728 E 33rd St N · Tulsa, OK 74106

$190,000

4 bd · 1.0 ba · 936 sqft · SingleFamily public records · 93 Days on market

Built 1954 7,200 sqft lot

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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 +15.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• 1% rule +2.9/10.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Listing remarks

Totally Remodeled Garage turned into Master bedroom, with full Bath. Kitchen superbly redone, original Hardwood floors done over.

Key facts

• Full bath
• Master bedroom
• Kitchen redone

Tags

• REMODELED GARAGE
• MASTER BEDROOM
• FULL BATH
• KITCHEN REDONE
• HARDWOOD FLOORS

Property features AI

Finance

• Other: Has home warranty
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security: Smoke detector(s); No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story home; North-facing; Crawlspace foundation
• Construction: Brick, Masonite, and wood frame construction; Asphalt/fiberglass roof; Built according to public records
• Exterior features: Deck; Partial chain link fencing

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Stove
• Bedrooms: Four bedrooms (all on the first level); Primary bedroom includes private bath and walk-in closet
• Flooring: Hardwood; Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Aluminum window frames; Quartz and stone counters; Ceiling fan(s); Gas range and gas oven connections; Other interior features
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $67 ($808/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 $150k (21.2% below list).
• Recommended offer: $150k (21.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.8% in Tulsa — 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 75/100 on livability (#13 in OK, #4,058 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Tulsa (urban): math 7% / reading 12% proficiency, ranked #250 of 270 in OK (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Project Accept Traice Es (math 10% / reading 10%, grade F, #695 of 845 statewide, top 84%, 558 students, 0% FRL); Monroe Demonstration Ms (math 0% / reading 2%, grade F, #344 of 345 statewide, top 100%, 688 students, 0% FRL); Booker T. Washington Hs (math 41% / reading 61%, grade D+, #2 of 447 statewide, top 0%, 1,280 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.5%/yr); 137 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 44% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $19k; list at $190k implies a 900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $149,740 (21.2% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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: 0.79% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $126,360
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3226 N Garrison Ave	0.17mi	3/1.0 (-1)	928 (-1%)	9mo	$136,000	$147	78
3318 N Garrison Ave	0.16mi	4/1.0	936 (0%)	20mo	$117,000	$125	76
3125 N Hartford Ave	0.21mi	3/1.0 (-1)	912 (-3%)	7mo	$134,000	$147	75
3232 N Hartford Ave	0.11mi	3/1.0 (-1)	912 (-3%)	13mo	$134,000	$147	75
711 E 32nd Pl N	0.04mi	3/1.0 (-1)	864 (-8%)	15mo	$50,000	$58	67
3723 N Lansing Pl	0.48mi	3/1.0 (-1)	935 (-0%)	9mo	$67,500	$72	65
3759 N Hartford Ave	0.50mi	3/1.0 (-1)	936 (0%)	13mo	$126,000	$135	61
3123 N Iroquois Ave	0.22mi	3/1.0 (-1)	888 (-5%)	21mo	$130,000	$146	58
247 E 27th Ct N	0.69mi	3/1.0 (-1)	977 (+4%)	10mo	$112,000	$115	47
2804 N Hartford Ave	0.51mi	3/1.0 (-1)	864 (-8%)	21mo	$20,000	$23	41
244 E 29th St N	0.63mi	3/1.0 (-1)	1,011 (+8%)	17mo	$150,000	$148	38

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 · 3.54% rent growth · sell at horizon

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-25,782
• Equity at exit: $28,330

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-13,937
• Equity at exit: $16,428

Cash invested: $53,200 (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 74106

• Home prices YoY: -2.5%
• Rents YoY: 3.5%
• Active inventory: 137
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,497 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$40 /mo · $481/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $67

Break-even live

Break-even rent $1,412

Max offer price $190,000

Occupancy floor 90%

Sensitivity live

Price	-10% $175	-5% $121	+0% $67	+5% $14	+10% $-40
Rent	-10% $-51	-5% $8	+0% $67	+5% $126	+10% $186
Rate	-1.0pp $163	-0.5pp $116	base $67	+0.5pp $18	+1.0pp $-32

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
238 E Young Pl Unit A Tulsa, OK	3.0	2.0	1020	$1,550	$1.52	17d	1	1.09mi
238 E Young Pl Unit B Tulsa, OK	3.0	2.0	1000	$1,700	$1.70	25d	1	1.09mi
4430 N Main St Tulsa, OK	3.0	1.0	1100	$950	$0.86	3d	1	1.29mi
4908 N Hartford Ave Tulsa, OK	3.0	1.0	900	$900	$1.00	3d	1	1.48mi

Listing history 18 events

1. 2026-06-22
   days on market $190,000 Active 93 DOM
2. 2026-06-18
   days on market $190,000 Active 90 DOM
3. 2026-06-17
   days on market $190,000 Active 89 DOM
4. 2026-06-16
   days on market $190,000 Active 88 DOM
5. 2026-06-15
   days on market $190,000 Active 87 DOM
6. 2026-06-13
   pricedays on market $190,000 Active 85 DOM
7. 2026-06-10
   days on market $210,000 Active 82 DOM
8. 2026-06-09
   days on market $210,000 Active 81 DOM
9. 2026-06-08
   days on market $210,000 Active 80 DOM
10. 2026-06-07
    days on market $210,000 Active 79 DOM
11. 2026-06-05
    days on market $210,000 Active 76 DOM
12. 2026-06-03
    days on market $210,000 Active 75 DOM
13. 2026-06-02
    days on market $210,000 Active 74 DOM
14. 2026-06-01
    days on market $210,000 Active 73 DOM
15. 2026-05-31
    days on market $210,000 Active 72 DOM
16. 2026-04-14
    price $210,000
17. 2026-03-17
    listed $215,000 Active
18. 1990-06-05
    soldstatus $19,000

ⓘ 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: $481 · $40/mo
• Projected year-2 tax: $1,710 · $142/mo
• Expected delta: +$1,229/yr (+$102/mo · 255.5%)

ⓘ 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 ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $17,969
• − Mortgage interest: −$10,643
• − Property taxes: −$481
• − Insurance: −$950
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$5,527
• Taxable loss: −$2,507
• Est. tax savings @ 24.0%: +$602
• After-tax cash flow: $1,410/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: Tulsa
• NCES district ID: 4030240
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 12% ▼ -7.00%
• Median HH income: $37,895
• Composite: 8.04/100
• National rank: #9919
• State rank: #250 of 270 in OK

Livability — Tulsa

• Score: 75/100
• State rank: #13
• US rank: #4058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulsa, OK
• County: Tulsa County · 640,811 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 15,655
• Household income: $40,776
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1055.0

Population outlook (Tulsa County) Hauer SSP2

• Today (2025): 723,846 people
• By 2030: 766,033 · +5.8%
• By 2040: 851,386 · +17.6%
• By 2050: 938,389 · +29.6%
• By 2075: 1,166,011 · +61.1%
• By 2100: 1,350,277 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Black 55% White 17% Hispanic / Latino 14% Two or more races 13% Native American 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Tulsa

• 2024 margin: R (+15.2) · D 41.3% · R 56.5% · Other 2.2%
• 2008→2024 swing: +9.2pp toward D · 2008: -24.5pp · 2024: -15.2pp
• All cycles: 2024: R+15.2 2020: R+15.6 2016: R+22.9 2012: R+27.4 2008: R+24.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.58%
• Current HPI: 179.5268
• Rent YoY: ▲ 3.54%
• 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

+1005.3% since first listed

3 events — show timeline

• 2026-04-14 Price Changed $210,000 MLS Technology, Inc.
• 2026-03-17 Listed $215,000 MLS Technology, Inc.
• 1990-06-05 Sold (Public Records) $19,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $481 · +8.8% YoY. Source: county tax records.