5001 S Ironwood Ave

Broken Arrow, OK 74012

$254,900D-

4 bd · 2.0 ba · 1,448 sqft · Built 1983 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,968/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$260
• HOA: −$0
• Vac / Maint / Mgmt: −$413
• Net cashflow: $-42/mo
• Annual: $-503/yr
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• 1% rule: 0.77%
• Cash to close: $71,372

Investor read

• This is a 4-bed/2.0-bath single-family listed at $255k.
• At list price, monthly cash flow is $-42 ($-503/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (22.8% below list).
• It's been on market 22 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $197k (22.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#7 in OK, #2,691 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Broken Arrow (suburban): math 23% / reading 28% proficiency, ranked #79 of 270 in OK (top 29%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Aspen Creek Es (math 23% / reading 22%, grade F, #409 of 845 statewide, top 49%, 628 students, 0% FRL); Childers Ms (math 16% / reading 28%, grade F, #129 of 345 statewide, top 42%, 796 students, 0% FRL); Broken Arrow Hs (math 22% / reading 36%, grade F, #120 of 447 statewide, top 27%, 4,589 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.9%/yr); 446 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 5 sale attempts since 35y 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 $64k; list at $255k implies a 298% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 6.1% vs local median 4.1% in Broken Arrow — 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• 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.