4520 NW 46th St · Warr Acres, OK 73122

$115,000

3 bd · 2.0 ba · 1,747 sqft · SingleFamily public records · 1 Days on market

Built 1958 8,821 sqft lot Est $229k · 50% under ↓ 3% 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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.9/10.0
• Livability +3.5/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is centrally located in NW OKC/an established neighborhood. 3 Bed, 2-1/2 Bath, 2 Living, 2 Car Garage/with carport. Sewer line and water line replaced. Storage building has 2 lofts and electricity.

Key facts

• 8,821 sq ft lot
• 2 garage spots
• Built 1958

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 $339 ($4k/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 9.8% vs local median 5.0% in Warr Acres — 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 70/100 on livability (#35 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: employment C-, crime F, amenities F.
• Putnam City (urban): math 12% / reading 16% proficiency, ranked #227 of 270 in OK (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Arbor Grove Es (math 6% / reading 12%, grade F, #735 of 845 statewide, top 87%, 519 students, 0% FRL); Putnam City Hs (math 12% / reading 23%, grade F, #307 of 447 statewide, top 69%, 2,014 students, 0% FRL) — zoned schools average 0% FRL vs 65% district-wide (65 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents flat; 48 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/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 $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.
• 2 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $115,000

Questions for the listing agent

1. Built in 1958 — 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: 1.29% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $228,857
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4520 NW 46th St	0.00mi	3/1.5	1,747 (0%)	1mo	$115,000	$66	97
4232 N Libby Ave	0.25mi	4/2.0 (+1)	1,712 (-2%)	3mo	$200,000	$117	78
4325 NW 44th St	0.26mi	3/2.0	1,818 (+4%)	6mo	$238,000	$131	76
4212 NW 45th St	0.37mi	3/1.5	1,643 (-6%)	6mo	$185,000	$113	66
4125 N Reeder Ave	0.42mi	3/2.5	1,628 (-7%)	6mo	$220,000	$135	62
4329 NW 44th St	0.24mi	4/2.0 (+1)	1,963 (+12%)	1mo	$265,000	$135	62
4405 NW 54th St	0.59mi	3/2.0	1,550 (-11%)	2mo	$225,000	$145	52
4105 NW 44th St	0.55mi	3/2.0	1,508 (-14%)	3mo	$185,100	$123	49
4312 N Grove Ave	0.68mi	2/2.0 (-1)	1,611 (-8%)	5mo	$185,000	$115	46
4333 NW 55th St	0.66mi	4/3.0 (+1)	1,858 (+6%)	6mo	$215,000	$116	45
4113 NW 52nd St	0.69mi	3/2.0	1,499 (-14%)	1mo	$218,000	$145	43
4129 NW 51st St	0.61mi	3/2.0	1,494 (-14%)	6mo	$198,000	$133	42

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 · 0.73% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-315
• Equity at exit: $17,147

10-year hold

• IRR: 6.8%
• Equity multiple: 1.46×
• Total profit: $14,735
• 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 73122

• Home prices YoY: -27.8%
• Rents YoY: 0.7%
• Active inventory: 48
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,480 high
• Mortgage (P&I): −$603
• Tax from tax record: −$179 /mo · $2,150/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $339

Break-even live

Break-even rent $1,051

Max offer price $115,000

Occupancy floor 72%

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 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4608 N Libby Ave Warr Acres, OK	4.0	2.0	1290	$1,595	$1.24	2d	1	0.11mi
4316 N Libby Ave Warr Acres, OK	4.0	1.5	1377	$1,650	$1.20	23d	1	0.18mi
4213 N Westridge St Oklahoma City, OK	3.0	2.0	1474	$1,295	$0.88	2d	1	0.24mi
4207 N Reeder Ave Oklahoma City, OK	4.0	2.0	1954	$2,015	$1.03	1d	1	0.37mi
4200 N Meridian Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	801	$1,289	$1.61	4d	29	0.39mi
4401 N Ann Arbor Ave Warr Acres, OK	3.0	1.0	1216	$1,245	$1.02	23d	1	0.43mi
4406 NW 54th St Oklahoma City, OK	3.0	2.0	1710	$1,495	$0.87	23d	1	0.57mi
5304 Willow Cliff Rd Oklahoma City, OK	2.0	2.0	1060	$1,086	$1.02	4d	1	0.66mi
5304 Willow Cliff Rd Oklahoma City, OK	3.0	3.0	1505	$1,330	$0.88	14d	1	0.66mi
4396 NW 36th St Oklahoma City, OK	1.0–3.0	1.0–2.0	848	$1,349	$1.59	2d	9	0.88mi
4128 NW 36th St Unit 4 Oklahoma City, OK	2.0	1.5	1130	$1,125	$1.00	23d	1	0.92mi
6020 N Meridian Pl Oklahoma City, OK	3.0	2.0	1580	$1,550	$0.98	11d	1	1.01mi
3411 Cameron Ct Oklahoma City, OK	2.0	2.0	1409	$1,300	$0.92	43d	1	1.06mi
3411 Cameron Ct Oklahoma City, OK	2.0	2.0	1409	$1,300	$0.92	23d	1	1.06mi
4425 NW 31st St Oklahoma City, OK	3.0	1.5	1222	$1,500	$1.23	23d	1	1.10mi
6100 N Meridian Ave Oklahoma City, OK	2.0	3.0	1260	$1,125	$0.89	23d	1	1.12mi
3929 NW 32nd St Oklahoma City, OK	3.0	1.0	1050	$1,300	$1.24	43d	1	1.21mi
3624 NW 42nd St Oklahoma City, OK	1.0–2.0	1.0–2.0	1050	$899	$0.86	2d	1	1.22mi
5107 N Hammond Ave Unit 5109D Warr Acres, OK	3.0	2.0	1300	$1,399	$1.08	23d	1	1.24mi
5107 N Hammond Ave Unit 5103B Warr Acres, OK	2.0	1.5	1050	$999	$0.95	23d	1	1.24mi
5901 NW 34th St Oklahoma City, OK	1.0–2.0	1.0–2.0	925	$1,049	$1.13	2d	28	1.26mi
5560 N Portland Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	955	$1,249	$1.31	1d	50	1.30mi
5633 Norman Rd Warr Acres, OK	3.0	2.0	1225	$1,375	$1.12	2d	1	1.32mi
4707 NW 63rd St Oklahoma City, OK	2.0	2.0	1150	$1,150	$1.00	17d	1	1.33mi
4206 N Donald Ave Bethany, OK	3.0	1.5	1867	$1,450	$0.78	2d	1	1.34mi
3803 N Redmond Ave Bethany, OK	3.0	2.0	1260	$2,100	$1.67	1d	1	1.42mi
3729 NW 60th St Oklahoma City, OK	3.0	1.5	1424	$1,500	$1.05	20d	1	1.44mi
3407 NW 39th St Oklahoma City, OK	3.0	2.0	1400	$1,240	$0.89	23d	1	1.45mi
6554 N Meridian Ave #109 Oklahoma City, OK	2.0	2.0	1275	$1,199	$0.94	2d	1	1.47mi
4036 NW 30th Ter Oklahoma City, OK	3.0	2.0	1675	$1,500	$0.90	23d	1	1.49mi

Listing history 5 events

1. 2026-04-18
   status Pending
2. 2026-04-17
   listed $115,000 Active
3. 2006-08-28
   soldstatus $122,000
4. 2006-08-18
   soldstatus $121,900 207-char remark

   Show marketing remark (207 chars)

   This home is centrally located in NW OKC/an established neighborhood. 3 Bed, 2-1/2 Bath, 2 Living, 2 Car Garage/with carport. Sewer line and water line replaced. Storage building has 2 lofts and electricity.

5. 2006-06-08
   listed $118,900 207-char remark

   Show marketing remark (207 chars)

   This home is centrally located in NW OKC/an established neighborhood. 3 Bed, 2-1/2 Bath, 2 Living, 2 Car Garage/with carport. Sewer line and water line replaced. Storage building has 2 lofts and electricity.

ⓘ 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: $2,150 · $179/mo
• Projected year-2 tax: $2,150 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,757
• − Mortgage interest: −$6,442
• − Property taxes: −$2,150
• − Insurance: −$575
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$3,345
• Taxable income: $2,404
• Est. tax owed @ 24.0%: −$577
• After-tax cash flow: $3,489/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: Putnam City
• NCES district ID: 4025290
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 16% ▼ -14.00%
• Median HH income: $46,657
• Composite: 12.61/100
• National rank: #9614
• State rank: #227 of 270 in OK

Livability — Warr Acres

• Score: 70/100
• State rank: #35
• US rank: #7446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warr Acres, OK
• County: Oklahoma County · 771,644 people
• City population: 12,635
• Metro: Oklahoma City, OK
• Population (ZIP): 12,635
• Household income: $51,227
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 826.0

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 0.69)
• Race & ethnicity: White 45% Hispanic / Latino 30% Two or more races 21% Black 14% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 16% · Canada, Vietnam, Philippines
• Languages at home: 75% English-only · Spanish 23% Other Indo-European 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: ▼ -96.26%
• Current HPI: 249.485
• Rent YoY: ▲ 0.73%
• 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

-3.3% since first listed

5 events — show timeline

• 2026-04-18 Pending — MLSOK
• 2026-04-17 Listed $115,000 MLSOK
• 2006-08-28 Sold (Public Records) $122,000 Public Records
• 2006-08-18 Sold (MLS) $121,900 MLSOK
• 2006-06-08 Listed $118,900 MLSOK

Property tax history

+5.5%/yr

Latest (2025): $2,150 · +6.4% YoY. Source: county tax records.