 2026-06-02
    listed $539,900 Active 1 DOM

ⓘ 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: $1,337 · $111/mo
• Projected year-2 tax: $1,574 · $131/mo
• Expected delta: +$237/yr (+$20/mo · 17.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $16,859
• − Mortgage interest: −$9,797
• − Property taxes: −$1,337
• − Insurance: −$874
• − Repairs & maintenance: −$1,349
• − Management: −$1,349
• − Depreciation: −$5,088
• Taxable loss: −$2,935
• Est. tax savings @ 24.0%: +$704
• After-tax cash flow: $805/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): 28,462
• Household income: $58,888
• Rent vs Own: 54.3% rent · 45.7% own
• Severe rent burden: 1704.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 64% Two or more races 15% Hispanic / Latino 14% Native American 4% Black 4% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 3% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 84% English-only · Spanish 10% 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: ▼ -252.79%
• Current HPI: 272.4754
• Rent YoY: ▲ 7.66%
• 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

+1730.2% since first listed

7 events — show timeline

• 2026-06-01 Listed $539,900 MLSOK
• 2010-12-20 Sold (Public Records) $80,000 Public Records
• 2010-12-20 Sold (MLS) $80,000 MLSOK
• 2010-09-17 Listed $80,000 MLSOK
• 2004-10-11 Sold (Public Records) $66,000 Public Records
• 1999-08-26 Sold (Public Records) $45,000 Public Records
• 1997-09-01 Sold (Public Records) $29,500 Public Records

Property tax history

+0.7%/yr

Latest (2024): $1,337 · +4.8% YoY. Source: county tax records.