14309 N Pennsylvania Ave Unit 9E

Oklahoma City, OK 73134

$127,000D

1 bd · 1.0 ba · 768 sqft · Built 1982 · Condo · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,128/mo
• Mortgage (P&I): −$666
• Tax + insurance: −$165
• HOA: −$230
• Vac / Maint / Mgmt: −$237
• Net cashflow: $-170/mo
• Annual: $-2,040/yr
• Cap rate: 4.69%
• Cash-on-cash: -5.74%
• DSCR: 0.74
• 1% rule: 0.89%
• Cash to close: $35,560

Investor read

• This is a 1-bed/1.0-bath condo listed at $127k.
• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (23.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (11.2% below list).
• It's been on market 86 days — a 6% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (23.7% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($878 loan paydown + $3k appreciation (2.7% local appreciation)).
• 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: crime F.
• Edmond (suburban): math 38% / reading 40% proficiency, ranked #11 of 270 in OK (top 4%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Scissortail Elementary School (331 students, 0% FRL); Summit Ms (math 22% / reading 27%, grade F, #97 of 345 statewide, top 31%, 940 students, 0% FRL); Santa Fe Hs (math 36% / reading 52%, grade F, #18 of 447 statewide, top 4%, 2,796 students, 0% FRL) — zoned schools average 0% FRL vs 22% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 20% of rent.
• Market conditions: Rents rising fast (+5.2%/yr); 42 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 17y ago 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.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• Cap rate 4.7% vs local median 3.7% in Oklahoma City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• 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?
• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?