420 W Johnson St · Norman, OK 73069

$213,000

3 bd · 2.0 ba · 1,505 sqft · SingleFamily public records · 188 Days on market

Built 1950 6,534 sqft lot Est $217k · at est.

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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 +13.8/30.0
• ARV discount +8.3/15.0
• Rent growth +4.4/5.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 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

Nice home just waiting for somebody to make it special. Building in back has gas, electric and plumbing.

Key facts

• New metal roof
• Fresh paint
• Remodeled kitchen

Tags

• NEW METAL ROOF
• NEW LOW-E WINDOWS
• NEW HVAC SYSTEM
• REMODELED KITCHEN
• REMODELED BATHROOMS
• FRESH PAINT

Property features AI

Finance

• Other: Existing property; Homestead not claimed
• Financial info: Listing offered As Is; Financing: Conventional, FHA or VA accepted; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking; 1-car garage
• Utilities: Public utilities
• Home design: Single family residence; One level; Residential property
• Construction: Frame, stone and stucco construction; Metal roof (2025); Double pane low-E windows; Conventional foundation
• Exterior features: Covered porch; Open deck; Outbuildings; Wood fencing; Interior lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; Electric range (free standing); Electric oven (free standing)
• Bedrooms: 3 bedrooms
• Flooring: Combination flooring; Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Ceiling fans; In-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $213k.

Deal economics

• At list price, monthly cash flow is $18 ($212/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 $171k (19.7% below list).
• Recommended offer: $171k (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: Adams Es (math 16% / reading 20%, grade F, #534 of 845 statewide, top 64%, 550 students, 0% FRL); Whittier Ms (math 25% / reading 32%, grade F, #57 of 345 statewide, top 18%, 1,016 students, 0% FRL); Norman North Hs (math 45% / reading 57%, grade D+, #2 of 447 statewide, top 0%, 2,401 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; 30 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).
• This rent runs 35% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 188 days — a 12% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $213k implies a 255% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $171,019 (19.7% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $216,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 W Mosier St	0.11mi	3/2.0	1,350 (-10%)	4mo	$214,999	$159	74
609 Utah St	0.31mi	3/1.5	1,383 (-8%)	6mo	$189,000	$137	65
725 Hartman Dr	0.27mi	3/1.0	1,310 (-13%)	0mo	$93,000	$71	62
607 Nebraska St	0.43mi	3/1.0	1,342 (-11%)	2mo	$182,000	$136	56
320 N Peters Ave	0.61mi	3/2.0	1,409 (-6%)	6mo	$345,000	$245	56
1603 Denison Dr	0.74mi	4/2.0 (+1)	1,486 (-1%)	3mo	$214,000	$144	56
1534 Ashley Cir	0.73mi	3/2.0	1,573 (+4%)	6mo	$235,000	$149	54
502 Kansas St	0.52mi	3/1.0	1,370 (-9%)	4mo	$174,800	$128	53
219 E Dale St	0.61mi	3/2.0	1,692 (+12%)	1mo	$175,000	$103	50
1706 N Peters Ave	0.71mi	3/2.0	1,689 (+12%)	4mo	$195,000	$115	44
1203 Barbour St	0.75mi	3/2.0	1,309 (-13%)	0mo	$215,000	$164	43
306 E Hughbert St	0.61mi	4/3.0 (+1)	1,719 (+14%)	5mo	$355,000	$207	35

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: -11.1%
• Equity multiple: 0.58×
• Total profit: $-25,056
• Equity at exit: $31,759

10-year hold

• IRR: 3.4%
• Equity multiple: 1.29×
• Total profit: $17,324
• Equity at exit: $18,416

Cash invested: $59,640 (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: $1,710 high
• Mortgage (P&I): −$1,117
• Tax from tax record: −$128 /mo · $1,532/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $18

Break-even live

Break-even rent $1,688

Max offer price $213,000

Occupancy floor 94%

Sensitivity live

Price	-10% $138	-5% $78	+0% $18	+5% $-43	+10% $-103
Rent	-10% $-117	-5% $-50	+0% $18	+5% $85	+10% $153
Rate	-1.0pp $125	-0.5pp $72	base $18	+0.5pp $-38	+1.0pp $-94

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: $53,250
• Closing costs: $6,390
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 W Mosier St Norman, OK	4.0	2.0	1762	$2,150	$1.22	25d	1	0.34mi
712 Dakota St Norman, OK	3.0	1.0	1353	$1,395	$1.03	5d	1	0.35mi
751 Iowa St Norman, OK	3.0	1.0	1148	$1,600	$1.39	5d	1	0.39mi
418 N Flood Ave Norman, OK	3.0	1.0	1200	$1,600	$1.33	5d	1	0.50mi
809 Woods Ave Norman, OK	3.0	2.0	1556	$1,550	$1.00	25d	1	0.53mi
227 W Ridge Rd Norman, OK	3.0	2.0	1172	$1,420	$1.21	16d	1	0.53mi
101 E Haddock St Norman, OK	3.0	1.0	1146	$1,425	$1.24	16d	1	0.56mi
1008 Woods Ave Norman, OK	3.0	1.5	1690	$1,500	$0.89	13d	1	0.63mi
1202 Glenwood St Norman, OK	3.0	1.5	1221	$1,600	$1.31	16d	1	0.66mi
800 Lexington St Norman, OK	3.0	2.0	1056	$1,259	$1.19	3d	1	0.68mi
1607 Denison Dr Norman, OK	3.0	1.5	1357	$1,595	$1.18	25d	1	0.77mi
421 Foreman Ave Norman, OK	4.0	2.0	2070	$2,600	$1.26	13d	1	0.78mi
523 E Main St #1 Norman, OK	2.0	2.0	1144	$1,400	$1.22	12d	1	0.92mi
1005 W Eufaula St Norman, OK	2.0	2.0	1100	$1,350	$1.23	5d	1	0.94mi
211 Skylark Ct #213 Norman, OK	2.0	1.5	1050	$1,050	$1.00	22d	1	0.98mi
101 Maple Ln Norman, OK	3.0	1.0	1164	$1,700	$1.46	25d	1	1.00mi
1205 Westlawn Dr Norman, OK	3.0	1.5	1440	$1,600	$1.11	25d	1	1.15mi
1505 Shrill Ct Norman, OK	3.0	2.0	1818	$2,195	$1.21	25d	1	1.16mi
1222 Camden Way Norman, OK	4.0	2.0	2030	$2,600	$1.28	16d	1	1.17mi
1215 Westlawn Dr Norman, OK	3.0	2.0	1795	$2,195	$1.22	16d	1	1.17mi
1510 Huntington Way Norman, OK	3.0	1.0	1176	$1,550	$1.32	22d	1	1.20mi
321 E Duffy St Unit A Norman, OK	2.0	1.0	1650	$1,450	$0.88	5d	1	1.25mi
212 S Mercedes Dr Norman, OK	3.0	1.5	1066	$1,400	$1.31	25d	1	1.26mi
1530 Melrose Dr Norman, OK	3.0	1.0	1266	$1,400	$1.11	25d	1	1.31mi
805 Grickle Dr Norman, OK	3.0	2.0	1405	$1,550	$1.10	5d	1	1.32mi
1005 Classen Blvd Norman, OK	4.0	2.0	2018	$2,700	$1.34	5d	1	1.37mi
930 Miller Ave Norman, OK	2.0	2.0	1050	$1,545	$1.47	5d	1	1.37mi
1219 Leslie Ln Norman, OK	4.0	2.5	1875	$2,495	$1.33	16d	1	1.38mi
222 McCullough Norman, OK	3.0	2.0	1175	$3,300	$2.81	25d	1	1.40mi
1214 Cruce St Norman, OK	4.0	2.0	1882	$3,200	$1.70	13d	1	1.47mi

Listing history 27 events

1. 2026-06-18
   days on market $213,000 Active 188 DOM
2. 2026-06-17
   days on market $213,000 Active 187 DOM
3. 2026-06-16
   days on market $213,000 Active 186 DOM
4. 2026-06-15
   days on market $213,000 Active 185 DOM
5. 2026-06-13
   days on market $213,000 Active 183 DOM
6. 2026-06-09
   days on market $213,000 Active 179 DOM
7. 2026-06-08
   days on market $213,000 Active 178 DOM
8. 2026-06-07
   days on market $213,000 Active 177 DOM
9. 2026-06-05
   days on market $213,000 Active 174 DOM
10. 2026-06-03
    days on market $213,000 Active 173 DOM
11. 2026-06-02
    days on market $213,000 Active 172 DOM
12. 2026-06-01
    days on market $213,000 Active 171 DOM
13. 2026-05-31
    days on market $213,000 Active 170 DOM
14. 2026-05-04
    status Active
15. 2026-04-26
    status Active
16. 2026-03-05
    price $214,975
17. 2026-01-12
    price $219,900
18. 2025-11-25
    listed $225,000 Active
19. 2014-07-01
    soldstatus $60,000 104-char remark

    Show marketing remark (104 chars)

    Nice home just waiting for somebody to make it special. Building in back has gas, electric and plumbing.

20. 2014-01-08
    listed $69,900 104-char remark

    Show marketing remark (104 chars)

    Nice home just waiting for somebody to make it special. Building in back has gas, electric and plumbing.

21. 2007-12-19
    historical
22. 2007-07-21
    historical
23. 2006-10-19
    listed $96,400
24. 2002-09-23
    historical
25. 2001-11-08
    listed $99,000
26. 2000-08-16
    listed $83,000
27. 1993-09-15
    soldstatus $34,500

ⓘ 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: $1,532 · $128/mo
• Projected year-2 tax: $1,917 · $160/mo
• Expected delta: +$385/yr (+$32/mo · 25.1%)

ⓘ 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: $20,522
• − Mortgage interest: −$11,931
• − Property taxes: −$1,532
• − Insurance: −$1,065
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − Depreciation: −$6,196
• Taxable loss: −$3,486
• Est. tax savings @ 24.0%: +$837
• After-tax cash flow: $1,048/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

+523.1% since first listed

14 events — show timeline

• 2026-05-04 Relisted — MLSOK
• 2026-04-26 Relisted — MLSOK
• 2026-03-05 Price Changed $214,975 MLSOK
• 2026-01-12 Price Changed $219,900 MLSOK
• 2025-11-25 Listed $225,000 MLSOK
• 2014-07-01 Sold (MLS) $60,000 MLSOK
• 2014-01-08 Listed $69,900 MLSOK
• 2007-12-19 Listing Removed — MLSOK
• 2007-07-21 Listing Removed — MLSOK
• 2006-10-19 Listed $96,400 MLSOK
• 2002-09-23 Listing Removed — MLSOK
• 2001-11-08 Listed $99,000 MLSOK
• 2000-08-16 Listed $83,000 MLSOK
• 1993-09-15 Sold (Public Records) $34,500 Public Records

Property tax history

+4.7%/yr

Latest (2024): $1,532 · +4.7% YoY. Source: county tax records.