307 Summit BndNormanOK73071
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Norman at 307 Summit Bnd, Norman, OK, 73071 priced at $407,000 converts $2,912/mo rent into $313/mo cash flow after a $1,992/mo obligation. Total monthly income equals $2,912/mo, and annual cash flow totals $3,755/yr on $134,921 invested. Return on cash invested prints 22.69% in year one, and rental yield reads 8.59% against a $407,000 entry. Equity gained on principal adds $2,626/yr, while 5% annual appreciation compiles into $112,447 by year five. Five-year ROI reaches 118.02% and total cumulative return in cash sums $159,234. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,912/mo property income covering a $1,992/mo payment, not borrower’s personal income.
Single Family
Built in 2009
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 73071, Norman, OK area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,985 (100%) |
| Owner Occupied HU | 8,126 (40.7%) |
| Renter Occupied HU | 10,330 (51.7%) |
| Vacant Housing Units | 1,529 ( 7.7%) |
| Median Home Value | $244,303 |
| Average Home Value | $298,263 |
Housing Distribution
Address Breakdown
Residential
19,765
Single Family
15,759
Multi-Family
4,006
Businesses
614
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