20901 S Florence St · Oklahoma City, OK 74857

$135,000

2 bd · 1.0 ba · 785 sqft · SingleFamily public records · 3 Days on market

Built 1980 0.40 ac lot

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Why this score? — see what drove the C+ 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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER HAS ACCEPTED AN OFFER WAITING ON FULLY EXECUTED BACK FROM THE BANK TAKES UP TO 2 WEEKS. Extra large corner lot with a shed. Covered patio is enclosed and could be a 2nd living room. Inside laundry room.

Key facts

• Outbuilding
• Carport
• Storm shelter

Tags

• FENCED BACKYARD
• OUTBUILDING
• CARPORT
• STORM SHELTER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 9.8% 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.
• Harrah (town): math 24% / reading 29% proficiency, ranked #82 of 270 in OK (top 30%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Clara Reynolds Es (math 27% / reading 27%, grade F, #311 of 845 statewide, top 40%, 313 students, 0% FRL); Harrah Hs (math 27% / reading 27%, grade F, #125 of 447 statewide, top 31%, 630 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 97 active listings in the ZIP; 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 $933 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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.
• Current owner paid $87k; list at $135k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.61%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $3,380
• Equity at exit: $20,129

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $35,348
• Equity at exit: $11,672

Cash invested: $37,800 (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 74857

• Home prices YoY: -10.6%
• Active inventory: 97
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $397

Break-even live

Break-even rent $1,047

Max offer price $135,000

Occupancy floor 69%

Sensitivity live

Price	-10% $474	-5% $435	+0% $397	+5% $359	+10% $321
Rent	-10% $275	-5% $336	+0% $397	+5% $458	+10% $520
Rate	-1.0pp $465	-0.5pp $432	base $397	+0.5pp $362	+1.0pp $327

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-28
   status Pending
2. 2026-04-24
   listed $135,000 Active
3. 2019-01-17
   soldstatus $87,000
4. 2014-04-08
   soldstatus $29,950 211-char remark

   Show marketing remark (211 chars)

   SELLER HAS ACCEPTED AN OFFER WAITING ON FULLY EXECUTED BACK FROM THE BANK TAKES UP TO 2 WEEKS. Extra large corner lot with a shed. Covered patio is enclosed and could be a 2nd living room. Inside laundry room.

5. 2014-02-05
   listed $34,900 211-char remark

   Show marketing remark (211 chars)

   SELLER HAS ACCEPTED AN OFFER WAITING ON FULLY EXECUTED BACK FROM THE BANK TAKES UP TO 2 WEEKS. Extra large corner lot with a shed. Covered patio is enclosed and could be a 2nd living room. Inside laundry room.

6. 2012-07-27
   historical
7. 2011-07-29
   listed $55,000
8. 2007-11-28
   soldstatus $45,900
9. 2007-08-03
   listed $45,900
10. 2004-05-11
    soldstatus $55,000

ⓘ 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: $758 · $63/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$457/yr (+$38/mo · 60.2%)

ⓘ 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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,601
• − Mortgage interest: −$7,562
• − Property taxes: −$758
• − Insurance: −$675
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$3,927
• Taxable income: $2,702
• Est. tax owed @ 24.0%: −$649
• After-tax cash flow: $4,118/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: Harrah
• NCES district ID: 4013890
• Math proficiency: 24% ▼ -9.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $52,737
• Composite: 23.55/100
• National rank: #7860
• State rank: #82 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
• City population: 498,656
• Population (ZIP): 9,902

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Native American 8% Hispanic / Latino 4% Black 2%
• Common ancestry: Slovak 2% Iranian 2% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -33.83%
• Current HPI: 284.6727
• Rent YoY: —
• Metro: —
• 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

+145.5% since first listed

10 events — show timeline

• 2026-04-28 Pending — MLSOK
• 2026-04-24 Listed $135,000 MLSOK
• 2019-01-17 Sold (Public Records) $87,000 Public Records
• 2014-04-08 Sold (MLS) $29,950 MLSOK
• 2014-02-05 Listed $34,900 MLSOK
• 2012-07-27 Listing Removed — MLSOK
• 2011-07-29 Listed $55,000 MLSOK
• 2007-11-28 Sold (MLS) $45,900 MLSOK
• 2007-08-03 Listed $45,900 MLSOK
• 2004-05-11 Sold (Public Records) $55,000 Public Records

Property tax history

+1.0%/yr

Latest (2025): $758 · +1.2% YoY. Source: county tax records.