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$95,000

For Sale - Active
6554 N Meridian Ave Apt 210, Oklahoma City, OK 73116
2 Beds
2 Baths
0 Square Feet
0.00 Acres Lot
Built in 1975
For Sale - Active
1 Units
Checked: 15 hours ago
Updated: May 20, 2025 at 09:25AM

Investment Summary


Monthly Cash Flow
$25
Cap Rate
6.0%
Cash-on-Cash Return
1.4%
Debt Coverage Ratio
1.06
Internal Rate of Return (5 years)
5.3%

Property Description


0.00 Acres Lot
Built in 1975
For Sale - Active
1 Units

Charming upper-level condo in a prime NW OKC location right off NW Expressway, this affordable 2 bedroom, 2 bathroom home is listed under $100,000, making it ideal for first-time buyers; enjoy an open living area filled with natural light from the balcony access, complete with a built-in wood burning fireplace, a kitchen featuring a tiled backsplash and ample cabinet space with a dining area boasting built-in pantry storage, plus the convenience of an in-unit laundry room and two spacious bedrooms each served by a full bathroom with a shower/tub combo; the annual HOA fee is $2,496 and covers partial utilities, exterior maintenance, and insurance. Don't miss out on this incredible opportunity – schedule your showing today!

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Location


Property Details


Parking

  • Description: NoGarage
  • Details: No Garage
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Composition
  • Pool: Yes

HOA

  • Has HOA: Yes
  • HOA Fee: $2,496/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 140862100
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Traditional
  • Year Built: 1975

Tax Information

  • Annual Tax: $915

Utilities

  • Heating: Central, Electric
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Oklahoma

Listing Details


Listed by:
Tara Levinson
LRE Realty LLC
(405) 414-8750

Source:
MLSOK
MLS#: 1165377

Investment Summary


Monthly Cash Flow
$25
Cap Rate
6.0%
Cash-on-Cash Return
1.4%
Debt Coverage Ratio
1.06
Internal Rate of Return (5 years)
5.3%

Purchase Details

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Purchase price:
$95,000
Amount financed:
-$76,000
Down payment:
$19,000
Closing costs:
$2,850
Rehab costs:
$0
Initial cash invested:
$21,850
Square feet:
0
Cost per square foot:
n/a
Monthly rent per square foot:
n/a

Financing Details

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Loan amount:
$76,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$450
Property tax:
$76
Insurance:
$77
Private mortgage insurance (PMI):
$0
Monthly payment:
$603

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,100 $13,200
Vacancy loss: (6%)
6% -$66 -$792
Operating income:
$1,034 $12,408

Operating Expenses


% Rent Monthly Yearly
Property taxes: (7%)
7%-$76-$915
Insurance: (7%)
7%-$77-$924
Property management: (8%)
8%-$88-$1,056
Repairs & maintenance: (5%)
5%-$55-$660
Capital expenditures: (5%)
5%-$55-$660
HOA fees: (19%)
19%-$208-$2,496
Total operating expenses: (51%)
51%-$559-$6,711

Cash Flow


Monthly Yearly
Net operating income:
$475 $5,700
Mortgage payments:
-$450 -$5,400
Cash flow:
$25 $300