4640 E 68th St Unit 184 · Tulsa, OK 74136

$72,500

1 bd · 1.0 ba · 700 sqft · Condo · 216 Days on market

Built 1970

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Cash flow +4.3/30.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated first floor condo looking out at lovely courtyard on one side & swimming pool on other side. New: carpet, paint, step saver kitchen, W/ D & frig stay, ceiling fan, kitchen & bath flooring. Lots of light, huge closet. Stove & DW 2 yrs.

Key facts

• New furnace
• New hot water heater
• Updated kitchen

Tags

• UPDATED KITCHEN
• NEW FURNACE
• NEW AC
• NEW HOT WATER HEATER
• APPLIANCES IN GOOD CONDITION

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $72k.

Deal economics

• At list price, monthly cash flow is $-195 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $72k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 3.1% vs local median 3.8% in Tulsa — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: crime F, employment D-.
• Jenks (suburban): math 34% / reading 35% proficiency, ranked #27 of 270 in OK (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jenks East Es (math 29% / reading 20%, grade F, #354 of 845 statewide, top 47%, 1,443 students, 0% FRL); Jenks Ms (math 22% / reading 30%, grade F, #79 of 345 statewide, top 24%, 1,831 students, 0% FRL); Jenks Hs (math 40% / reading 49%, grade F, #15 of 447 statewide, top 4%, 3,547 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 173 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $501 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.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $34k; list at $72k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $63,800 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 216 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.16% ✓
• Cap rate: 3.07%
• Cash-on-cash: -11.51%
• DSCR: 0.49
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -42.2%
• Equity multiple: -0.27×
• Total profit: $-25,789
• Equity at exit: $10,810

10-year hold

• IRR: —
• Equity multiple: -1.21×
• Total profit: $-44,823
• Equity at exit: $6,268

Cash invested: $20,300 (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 74136

• Home prices YoY: -31.4%
• Rents YoY: 0.7%
• Active inventory: 173
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $842 medium
• Mortgage (P&I): −$380
• Tax est. 1.5%: −$91 /mo · $1,088/yr
• Insurance: −$30
• HOA est. from 7 same-building comps: −$359
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $-195

Break-even live

Break-even rent $1,089

Max offer price $44,324

Occupancy floor —

Sensitivity live

Price	-10% $-145	-5% $-170	+0% $-195	+5% $-220	+10% $-245
Rent	-10% $-261	-5% $-228	+0% $-195	+5% $-161	+10% $-128
Rate	-1.0pp $-158	-0.5pp $-176	base $-195	+0.5pp $-214	+1.0pp $-233

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: $18,125
• Closing costs: $2,175
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7110 S Granite Ave Tulsa, OK	2.0	1.0	675	$949	$1.41	3d	21	0.66mi
5808 E 71st St Tulsa, OK	1.0–2.0	1.0–2.0	800	$817	$1.02	3d	27	0.95mi
5202 E 81st St Tulsa, OK	1.0–3.0	1.0–2.0	1029	$969	$0.94	4d	38	1.43mi
5160 S Yale Ave Tulsa, OK	1.0–2.0	1.0–2.0	925	$775	$0.84	5d	6	1.47mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $72,500 Active 216 DOM
2. 2026-06-18
   days on market $72,500 Active 213 DOM
3. 2026-06-17
   days on market $72,500 Active 212 DOM
4. 2026-06-16
   days on market $72,500 Active 211 DOM
5. 2026-06-15
   days on market $72,500 Active 210 DOM
6. 2026-06-13
   days on market $72,500 Active 208 DOM
7. 2026-06-13
   days on market $72,500 Active 207 DOM
8. 2026-06-10
   days on market $72,500 Active 205 DOM
9. 2026-06-09
   days on market $72,500 Active 204 DOM
10. 2026-06-08
    days on market $72,500 Active 203 DOM
11. 2026-06-07
    days on market $72,500 Active 202 DOM
12. 2026-06-05
    days on market $72,500 Active 199 DOM
13. 2026-06-03
    days on market $72,500 Active 198 DOM
14. 2026-06-02
    days on market $72,500 Active 197 DOM
15. 2026-06-01
    days on market $72,500 Active 196 DOM
16. 2026-05-31
    days on market $72,500 Active 195 DOM
17. 2025-11-13
    listed $72,500 Active
18. 2005-09-15
    soldstatus $33,500 266-char remark

    Show marketing remark (266 chars)

    Updated first floor condo looking out at lovely courtyard on one side & swimming pool on other side. New: carpet, paint, step saver kitchen, W/ D & frig stay, ceiling fan, kitchen & bath flooring. Lots of light, huge closet. Stove & DW 2 yrs.

19. 2005-08-29
    historical 266-char remark

    Show marketing remark (266 chars)

    Updated first floor condo looking out at lovely courtyard on one side & swimming pool on other side. New: carpet, paint, step saver kitchen, W/ D & frig stay, ceiling fan, kitchen & bath flooring. Lots of light, huge closet. Stove & DW 2 yrs.

20. 2005-06-16
    listed $35,000 266-char remark

    Show marketing remark (266 chars)

    Updated first floor condo looking out at lovely courtyard on one side & swimming pool on other side. New: carpet, paint, step saver kitchen, W/ D & frig stay, ceiling fan, kitchen & bath flooring. Lots of light, huge closet. Stove & DW 2 yrs.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $10,106
• − Mortgage interest: −$4,061
• − Property taxes: −$1,088
• − Insurance: −$362
• − Repairs & maintenance: −$808
• − Management: −$808
• − HOA: −$4,308
• − Depreciation: −$2,109
• Taxable loss: −$3,439
• Est. tax savings @ 24.0%: +$825
• After-tax cash flow: $-1,511/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: Jenks
• NCES district ID: 4015720
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $66,291
• Composite: 31.5/100
• National rank: #5973
• State rank: #27 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): 31,416
• Household income: $51,820
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2579.0

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 0.66)
• Race & ethnicity: White 55% Black 16% Two or more races 13% Hispanic / Latino 10% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 83% English-only · Spanish 8% Other Asian/Pacific 5% Other Indo-European 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: ▼ -98.51%
• Current HPI: 215.3642
• Rent YoY: ▲ 0.74%
• 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

+107.1% since first listed

4 events — show timeline

• 2025-11-13 Listed $72,500 Fizber.com
• 2005-09-15 Sold (MLS) $33,500 MLS Technology, Inc.
• 2005-08-29 Listing Removed — MLS Technology, Inc.
• 2005-06-16 Listed $35,000 MLS Technology, Inc.