1339 N Richmond Ave · Tulsa, OK 74115

$135,000

3 bd · 1.0 ba · 2,071 sqft · SingleFamily public records · 202 Days on market

Built 1940 0.48 ac lot Est $240k · 44% under

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.7/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Selling "as-is". Great investment opportunity. Property sits on 3 lots. Plenty of room to build additional properties.

Key facts

• 0.48 acre lot
• Built 1940
• Listed 202 days

Property features AI

Finance

• HOA & community: Sidewalks

Exterior

• Security: No safety shelter
• Utilities: Cable available; Electricity available; Natural gas available; Phone available; Public water; Public sewer
• Home design: Two-story home; Crawlspace foundation
• Construction: Wood siding; Wood frame construction; Asphalt/fiberglass roof; Built (per public records)
• Exterior features: Covered porch; Porch; Shed(s) / storage; Chain link, full privacy fencing; Corner lot; Mature trees; Faces west

Interior

• Kitchen: Dishwasher; Oven; Range
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air; Window unit(s) for cooling
• Interior features: Attic; High ceilings; High-speed internet available; Laminate countertops; Wired for data; Ceiling fan(s); Gas range/oven connections; Programmable thermostat; Aluminum-framed windows
• Laundry & utility: Washer hookup; Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 fast (+4.6%/yr); 86 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).
• This rent runs 39% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 + 4.6% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.07% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.01%
• DSCR: 1.45
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $240,236
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 N Quebec Ave	0.73mi	3/1.5	1,932 (-7%)	10mo	$224,000	$116	44
1030 N Urbana Ave	0.41mi	3/2.0	1,830 (-12%)	16mo	$178,000	$97	44

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $478
• Equity at exit: $20,129

10-year hold

• IRR: 11.4%
• Equity multiple: 1.95×
• Total profit: $35,924
• Equity at exit: $11,672

Cash invested: $37,800 (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 74115

• Home prices YoY: -9.7%
• Rents YoY: 4.6%
• Active inventory: 86
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,446 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$63 /mo · $757/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $315

Break-even live

Break-even rent $1,047

Max offer price $135,000

Occupancy floor 73%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 N Marion Ave Tulsa, OK	3.0	2.0	1405	$1,305	$0.93	16d	1	0.73mi
3531 E 4th St Tulsa, OK	3.0	2.0	1652	$1,745	$1.06	23d	1	1.36mi

Listing history 6 events

1. 2026-06-05
   statusdays on market $135,000 Pending 202 DOM
2. 2026-06-03
   days on market $135,000 Active 201 DOM
3. 2026-06-02
   days on market $135,000 Active 200 DOM
4. 2026-06-01
   days on market $135,000 Active 199 DOM
5. 2026-05-31
   days on market $135,000 Active 198 DOM
6. 2025-11-13
   listed $135,000 Active

ⓘ 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: $757 · $63/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$458/yr (+$38/mo · 60.5%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $17,355
• − Mortgage interest: −$7,562
• − Property taxes: −$757
• − Insurance: −$675
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$3,927
• Taxable income: $1,657
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $3,385/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): 24,297
• Household income: $44,608
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 805.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 44% White 33% Two or more races 19% Black 13% Native American 5%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 19% · Canada
• Languages at home: 57% English-only · Spanish 42%

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: ▼ -26.82%
• Current HPI: 251.0869
• Rent YoY: ▲ 4.57%
• 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

1 event — show timeline

• 2025-11-13 Listed $135,000 MLS Technology, Inc.

Property tax history

+1.3%/yr

Latest (2025): $757 · +7.2% YoY. Source: county tax records.