421 NW 81st St · Oklahoma City, OK 73114

$115,000

3 bd · 2.0 ba · 912 sqft · SingleFamily public records · 1 Days on market

Built 1963 7,000 sqft lot Est $136k · 15% under

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Why this score? — see what drove the C+ 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 +25.1/30.0
• ARV discount +14.4/15.0
• DSCR +8.2/10.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Price! A great bargain and a great investor property. Square footage breakdown: Converted garage, 336 sf, House, 912 sf, 'as is' condition.

Key facts

• Garage conversion
• Fenced yard
• Covered patio

Tags

• GARAGE CONVERSION
• FENCED YARD
• COVERED PATIO

Property features AI

Finance

• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Utilities: Electricity available; Natural gas available; Public water/sewer
• Home design: Single family residence; One level; South-facing
• Construction: Brick and frame construction; Composition roof; Slab foundation; Existing property
• Exterior features: Covered patio; Chain link fence; Interior lot

Interior

• Kitchen: Dishwasher; Refrigerator; Electric freestanding range/oven
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Two living areas; Inside utility; Eating space off the kitchen; No fireplace
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Cap rate 8.9% 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: Nichols Hills Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 494 students, 0% FRL); John Marshall Hs (math 2% / reading 8%, grade F, #430 of 447 statewide, top 99%, 829 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 (+3.5%/yr); 145 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $795 of loan paydown is wiped out by about $3k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y 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 $40k; list at $115k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1963 — 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. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.49%
• DSCR: 1.42
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $135,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 NW 81st St	0.03mi	3/1.5	951 (+4%)	10mo	$120,000	$126	81
305 NW 82nd St	0.16mi	3/1.5	928 (+2%)	18mo	$137,500	$148	73
728 NW 87th St	0.44mi	2/1.0 (-1)	894 (-2%)	0mo	$135,000	$151	67
321 NW 79th St	0.17mi	3/1.5	940 (+3%)	23mo	$139,900	$149	65
112 NW 82nd St	0.39mi	2/1.0 (-1)	933 (+2%)	9mo	$134,000	$144	61
740 NW 87th St	0.46mi	2/2.0 (-1)	974 (+7%)	2mo	$160,000	$164	60
317 NW 85th St	0.29mi	3/1.5	1,038 (+14%)	11mo	$160,000	$154	52
904 Westchester Dr	0.73mi	3/1.0	980 (+8%)	1mo	$155,000	$158	48
217 NW 88th St	0.53mi	3/2.0	1,043 (+14%)	9mo	$139,500	$134	44
606 NW 91st St	0.63mi	3/1.0	960 (+5%)	23mo	$132,000	$138	38
741 NW 90th St	0.65mi	2/1.0 (-1)	976 (+7%)	21mo	$98,000	$100	31
708 NW 91st St	0.66mi	2/1.0 (-1)	1,042 (+14%)	22mo	$159,900	$153	18

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 · 3.47% rent growth · sell at horizon

5-year hold

• IRR: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,875
• Equity at exit: $17,147

10-year hold

• IRR: 8.6%
• Equity multiple: 1.67×
• Total profit: $21,516
• Equity at exit: $9,943

Cash invested: $32,200 (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 73114

• Home prices YoY: -12.5%
• Rents YoY: 3.5%
• Active inventory: 145
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,223 high
• Mortgage (P&I): −$603
• Tax from tax record: −$60 /mo · $723/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $255

Break-even live

Break-even rent $900

Max offer price $115,000

Occupancy floor 74%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1025 NW 86th St Oklahoma City, OK	2.0	1.5	1100	$1,000	$0.91	43d	1	0.55mi
745 NW 89th St Oklahoma City, OK	3.0	1.0	1000	$1,275	$1.27	1d	1	0.60mi
333 NW 90th St Oklahoma City, OK	3.0	1.5	1053	$1,350	$1.28	43d	1	0.63mi
9111 N Walker Ave Oklahoma City, OK	3.0	1.5	1092	$1,195	$1.09	1d	1	0.63mi
1133 NW 84th St Oklahoma City, OK	3.0	1.0	884	$1,150	$1.30	23d	1	0.65mi
1214 NW 81st St Oklahoma City, OK	3.0	1.0	1100	$1,350	$1.23	1d	1	0.74mi
8500 N Oklahoma Ave Oklahoma City, OK	3.0	1.0–2.0	954	$2,503	$2.62	1d	23	0.74mi
413 W Britton Rd Oklahoma City, OK	2.0	1.0	912	$840	$0.92	20d	1	0.87mi
413 W Britton Rd Oklahoma City, OK	2.0	1.0	912	$840	$0.92	23d	1	0.87mi
1016 NW 67th St Oklahoma City, OK	2.0	1.0–2.0	708	$2,395	$3.38	1d	6	1.03mi
701 E Wilshire Blvd Oklahoma City, OK	1.0–3.0	1.0	850	$1,029	$1.21	2d	3	1.15mi
1435 NW 91st St Oklahoma City, OK	2.0	1.5	1090	$1,000	$0.92	43d	1	1.18mi
1434 NW 92nd St Unit 3 Oklahoma City, OK	2.0	1.5	950	$915	$0.96	43d	1	1.20mi
911 NW 98th St Oklahoma City, OK	3.0	1.0	1122	$1,100	$0.98	1d	1	1.23mi
1441 NW 92nd St Oklahoma City, OK	1.0–2.0	1.0	725	$850	$1.17	43d	1	1.23mi
1425 NW 94th St Oklahoma City, OK	2.0	1.0	816	$795	$0.97	21d	1	1.31mi
1417 NW 95th St Oklahoma City, OK	2.0	1.0	916	$1,085	$1.18	23d	1	1.34mi
1025 Hoyt Ave Oklahoma City, OK	4.0	1.0	884	$1,150	$1.30	11d	1	1.39mi
910 NW 101st St Oklahoma City, OK	3.0	1.0	1100	$1,400	$1.27	1d	1	1.41mi

Listing history 2 events

1. 2026-06-19
   remarks 208-char remark
2. 2026-06-19
   listed $115,000 Active 1 DOM

ⓘ 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: $723 · $60/mo
• Projected year-2 tax: $1,035 · $86/mo
• Expected delta: +$312/yr (+$26/mo · 43.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,671
• − Mortgage interest: −$6,442
• − Property taxes: −$723
• − Insurance: −$575
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$3,345
• Taxable income: $1,238
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $2,757/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): 17,656
• Household income: $54,936
• Rent vs Own: 65.5% rent · 34.5% own
• Severe rent burden: 1035.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 41% White 29% Hispanic / Latino 20% Two or more races 12% Native American 3%
• Hispanic origin (detail): Mexican 16% Puerto Rican 1%
• Common ancestry: Russian 1% Slovak 1% Italian 1%
• Foreign-born: 12% · Canada, Jamaica
• Languages at home: 78% English-only · Spanish 18%

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: ▼ -44.26%
• Current HPI: 310.4705
• Rent YoY: ▲ 3.47%
• 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

+144.7% since first listed

9 events — show timeline

• 2026-06-13 Listed $115,000 MLSOK
• 2011-02-12 Listing Removed — MLSOK
• 2010-02-11 Listed $42,500 MLSOK
• 2005-09-12 Sold (MLS) $39,500 MLSOK
• 2005-06-24 Listed $41,500 MLSOK
• 2001-02-05 Sold (Public Records) $46,000 Public Records
• 2001-02-05 Sold (Public Records) $46,000 Public Records
• 1992-10-02 Sold (Public Records) $14,700 Public Records
• 1992-04-13 Sold (Public Records) $47,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $723 · +4.2% YoY. Source: county tax records.