612 SE 28th St · Oklahoma City, OK 73129

$108,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 6 Days on market

Built 1930 7,501 sqft lot Est $106k · at est.

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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 +19.5/30.0
• ARV discount +6.5/15.0
• DSCR +6.2/10.0
• Appreciation +5.9/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

Recently remodeled home near Capitol's Hill's historic business district. Two bed/one bath perched on a large lot. The home feature LVP flooring and new paint throughout. Updated light fixtures along with a fully remodeled bathroom. In the kitchen, new countertops and range. Great price point to begin your investment journey. The home is currently occupied with a tenant in place through April 2027. Please do not disturb tenants.

Key facts

• Large lot
• New paint
• Lvp flooring

Tags

• REMODELED HOME
• LARGE LOT
• LVP FLOORING
• NEW PAINT
• UPDATED LIGHT FIXTURES
• FULLY REMODELED BATHROOM

Property features AI

Finance

• Other: Living area reported as 832 (assessor); Property status: Existing; Occupied
• Financial info: Loan qualification possible; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Utilities: No flood insurance required (per listing)
• Home design: Single family residence; One level; Residential property
• Construction: Brick and frame construction; Composition roof; Conventional foundation
• Exterior features: Interior lot; Located in View Point Add

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit cooling
• Interior features: One living area; No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $99k (7.9% below list).
• Recommended offer: $99k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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: Shidler Es (math 2% / reading 2%, grade F, #802 of 845 statewide, top 100%, 325 students, 0% FRL); Capitol Hill Hs (math 2% / reading 4%, grade F, #444 of 447 statewide, top 99%, 1,455 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: 83 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).

Forward outlook

• In year one you build about $3k of equity ($747 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 $30k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $99,475 (7.9% below list)

Questions for the listing agent

1. Built in 1930 — 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: 0.92% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.84%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $105,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
717 SE 31st St	0.21mi	2/1.0	770 (-8%)	7mo	$54,900	$71	72
640 SE 20th St	0.59mi	2/1.0	816 (-2%)	5mo	$104,000	$127	65
414 SE 24th St	0.36mi	2/1.0	860 (+3%)	16mo	$89,000	$103	64
419 SE 23rd St	0.44mi	2/1.0	832 (0%)	20mo	$61,000	$73	63
617 SW 35th St	0.45mi	2/1.0	776 (-7%)	6mo	$146,000	$188	62
716 SE 31st St	0.22mi	3/1.0 (+1)	864 (+4%)	19mo	$123,000	$142	62
206 SE 25th St	0.49mi	2/1.0	884 (+6%)	6mo	$34,000	$38	61
420 SE 22nd St	0.50mi	2/1.0	918 (+10%)	8mo	$45,000	$49	52
822 SE 26th St	0.29mi	2/1.0	712 (-14%)	14mo	$83,500	$117	51
633 SE 39th St	0.71mi	3/1.0 (+1)	885 (+6%)	5mo	$156,000	$176	47
701 SE 35th St	0.49mi	2/1.0	744 (-11%)	20mo	$95,000	$128	43
1929 S Stonewall Ave	0.74mi	2/1.0	720 (-14%)	14mo	$100,000	$139	31

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: 8.6%
• Equity multiple: 1.46×
• Total profit: $13,762
• Equity at exit: $41,127

10-year hold

• IRR: 11.9%
• Equity multiple: 2.56×
• Total profit: $47,218
• Equity at exit: $58,114

Cash invested: $30,240 (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: 9.0×

Monthly cashflow live

• Estimated rent: $995 high
• Mortgage (P&I): −$566
• Tax from tax record: −$52 /mo · $629/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $122

Break-even live

Break-even rent $840

Max offer price $108,000

Occupancy floor 83%

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 SE 25th St Oklahoma City, OK	3.0	1.0	896	$1,275	$1.42	44d	1	0.36mi
317 SE 24th St Oklahoma City, OK	2.0	1.0	917	$950	$1.04	4d	1	0.46mi
630 SE 21st St Oklahoma City, OK	3.0	2.0	1000	$1,095	$1.09	44d	1	0.53mi
526 SE 21st St Oklahoma City, OK	3.0	1.0	1054	$1,150	$1.09	4d	1	0.55mi
726 SE 20th St Oklahoma City, OK	2.0	1.0	672	$1,095	$1.63	44d	1	0.61mi
116 SW 23rd St Oklahoma City, OK	1.0	1.0	700	$650	$0.93	44d	1	0.93mi
115 SW 23rd St Oklahoma City, OK	1.0	1.0	750	$575	$0.77	16d	1	0.93mi
4101 S Shields Blvd Unit Shields 3B Oklahoma City, OK	3.0	2.0	957	$1,050	$1.10	24d	1	0.94mi
4101 S Shields Blvd Apt 3B Oklahoma City, OK	3.0	2.0	957	$1,025	$1.07	4d	1	0.94mi
1413 SE 39th St Oklahoma City, OK	3.0	1.0	1004	$1,125	$1.12	44d	1	1.01mi
3312 S Harvey Ave Oklahoma City, OK	2.0	1.0	840	$1,100	$1.31	20d	1	1.05mi
220 SW 34th St Oklahoma City, OK	1.0	1.0	625	$725	$1.16	44d	1	1.05mi
109 SE 42nd St Apt A Oklahoma City, OK	2.0	1.0	800	$799	$1.00	17d	1	1.07mi
101 SE 42nd St Unit B Oklahoma City, OK	2.0	1.0	740	$645	$0.87	44d	1	1.08mi
316 SW 27th St Unit 4 Oklahoma City, OK	1.0	1.0	615	$679	$1.10	12d	1	1.08mi
316 SW 27th St Unit 8 Oklahoma City, OK	1.0	1.0	615	$679	$1.10	44d	1	1.08mi
404 SW 26th St Unit 6 Oklahoma City, OK	1.0	1.0	600	$645	$1.07	12d	1	1.15mi
3913 S Harvey Ave Unit 2 Oklahoma City, OK	1.0	1.0	568	$900	$1.58	44d	1	1.25mi
709 SE 10th St Oklahoma City, OK	2.0	1.0	864	$995	$1.15	4d	1	1.27mi
3906 S Hudson Ave Oklahoma City, OK	1.0	1.0	700	$750	$1.07	24d	1	1.30mi
540 SW 24th St #3 Oklahoma City, OK	1.0	1.0	726	$625	$0.86	44d	1	1.35mi
4908 S Stiles Ave Oklahoma City, OK	2.0	1.0	600	$1,000	$1.67	44d	1	1.39mi
3407 S Lee Ave Oklahoma City, OK	2.0	1.0	900	$980	$1.09	44d	1	1.39mi
3618 S Lee Ave Oklahoma City, OK	1.0	1.0	760	$850	$1.12	44d	1	1.42mi
3616 S Lee Ave Oklahoma City, OK	1.0	1.0	760	$775	$1.02	44d	1	1.42mi

Listing history 4 events

1. 2026-06-16
   statusdays on market $108,000 Pending 6 DOM
2. 2026-06-15
   days on market $108,000 Active 5 DOM
3. 2026-06-13
   remarks 432-char remark
4. 2026-06-13
   listed $108,000 Active 3 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: $629 · $52/mo
• Projected year-2 tax: $972 · $81/mo
• Expected delta: +$343/yr (+$29/mo · 54.6%)

ⓘ 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: $11,937
• − Mortgage interest: −$6,050
• − Property taxes: −$629
• − Insurance: −$540
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$3,142
• Taxable loss: −$333
• Est. tax savings @ 24.0%: +$80
• After-tax cash flow: $1,545/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): 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

3 events — show timeline

• 2026-06-10 Listed $108,000 MLSOK
• 2026-03-28 Rental Removed $995 TENANTTURNER2
• 2025-10-17 Listed for Rent $995 TENANTTURNER2

Property tax history

+6.9%/yr

Latest (2025): $629 · +4.4% YoY. Source: county tax records.