1121 SW 24th St · Oklahoma City, OK 73109

$95,000

3 bd · 1.0 ba · 1,355 sqft · SingleFamily public records · 32 Days on market

Built 1941 7,000 sqft lot $70/sqft · 42% below area Est $163k · 42% under

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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 +26.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.0/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

Turnkey Investment in Higgins Heights! Secure instant cash flow with this 3 bedroom, 1 bath bungalow already leased at $795 per month through June 2026. The tenant is in place, providing steady income from day one, and the new roof installed in November 2023. The 1,355 square foot layout offers comfortable living space, and the covered front porch adds charm and curb appeal. Located just minutes from OKC’s Wheeler District and Riversport Adventures, you are close to some of the city’s most exciting dining, recreation, and entertainment options. This location adds to the long term tenant appeal and overall investment value. Tenant occupied. Advance notice is required for all showings.

Key facts

• Covered front porch
• Close to recreation
• Close to dining

Tags

• NEW ROOF
• COVERED FRONT PORCH
• CLOSE TO DINING
• CLOSE TO RECREATION
• CLOSE TO ENTERTAINMENT

🏷️ Possibly a rental listed for sale. The $95,000 price doesn't fit this home's estimated sale value (~$163,436) and the remarks read like a rental — treat the cards below with caution.

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 $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: 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; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($657 loan paydown + $10k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.5% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $20k; list at $95k implies a 387% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.42%
• Cash-on-cash: 11.17%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (median comp): $163,436
• List price: $95,000
• Delta: -41.87%
• 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
1743 Oso Ave	0.44mi	3/2.5	1,331 (-2%)	1mo	$415,000	$312	69
1232 SW 17th St	0.50mi	3/2.0	1,376 (+2%)	2mo	$187,000	$136	68
1033 SW Binkley St	0.56mi	3/1.0	1,342 (-1%)	6mo	$190,000	$142	68
1536 SW 28th St	0.63mi	3/2.0	1,360 (+0%)	2mo	$234,000	$172	64
1700 SW 18th St	0.64mi	3/2.0	1,334 (-2%)	2mo	$152,000	$114	62
1817 Runway Blvd	0.46mi	3/2.5	1,413 (+4%)	8mo	$367,000	$260	59
1141 SW Binkley St	0.56mi	3/1.0	1,450 (+7%)	7mo	$160,000	$110	56
1624 S Douglas Ave	0.62mi	2/2.5 (-1)	1,332 (-2%)	3mo	$395,000	$297	55
3225 S Douglas Ave	0.59mi	3/2.0	1,260 (-7%)	6mo	$175,000	$139	52
800 SW 26th St	0.44mi	4/2.0 (+1)	1,440 (+6%)	10mo	$217,000	$151	52
1325 SW 28th St	0.39mi	2/1.5 (-1)	1,200 (-11%)	8mo	$74,000	$62	49
605 SW 26th St	0.67mi	3/1.0	1,532 (+13%)	6mo	$125,000	$82	42

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: 33.1%
• Equity multiple: 3.60×
• Total profit: $69,181
• Equity at exit: $85,584

10-year hold

• IRR: 29.0%
• Equity multiple: 8.33×
• Total profit: $194,948
• Equity at exit: $184,564

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 73109

• Home prices YoY: 9.5%
• Rents YoY: 4.5%
• Active inventory: 83
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,093 high
• Mortgage (P&I): −$498
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $248

Break-even live

Break-even rent $779

Max offer price $95,000

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

Rent comps 11 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	0.37mi
900 Hangar Dr Oklahoma City, OK	2.0	1.0–2.0	743	$2,075	$2.79	1d	37	0.42mi
1632 Birch St Oklahoma City, OK	2.0	1.0	935	$775	$0.83	2d	1	0.91mi
1416 S Daugherty Ave Oklahoma City, OK	3.0	1.0	1164	$1,120	$0.96	11d	1	0.91mi
1616 Linden St Oklahoma City, OK	3.0	1.5	1175	$975	$0.83	23d	1	0.97mi
3407 S Lee Ave Oklahoma City, OK	2.0	1.0	900	$980	$1.09	43d	1	0.98mi
1802 Exchange Ave Oklahoma City, OK	2.0	1.0	1312	$875	$0.67	43d	1	1.02mi
1802 Exchange Ave Unit 1802 Oklahoma City, OK	2.0	1.0	1312	$875	$0.67	3d	1	1.02mi
2140 SW 35th St Oklahoma City, OK	3.0	2.0	976	$1,300	$1.33	43d	1	1.14mi
1132 SW 40th St Oklahoma City, OK	3.0	2.0	1436	$1,350	$0.94	23d	1	1.19mi
4426 S Olie Ave Oklahoma City, OK	2.0	2.0	1159	$1,220	$1.05	11d	1	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $95,000 Active 32 DOM
2. 2026-06-17
   days on market $95,000 Active 31 DOM
3. 2026-06-16
   days on market $95,000 Active 30 DOM
4. 2026-06-15
   days on market $95,000 Active 29 DOM
5. 2026-06-13
   days on market $95,000 Active 27 DOM
6. 2026-06-09
   days on market $95,000 Active 23 DOM
7. 2026-06-08
   days on market $95,000 Active 22 DOM
8. 2026-06-07
   days on market $95,000 Active 21 DOM
9. 2026-06-05
   days on market $95,000 Active 18 DOM
10. 2026-06-03
    days on market $95,000 Active 17 DOM
11. 2026-06-02
    days on market $95,000 Active 16 DOM
12. 2026-06-01
    days on market $95,000 Active 15 DOM
13. 2026-05-31
    days on market $95,000 Active 14 DOM
14. 2026-05-17
    listed $95,000 Active 704-char remark

    Show marketing remark (704 chars)

    Turnkey Investment in Higgins Heights! Secure instant cash flow with this 3 bedroom, 1 bath bungalow already leased at $795 per month through June 2026. The tenant is in place, providing steady income from day one, and the new roof installed in November 2023. The 1,355 square foot layout offers comfortable living space, and the covered front porch adds charm and curb appeal. Located just minutes from OKC’s Wheeler District and Riversport Adventures, you are close to some of the city’s most exciting dining, recreation, and entertainment options. This location adds to the long term tenant appeal and overall investment value. Tenant occupied. Advance notice is required for all showings.

15. 2026-05-13
    historical
16. 2025-10-06
    price $95,000
17. 2025-08-09
    listed $105,000 Active
18. 1997-05-13
    soldstatus $19,500
19. 1989-12-28
    soldstatus $8,190

ⓘ 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: $936 · $78/mo
• Projected year-2 tax: $936 · $78/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 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: $13,113
• − Mortgage interest: −$5,321
• − Property taxes: −$936
• − Insurance: −$475
• − Repairs & maintenance: −$1,049
• − Management: −$1,049
• − Depreciation: −$2,764
• Taxable income: $1,519
• Est. tax owed @ 24.0%: −$365
• After-tax cash flow: $2,606/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

+1060.0% since first listed

6 events — show timeline

• 2026-05-17 Listed $95,000 MLSOK
• 2026-05-13 Listing Removed — MLSOK
• 2025-10-06 Price Changed $95,000 MLSOK
• 2025-08-09 Listed $105,000 MLSOK
• 1997-05-13 Sold (Public Records) $19,500 Public Records
• 1989-12-28 Sold (Public Records) $8,190 Public Records

Property tax history

+3.4%/yr

Latest (2025): $936 · +4.4% YoY. Source: county tax records.