32 NW 155th St · Oklahoma City, OK 73013

$215,000

3 bd · 2.0 ba · 1,149 sqft · MultiFamily public records · 82 Days on market

Built 2005 3,202 sqft lot

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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 +12.0/30.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Fully leased duplex in Southeast Edmond offering immediate, stable income with long-term tenants already in place. Each unit features 1,149 square feet with 2 bedrooms, 2 bathrooms, and a dedicated office that can easily function as a third bedroom, plus a 2-car garage. Both sides are currently leased at $1,375 per month through July 31, 2026, providing predictable cash flow. Located in Sheffield Gardens just off Santa Fe Avenue, this well-maintained property sits in a desirable Edmond location close to shopping, dining, and everyday conveniences while remaining tucked away in a quiet residential community. Tenants are responsible for all utilities and lawn maintenance, helping keep operati

Key facts

• Dedicated office
• Fully leased duplex
• 2 garage spots

Tags

• FULLY LEASED DUPLEX
• DEDICATED OFFICE
• QUIET RESIDENTIAL COMMUNITY
• DESIRABLE EDMOND LOCATION

Property features AI

Finance

• Other: Homestead exempt; Occupied (rented/leased)
• Financial info: Loan qualifying allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: No flood insurance required
• Home design: One-level half duplex; Residential property; Existing property
• Construction: Brick and frame construction; Heavy composition roof; Built on slab foundation
• Exterior features: Wood fencing; Infill lot; Interior lot

Interior

• Kitchen: Free-standing electric range/oven
• Bedrooms: 2 bedrooms
• Flooring: Combination of carpet and tile
• Bathrooms: 2 full bathrooms
• Interior features: Gas log fireplace; Covered porch; Open patio
• Laundry & utility: Slab foundation (utility access at slab)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $215k.

Deal economics

• At list price, monthly cash flow is $-49 ($-592/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (20.6% below list).
• Recommended offer: $171k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: 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: Charles Haskell Es (math 27% / reading 32%, grade F, #255 of 845 statewide, top 35%, 662 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.
• Market conditions: Rents rising (+3.1%/yr); 654 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent is only 18% of the median local income ($114k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• 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 82 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $170,625 (20.6% 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 82 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.14% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.37×
• Total profit: $-37,767
• Equity at exit: $32,057

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-36,056
• Equity at exit: $18,589

Cash invested: $60,200 (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 73013

• Rents YoY: 3.1%
• Active inventory: 654
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,706 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$180 /mo · $2,162/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-49

Break-even live

Break-even rent $1,769

Max offer price $206,291

Occupancy floor 98%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2108 Buena Vida Ln Edmond, OK	3.0	2.5	1357	$1,640	$1.21	23d	1	0.47mi
2149 Buena Vida Ln Edmond, OK	3.0	2.5	1300	$1,645	$1.27	2d	1	0.48mi
2172 Camino del Plaza Ln Edmond, OK	3.0	2.0	1274	$1,600	$1.26	23d	1	0.48mi
2172 Camino del Plaza Ln Edmond, OK	3.0	2.0	1287	$1,600	$1.24	4d	1	0.48mi
2125 Buena Vida Ln Edmond, OK	3.0	2.5	1458	$1,699	$1.17	2d	1	0.49mi
2116 Camino del Plaza Ln Edmond, OK	3.0	2.0	1396	$1,645	$1.18	23d	1	0.50mi
16420 Del Mar Dr Edmond, OK	3.0	2.0	1404	$1,741	$1.24	11d	1	0.60mi
1318 Pennington Ave Edmond, OK	2.0	2.0	1150	$1,300	$1.13	23d	1	0.75mi
2501 Kelley Pointe Pkwy Edmond, OK	1.0–2.0	1.0–2.0	909	$1,979	$2.18	1d	18	0.92mi
1404 S Gemini Rd Edmond, OK	3.0	2.0	1267	$1,650	$1.30	23d	1	0.97mi
1404 S Gemini Rd Edmond, OK	3.0	2.0	1267	$1,650	$1.30	21d	1	0.97mi
804 Stag Trl Edmond, OK	3.0	2.0	1250	$1,550	$1.24	23d	1	1.23mi
804 Stag Trl Edmond, OK	3.0	2.0	1250	$1,550	$1.24	4d	1	1.23mi
1504 Apollo Rd Edmond, OK	3.0	2.0	1435	$1,475	$1.03	11d	1	1.30mi
1013 Kelly Park Rd Edmond, OK	4.0	2.0	1450	$1,550	$1.07	2d	1	1.31mi
520 NW 137th St Unit 1 Edmond, OK	2.0	2.0	1140	$1,425	$1.25	4d	1	1.34mi
13813 Fairhill Ave Edmond, OK	2.0	2.0	1324	$1,395	$1.05	23d	1	1.42mi
1005 Valley Ct Edmond, OK	3.0	2.0	1455	$1,795	$1.23	23d	1	1.48mi

Listing history 3 events

1. 2026-05-31
   days on market $215,000 Active 82 DOM
2. 2026-03-10
   listed $215,000 Active
3. 2005-03-01
   soldstatus $200,000

ⓘ 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: $2,162 · $180/mo
• Projected year-2 tax: $2,162 · $180/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 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,475
• − Mortgage interest: −$12,043
• − Property taxes: −$2,162
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$6,255
• Taxable loss: −$4,336
• Est. tax savings @ 24.0%: +$1,041
• After-tax cash flow: $449/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: Edmond
• NCES district ID: 4010590
• Math proficiency: 38% ▼ -12.00%
• Reading proficiency: 40% ▼ -12.00%
• Median HH income: $73,212
• Composite: 35.88/100
• National rank: #4814
• State rank: #11 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: 177,083
• Metro: Oklahoma City, OK
• Population (ZIP): 58,023
• Household income: $113,870
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 1313.0

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% Two or more races 11% Black 9% Asian 7% Hispanic / Latino 5% Native American 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Vietnamese 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: ▼ -201.41%
• Current HPI: 214.2251
• Rent YoY: ▲ 3.14%
• 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

+7.5% since first listed

2 events — show timeline

• 2026-03-10 Listed $215,000 MLSOK
• 2005-03-01 Sold (Public Records) $200,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,162 · +5.3% YoY. Source: county tax records.