2533 W Hefner Rd · Oklahoma City, OK 73120

$145,000

2 bd · 2.0 ba · 1,173 sqft · Condo public records · 92 Days on market

Built 1978 $124/sqft · 26% below area Est $195k · 26% under $150/mo HOA · 10% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +4.9/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

As-Is Half Duplex Near Lake Hefner – Priced Below Market! Located just minutes from Lake Hefner and convenient shopping in The Village, this 2-bedroom, 2-bath half duplex offers a great opportunity for buyers looking to add their personal touch. The home features tile flooring and carpet throughout, a spacious primary bedroom, and a second well-sized bedroom. Enjoy a comfortable living room along with a functional kitchen and dining area, perfect for everyday living. Priced below market value to allow room for updates — a fantastic investment or owner-occupant opportunity! Tenant is on month to month and they like to stay. Both units 2533 and 2533 West Hefner can be purchaed together.

Key facts

• Functional kitchen
• Dining area
• Tile flooring

Tags

• LAKE HEFNER
• TILE FLOORING
• FUNCTIONAL KITCHEN
• DINING AREA

🏷️ Possibly a rental listed for sale. The $145,000 price doesn't fit this home's estimated sale value (~$194,886) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $145k.

Deal economics

• At list price, monthly cash flow is $45 ($545/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 $144k (0.9% below list).
• Recommended offer: $132k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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 (+2.0%/yr); 333 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1k of loan paydown is wiped out by about $4k 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 92 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $145k implies a 113% gain — meaningful room to come down on a strong offer.

Recommended offer $131,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.99% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 8.4

CMA / ARV

• ARV (median comp): $194,886
• List price: $145,000
• Delta: -25.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.05% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-21,887
• Equity at exit: $21,620

10-year hold

• IRR: -8.5%
• Equity multiple: 0.50×
• Total profit: $-20,502
• Equity at exit: $12,537

Cash invested: $40,600 (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 73120

• Rents YoY: 2.0%
• Active inventory: 333
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,437 high
• Mortgage (P&I): −$760
• Tax from tax record: −$119 /mo · $1,424/yr
• Insurance: −$60
• HOA: −$150
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $45

Break-even live

Break-even rent $1,379

Max offer price $145,000

Occupancy floor 92%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10904 N Linn Ave Oklahoma City, OK	3.0	2.0	1452	$1,650	$1.14	44d	1	0.06mi
11007 Greystone Ave Oklahoma City, OK	2.0	2.0	1269	$1,500	$1.18	4d	1	0.15mi
2737 Plymouth Ln Oklahoma City, OK	3.0	1.5	1372	$1,395	$1.02	44d	1	0.28mi
11004 N May Ave Oklahoma City, OK	1.0–2.0	1.0–2.5	1129	$1,170	$1.04	12d	1	0.41mi
10412 Major Ave Oklahoma City, OK	3.0	2.0	1286	$1,750	$1.36	44d	1	0.47mi
11239 N Pennsylvania Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	850	$1,155	$1.36	4d	30	0.60mi
11417 N May Ave Unit D Oklahoma City, OK	3.0	2.0	1275	$1,345	$1.05	3d	1	0.61mi
9913 Sunnymeade Pl Oklahoma City, OK	3.0	1.5	1284	$1,695	$1.32	24d	1	0.62mi
9909 Sunnymeade Pl Oklahoma City, OK	3.0	2.0	1325	$1,695	$1.28	2d	1	0.63mi
2632 Kings Way Oklahoma City, OK	3.0	1.5	1496	$1,600	$1.07	44d	1	0.64mi
2300 Carlton Way Oklahoma City, OK	1.0	1.0	700	$899	$1.28	16d	1	0.81mi
2000 Lanesboro Dr Oklahoma City, OK	3.0	2.0	1236	$1,550	$1.25	44d	1	0.89mi
2126 NW 118th St Oklahoma City, OK	2.0	2.5	1360	$1,445	$1.06	24d	1	0.94mi
9519 Stratford Dr Oklahoma City, OK	3.0	1.0	1141	$1,450	$1.27	2d	1	0.98mi
10104 Haverhill Pl Oklahoma City, OK	3.0	2.0	1188	$1,550	$1.30	14d	1	1.00mi
11141 Springhollow Rd Oklahoma City, OK	3.0	2.0	1330	$1,499	$1.13	24d	1	1.01mi
11141 Springhollow Rd Unit 251 Oklahoma City, OK	3.0	2.0	1330	$1,499	$1.13	21d	1	1.01mi
11141 Springhollow Rd Unit 208 Oklahoma City, OK	2.0	2.0	1088	$1,125	$1.03	44d	1	1.01mi
1720 Castle St Oklahoma City, OK	3.0	2.0	1428	$1,800	$1.26	44d	1	1.03mi
2801 Croydon Ct Oklahoma City, OK	2.0	1.0	1102	$1,550	$1.41	2d	1	1.09mi
1800 NW 115th St Oklahoma City, OK	1.0–3.0	1.0–2.0	1019	$1,705	$1.67	2d	8	1.09mi
2204 Downing St Oklahoma City, OK	2.0	1.0	750	$1,295	$1.73	20d	1	1.09mi
12305 Cedar Springs Ln Oklahoma City, OK	2.0	2.5	1472	$1,250	$0.85	44d	1	1.14mi
1913 Downing St Oklahoma City, OK	2.0	1.0	940	$1,245	$1.32	2d	1	1.14mi
1913 Downing St Oklahoma City, OK	2.0	1.0	940	$1,245	$1.32	2d	1	1.14mi
2700 Indian Creek Blvd Oklahoma City, OK	1.0–3.0	1.0–2.0	1261	$1,164	$0.92	2d	5	1.14mi
2216 Hasley Dr Oklahoma City, OK	2.0	1.0	750	$1,400	$1.87	20d	1	1.14mi
2216 Hasley Dr Oklahoma City, OK	2.0	1.0	750	$1,400	$1.87	44d	1	1.14mi
2401 NW 122nd St Oklahoma City, OK	1.0–2.0	1.0–2.0	844	$899	$1.06	24d	1	1.18mi
10517 N McKinley Ave Oklahoma City, OK	3.0	1.5	1219	$1,695	$1.39	4d	1	1.19mi
3200 W Britton Rd Oklahoma City, OK	1.0–2.0	1.0–2.0	905	$1,495	$1.65	4d	1	1.20mi
2104 Churchill Way Oklahoma City, OK	3.0	1.0	866	$1,365	$1.58	2d	1	1.22mi
11409 Springhollow Rd #505 Oklahoma City, OK	1.0	1.0	801	$1,250	$1.56	44d	1	1.22mi
2301 NW 122nd St Oklahoma City, OK	1.0	1.0	723	$940	$1.30	2d	28	1.22mi
2113 Churchill Pl Oklahoma City, OK	3.0	1.0	1025	$1,250	$1.22	44d	1	1.23mi
9721 Georgia Ave Oklahoma City, OK	3.0	2.0	1442	$1,685	$1.17	4d	1	1.24mi
2024 Churchill Way Oklahoma City, OK	3.0	1.0	1278	$1,500	$1.17	4d	1	1.24mi
10905 N Brauer Ave Oklahoma City, OK	3.0	1.5	1424	$1,505	$1.06	44d	1	1.25mi
9009 N May Ave Oklahoma City, OK	2.0	2.5	1456	$1,899	$1.30	2d	1	1.26mi
1413 NW 106th St Oklahoma City, OK	3.0	2.0	1345	$1,495	$1.11	44d	1	1.26mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-02-23
   listed $145,000 Active 705-char remark

   Show marketing remark (705 chars)

   As-Is Half Duplex Near Lake Hefner – Priced Below Market! Located just minutes from Lake Hefner and convenient shopping in The Village, this 2-bedroom, 2-bath half duplex offers a great opportunity for buyers looking to add their personal touch. The home features tile flooring and carpet throughout, a spacious primary bedroom, and a second well-sized bedroom. Enjoy a comfortable living room along with a functional kitchen and dining area, perfect for everyday living. Priced below market value to allow room for updates — a fantastic investment or owner-occupant opportunity! Tenant is on month to month and they like to stay. Both units 2533 and 2533 West Hefner can be purchaed together.

2. 1983-08-01
   soldstatus $68,000

ⓘ 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: $1,424 · $119/mo
• Projected year-2 tax: $1,424 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,239
• − Mortgage interest: −$8,122
• − Property taxes: −$1,424
• − Insurance: −$725
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − HOA: −$1,800
• − Depreciation: −$4,218
• Taxable loss: −$1,808
• Est. tax savings @ 24.0%: +$434
• After-tax cash flow: $979/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): 35,559
• Household income: $64,745
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 2029.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 21% Two or more races 11% Hispanic / Latino 7% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 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: ▼ -279.69%
• Current HPI: 227.2832
• Rent YoY: ▲ 2.05%
• 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

+113.2% since first listed

2 events — show timeline

• 2026-02-23 Listed $145,000 MLSOK
• 1983-08-01 Sold (Public Records) $68,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,424 · +4.2% YoY. Source: county tax records.