2140 NW 32nd St · Oklahoma City, OK 73112

$135,000

2 bd · 1.0 ba · 794 sqft · SingleFamily public records · 61 Days on market

Built 1940 7,000 sqft lot $170/sqft · 5% below area Est $143k · 5% under ↓ 4% since listing

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Why this score? — see what drove the D 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 +14.6/30.0
• ARV discount +9.9/15.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath home built in 1940 with 794 square feet of efficient living space. This home features a comfortable living and dining area, refinished original hardwood floors, and fresh interior paint. The kitchen includes a new gas stove. Major updates in 2026 include central heat and air and a hot water tank. Spacious backyard with room to enjoy or customize. Conveniently located near shopping, highways, and medical facilities.

Key facts

• Hot water tank
• Spacious backyard
• Central heat and air

Tags

• NEW GAS STOVE
• CENTRAL HEAT AND AIR
• HOT WATER TANK
• SPACIOUS BACKYARD

Property features AI

Finance

• Financial info: Listing terms: Cash or Conventional
• HOA & community: No mandatory association dues

Exterior

• Utilities: Electricity available; Natural gas available; Public utilities
• Home design: Single family residence; One-level home; North-facing
• Construction: Frame and stone construction; Composition roof; Built (existing property)
• Exterior features: Open patio; Combination fencing; Interior lot

Interior

• Kitchen: Free-standing gas range and oven
• Bedrooms: 2 bedrooms
• Flooring: Tile flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Interior features: Ceiling fan(s)
• Laundry & utility: Conventional foundation

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $33 ($395/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 $110k (18.6% below list).
• Recommended offer: $110k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.7% in Oklahoma City — 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 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cleveland Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 405 students, 0% FRL); Taft Ms (math 2% / reading 5%, grade F, #330 of 345 statewide, top 96%, 1,045 students, 0% FRL); Northwest Classen Hs (math 5% / reading 10%, grade F, #420 of 447 statewide, top 95%, 1,702 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.8%/yr); 197 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

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.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($127k) 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,841 (18.6% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 19% 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. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 10.2

CMA / ARV

• ARV (median comp): $142,657
• List price: $135,000
• Delta: -5.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2144 NW 32nd St	0.01mi	2/1.0	700 (-12%)	10mo	$124,900	$178	72
2108 NW 38th St	0.48mi	2/1.0	816 (+3%)	3mo	$40,100	$49	71
2016 NW 29th St	0.29mi	2/1.0	864 (+9%)	1mo	$95,000	$110	71
2332 NW 36th St	0.40mi	2/1.0	754 (-5%)	4mo	$165,000	$219	69
2117 NW 34th St	0.17mi	2/1.0	870 (+10%)	8mo	$90,000	$103	69
2025 NW 30th St	0.21mi	2/1.0	728 (-8%)	12mo	$175,000	$240	66
2331 NW 31st St	0.23mi	2/1.0	900 (+13%)	4mo	$160,000	$178	64
2252 NW 37th St	0.41mi	2/1.0	720 (-9%)	10mo	$143,500	$199	57
2432 NW 36th St	0.48mi	2/1.0	875 (+10%)	7mo	$104,000	$119	55
1821 NW 35th St	0.46mi	2/1.0	889 (+12%)	7mo	$166,000	$187	53
1612 NW 36th St	0.66mi	2/1.0	868 (+9%)	4mo	$137,500	$158	50
1608 NW 36th St	0.67mi	2/1.0	899 (+13%)	4mo	$137,500	$153	43

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 · 4.8% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-17,797
• Equity at exit: $20,129

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-4,353
• 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 73112

• Rents YoY: 4.8%
• Active inventory: 197
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,098 high
• Mortgage (P&I): −$708
• Tax from tax record: −$71 /mo · $847/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $33

Break-even live

Break-even rent $1,057

Max offer price $135,000

Occupancy floor 92%

Sensitivity live

Price	-10% $109	-5% $71	+0% $33	+5% $-5	+10% $-43
Rent	-10% $-54	-5% $-10	+0% $33	+5% $76	+10% $120
Rate	-1.0pp $101	-0.5pp $67	base $33	+0.5pp $-2	+1.0pp $-38

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2136 NW 32nd St Oklahoma City, OK	2.0	1.0	806	$925	$1.15	23d	1	0.04mi
2220 NW 32nd St Oklahoma City, OK	2.0	1.0	850	$1,300	$1.53	23d	1	0.05mi
2212 NW 31st St Oklahoma City, OK	2.0	1.0	810	$995	$1.23	0d	1	0.09mi
2100 NW 33rd St Oklahoma City, OK	2.0	1.0	1004	$1,245	$1.24	4d	1	0.13mi
2037 NW 32nd Ter Oklahoma City, OK	2.0	1.5	1053	$1,100	$1.04	45d	1	0.17mi
2042 NW 34th St Oklahoma City, OK	2.0	1.0	968	$1,050	$1.08	13d	1	0.20mi
2022 NW 33rd St Oklahoma City, OK	3.0	1.0	936	$1,150	$1.23	18d	1	0.20mi
2132 NW 29th St Unit 2134 Oklahoma City, OK	2.0	1.0	850	$1,000	$1.18	16d	1	0.26mi
2140 NW 36th St Oklahoma City, OK	3.0	1.0	829	$1,400	$1.69	45d	1	0.31mi
2400 NW 30th St Oklahoma City, OK	2.0	2.0	1078	$1,289	$1.20	45d	1	0.35mi
2400 NW 36th St Oklahoma City, OK	2.0	1.0	950	$1,100	$1.16	45d	1	0.37mi
2400 NW 30th St Oklahoma City, OK	1.0–2.0	1.0–2.0	801	$1,279	$1.60	4d	11	0.39mi
2502 NW 35th St Unit 3S Oklahoma City, OK	1.0	1.0	600	$750	$1.25	0d	1	0.43mi
2502 NW 35th St Unit 3S Oklahoma City, OK	1.0	1.0	600	$750	$1.25	25d	1	0.43mi
1731 NW 32nd St Unit 11 Oklahoma City, OK	2.0	1.0	1000	$850	$0.85	25d	1	0.46mi
2037 NW 26th St Oklahoma City, OK	1.0–2.0	1.0	550	$750	$1.36	5d	1	0.47mi
2024 NW 26th St Oklahoma City, OK	2.0	1.0	947	$1,099	$1.16	45d	1	0.51mi
3816 Putnam Heights Blvd Oklahoma City, OK	2.0	1.0	895	$1,250	$1.40	0d	1	0.51mi
3915 N Pennsylvania Ave Oklahoma City, OK	2.0	2.0	1065	$1,495	$1.40	45d	1	0.53mi
2021 NW 25th St Unit 5 Oklahoma City, OK	1.0	1.0	582	$695	$1.19	25d	1	0.54mi
2021 NW 25th St Unit 15 Oklahoma City, OK	1.0	1.0	582	$725	$1.25	45d	1	0.54mi
2021 NW 25th St Unit 4 Oklahoma City, OK	1.0	1.0	582	$695	$1.19	18d	1	0.55mi
1820 NW 37th St Oklahoma City, OK	2.0	1.0	1104	$1,475	$1.34	0d	1	0.56mi
2042 NW 25th St Unit 17E Oklahoma City, OK	2.0	1.0	725	$750	$1.03	45d	1	0.57mi
2030 NW 25th St Unit 17 Oklahoma City, OK	2.0	1.0	725	$750	$1.03	6d	1	0.58mi
2030 NW 25th St Unit 1 Oklahoma City, OK	2.0	1.0	725	$750	$1.03	45d	1	0.58mi
2030 NW 25th St Unit 4 Oklahoma City, OK	2.0	1.0	725	$750	$1.03	45d	1	0.58mi
2424 NW 39th St Oklahoma City, OK	2.0	1.0–1.5	787	$850	$1.08	0d	7	0.58mi
1601 NW 30th St Oklahoma City, OK	2.0	1.0–2.0	698	$999	$1.43	25d	13	0.60mi
2442 NW 39th St Oklahoma City, OK	2.0	1.0	775	$850	$1.10	22d	1	0.65mi
1605 NW 29th St Oklahoma City, OK	2.0	1.0	885	$995	$1.12	45d	1	0.65mi
1607 NW 29th St Oklahoma City, OK	2.0	1.0	885	$850	$0.96	25d	1	0.66mi
2517 NW 38th St Oklahoma City, OK	3.0	1.0	1000	$1,225	$1.23	6d	1	0.71mi
2517 NW 38th St Oklahoma City, OK	3.0	1.0	1000	$1,225	$1.23	25d	1	0.71mi
2416 NW 40th St Oklahoma City, OK	3.0	1.5	814	$1,300	$1.60	25d	1	0.76mi
1446 NW 31st St Unit A Oklahoma City, OK	2.0	1.0	1000	$985	$0.98	4d	1	0.76mi
1446 NW 31st St Unit B Oklahoma City, OK	1.0	1.0	600	$775	$1.29	25d	1	0.76mi
1446 NW 31st St Unit B Oklahoma City, OK	2.0	1.0	900	$1,040	$1.16	45d	1	0.76mi
2477 NW 40th St Oklahoma City, OK	2.0	1.0	1011	$1,150	$1.14	45d	1	0.82mi
4211 N Youngs Blvd Unit 217 Oklahoma City, OK	2.0	2.0	1100	$1,050	$0.95	5d	1	0.82mi

Listing history 16 events

1. 2026-06-21
   days on market $135,000 Active 61 DOM
2. 2026-06-18
   days on market $135,000 Active 58 DOM
3. 2026-06-17
   days on market $135,000 Active 57 DOM
4. 2026-06-16
   days on market $135,000 Active 56 DOM
5. 2026-06-15
   days on market $135,000 Active 55 DOM
6. 2026-06-13
   days on market $135,000 Active 53 DOM
7. 2026-06-09
   days on market $135,000 Active 49 DOM
8. 2026-06-08
   days on market $135,000 Active 48 DOM
9. 2026-06-07
   days on market $135,000 Active 47 DOM
10. 2026-06-05
    days on market $135,000 Active 44 DOM
11. 2026-06-03
    days on market $135,000 Active 43 DOM
12. 2026-06-02
    days on market $135,000 Active 42 DOM
13. 2026-06-01
    days on market $135,000 Active 41 DOM
14. 2026-05-31
    days on market $135,000 Active 40 DOM
15. 2026-05-12
    price $135,000 445-char remark
16. 2026-04-21
    listed $140,000 Active 445-char remark

ⓘ 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: $847 · $71/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$368/yr (+$31/mo · 43.4%)

ⓘ 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 ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,181
• − Mortgage interest: −$7,562
• − Property taxes: −$847
• − Insurance: −$675
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$3,927
• Taxable loss: −$1,940
• Est. tax savings @ 24.0%: +$466
• After-tax cash flow: $861/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: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• County: Oklahoma County · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 30,372
• Household income: $58,419
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1555.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 55% Hispanic / Latino 18% Black 13% Two or more races 12% Asian 4% Native American 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -283.17%
• Current HPI: 253.682
• Rent YoY: ▲ 4.80%
• Metro: Oklahoma City, 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

-3.6% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $135,000 MLSOK
• 2026-04-21 Listed $140,000 MLSOK

Property tax history

+5.5%/yr

Latest (2025): $847 · +4.2% YoY. Source: county tax records.