8800 Grey Joy Rd · Edmond, OK 73007

$615,000

5 bd · 4.0 ba · 2,612 sqft · SingleFamily public records · 8 Days on market

Built 2023 10,873 sqft lot Est $515k · 20% over $83/mo HOA · 2% of rent

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Why this score? — see what drove the F 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).

• Appreciation +10.0/10.0
• Cash flow +6.9/30.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0
• DSCR +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

FENCING INCLUDED! This Hazel Bonus Room 5 Bedroom Half Bath includes 2,840 Sq Ft of total living space, which includes 2,600 Sq Ft of indoor living space and 240 Sq Ft of outdoor living space. There is also a 600 Sq Ft, three car garage with a storm shelter installed. This extraordinary two-story home offers 5 bedrooms, 3 full bathrooms, a powder room, 2 covered patios, a spacious bonus room, a mudroom, and a utility room. The living room presents a stacked stone corner gas fireplace, 3 seven ft windows, wood-look tile, elegant crown molding, Cat6 wiring, & an impeccable coffered ceiling. Kitchen supports stainless steel appliances, custom-built cabinets to the ceiling with cabinet hardware installed throughout AND glass and lights in uppers, 3 CM countertops, stunning pendant lighting, a large corner pantry, & an oversized island. The primary suite offers a sloped ceiling detail, a ceiling fan, windows, & our cozy carpet finish. Prime bath features a dual sink vanity, a Jetta Whirlpool tub surrounded by upgraded subway tile, a walk-in shower also surrounded by upgraded subway tile, & a HUGE walk-in closet. Covered outdoor living boasts a wood-burning fireplace, a gas line for your grill, & a TV hookup for your flatscreen. Home features fencing provided by builder! Home also offers our healthy home technology, a tankless water heater, a whole home air purification system, R-44 insulation, & more!

Key facts

• 0.25 acre lot
• 3 garage spots
• Pool

Property features AI

Finance

• Other: Occupied by owner; No conditions affecting sale; On market date: June 3, 2026
• Financial info: Loan qualification: Yes
• HOA & community: Mandatory association dues; Association fee includes gated entry, greenbelt, pool, and recreation facility

Exterior

• Parking: 3-car garage
• Utilities: Homestead not claimed
• Home design: Single-family residential; Two levels; Existing property
• Construction: Brick and frame construction; Composition roof; Slab foundation; Living area recorded as 2,707 (per appraisal)
• Exterior features: Covered patio; Wood fencing; Private pool with pool/spa combo; Storm shelter on garage floor

Interior

• Bedrooms: 5 bedrooms; Primary bedroom with tub & shower and walk-in closet
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Interior features: Ceiling fans; Window treatments; Fireplace with insert; Covered patio

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath single-family listed at $615k.

Deal economics

• At list price, monthly cash flow is $-933 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $450k (26.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $400k (35.0% below list).
• Recommended offer: $400k (35.0% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.4% in Edmond — 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 78/100 on livability (#6 in OK, #2,383 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: health & safety C-, commute 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: Redbud Es (616 students, 0% FRL); Sequoyah Ms (math 40% / reading 34%, grade F, #17 of 345 statewide, top 6%, 1,006 students, 0% FRL); Memorial Hs (math 44% / reading 56%, grade D+, #4 of 447 statewide, top 1%, 2,605 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: 192 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $66k of equity ($4k loan paydown + $62k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$106k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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 $514k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $400,000 (35.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.65% ✗
• Cap rate: 4.47%
• Cash-on-cash: -6.50%
• DSCR: 0.71
• GRM: 12.8

CMA / ARV

• ARV (on-the-fly): $514,564
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8700 Stark St	0.09mi	5/3.0	2,530 (-3%)	8mo	$495,000	$196	80
5408 Braavos Way	0.18mi	5/3.0	2,520 (-4%)	2mo	$543,840	$216	80
8817 Arya Rd	0.17mi	4/3.0 (-1)	2,624 (+0%)	9mo	$502,500	$192	74
5216 Braavos Way	0.15mi	4/3.0 (-1)	2,450 (-6%)	1mo	$533,000	$218	73
5009 Sunspear Dr	0.21mi	4/3.0 (-1)	2,640 (+1%)	8mo	$450,000	$170	73
5001 Braavos Way	0.20mi	4/3.0 (-1)	2,800 (+7%)	2mo	$529,000	$189	68
5316 Braavos Way	0.16mi	4/3.0 (-1)	2,850 (+9%)	1mo	$593,340	$208	68
5400 Braavos Way	0.18mi	5/3.0	2,950 (+13%)	3mo	$582,340	$197	64
8709 Tyrion Dr	0.04mi	4/3.0 (-1)	2,250 (-14%)	9mo	$475,340	$211	59
6025 Lindberg Ln	0.62mi	4/3.5 (-1)	2,870 (+10%)	7mo	$637,500	$222	42
8217 Grass Creek Dr	0.66mi	4/3.0 (-1)	2,829 (+8%)	6mo	$555,000	$196	41
8117 Grass Creek Dr	0.71mi	4/3.0 (-1)	2,785 (+7%)	11mo	$549,777	$197	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 2.60×
• Total profit: $275,509
• Equity at exit: $554,041

10-year hold

• IRR: 18.1%
• Equity multiple: 5.98×
• Total profit: $857,968
• Equity at exit: $1,194,810

Cash invested: $172,200 (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 73007

• Home prices YoY: 4.0%
• Active inventory: 192
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $4,000 medium
• Mortgage (P&I): −$3,225
• Tax from tax record: −$528 /mo · $6,339/yr
• Insurance: −$256
• HOA: −$83
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $-933

Break-even live

Break-even rent $5,181

Max offer price $450,247

Occupancy floor —

Sensitivity live

Price	-10% $-584	-5% $-759	+0% $-933	+5% $-1,107	+10% $-1,281
Rent	-10% $-1,249	-5% $-1,091	+0% $-933	+5% $-775	+10% $-617
Rate	-1.0pp $-623	-0.5pp $-776	base $-933	+0.5pp $-1,092	+1.0pp $-1,254

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: $153,750
• Closing costs: $18,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7901 Behr Dr Edmond, OK	5.0	4.0	2829	$4,000	$1.41	22d	1	0.95mi

HOA detail

• Monthly dues: $83 · $996/yr
• Likely covers: watergascablepool

Listing history 6 events

1. 2026-06-13
   statusdays on market $615,000 Pending 8 DOM
2. 2026-06-09
   days on market $615,000 Active 6 DOM
3. 2026-06-08
   days on market $615,000 Active 5 DOM
4. 2026-06-07
   days on market $615,000 Active 4 DOM
5. 2026-06-03
   remarks 693-char remark
6. 2026-06-03
   listed $615,000 Active 1 DOM

ⓘ 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: $6,339 · $528/mo
• Projected year-2 tax: $6,339 · $528/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: $48,000
• − Mortgage interest: −$34,450
• − Property taxes: −$6,339
• − Insurance: −$3,075
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − HOA: −$996
• − Depreciation: −$17,891
• Taxable loss: −$22,431
• Est. tax savings @ 24.0%: +$5,383
• After-tax cash flow: $-5,808/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 — Edmond

• Score: 78/100
• State rank: #6
• US rank: #2383

Category grades

Amenities C Commute F Cost of living B+ Crime A- Employment A+ Housing A+ Health & safety C- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edmond, OK
• City population: 177,083
• Population (ZIP): 2,945

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 (80%)
• Race & ethnicity: White 80% Two or more races 15% Hispanic / Latino 5% Black 2%
• Common ancestry: Lithuanian 5% Romanian 3% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 2% 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: ▲ 12.99%
• Current HPI: 336.6015
• 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

+21.2% since first listed

9 events — show timeline

• 2026-06-03 Listed $615,000 MLSOK
• 2024-06-24 Sold (MLS) $514,340 MLSOK
• 2024-06-04 Pending — MLSOK
• 2024-03-25 Price Changed $514,340 MLSOK
• 2024-03-12 Relisted — MLSOK
• 2024-03-12 Price Changed $512,340 MLSOK
• 2024-02-05 Pending — MLSOK
• 2024-01-08 Price Changed $509,840 MLSOK
• 2023-09-07 Listed $507,340 MLSOK

Property tax history

+752.9%/yr

Latest (2025): $6,339 · +7119.0% YoY. Source: county tax records.