6737 S Peoria Ave Unit B109

Tulsa, OK 74136

$55,000D

1 bd · 1.0 ba · 673 sqft · Built 1982 · Condo · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $800/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$257
• Vac / Maint / Mgmt: −$168
• Net cashflow: $-5/mo
• Annual: $-64/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• 1% rule: 1.45%
• Cash to close: $15,400

Investor read

• This is a 1-bed/1.0-bath condo listed at $55k. Condition is rated fair.
• At list price, monthly cash flow is $-5 ($-64/yr) — negative.
• To cash-flow at today's rent, offer at most $54k (1.4% below list).
• Meets the 1% rule at list price ($800 rent vs $55k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $54k (1.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• 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-.
• 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.
• Zoned schools: Project Accept Traice Es (math 10% / reading 10%, grade F, #695 of 845 statewide, top 84%, 558 students, 0% FRL); Monroe Demonstration Ms (math 0% / reading 2%, grade F, #344 of 345 statewide, top 100%, 688 students, 0% FRL); Booker T. Washington Hs (math 41% / reading 61%, grade D+, #2 of 447 statewide, top 0%, 1,280 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: HOA is 32% of rent.
• Market conditions: Rents flat; 173 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 3.8% 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?

Repairs flagged (vision-AI assessment)

• Major: Carpet — Severe wear and dirt accumulation.
• Major: Paint — Chipped and worn in some areas.