2021 N Frankfort Pl · Tulsa, OK 74106

$60,000

3 bd · 2.0 ba · 2,604 sqft · SingleFamily public records · 10 Days on market

Built 1981 ↓ 12% since listing

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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
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Listing remarks MLS

Extremely well maintained home on a huge corner lot. Large glazed stone fireplace, floor to ceiling in tall living area. There are 3 living rooms in this house. 24x24 open shop and 12x14 lawn shed included. Nice thick Bermuda grass on the whole property.

Key facts

• Bermuda grass
• Stone fireplace
• Corner lot

Tags

• CORNER LOT
• STONE FIREPLACE
• OVERSIZED OUTBUILDINGS
• BERMUDA GRASS

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Security: No safety shelter
• Utilities: Public water; Public sewer
• Home design: 2-story home; Faces west; Handicap accessible entry/features; Slab foundation
• Construction: Stone and wood frame construction; Asphalt/fiberglass roof; Built (year from public records)
• Exterior features: Corner lot; Shed(s)

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Wet bar; High ceilings; Vaulted ceilings; Ceiling fan(s); Aluminum window frames; Wood-burning fireplace (1)
• Laundry & utility: Gas dryer hookup; No hot water (appliance noted)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 23.6% vs local median 3.9% in Tulsa — 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 75/100 on livability (#13 in OK, #4,058 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment D-.
• Tulsa (urban): math 7% / reading 12% proficiency, ranked #250 of 270 in OK (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.5%/yr); 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• At $1,765/mo this rent would consume 52% of the median local household income ($41k/yr) (locally 1055% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.94% ✓
• Cap rate: 23.64%
• Cash-on-cash: 61.96%
• DSCR: 3.76
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $348,936
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 E Young St	0.53mi	3/2.5	2,624 (+1%)	7mo	$335,000	$128	66
1614 N Cheyenne Ave	0.69mi	3/2.0	2,458 (-6%)	12mo	$330,000	$134	48
214 E 27th Pl	0.71mi	3/2.5	2,635 (+1%)	19mo	$695,000	$264	47
1622 N Cheyenne Ave	0.68mi	4/2.0 (+1)	2,336 (-10%)	2mo	$260,000	$111	44
232 E 27th Pl	0.69mi	3/2.5	2,231 (-14%)	24mo	$578,000	$259	22

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

Projected returns pro-forma

-3.0% appreciation · 3.54% rent growth · sell at horizon

5-year hold

• IRR: 61.6%
• Equity multiple: 3.77×
• Total profit: $46,588
• Equity at exit: $8,946

10-year hold

• IRR: 66.4%
• Equity multiple: 7.91×
• Total profit: $116,101
• Equity at exit: $5,188

Cash invested: $16,800 (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 74106

• Home prices YoY: -2.5%
• Rents YoY: 3.5%
• Active inventory: 137
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,765 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$188 /mo · $2,250/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $867

Break-even live

Break-even rent $667

Max offer price $60,000

Occupancy floor 46%

Sensitivity live

Price	-10% $901	-5% $884	+0% $867	+5% $850	+10% $834
Rent	-10% $728	-5% $798	+0% $867	+5% $937	+10% $1,007
Rate	-1.0pp $898	-0.5pp $883	base $867	+0.5pp $852	+1.0pp $836

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
230 E Zion St Tulsa, OK	4.0	2.0	1857	$1,650	$0.89	24d	1	0.47mi
1152 N Boston Pl Tulsa, OK	4.0	2.0	1756	$2,550	$1.45	24d	1	1.02mi

Listing history 17 events

1. 2026-05-18
   status Pending
2. 2026-05-06
   listed $60,000 Active
3. 2018-07-03
   soldstatus $148,000 Closed 254-char remark

   Show marketing remark (254 chars)

   Extremely well maintained home on a huge corner lot. Large glazed stone fireplace, floor to ceiling in tall living area. There are 3 living rooms in this house. 24x24 open shop and 12x14 lawn shed included. Nice thick Bermuda grass on the whole property.

4. 2018-03-19
   status Pending 254-char remark

   Show marketing remark (254 chars)

   Extremely well maintained home on a huge corner lot. Large glazed stone fireplace, floor to ceiling in tall living area. There are 3 living rooms in this house. 24x24 open shop and 12x14 lawn shed included. Nice thick Bermuda grass on the whole property.

5. 2018-03-13
   price $149,888 254-char remark

   Show marketing remark (254 chars)

   Extremely well maintained home on a huge corner lot. Large glazed stone fireplace, floor to ceiling in tall living area. There are 3 living rooms in this house. 24x24 open shop and 12x14 lawn shed included. Nice thick Bermuda grass on the whole property.

6. 2018-01-18
   listed $153,531 Active 254-char remark

   Show marketing remark (254 chars)

   Extremely well maintained home on a huge corner lot. Large glazed stone fireplace, floor to ceiling in tall living area. There are 3 living rooms in this house. 24x24 open shop and 12x14 lawn shed included. Nice thick Bermuda grass on the whole property.

7. 2017-08-31
   historical
8. 2017-05-10
   price $154,900
9. 2017-05-09
   listed $160,000 Active
10. 2017-05-06
    historical
11. 2017-03-29
    price $154,900
12. 2017-03-06
    listed $160,000 Active
13. 2005-10-07
    soldstatus $144,000
14. 2005-10-03
    soldstatus $144,000
15. 2005-08-31
    historical
16. 2005-06-10
    listed $144,900
17. 1988-02-10
    soldstatus $68,000

ⓘ 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: $2,250 · $188/mo
• Projected year-2 tax: $2,250 · $188/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,184
• − Mortgage interest: −$3,361
• − Property taxes: −$2,250
• − Insurance: −$300
• − Repairs & maintenance: −$1,695
• − Management: −$1,695
• − Depreciation: −$1,745
• Taxable income: $10,138
• Est. tax owed @ 24.0%: −$2,433
• After-tax cash flow: $7,977/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: Tulsa
• NCES district ID: 4030240
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 12% ▼ -7.00%
• Median HH income: $37,895
• Composite: 8.04/100
• National rank: #9919
• State rank: #250 of 270 in OK

Livability — Tulsa

• Score: 75/100
• State rank: #13
• US rank: #4058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulsa, OK
• County: Tulsa County · 640,811 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 15,655
• Household income: $40,776
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1055.0

Population outlook (Tulsa County) Hauer SSP2

• Today (2025): 723,846 people
• By 2030: 766,033 · +5.8%
• By 2040: 851,386 · +17.6%
• By 2050: 938,389 · +29.6%
• By 2075: 1,166,011 · +61.1%
• By 2100: 1,350,277 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 55% White 17% Hispanic / Latino 14% Two or more races 13% Native American 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Tulsa

• 2024 margin: R (+15.2) · D 41.3% · R 56.5% · Other 2.2%
• 2008→2024 swing: +9.2pp toward D · 2008: -24.5pp · 2024: -15.2pp
• All cycles: 2024: R+15.2 2020: R+15.6 2016: R+22.9 2012: R+27.4 2008: R+24.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.58%
• Current HPI: 179.5268
• Rent YoY: ▲ 3.54%
• Metro: Tulsa, OK
• 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

-11.8% since first listed

17 events — show timeline

• 2026-05-18 Pending — MLS Technology, Inc.
• 2026-05-06 Listed $60,000 MLS Technology, Inc.
• 2018-07-03 Sold (MLS) $148,000 MLS Technology, Inc.
• 2018-03-19 Pending — MLS Technology, Inc.
• 2018-03-13 Price Changed $149,888 MLS Technology, Inc.
• 2018-01-18 Listed $153,531 MLS Technology, Inc.
• 2017-08-31 Listing Removed — MLS Technology, Inc.
• 2017-05-10 Price Changed $154,900 MLS Technology, Inc.
• 2017-05-09 Listed $160,000 MLS Technology, Inc.
• 2017-05-06 Listing Removed — MLS Technology, Inc.
• 2017-03-29 Price Changed $154,900 MLS Technology, Inc.
• 2017-03-06 Listed $160,000 MLS Technology, Inc.
• 2005-10-07 Sold (Public Records) $144,000 Public Records
• 2005-10-03 Sold (MLS) $144,000 MLS Technology, Inc.
• 2005-08-31 Listing Removed — MLS Technology, Inc.
• 2005-06-10 Listed $144,900 MLS Technology, Inc.
• 1988-02-10 Sold (Public Records) $68,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $2,250 · +6.8% YoY. Source: county tax records.