2137 NW 12th St · Oklahoma City, OK 73107

$205,000

2 bd · 2.0 ba · 1,560 sqft · MultiFamily public records · 4 Days on market

Built 1937 7,000 sqft lot $131/sqft · 18% below area Est $250k · 18% under

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Why this score? — see what drove the C 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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.8/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Rare MLS deal, priced with the investor in mind. Rare opportunity to find the 1% deal. This is a recently updated duplex, the downstairs 1BR 1 Ba unit has a full kitchen and living room space while the upstairs is a 2BR 1Ba unit with a full kitchen and dining space. The kitchens have been recently updated with new appliances, new high-efficiency multi-zone mini splits , new paints, new flooring, and even custom craftsman style trims. Rent for the 1BR downstairs unit is $909/mo on Section 8, so your rent is secure. The 2BR upstairs unit is estimated to be $1200-1400/mo, making the total rents for this duplex to be $2109-$2309/mo. Everything is rentable as-is and potentially can increase furt

Key facts

• In unit laundry
• 7,000 sq ft lot
• Built 1937

Tags

• IN UNIT LAUNDRY
• HIGH EFFICIENCY MINI SPLITS
• TURNKEY FLEXIBLE PROPERTY

Property features AI

Finance

• Financial info: Listing sold as-is; acceptable financing: Cash or Conventional; Gross income reported: $2,100; Assumable: No

Exterior

• Parking: Concrete parking
• Home design: Residential income property (duplex)
• Construction: Vinyl siding; Shingle roof; Conventional foundation; Existing structure
• Exterior features: Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Zoned heating; Zoned cooling; No fireplace
• Interior features: Private entry; Occupied (rented)

What this means for you Summary

Snapshot

• This is a 1×1.0bd/1.0ba + 1×2.0bd/1.0ba units multifamily listed at $205k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive. Per door: $105/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (1.8% below list).
• Recommended offer: $201k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.7% 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: Hawthorne Es (math 8% / reading 17%, grade F, #652 of 845 statewide, top 79%, 376 students, 0% FRL); Northwest Classen Hs (math 5% / reading 10%, grade F, #420 of 447 statewide, top 95%, 1,702 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: Rents rising fast (+7.3%/yr); 221 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $57k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.
• Current owner paid $163k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $201,300 (1.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1937 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.52%
• Cash-on-cash: 4.38%
• DSCR: 1.19
• GRM: 8.5

CMA / ARV

• ARV (median comp): $249,835
• List price: $205,000
• Delta: -9.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2521 NW 12th St	0.46mi	2/2.0	1,556 (-0%)	2mo	$210,000	$135	76
2529 W Park Pl	0.50mi	2/2.0	1,432 (-8%)	3mo	$160,000	$112	60
1311 N Mckinley Ave	0.70mi	2/2.0	1,564 (+0%)	18mo	$166,000	$106	52
1716 NW 9th St	0.62mi	3/2.0 (+1)	1,647 (+6%)	6mo	$265,000	$161	52
2519 NW 20th St	0.73mi	2/2.0	1,512 (-3%)	12mo	$320,000	$212	51
1805 NW 9th St	0.53mi	3/3.0 (+1)	1,708 (+10%)	13mo	$130,000	$76	40
2518 NW 20th St	0.71mi	2/2.0	1,692 (+8%)	22mo	$274,000	$162	35

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 · 7.29% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-10,808
• Equity at exit: $30,566

10-year hold

• IRR: 9.2%
• Equity multiple: 1.84×
• Total profit: $48,438
• Equity at exit: $17,725

Cash invested: $57,400 (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 73107

• Rents YoY: 7.3%
• Active inventory: 221
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$1,075
• Tax from tax record: −$220 /mo · $2,645/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $209

Break-even live

Break-even rent $1,748

Max offer price $205,000

Occupancy floor 85%

Sensitivity live

Price	-10% $325	-5% $267	+0% $209	+5% $151	+10% $93
Rent	-10% $50	-5% $130	+0% $209	+5% $289	+10% $368
Rate	-1.0pp $313	-0.5pp $262	base $209	+0.5pp $156	+1.0pp $102

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1.0	1	$982
1× unit	2.0	1	$1,031
Total (2 units)			$2,013

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2139 NW 15th St Oklahoma City, OK	3.0	2.0	1551	$1,950	$1.26	44d	1	0.22mi
1928 NW 18th St Oklahoma City, OK	3.0	2.5	1914	$2,200	$1.15	44d	1	0.48mi
2519 W Park Pl Oklahoma City, OK	3.0	2.0	2000	$1,900	$0.95	44d	1	0.50mi
2207 NW 19th St Oklahoma City, OK	1.0	1.5	1208	$1,050	$0.87	5d	1	0.51mi
2525 NW 11th St Oklahoma City, OK	3.0	2.0	1415	$1,550	$1.10	44d	1	0.51mi
1138 N Blackwelder Ave Unit 3 Oklahoma City, OK	2.0	2.0	1250	$1,599	$1.28	12d	1	0.60mi
1805 N Gatewood Ave Oklahoma City, OK	2.0	1.0	1200	$1,600	$1.33	3d	1	0.63mi
2236 NW 22nd St Oklahoma City, OK	2.0	1.0	1200	$950	$0.79	22d	1	0.68mi
1625 NW 16th St Unit 2 Oklahoma City, OK	2.0	2.0	1136	$1,850	$1.63	44d	1	0.69mi
1628 NW 17th St Unit 1 Oklahoma City, OK	2.0	1.0	1125	$1,450	$1.29	44d	1	0.69mi
1721 NW 18th St Oklahoma City, OK	3.0	2.0	1900	$1,300	$0.68	44d	1	0.70mi
1630 NW 17th St Unit 2 Oklahoma City, OK	2.0	1.0	1125	$1,400	$1.24	44d	1	0.70mi
2300 N Youngs Blvd Oklahoma City, OK	1.0	1.0	1176	$865	$0.74	44d	1	0.71mi
1403 N Miller Blvd Oklahoma City, OK	2.0	1.0	1200	$1,100	$0.92	5d	1	0.73mi
1517 N Miller Blvd Oklahoma City, OK	3.0	2.0	1968	$1,650	$0.84	5d	1	0.74mi
2801 NW 11th St Oklahoma City, OK	2.0	1.0	1100	$1,150	$1.05	15d	1	0.83mi
1419 NW 17th St Oklahoma City, OK	1.0	1.0	1137	$925	$0.81	44d	1	0.86mi
2301 N Florida Ave Oklahoma City, OK	2.0	1.5	1700	$1,235	$0.73	18d	1	0.88mi
1407 1/2 NW 17th St Oklahoma City, OK	1.0	1.0	1100	$875	$0.80	44d	1	0.88mi
1405 NW 17th St Oklahoma City, OK	1.0	1.0	1100	$975	$0.89	44d	1	0.89mi
1215 NW 13th St Oklahoma City, OK	3.0	1.0	1368	$2,200	$1.61	44d	1	0.92mi
1209 NW 11th St Oklahoma City, OK	2.0	2.5	1400	$1,795	$1.28	5d	1	0.93mi
1209 NW 11th St Oklahoma City, OK	2.0	2.5	1400	$1,795	$1.28	18d	1	0.93mi
1322 NW 17th St Unit B Oklahoma City, OK	2.0	1.0	1294	$1,200	$0.93	45d	1	0.94mi
2748 NW 22nd St Oklahoma City, OK	2.0	1.0	1066	$1,500	$1.41	3d	1	0.99mi
2605 NW 24th St Oklahoma City, OK	2.0	1.0	1300	$1,525	$1.17	3d	1	1.02mi
1219 NW 18th St Unit 1219 1/2 Oklahoma City, OK	2.0	1.0	1200	$1,400	$1.17	44d	1	1.04mi
2820 General Pershing Blvd Oklahoma City, OK	1.0–3.0	1.0–2.0	951	$1,185	$1.25	3d	39	1.07mi
2504 NW 27th St Oklahoma City, OK	2.0	1.0	1303	$1,450	$1.11	44d	1	1.10mi
3021 NW 13th St Oklahoma City, OK	3.0	1.0	1072	$995	$0.93	24d	1	1.11mi
2004 NW 28th St Oklahoma City, OK	2.0	1.0	1425	$1,195	$0.84	44d	1	1.14mi
1302 NW 22nd St Oklahoma City, OK	3.0	2.0	1647	$2,395	$1.45	44d	1	1.14mi
1302 NW 22nd St Oklahoma City, OK	3.0	2.5	1647	$2,395	$1.45	24d	1	1.14mi
2808 NW 24th St Unit A Oklahoma City, OK	3.0	1.5	1604	$1,595	$0.99	4d	1	1.17mi
1414 N Drexel Blvd Oklahoma City, OK	2.0	1.0	1604	$1,100	$0.69	3d	1	1.18mi
925 NW 8th St Oklahoma City, OK	3.0	3.0	2156	$2,950	$1.37	44d	1	1.21mi
1400 NW 25th St Unit 2515-200 Oklahoma City, OK	3.0	2.5	1600	$1,595	$1.00	44d	1	1.22mi
2400 NW 30th St Oklahoma City, OK	2.0	2.0	1078	$1,289	$1.20	44d	1	1.28mi
2736 NW 27th St Oklahoma City, OK	3.0	2.0	1657	$1,895	$1.14	3d	1	1.28mi
2400 NW 30th St Oklahoma City, OK	1.0–2.0	1.0–2.0	801	$1,279	$1.60	3d	11	1.28mi

Listing history 13 events

1. 2026-06-21
   days on market $205,000 Active 4 DOM
2. 2026-06-18
   pricedays on marketlisting id $205,000 Active 1 DOM
3. 2026-06-01
   days on market $225,000 Active 46 DOM
4. 2026-05-31
   days on market $225,000 Active 45 DOM
5. 2026-04-16
   listed $225,000 Active 1291-char remark
6. 2026-01-01
   historical
7. 2025-12-16
   price $220,000
8. 2025-11-23
   price $219,000
9. 2025-10-25
   price $220,000
10. 2025-10-01
    listed $225,000 Active
11. 2021-03-22
    soldstatus $163,000
12. 2019-09-09
    soldstatus $374,000
13. 2013-06-25
    soldstatus $176,000

ⓘ 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: $2,645 · $220/mo
• Projected year-2 tax: $2,645 · $220/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 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,156
• − Mortgage interest: −$11,483
• − Property taxes: −$2,645
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$5,964
• Taxable loss: −$825
• Est. tax savings @ 24.0%: +$198
• After-tax cash flow: $2,711/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: 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

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 · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 25,791
• Household income: $56,873
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1210.0

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 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 13% Native American 6% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 30% 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: —

Market trends

• HPI YoY: ▼ -245.03%
• Current HPI: 274.7844
• Rent YoY: ▲ 7.29%
• Metro: Oklahoma City, 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

+16.5% since first listed

11 events — show timeline

• 2026-06-17 Listed $205,000 MLSOK
• 2026-06-01 Listing Removed — MLSOK
• 2026-04-16 Listed $225,000 MLSOK
• 2026-01-01 Listing Removed — MLSOK
• 2025-12-16 Price Changed $220,000 MLSOK
• 2025-11-23 Price Changed $219,000 MLSOK
• 2025-10-25 Price Changed $220,000 MLSOK
• 2025-10-01 Listed $225,000 MLSOK
• 2021-03-22 Sold (Public Records) $163,000 Public Records
• 2019-09-09 Sold (Public Records) $374,000 Public Records
• 2013-06-25 Sold (Public Records) $176,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $2,645 · +4.2% YoY. Source: county tax records.