1224 Carter Dr · Oklahoma City, OK 73129

$95,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records

Built 1954 7,078 sqft lot Est $101k · 6% under

---

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
• ARV discount +10.2/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Appreciation +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0

Listing remarks

Property went under contract during the processing. Entered for comps only.

Key facts

• 7,078 sq ft lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $375 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 11.0% 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.
• Crooked Oak (urban): math 8% / reading 10% proficiency, ranked #260 of 270 in OK (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Central Oak Es (math 14% / reading 11%, grade F, #648 of 845 statewide, top 77%, 554 students, 0% FRL); Crooked Oak Hs (math 2% / reading 8%, grade F, #430 of 447 statewide, top 99%, 356 students, 0% FRL) — zoned schools average 0% FRL vs 90% district-wide (90 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 83 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 31% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($657 loan paydown + $2k appreciation (1.8% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $95,000

Questions for the listing agent

1. Built in 1954 — 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: 1.28% ✓
• Cap rate: 11.03%
• Cash-on-cash: 16.91%
• DSCR: 1.75
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $101,088
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1224 Carter Dr	0.00mi	3/1.0	864 (0%)	1mo	$95,000	$110	99
1156 SE 19th Ter	0.11mi	3/1.0	936 (+8%)	8mo	$85,000	$91	75
1209 Carter Dr	0.05mi	4/1.0 (+1)	852 (-1%)	23mo	$100,000	$117	71
1635 S Everest Ave	0.31mi	2/1.0 (-1)	736 (-15%)	5mo	$70,000	$95	52
1912 S High Ave	0.35mi	2/1.0 (-1)	768 (-11%)	12mo	$110,000	$143	50
640 SE 20th St	0.69mi	2/1.0 (-1)	816 (-6%)	5mo	$104,000	$127	50
1148 SE 23rd St	0.25mi	3/1.5	966 (+12%)	21mo	$110,000	$114	49
726 SE 18th St	0.59mi	3/1.0	910 (+5%)	21mo	$109,100	$120	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 2.10×
• Total profit: $29,146
• Equity at exit: $36,177

10-year hold

• IRR: 22.9%
• Equity multiple: 3.94×
• Total profit: $78,332
• Equity at exit: $51,119

Cash invested: $26,600 (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 73129

• Home prices YoY: 0.7%
• Active inventory: 83
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$498
• Tax from tax record: −$47 /mo · $567/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $375

Break-even live

Break-even rent $741

Max offer price $95,000

Occupancy floor 64%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
726 SE 20th St Oklahoma City, OK	2.0	1.0	672	$1,095	$1.63	44d	1	0.60mi
630 SE 21st St Oklahoma City, OK	3.0	2.0	1000	$1,095	$1.09	44d	1	0.72mi
526 SE 21st St Oklahoma City, OK	3.0	1.0	1054	$1,150	$1.09	4d	1	0.81mi
709 SE 10th St Oklahoma City, OK	2.0	1.0	864	$995	$1.15	4d	1	0.88mi
407 SE 25th St Oklahoma City, OK	3.0	1.0	896	$1,275	$1.42	44d	1	1.00mi
2117 SE 12th St Oklahoma City, OK	2.0	1.0	816	$895	$1.10	4d	1	1.01mi
317 SE 24th St Oklahoma City, OK	2.0	1.0	917	$950	$1.04	4d	1	1.05mi
1413 SE 39th St Oklahoma City, OK	3.0	1.0	1004	$1,125	$1.12	44d	1	1.34mi

Listing history 2 events

1. 2026-05-05
   historical
2. 2026-05-01
   listed $95,000

ⓘ 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: $567 · $47/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$288/yr (+$24/mo · 50.9%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,580
• − Mortgage interest: −$5,321
• − Property taxes: −$567
• − Insurance: −$475
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$2,764
• Taxable income: $3,120
• Est. tax owed @ 24.0%: −$749
• After-tax cash flow: $3,749/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: Crooked Oak
• NCES district ID: 4009060
• Math proficiency: 8% ▼ -10.00%
• Reading proficiency: 10% ▼ -11.00%
• Median HH income: $25,479
• Composite: 6.45/100
• National rank: #9997
• State rank: #260 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): 20,014
• Household income: $46,670
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 611.0

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 0.61)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 26% White 26% Black 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 24% · Canada, Dominican Republic
• Languages at home: 54% English-only · Spanish 44% Other Asian/Pacific 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: ▲ 1.75%
• Current HPI: 250.8581
• Rent YoY: —
• 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

2 events — show timeline

• 2026-05-05 Listing Removed — MLSOK
• 2026-05-01 Listed $95,000 MLSOK

Property tax history

+5.5%/yr

Latest (2025): $567 · +5.0% YoY. Source: county tax records.