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601 SE 39th St
B Composite 71.17
Why this score? — see what drove the B 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 +30.0/30.0
  • 1% rule +10.0/10.0
  • DSCR +10.0/10.0
  • ARV discount +7.5/15.0
  • Appreciation +5.9/10.0
  • Livability +4.0/5.0
  • Rent growth +2.5/5.0
  • Condition / age +1.0/5.0
  • Schools +0.3/10.0

$50,000

601 SE 39th St · Oklahoma City, OK 73129
2 bd · 1.0 ba · 757 sqft · SingleFamily public records · 44 Days on market
Built 1939 Poor condition 8,150 sqft lot $66/sqft · 46% below area ↓ 9% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

This 2-bedroom, 1-bath home offers potential for buyers looking to renovate, update, or customize a property to fit their vision. Conveniently located with easy access to Downtown Oklahoma City, I-35, Tinker Air Force Base, shopping, dining, and major employment centers. The property is being sold as-is and presents an excellent opportunity for investors, remodelers, or buyers seeking a project. Buyers are encouraged to perform their own inspections and due diligence regarding the property's condition and suitability for their intended use.

Key facts

  • Access to i-35
  • Access to shopping
  • Access to dining

Tags

ACCESS TO I-35ACCESS TO SHOPPINGACCESS TO DININGCENTRALLY LOCATED AREA

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/1.0-bath single-family listed at $50k. Condition is rated poor.

Deal economics

  • At list price, monthly cash flow is $475 ($6k/yr) — positive.
  • The deal already cash-flows at list — no discount required.
  • Meets the 1% rule at list price ($998 rent vs $50k).
  • Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
  • Cap rate 17.7% vs local median 3.9% 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.
  • Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
  • Zoned schools: Cesar Chavez Es (math 4% / reading 3%, grade F, #797 of 845 statewide, top 95%, 630 students, 0% FRL); Classen Ms of Advanced Studies (math 35% / reading 46%, grade F, #6 of 345 statewide, top 1%, 855 students, 0% FRL); Douglass Hs (math 2% / reading 2%, grade F, #445 of 447 statewide, top 100%, 556 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
  • Market conditions: 104 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals lingering (median 65d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 87% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

  • In year one you build about $1k of equity ($346 loan paydown + $873 appreciation (1.8% local appreciation)).
  • Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
  • At projected returns (1.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

  • It's been on market 44 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
  • Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $48,500 (3.0% below list)

Questions for the listing agent

  1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
  2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
  3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  5. 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?
  6. 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?
  7. 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.
  8. 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.
  9. 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
2.00%
Cap rate
17.70%
Cash-on-cash
40.75%
DSCR
2.81
GRM
4.2

CMA / ARV

ARV (median comp)
$148,640
List price
$50,000
Delta
-66.36%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
617 SW 35th St 0.26mi 2/1.0 776 (+2%) 8mo $146,000 $188 77
3901 S Magnolia St 0.48mi 2/1.0 752 (-1%) 3mo $73,000 $97 74
1035 SE 39th St 0.45mi 2/1.0 780 (+3%) 1mo $96,000 $123 73
1035 SE 39th St 0.45mi 2/1.0 780 (+3%) 2mo $75,000 $96 72
701 SE 35th St 0.26mi 2/1.0 744 (-2%) 22mo $95,000 $128 67
312 SE 40th St 0.24mi 2/1.0 843 (+11%) 4mo $160,000 $190 66
717 SE 31st St 0.56mi 2/1.0 770 (+2%) 9mo $54,900 $71 64
313 SE 40th St 0.23mi 2/1.0 836 (+10%) 14mo $155,900 $186 60
612 SE 28th St 0.71mi 2/1.0 832 (+10%) 1mo $100,000 $120 50
1100 SE 39th St 0.50mi 3/1.5 (+1) 744 (-2%) 22mo $148,000 $199 48
1324 SE 41st St 0.71mi 3/1.0 (+1) 720 (-5%) 15mo $155,000 $215 41
716 SE 31st St 0.54mi 3/1.0 (+1) 864 (+14%) 21mo $123,000 $142 29

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

Projected returns pro-forma

1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold
IRR
44.4%
Equity multiple
3.36×
Total profit
$33,064
Equity at exit
$19,040
10-year hold
IRR
45.4%
Equity multiple
6.68×
Total profit
$79,506
Equity at exit
$26,905

Cash invested: $14,000 (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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
7 active · 7 under contract
Months of supply
5.2 mo (19%/mo absorbed)
Median asking
$130,000 ($159/sqft)
Median days on market
47 d
This list price
lowest-priced of the active set
ARV vs active asking
+23.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 73129

Home prices YoY
0.7%
Active inventory
104
Price-to-rent
4.2×

Monthly cashflow live

Estimated rent
$998 high interval (Pro) →
Mortgage (P&I)
$262
Tax from tax record
$30 /mo · $357/yr
Insurance
$21
HOA
$0
Vacancy / Maint / Mgmt
$210
Net cashflow
$475

Break-even live

Break-even rent $396
Max offer price $50,000
Occupancy floor 47%

Sensitivity live

Price -10% $504 -5% $490 +0% $475 +5% $461 +10% $447
Rent -10% $397 -5% $436 +0% $475 +5% $515 +10% $554
Rate -1.0pp $501 -0.5pp $488 base $475 +0.5pp $462 +1.0pp $449

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
$12,500
Closing costs
$1,500
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 38 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
338 SE 41st St Oklahoma City, OK 2.0 1.0 912 $1,099 $1.21 47d 1 0.27mi
4101 S Shields Blvd Unit Shields 3B Oklahoma City, OK 3.0 2.0 957 $1,050 $1.10 73d 1 0.43mi
4101 S Shields Blvd Apt 3B Oklahoma City, OK 3.0 2.0 957 $1,025 $1.07 53d 1 0.43mi
109 SE 42nd St Apt A Oklahoma City, OK 2.0 1.0 800 $759 $0.95 41d 1 0.54mi
109 SE 42nd St Unit D Oklahoma City, OK 2.0 1.0 800 $759 $0.95 20d 1 0.54mi
101 SE 42nd St Unit C Oklahoma City, OK 2.0 1.0 700 $785 $1.12 34d 1 0.56mi
101 SE 42nd St Unit B Oklahoma City, OK 2.0 1.0 740 $645 $0.87 93d 1 0.56mi
4908 S Stiles Ave Oklahoma City, OK 2.0 1.0 600 $1,000 $1.67 93d 1 0.71mi
1413 SE 39th St Oklahoma City, OK 3.0 1.0 1004 $1,125 $1.12 93d 1 0.76mi
230 SE 50th St Oklahoma City, OK 2.0 1.0 868 $1,275 $1.47 27d 1 0.84mi
220 SW 34th St Oklahoma City, OK 1.0 1.0 625 $725 $1.16 93d 1 0.95mi
407 SE 25th St Oklahoma City, OK 3.0 1.0 896 $1,275 $1.42 93d 1 0.96mi
3913 S Harvey Ave Unit 2 Oklahoma City, OK 1.0 1.0 568 $900 $1.58 93d 1 0.99mi
3312 S Harvey Ave Oklahoma City, OK 2.0 1.0 840 $1,100 $1.31 69d 1 1.03mi
317 SE 24th St Oklahoma City, OK 2.0 1.0 917 $950 $1.04 53d 1 1.05mi
3906 S Hudson Ave Oklahoma City, OK 1.0 1.0 700 $750 $1.07 73d 1 1.06mi
1528 SE 47th Pl Oklahoma City, OK 3.0 1.0 1092 $1,300 $1.19 53d 1 1.14mi
1528 SE 49th Ter Oklahoma City, OK 3.0 1.0 912 $1,100 $1.21 73d 1 1.19mi
630 SE 21st St Oklahoma City, OK 3.0 2.0 1000 $1,095 $1.09 93d 1 1.22mi
630 SE 21st St Oklahoma City, OK 3.0 2.0 1000 $1,095 $1.09 47d 1 1.22mi
526 SE 21st St Oklahoma City, OK 3.0 1.0 1054 $1,150 $1.09 53d 1 1.22mi
5113 S Sage Ave Oklahoma City, OK 3.0 1.5 996 $1,025 $1.03 51d 1 1.22mi
1501 SE 52nd St Oklahoma City, OK 3.0 2.0 1012 $1,200 $1.19 17d 1 1.24mi
1501 SE 52nd St Oklahoma City, OK 3.0 2.0 1012 $1,200 $1.19 11d 1 1.24mi
1501 SE 52nd St Oklahoma City, OK 3.0 2.0 1012 $1,200 $1.19 73d 1 1.24mi
316 SW 27th St Unit 8 Oklahoma City, OK 1.0 1.0 615 $679 $1.10 93d 1 1.28mi
316 SW 27th St Unit 2 Oklahoma City, OK 1.0 1.0 635 $679 $1.07 34d 1 1.28mi
316 SW 27th St Unit 4 Oklahoma City, OK 1.0 1.0 615 $599 $0.97 32d 1 1.28mi
3618 S Lee Ave Oklahoma City, OK 1.0 1.0 760 $850 $1.12 93d 1 1.28mi
3616 S Lee Ave Oklahoma City, OK 1.0 1.0 760 $775 $1.02 93d 1 1.28mi
726 SE 20th St Oklahoma City, OK 2.0 1.0 672 $1,095 $1.63 93d 1 1.30mi
123 SW 24th St Oklahoma City, OK 3.0 2.0 1121 $975 $0.87 17d 1 1.30mi
116 SW 23rd St Oklahoma City, OK 1.0 1.0 700 $650 $0.93 93d 1 1.32mi
3407 S Lee Ave Oklahoma City, OK 2.0 1.0 900 $980 $1.09 93d 1 1.33mi
115 SW 23rd St Oklahoma City, OK 1.0 1.0 750 $575 $0.77 65d 1 1.34mi
5109 S Georgia Ter Oklahoma City, OK 3.0 1.0 1056 $1,195 $1.13 39d 1 1.35mi
404 SW 26th St Unit 6 Oklahoma City, OK 1.0 1.0 600 $645 $1.07 61d 1 1.37mi
632 SW 44th St Oklahoma City, OK 2.0 1.0 958 $975 $1.02 41d 1 1.41mi

Property features AI

Finance

Other
Listing status: ActiveOccupied: NoLegal addition: Tappan Heights AddLot size approximately 0.1871 acresLiving area recorded as 1,221 (assessor)
Financial info
Loan qualification possible (buyer may qualify)Not assumable
HOA & community
No mandatory association dues

Exterior

Utilities
Homestead not claimed
Home design
Single-family residenceOne levelExisting property
Construction
Frame constructionComposition roofCombination foundationBuilt (existing) — year not provided
Exterior features
Open patioInterior lot

Interior

Bedrooms
2 bedrooms
Bathrooms
1 full bathroom
Heating & cooling
Central gas cooling/heating
Interior features
One living areaNo fireplace

Listing history 36 events

  1. 2026-07-30
    days on market $50,000 Active 44 DOM
  2. 2026-07-30
    days on market $50,000 Active 43 DOM
  3. 2026-07-28
    days on market $50,000 Active 42 DOM
  4. 2026-07-26
    days on market $50,000 Active 40 DOM
  5. 2026-07-24
    days on market $50,000 Active 38 DOM
  6. 2026-07-23
    days on market $50,000 Active 37 DOM
  7. 2026-07-22
    days on market $50,000 Active 36 DOM
  8. 2026-07-21
    days on market $50,000 Active 35 DOM
  9. 2026-07-20
    days on market $50,000 Active 34 DOM
  10. 2026-07-18
    days on market $50,000 Active 32 DOM
  11. 2026-07-18
    days on market $50,000 Active 31 DOM
  12. 2026-07-16
    days on market $50,000 Active 30 DOM
  13. 2026-07-15
    days on market $50,000 Active 29 DOM
  14. 2026-07-14
    days on market $50,000 Active 28 DOM
  15. 2026-07-13
    days on market $50,000 Active 27 DOM
  16. 2026-07-13
    days on market $50,000 Active 26 DOM
  17. 2026-07-11
    days on market $50,000 Active 25 DOM
  18. 2026-07-10
    days on market $50,000 Active 24 DOM
  19. 2026-07-09
    pricedays on market $50,000 Active 23 DOM
  20. 2026-07-07
    days on market $55,000 Active 21 DOM
  21. 2026-07-06
    days on market $55,000 Active 20 DOM
  22. 2026-07-05
    days on market $55,000 Active 19 DOM
  23. 2026-07-03
    days on market $55,000 Active 17 DOM
  24. 2026-07-02
    days on market $55,000 Active 16 DOM
  25. 2026-07-01
    days on market $55,000 Active 15 DOM
  26. 2026-06-30
    days on market $55,000 Active 14 DOM
  27. 2026-06-29
    days on market $55,000 Active 13 DOM
  28. 2026-06-28
    days on market $55,000 Active 12 DOM
  29. 2026-06-27
    days on market $55,000 Active 11 DOM
  30. 2026-06-27
    days on market $55,000 Active 10 DOM
  31. 2026-06-25
    days on market $55,000 Active 8 DOM
  32. 2026-06-22
    days on market $55,000 Active 6 DOM
  33. 2026-06-21
    days on market $55,000 Active 5 DOM
  34. 2026-06-18
    days on market $55,000 Active 2 DOM
  35. 2026-06-16
    remarks 699-char remark
  36. 2026-06-16
    listed $55,000 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
$357 · $30/mo
Projected year-2 tax
$450 · $37/mo
Expected delta
+$93/yr (+$8/mo · 25.9%)

ⓘ 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 1/10 Low
  • 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
  • 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
  • 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$11,974
− Mortgage interest
−$2,801
− Property taxes
−$357
− Insurance
−$250
− Repairs & maintenance
−$958
− Management
−$958
− Depreciation
−$1,455
Taxable income
$5,195
combined federal + state — saved on this device
Est. tax owed @ 24.0%
−$1,247
After-tax cash flow
$4,458/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.

Condition & rehab AI · 9 photos

Poor 20/100 Extensive rehab Est. rehab $37,850–$68,130 screening

This property requires extensive repairs and updates, including a new roof, exterior siding, and interior wall repairs. It presents a significant opportunity for investors to create a move-in-ready home with substantial value increases.

Deferred maintenance Est. $50,000–$150,000 screening

  • Major Roof (roof) — Significant damage to the roof structure and missing shingles
  • Major Windows (windows) — Windows appear to be broken or missing, indicating severe damage
  • Major Electrical (electrical) — Exposed wiring and structural damage suggest significant electrical issues
  • Major Plumbing (plumbing) — Exposed pipes and structural damage indicate severe plumbing issues
  • Major Exterior (exterior) — Significant structural damage to the exterior walls and roof

Repairs flagged

  • Major roof — Missing shingles and exposed framing
  • Major exterior siding — Peeling siding and exposed framing
  • Major flooring — Exposed subflooring and debris
  • Major interior walls — Exposed framing and debris
  • Major bathrooms — Exposed framing and debris
  • Major kitchen — Exposed framing and debris
  • Major HVAC/mechanicals — Exposed ductwork and debris
  • Major landscaping — Overgrown yard and debris

Value-add opportunities

  • Both New roof — Fixes the most critical issue and improves both resale and rental value
  • Both Exterior siding repair — Enhances curb appeal and protects the home
  • Both Interior wall repairs — Restores structural integrity and enhances living space
  • Both Bathroom and kitchen updates — Improves functionality and aesthetics
  • Both HVAC system replacement — Ensures comfort and energy efficiency
  • Both Landscaping and curb appeal — Enhances curb appeal and property value

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 3/100

Zoned Schools

Elementary Cesar Chavez Es F OK #797/845 Nat'l #41,272/41,679 High Douglass Hs F OK #445/447 Nat'l #17,145/17,239

Schools (NCES district)

District
Oklahoma City
NCES district ID
4022770
Math proficiency
7% ▼ -5.00%
Reading proficiency
10% ▼ -6.00%
Median HH income
$35,606
Composite
7.0/100
National rank
#9970
State rank
#254 of 270 in OK
A Composite livability gradescore 80/100

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
County
Oklahoma County · 911,875 people
City population
498,656
Metro
Oklahoma City, OK
Population (ZIP)
20,014
Household income
$46,670
Rent vs Own
49.9% rent · 50.1% own
Severe rent burden
12% of renters

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
Diverse neighborhood (Simpson 0.61)
Race & ethnicity
Hispanic / Latino 57% Two or more races 26% White 26% Black 9% Native American 7% Asian 1%
Hispanic origin (detail)
Mexican 53%
Common ancestry
Italian 1% Lithuanian 1% Slovak 1%
Foreign-born
24% · Canada, Dominican Republic
Languages at home
54% English-only · Spanish 44% Other Asian/Pacific 1% Vietnamese 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

Price history

-9.1% since first listed
2 events — show timeline
  • 2026-07-09 Price Changed $50,000 MLSOK as Distributed by MLS Grid
  • 2026-06-16 Listed $55,000 MLSOK as Distributed by MLS Grid

Property tax history

+8.7%/yr

Latest (2025): $357 · +4.4% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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