1101 SW 23rd St · Oklahoma City, OK 73109

$325,000

4 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 67 Days on market

Built 2026 0.32 ac lot $218/sqft · 32% below area Est $534k · 39% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Cash flow +3.2/30.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Beautiful new construction offering modern living space on a spacious lot in Oklahoma City. Features include an open layout, luxury tile flooring throughout, modern fireplace, and a designer kitchen with custom cabinetry, quartz countertops, and a large island. The primary suite offers a double vanity with LED mirrors and sleek finishes. Enjoy a fully fenced backyard . This home is conveniently located near highways ,shopping fine dining, downtown and wheeler district !

Key facts

• Luxury tile flooring
• Custom cabinetry
• Designer kitchen

Tags

• NEW CONSTRUCTION
• MODERN LIVING SPACE
• OPEN LAYOUT
• LUXURY TILE FLOORING
• DESIGNER KITCHEN
• CUSTOM CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (55.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (61.6% below list).
• Recommended offer: $125k (61.6% below list) — sets the bar for 1% rule.
• Cap rate 2.5% vs local median 3.7% in Oklahoma City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: schools F, 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.
• Market conditions: Rents rising fast (+4.5%/yr); 83 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 35% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $186k; list at $325k implies a 75% 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 $124,880 (61.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 62% concession, seller financing, or rate buy-down credit?
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: 0.38% ✗
• Cap rate: 2.50%
• Cash-on-cash: -13.56%
• DSCR: 0.40
• GRM: 21.7

CMA / ARV

• ARV (median comp): $534,294
• List price: $325,000
• Delta: -39.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1817 Runway Blvd	0.37mi	3/2.5 (-1)	1,413 (-5%)	8mo	$367,000	$260	60
1232 SW 17th St	0.45mi	3/2.0 (-1)	1,376 (-8%)	2mo	$187,000	$136	60
1743 Oso Ave	0.36mi	3/2.5 (-1)	1,331 (-11%)	1mo	$415,000	$312	57
1636 S Douglas Ave	0.55mi	3/2.5 (-1)	1,583 (+6%)	0mo	$475,000	$300	56
1640 S Douglas Ave	0.50mi	3/2.5 (-1)	1,583 (+6%)	3mo	$475,000	$300	56
1044 SW 26th St	0.25mi	3/1.0 (-1)	1,679 (+13%)	4mo	$66,000	$39	54
605 SW 26th St	0.65mi	3/1.0 (-1)	1,532 (+3%)	6mo	$125,000	$82	51
1141 SW Binkley St	0.64mi	3/1.0 (-1)	1,450 (-3%)	7mo	$160,000	$110	51
1700 SW 18th St	0.63mi	3/2.0 (-1)	1,334 (-10%)	2mo	$152,000	$114	47
1536 SW 28th St	0.71mi	3/2.0 (-1)	1,360 (-9%)	2mo	$234,000	$172	46
1628 S Douglas Ave	0.55mi	3/2.5 (-1)	1,670 (+12%)	6mo	$485,000	$290	42
1033 SW Binkley St	0.63mi	3/1.0 (-1)	1,342 (-10%)	6mo	$190,000	$142	41

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

Projected returns pro-forma

10.0% appreciation · 4.51% rent growth · sell at horizon

5-year hold

• IRR: 15.1%
• Equity multiple: 2.25×
• Total profit: $113,314
• Equity at exit: $292,786

10-year hold

• IRR: 14.9%
• Equity multiple: 5.28×
• Total profit: $389,105
• Equity at exit: $631,404

Cash invested: $91,000 (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 73109

• Home prices YoY: 9.5%
• Rents YoY: 4.5%
• Active inventory: 83
• Price-to-rent: 21.7×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$175 /mo · $2,101/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-1,028

Break-even live

Break-even rent $2,550

Max offer price $143,349

Occupancy floor —

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1345 SW 27th St Oklahoma City, OK	3.0	2.0	1153	$1,095	$0.95	2d	1	0.46mi
1416 S Daugherty Ave Oklahoma City, OK	3.0	1.0	1164	$1,120	$0.96	12d	1	0.89mi
1616 Linden St Oklahoma City, OK	3.0	1.5	1175	$975	$0.83	24d	1	0.93mi
2140 SW 35th St Oklahoma City, OK	3.0	2.0	976	$1,300	$1.33	44d	1	1.23mi
1132 SW 40th St Oklahoma City, OK	3.0	2.0	1436	$1,350	$0.94	24d	1	1.26mi

Listing history 10 events

1. 2026-06-18
   days on market $325,000 Active 67 DOM
2. 2026-06-18
   days on market $325,000 Active 66 DOM
3. 2026-05-14
   price $325,000 474-char remark

   Show marketing remark (474 chars)

   Beautiful new construction offering modern living space on a spacious lot in Oklahoma City. Features include an open layout, luxury tile flooring throughout, modern fireplace, and a designer kitchen with custom cabinetry, quartz countertops, and a large island. The primary suite offers a double vanity with LED mirrors and sleek finishes. Enjoy a fully fenced backyard . This home is conveniently located near highways ,shopping fine dining, downtown and wheeler district !

4. 2026-04-23
   price $330,000 474-char remark

   Show marketing remark (474 chars)

   Beautiful new construction offering modern living space on a spacious lot in Oklahoma City. Features include an open layout, luxury tile flooring throughout, modern fireplace, and a designer kitchen with custom cabinetry, quartz countertops, and a large island. The primary suite offers a double vanity with LED mirrors and sleek finishes. Enjoy a fully fenced backyard . This home is conveniently located near highways ,shopping fine dining, downtown and wheeler district !

5. 2026-03-30
   price $345,000 474-char remark

   Show marketing remark (474 chars)

   Beautiful new construction offering modern living space on a spacious lot in Oklahoma City. Features include an open layout, luxury tile flooring throughout, modern fireplace, and a designer kitchen with custom cabinetry, quartz countertops, and a large island. The primary suite offers a double vanity with LED mirrors and sleek finishes. Enjoy a fully fenced backyard . This home is conveniently located near highways ,shopping fine dining, downtown and wheeler district !

6. 2026-03-19
   listed $350,000 Active 474-char remark

   Show marketing remark (474 chars)

   Beautiful new construction offering modern living space on a spacious lot in Oklahoma City. Features include an open layout, luxury tile flooring throughout, modern fireplace, and a designer kitchen with custom cabinetry, quartz countertops, and a large island. The primary suite offers a double vanity with LED mirrors and sleek finishes. Enjoy a fully fenced backyard . This home is conveniently located near highways ,shopping fine dining, downtown and wheeler district !

7. 2025-01-21
   soldstatus $186,000
8. 2007-06-04
   soldstatus $118,000
9. 2004-05-17
   soldstatus $105,000
10. 2000-12-15
    soldstatus $91,000

ⓘ 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: $2,101 · $175/mo
• Projected year-2 tax: $2,925 · $244/mo
• Expected delta: +$824/yr (+$69/mo · 39.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% 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: $14,986
• − Mortgage interest: −$18,205
• − Property taxes: −$2,101
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$9,455
• Taxable loss: −$18,798
• Est. tax savings @ 24.0%: +$4,511
• After-tax cash flow: $-7,828/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): 21,378
• Household income: $43,133
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1473.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 24% White 23% Black 9% Native American 5%
• Hispanic origin (detail): Mexican 58%
• Common ancestry: Italian 1% Hispanic 1% Scottish 1%
• Foreign-born: 26% · Canada
• Languages at home: 49% English-only · Spanish 50% Other Asian/Pacific 0%

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: ▲ 23.48%
• Current HPI: 270.5333
• Rent YoY: ▲ 4.51%
• 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

+257.1% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $325,000 MLSOK
• 2026-04-23 Price Changed $330,000 MLSOK
• 2026-03-30 Price Changed $345,000 MLSOK
• 2026-03-19 Listed $350,000 MLSOK
• 2025-01-21 Sold (Public Records) $186,000 Public Records
• 2007-06-04 Sold (Public Records) $118,000 Public Records
• 2004-05-17 Sold (Public Records) $105,000 Public Records
• 2000-12-15 Sold (Public Records) $91,000 Public Records

Property tax history

+3.0%/yr

Latest (2024): $2,101 · +4.4% YoY. Source: county tax records.