4400 N Hemingway Dr #134 · Oklahoma City, OK 73118

$105,000

2 bd · 2.0 ba · 1,006 sqft · Condo public records · 52 Days on market

Built 1982 $104/sqft · 18% below area Est $128k · 18% under $300/mo HOA · 24% 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).

• ARV discount +15.0/15.0
• Cash flow +12.3/30.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this fabulous Hemingway condo, designed for easy, low-maintenance living. Tucked away in a private location near the back of this gated community, this first-floor unit offers both comfort and convenience. The open-concept living and dining area flows seamlessly into the kitchen, complete with a conveniently located laundry room. The primary bedroom features an en suite bathroom and a spacious walk-in closet. Enjoy the outdoors on your fenced, covered patio, and take advantage of the added bonus of covered parking—truly the icing on the cake! Residents also enjoy access to a community pool, perfect for relaxing or cooling off during the warmer months.

Key facts

• Gated community
• En suite bathroom
• Laundry room

Tags

• PRIVATE LOCATION
• GATED COMMUNITY
• OPEN-CONCEPT LIVING
• LAUNDRY ROOM
• EN SUITE BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $-20 ($-237/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (3.3% below list).
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.3% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 3.7% in Oklahoma City — 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 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 184 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 24% 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 $101,514 (3.3% 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 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 6.9

CMA / ARV

• ARV (median comp): $128,102
• List price: $105,000
• Delta: -18.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.45% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.45×
• Total profit: $-16,206
• Equity at exit: $15,656

10-year hold

• IRR: -3.3%
• Equity multiple: 0.76×
• Total profit: $-7,032
• Equity at exit: $9,078

Cash invested: $29,400 (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 73118

• Rents YoY: 4.5%
• Active inventory: 184
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,262 high
• Mortgage (P&I): −$551
• Tax from tax record: −$122 /mo · $1,468/yr
• Insurance: −$44
• HOA: −$300
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-20

Break-even live

Break-even rent $1,287

Max offer price $101,514

Occupancy floor 97%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1606 NW 45th St Oklahoma City, OK	3.0	2.0	1325	$1,700	$1.28	43d	1	0.24mi
2025 NW 46th St Oklahoma City, OK	3.0	1.5	1080	$1,495	$1.38	21d	1	0.25mi
1701 NW 46th St Oklahoma City, OK	2.0	1.0	980	$813	$0.83	43d	1	0.25mi
2029 NW 46th St Oklahoma City, OK	3.0	2.0	1109	$1,550	$1.40	2d	1	0.26mi
2037 NW 46th St Oklahoma City, OK	3.0	2.0	1336	$1,535	$1.15	2d	1	0.28mi
4301 N Pennsylvania Ave Unit 116 Oklahoma City, OK	2.0	2.0	950	$1,095	$1.15	43d	1	0.29mi
4301 N Pennsylvania Ave Unit M 200 Oklahoma City, OK	2.0	1.5	1100	$1,195	$1.09	23d	1	0.29mi
4301 N Pennsylvania Ave Unit 230 Oklahoma City, OK	2.0	1.0	900	$1,045	$1.16	43d	1	0.29mi
4301 N Pennsylvania Ave Oklahoma City, OK	1.0	1.0	850	$845	$0.99	43d	1	0.29mi
1809 NW 39th St Oklahoma City, OK	3.0	2.0	1318	$1,625	$1.23	2d	1	0.30mi
4517 N Pennsylvania Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	842	$929	$1.10	17d	1	0.31mi
1526 NW 45th St Unit 1 Oklahoma City, OK	1.0	1.0	790	$1,145	$1.45	4d	1	0.31mi
1524 NW 45th St Unit 1 Oklahoma City, OK	1.0	1.0	790	$1,145	$1.45	4d	1	0.31mi
4861 N Blackwelder Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	975	$985	$1.01	4d	6	0.36mi
3915 N Pennsylvania Ave Oklahoma City, OK	2.0	2.0	1065	$1,495	$1.40	43d	1	0.47mi
4211 N Youngs Blvd Unit 112 Oklahoma City, OK	2.0	1.5	952	$900	$0.95	23d	1	0.51mi
4211 N Youngs Blvd Unit 216 Oklahoma City, OK	2.0	2.0	1100	$950	$0.86	23d	1	0.51mi
4211 N Youngs Blvd Unit 217 Oklahoma City, OK	2.0	2.0	1100	$1,050	$0.95	2d	1	0.51mi
1235 NW 45th St Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	43d	1	0.55mi
5200 N Oak St Oklahoma City, OK	3.0	1.0–2.5	1080	$3,155	$2.92	1d	64	0.61mi
3920 N Classen Blvd Oklahoma City, OK	2.0	1.5	1284	$1,295	$1.01	21d	1	0.62mi
2225 NW 50th St Oklahoma City, OK	3.0	2.5	1330	$1,445	$1.09	23d	1	0.65mi
2140 NW 36th St Oklahoma City, OK	3.0	1.0	829	$1,400	$1.69	43d	1	0.69mi
1112 NW 44th St Oklahoma City, OK	3.0	1.0	948	$1,349	$1.42	43d	1	0.70mi
2416 NW 40th St Oklahoma City, OK	3.0	1.5	814	$1,300	$1.60	23d	1	0.71mi
1131 NW 47th St Oklahoma City, OK	1.0	1.0	795	$1,400	$1.76	23d	1	0.71mi
1129 NW 47th St Oklahoma City, OK	1.0	1.0	795	$1,400	$1.76	23d	1	0.72mi
2449 NW 42nd St Oklahoma City, OK	3.0	1.0	1070	$1,200	$1.12	43d	1	0.77mi
2507 NW 44th St Oklahoma City, OK	2.0	2.0	1379	$1,550	$1.12	2d	1	0.79mi
2424 NW 39th St Oklahoma City, OK	2.0	1.0–1.5	787	$850	$1.08	3d	4	0.79mi
2042 NW 34th St Oklahoma City, OK	2.0	1.0	968	$1,050	$1.08	11d	1	0.80mi
3711 N Military Ave Oklahoma City, OK	2.0	1.0	1078	$1,295	$1.20	2d	1	0.80mi
1015 NW 40th St Oklahoma City, OK	2.0	1.0	1250	$1,225	$0.98	43d	1	0.81mi
3633 N Youngs Blvd Oklahoma City, OK	3.0	2.5	1404	$1,450	$1.03	4d	1	0.82mi
2442 NW 39th St Oklahoma City, OK	2.0	1.0	775	$850	$1.10	20d	1	0.83mi
1120 NW 51st St Unit 4 Oklahoma City, OK	2.0	1.0	1300	$1,395	$1.07	43d	1	0.85mi
2022 NW 33rd St Oklahoma City, OK	3.0	1.0	936	$1,150	$1.23	16d	1	0.85mi
2477 NW 40th St Oklahoma City, OK	2.0	1.0	1011	$1,150	$1.14	43d	1	0.85mi
1731 NW 32nd St Unit 15 Oklahoma City, OK	3.0	2.0	1200	$1,175	$0.98	21d	1	0.88mi
1731 NW 32nd St Unit 11 Oklahoma City, OK	2.0	1.0	1000	$850	$0.85	23d	1	0.88mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-05-11
   status Pending 676-char remark

   Show marketing remark (676 chars)

   Welcome to this fabulous Hemingway condo, designed for easy, low-maintenance living. Tucked away in a private location near the back of this gated community, this first-floor unit offers both comfort and convenience. The open-concept living and dining area flows seamlessly into the kitchen, complete with a conveniently located laundry room. The primary bedroom features an en suite bathroom and a spacious walk-in closet. Enjoy the outdoors on your fenced, covered patio, and take advantage of the added bonus of covered parking—truly the icing on the cake! Residents also enjoy access to a community pool, perfect for relaxing or cooling off during the warmer months.

2. 2026-04-18
   price $105,000 676-char remark

   Show marketing remark (676 chars)

   Welcome to this fabulous Hemingway condo, designed for easy, low-maintenance living. Tucked away in a private location near the back of this gated community, this first-floor unit offers both comfort and convenience. The open-concept living and dining area flows seamlessly into the kitchen, complete with a conveniently located laundry room. The primary bedroom features an en suite bathroom and a spacious walk-in closet. Enjoy the outdoors on your fenced, covered patio, and take advantage of the added bonus of covered parking—truly the icing on the cake! Residents also enjoy access to a community pool, perfect for relaxing or cooling off during the warmer months.

3. 2026-03-30
   price $110,000 676-char remark

   Show marketing remark (676 chars)

   Welcome to this fabulous Hemingway condo, designed for easy, low-maintenance living. Tucked away in a private location near the back of this gated community, this first-floor unit offers both comfort and convenience. The open-concept living and dining area flows seamlessly into the kitchen, complete with a conveniently located laundry room. The primary bedroom features an en suite bathroom and a spacious walk-in closet. Enjoy the outdoors on your fenced, covered patio, and take advantage of the added bonus of covered parking—truly the icing on the cake! Residents also enjoy access to a community pool, perfect for relaxing or cooling off during the warmer months.

4. 2026-03-20
   listed $115,000 Active 676-char remark

   Show marketing remark (676 chars)

   Welcome to this fabulous Hemingway condo, designed for easy, low-maintenance living. Tucked away in a private location near the back of this gated community, this first-floor unit offers both comfort and convenience. The open-concept living and dining area flows seamlessly into the kitchen, complete with a conveniently located laundry room. The primary bedroom features an en suite bathroom and a spacious walk-in closet. Enjoy the outdoors on your fenced, covered patio, and take advantage of the added bonus of covered parking—truly the icing on the cake! Residents also enjoy access to a community pool, perfect for relaxing or cooling off during the warmer months.

5. 2022-02-08
   soldstatus $96,800 Sold 391-char remark

   Show marketing remark (391 chars)

   Great 2 bed, 2 bath condo in a wonderful community. Newer flooring and remaining fridge, washer and dryer make a great start to your new home along with a good size pantry and 2" blinds. 1 carport space is included as well as all the HOA has to offer. Very well maintained grounds and pool are a plus! This community will no longer allow rental investor purchases. Owner/occupant only.

6. 2022-02-08
   soldstatus $97,000

   Show marketing remark (391 chars)

   Great 2 bed, 2 bath condo in a wonderful community. Newer flooring and remaining fridge, washer and dryer make a great start to your new home along with a good size pantry and 2" blinds. 1 carport space is included as well as all the HOA has to offer. Very well maintained grounds and pool are a plus! This community will no longer allow rental investor purchases. Owner/occupant only.

7. 2022-01-04
   status Pending 391-char remark

   Show marketing remark (391 chars)

   Great 2 bed, 2 bath condo in a wonderful community. Newer flooring and remaining fridge, washer and dryer make a great start to your new home along with a good size pantry and 2" blinds. 1 carport space is included as well as all the HOA has to offer. Very well maintained grounds and pool are a plus! This community will no longer allow rental investor purchases. Owner/occupant only.

8. 2021-12-26
   listed $95,500 Active 391-char remark

   Show marketing remark (391 chars)

   Great 2 bed, 2 bath condo in a wonderful community. Newer flooring and remaining fridge, washer and dryer make a great start to your new home along with a good size pantry and 2" blinds. 1 carport space is included as well as all the HOA has to offer. Very well maintained grounds and pool are a plus! This community will no longer allow rental investor purchases. Owner/occupant only.

9. 2011-07-26
   soldstatus $66,000
10. 2011-07-25
    soldstatus $66,000
11. 2011-03-28
    listed $71,900
12. 2006-07-06
    soldstatus $66,000
13. 2002-08-08
    soldstatus $58,000
14. 2002-07-19
    soldstatus $58,000
15. 2002-04-17
    historical
16. 2002-03-15
    listed $59,500
17. 1999-05-11
    soldstatus $50,000
18. 1995-03-03
    soldstatus $44,000

ⓘ 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: $1,468 · $122/mo
• Projected year-2 tax: $1,468 · $122/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,144
• − Mortgage interest: −$5,882
• − Property taxes: −$1,468
• − Insurance: −$525
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − HOA: −$3,600
• − Depreciation: −$3,055
• Taxable loss: −$1,808
• Est. tax savings @ 24.0%: +$434
• After-tax cash flow: $197/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: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• County: Oklahoma County · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 14,262
• Household income: $69,827
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 728.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 14% Two or more races 13% Black 5% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 5% Italian 4% Portuguese 3%
• Foreign-born: 9% · Canada, Vietnam, Philippines
• Languages at home: 87% English-only · Spanish 10% Vietnamese 1% Other Asian/Pacific 1%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -321.71%
• Current HPI: 298.6106
• Rent YoY: ▲ 4.45%
• 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

+138.6% since first listed

18 events — show timeline

• 2026-05-11 Pending — MLSOK
• 2026-04-18 Price Changed $105,000 MLSOK
• 2026-03-30 Price Changed $110,000 MLSOK
• 2026-03-20 Listed $115,000 MLSOK
• 2022-02-08 Sold (Public Records) $97,000 Public Records
• 2022-02-08 Sold (MLS) $96,800 MLSOK
• 2022-01-04 Pending — MLSOK
• 2021-12-26 Listed $95,500 MLSOK
• 2011-07-26 Sold (Public Records) $66,000 Public Records
• 2011-07-25 Sold (MLS) $66,000 MLSOK
• 2011-03-28 Listed $71,900 MLSOK
• 2006-07-06 Sold (Public Records) $66,000 Public Records
• 2002-08-08 Sold (Public Records) $58,000 Public Records
• 2002-07-19 Sold (MLS) $58,000 MLSOK
• 2002-04-17 Listing Removed — MLSOK
• 2002-03-15 Listed $59,500 MLSOK
• 1999-05-11 Sold (Public Records) $50,000 Public Records
• 1995-03-03 Sold (Public Records) $44,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,468 · +4.2% YoY. Source: county tax records.