209 W 17th St Unit 209C · Tulsa, OK 74119

$199,500

2 bd · 1.5 ba · 1,260 sqft · Condo public records · 47 Days on market

Built 1980 $25/mo HOA · 1% of rent

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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 +17.8/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +0.8/10.0

Listing remarks

Experience the pinnacle of low-maintenance downtown living in this beautifully updated two-bedroom townhouse within the exclusive, 12-unit Oakshire community. Perfectly positioned walking distance to the Arkansas River and downtown Tulsa’s premier dining and shopping, the home features a sophisticated main floor complete with gorgeous hardwood floors and a modern kitchen finished with premium granite countertops and a private patio-side eating area. The thoughtful layout includes a spacious living area with room for formal dining, a convenient guest half-bath, and a sprawling upper-level bathroom featuring a dual-vanity setup for the second bedroom. Surrounded by mature trees and lush

Key facts

• Eating area
• Updated kitchen
• Fenced common area

Tags

• UPDATED KITCHEN
• HARDWOOD FLOORS
• EXTRA LARGE MAIN BATHROOM
• EATING AREA
• FENCED COMMON AREA
• MATURE TREES

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with an annual fee of $300; HOA covers electricity, sewer, water, trash and structure maintenance; Gated community with parking; Sidewalks in the community

Exterior

• Parking: 2-car garage; Covered carport
• Utilities: Electricity available; Public water; Public sewer
• Home design: East-facing; 2 stories; Slab foundation
• Construction: Brick and wood siding with wood frame construction; Asphalt/fiberglass roof; Built (year per public records)
• Exterior features: Landscaped grounds; Patio; Decorative fencing; No safety shelter

Interior

• Kitchen: Dishwasher; Oven; Range; Stove; Refrigerator; Electric water heater
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Aluminum-framed, insulated windows; Storm door(s); High-speed internet access; Wired for data; Quartz and stone countertops; Pullman bath
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (8.3% below list).
• Recommended offer: $183k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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 soft (-0.3%/yr); 59 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 39% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (6.9% local appreciation)).
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.9% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $98k; list at $200k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $182,935 (8.3% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 0.92% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.55%
• DSCR: 1.16
• GRM: 9.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.88% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 2.31×
• Total profit: $73,309
• Equity at exit: $136,676

10-year hold

• IRR: 17.3%
• Equity multiple: 4.50×
• Total profit: $195,503
• Equity at exit: $258,211

Cash invested: $55,860 (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 74119

• Home prices YoY: 2.7%
• Rents YoY: -0.3%
• Active inventory: 59
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,829 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$126 /mo · $1,509/yr
• Insurance: −$83
• HOA: −$25
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $165

Break-even live

Break-even rent $1,620

Max offer price $199,500

Occupancy floor 86%

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 S Carson Ave Tulsa, OK	2.0	1.5	1100	$2,200	$2.00	23d	1	0.15mi
1717 Riverside Dr Tulsa, OK	2.0	1.0–2.0	910	$2,201	$2.42	1d	22	0.17mi
1816 S Carson Ave Tulsa, OK	1.0–2.0	1.0–2.0	702	$1,400	$1.99	2d	13	0.19mi
1401 S Elwood Ave Tulsa, OK	3.0	1.0	1373	$1,850	$1.35	23d	1	0.35mi
7125 N 220th RD Tulsa, OK	2.0	1.0–2.0	750	$2,800	$3.73	10d	37	0.37mi
120 E 21st St Tulsa, OK	1.0	1.5	1024	$1,700	$1.66	23d	1	0.45mi
1000 S Denver Ave Tulsa, OK	1.0–2.0	1.0–2.0	940	$1,546	$1.64	2d	19	0.62mi
1214 S Elgin Ave Unit 9 Tulsa, OK	1.0	1.0	1200	$950	$0.79	23d	1	0.69mi
1214 S Elgin Ave Unit 5 Tulsa, OK	2.0	1.0	1200	$1,450	$1.21	23d	1	0.69mi
1214 S Elgin Ave Unit 10 Tulsa, OK	1.0	1.0	1200	$1,000	$0.83	16d	1	0.69mi
119 E 26th St Tulsa, OK	3.0	2.0	1500	$2,200	$1.47	16d	1	0.70mi
1321 S Lawton Ave Tulsa, OK	2.0	2.0	1744	$1,623	$0.93	21d	1	0.74mi
1703 S Jackson Ave Tulsa, OK	1.0–2.0	1.0–2.0	745	$1,409	$1.89	23d	28	0.76mi
1703 S Jackson Ave Tulsa, OK	1.0–2.0	1.0–2.0	745	$1,375	$1.84	16d	1	0.76mi
1303 S Lawton Ave Tulsa, OK	2.0	2.0	1250	$1,575	$1.26	3d	1	0.76mi
767 W 13th St Tulsa, OK	1.0	1.0	1643	$1,195	$0.73	11d	1	0.76mi
1616 S Peoria Ave #4 Tulsa, OK	2.0	2.5	1688	$1,900	$1.13	23d	1	0.78mi
1435 S Peoria Ave Tulsa, OK	1.0	1.0	1000	$1,495	$1.50	23d	1	0.84mi
975 W 22nd Pl Tulsa, OK	1.0–3.0	1.0–2.5	1125	$1,292	$1.15	1d	1	0.86mi
1309 E 21st St Tulsa, OK	2.0	2.0	925	$1,250	$1.35	3d	2	0.87mi
1411 S Quaker Ave Tulsa, OK	2.0	1.5–2.5	1200	$2,049	$1.71	14d	2	0.92mi
6 E 5th St Unit 501 Tulsa, OK	1.0	1.0	958	$1,725	$1.80	21d	1	0.93mi
6 E 5th St Unit 703 Tulsa, OK	2.0	2.0	962	$1,731	$1.80	21d	1	0.93mi
6 E 5th St Unit 105 Tulsa, OK	2.0	2.0	1361	$2,450	$1.80	21d	1	0.93mi
6 E 5th St Tulsa, OK	1.0–2.0	1.0–2.0	1103	$2,500	$2.27	16d	4	0.93mi
420 S Main St Tulsa, OK	2.0	1.0–2.0	1291	$2,700	$2.09	2d	13	0.94mi
403 S Cheyenne Ave Tulsa, OK	2.0	1.0–2.0	750	$1,799	$2.40	1d	8	0.94mi
1428 S Quincy Ave Unit C Tulsa, OK	2.0	2.5	1756	$3,700	$2.11	3d	1	0.95mi
406 S Boulder Ave Tulsa, OK	1.0–2.0	1.0–2.0	1082	$2,906	$2.69	16d	3	0.95mi
324 S Main St Tulsa, OK	1.0–2.0	1.0–2.0	757	$1,807	$2.39	1d	6	1.00mi
9 E 4th St Tulsa, OK	3.0	1.0–2.0	894	$2,044	$2.29	1d	5	1.02mi
401 S Elgin Ave Tulsa, OK	1.0–2.0	1.0–2.0	770	$1,499	$1.95	23d	3	1.12mi
1201 S Rockford Ave Unit 7 Tulsa, OK	2.0	1.5	920	$875	$0.95	3d	1	1.14mi
1201 S Rockford Ave Unit 11 Tulsa, OK	2.0	1.5	920	$885	$0.96	23d	1	1.14mi
1610 E 14th St Tulsa, OK	1.0	1.0	1000	$1,000	$1.00	16d	1	1.20mi
624 S Peoria Ave Tulsa, OK	3.0	1.0–2.5	1521	$3,092	$2.03	1d	10	1.21mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1110	$2,870	$2.58	19d	5	1.28mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1226	$2,870	$2.34	2d	4	1.28mi
415 E 2nd St S Tulsa, OK	1.0–2.0	1.0–2.0	807	$2,180	$2.70	1d	28	1.30mi
211 S Greenwood Ave Tulsa, OK	1.0–2.0	1.0–2.0	933	$2,344	$2.51	2d	3	1.33mi

HOA detail condo

• Monthly dues: $25 · $300/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-02
   statusdays on market $199,500 Pending 47 DOM
2. 2026-06-01
   days on market $199,500 Active 46 DOM
3. 2026-05-31
   days on market $199,500 Active 45 DOM
4. 2026-04-16
   listed $199,500 Active
5. 2021-05-11
   soldstatus $97,500
6. 2000-08-23
   soldstatus $57,500

ⓘ 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: $1,509 · $126/mo
• Projected year-2 tax: $1,795 · $150/mo
• Expected delta: +$286/yr (+$24/mo · 19.0%)

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

Taxation est. · year 1

• Rental income: $21,952
• − Mortgage interest: −$11,175
• − Property taxes: −$1,509
• − Insurance: −$998
• − Repairs & maintenance: −$1,756
• − Management: −$1,756
• − HOA: −$300
• − Depreciation: −$5,804
• Taxable loss: −$1,345
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $2,304/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): 3,670
• Household income: $56,234
• Rent vs Own: 73.3% rent · 26.7% own
• Severe rent burden: 337.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 12% Black 7% Hispanic / Latino 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Lithuanian 2% Serbian 2%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 95% English-only · Spanish 3% Other Asian/Pacific 1% Chinese 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: ▲ 6.88%
• Current HPI: 261.8691
• Rent YoY: ▼ -0.35%
• 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

+247.0% since first listed

3 events — show timeline

• 2026-04-16 Listed $199,500 MLS Technology, Inc.
• 2021-05-11 Sold (Public Records) $97,500 Public Records
• 2000-08-23 Sold (Public Records) $57,500 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,509 · +8.6% YoY. Source: county tax records.