517 S Independence St · Sapulpa, OK 74066

$65,000

3 bd · 1.0 ba · 1,232 sqft · SingleFamily public records · 16 Days on market

Built 1923 7,501 sqft lot ↓ 13% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment Opportunity! Calling all investors—this as-is property is priced to sell and packed with potential for renovation, rental income, or resale. Bring your vision and unlock its full value. The seller will make no repairs, and the price has been adjusted to reflect the work needed throughout the home. Property requires TLC inside and out. Buyer to verify all information.

Key facts

• 7,501 sq ft lot
• Built 1923
• Listed 16 days

Property features AI

Finance

• Other: Annual tax amount listed (financial details excluded per instructions)

Exterior

• Parking: Parking details not provided
• Security: No safety shelter
• Utilities: Public water; Public sewer
• Home design: Single-story; Faces south; Crawlspace foundation
• Construction: Concrete and wood siding construction; Year built reported by owner
• Exterior features: Balcony; Chain link fencing; No additional exterior features listed

Interior

• Kitchen: Convection oven; Oven; Range / Stove
• Bedrooms: One bedroom on the first level with walk-in closet (no en-suite bath)
• Flooring: Hardwood
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Hardwood flooring; Laminate countertops; Ceiling fan(s)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $624 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.8% vs local median 2.8% in Sapulpa — 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 67/100 on livability (#88 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Sapulpa (suburban): math 23% / reading 24% proficiency, ranked #129 of 270 in OK (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 196 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 193 units permitted in Creek County in 2024 (76 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.00% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.17%
• DSCR: 2.83
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $177,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 S Independence St	0.00mi	2/1.0 (-1)	1,230 (-0%)	1mo	$57,000	$46	94
303 W Mckinley Ave	0.17mi	3/2.0	1,260 (+2%)	6mo	$187,500	$149	79
706 S Oklahoma St	0.17mi	3/2.0	1,301 (+6%)	4mo	$233,000	$179	75
512 S Poplar St	0.24mi	3/1.5	1,133 (-8%)	1mo	$95,000	$84	72
910 S Diane St	0.33mi	3/1.5	1,164 (-6%)	6mo	$162,500	$140	69
609 S Poplar St	0.29mi	2/2.0 (-1)	1,268 (+3%)	6mo	$209,900	$166	68
720 S Hickory St	0.16mi	3/1.5	1,400 (+14%)	0mo	$185,000	$132	67
135 W Mill Ave	0.57mi	3/1.0	1,131 (-8%)	1mo	$181,000	$160	59
719 S Muskogee St	0.22mi	2/1.0 (-1)	1,056 (-14%)	4mo	$32,000	$30	58
217 E Bryan Ave	0.54mi	3/2.0	1,332 (+8%)	0mo	$215,000	$161	57
618 S Walnut St	0.70mi	3/2.0	1,343 (+9%)	3mo	$193,000	$144	46
110 W Mill Ave	0.62mi	3/1.5	1,075 (-13%)	5mo	$150,000	$140	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 2.61×
• Total profit: $29,224
• Equity at exit: $9,692

10-year hold

• IRR: 44.2%
• Equity multiple: 5.21×
• Total profit: $76,614
• Equity at exit: $5,620

Cash invested: $18,200 (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 74066

• Home prices YoY: -26.3%
• Active inventory: 196
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,298 high
• Mortgage (P&I): −$341
• Tax from tax record: −$33 /mo · $400/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $624

Break-even live

Break-even rent $508

Max offer price $65,000

Occupancy floor 47%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 S Water St Sapulpa, OK	3.0	1.0	1166	$1,300	$1.11	10d	1	0.41mi
405 S Maple St Unit F Sapulpa, OK	2.0	1.0	1280	$955	$0.75	1d	1	0.82mi
405 S Maple St Unit F Sapulpa, OK	2.0	1.0	1280	$955	$0.75	15d	1	0.82mi
925 E Thompson Ave Sapulpa, OK	3.0	1.0	1416	$1,450	$1.02	10d	1	1.10mi
925 E Thompson Ave Sapulpa, OK	3.0	1.0	1416	$1,450	$1.02	1d	1	1.10mi
919 S Mission St Sapulpa, OK	2.0–3.0	1.0–2.0	950	$1,125	$1.18	1d	2	1.24mi
310 N Division St Sapulpa, OK	3.0	2.0	1237	$1,300	$1.05	15d	1	1.31mi

Listing history 7 events

1. 2026-04-22
   status Pending
2. 2026-04-15
   status Active
3. 2026-04-15
   price $65,000
4. 2026-04-14
   status Pending
5. 2026-04-08
   status Active
6. 2026-04-05
   status Pending
7. 2026-04-01
   listed $75,000 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: $400 · $33/mo
• Projected year-2 tax: $585 · $49/mo
• Expected delta: +$185/yr (+$15/mo · 46.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,580
• − Mortgage interest: −$3,641
• − Property taxes: −$400
• − Insurance: −$325
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − Depreciation: −$1,891
• Taxable income: $6,830
• Est. tax owed @ 24.0%: −$1,639
• After-tax cash flow: $5,853/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: Sapulpa
• NCES district ID: 4026910
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 24% ▼ -12.00%
• Median HH income: $44,536
• Composite: 20.29/100
• National rank: #8616
• State rank: #129 of 270 in OK

Livability — Sapulpa

• Score: 67/100
• State rank: #88
• US rank: #10676

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sapulpa, OK
• County: Creek County · 32,292 people
• City population: 32,292
• Metro: Tulsa, OK
• Population (ZIP): 32,292
• Household income: $64,698
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 716.0

Population outlook (Creek County) Hauer SSP2

• Today (2025): 72,706 people
• By 2030: 73,032 · +0.4%
• By 2040: 72,788 · +0.1%
• By 2050: 71,558 · -1.6%
• By 2075: 69,248 · -4.8%
• By 2100: 62,722 · -13.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Native American 12% Two or more races 9% Hispanic / Latino 6% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Creek

• 2024 margin: Solid R (+55.7) · D 21.2% · R 77.0% · Other 1.8%
• 2008→2024 swing: -14.1pp toward R · 2008: -41.6pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+54.8 2016: R+54.5 2012: R+45.4 2008: R+41.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.18%
• Current HPI: 250.2859
• Rent YoY: —
• 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

-13.3% since first listed

7 events — show timeline

• 2026-04-22 Pending — MLS Technology, Inc.
• 2026-04-15 Relisted — MLS Technology, Inc.
• 2026-04-15 Price Changed $65,000 MLS Technology, Inc.
• 2026-04-14 Pending — MLS Technology, Inc.
• 2026-04-08 Relisted — MLS Technology, Inc.
• 2026-04-05 Pending — MLS Technology, Inc.
• 2026-04-01 Listed $75,000 MLS Technology, Inc.

Property tax history

+4.3%/yr

Latest (2025): $400 · +2.8% YoY. Source: county tax records.