Character Home
1953 Norman Cottage Near OU Campus, Wood Floors Throughout — $150,000
6
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 6 | Pre-1950s cottage near OU; wood floors, covered porch, mature trees, natural light |
| Condition | 25% | 6 | Updated bathroom with tile; wood floors intact; systems age unknown, no specifics |
| Price / Sq Ft | 15% | 7 | $155/sqft vs zip median $182/sqft — ~15% below; thin data (8 comps), directional |
| Price vs. Market | 5% | 3 | $150K vs zip median $304,868 — 51% below, but zip skewed by larger homes |
| Market Conditions | 5% | 6 | 42% price drops is strong buyer signal; sale-to-list 98%, DOM 27 — balanced overall |
This house is 970 square feet, which is small, and the price is $150,000, which in Norman near the University of Oklahoma is genuinely low. The zip median is over $300,000, but that number is pulled up by larger homes, so the more honest comparison is price per square foot: $155 against a zip median of $182. That gap is real.
Built in 1953, it has two bedrooms, one bath, and wood floors throughout. The floors appear intact, which matters in a house this age because replacing them would cost a significant chunk of the purchase price. Large windows bring in good light. The bathroom has been updated with tile. Those are the two things the listing points to as finished work, and they look clean in the photos.
The front porch is covered and sits under mature trees. That combination in Oklahoma summer is worth something. The backyard has the same tree cover, which means actual shade rather than a flat open lot baking in the sun.
What the listing does not tell you is much about the systems. Age of the HVAC, roof condition, water heater, electrical panel: none of that is mentioned. On a 1953 house selling at this price point, those unknowns are the entire conversation. A thorough inspection is not optional here, it is the only way to find out what you are actually buying.
The Norman market right now has 42 percent of listings taking price drops, which is a buyer's market signal. Days on market average 27. Sale-to-list ratio is 98 percent. There is room to negotiate, and there is time to be careful.
This is a house for someone who wants to be close to OU, wants original wood floors in a small house on a tree-covered lot, and has the patience to do a proper inspection and potentially some work. At $150,000 near campus, the floor is low enough that even with surprises, there is room to land.
