2517 NW 22nd St · Oklahoma City, OK 73107

$122,500

3 bd · 1.0 ba · 1,009 sqft · SingleFamily public records · 7 Days on market

Built 1929 7,000 sqft lot Est $169k · 27% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.0/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Invest in the dynamic growth of Oklahoma City's Urban Core. This home is located in an area for redevelopment and could be the project you've been looking for! Ideally situated close to the UCO, Uptown Districts and just minutes from the Plaza, Paseo, and Midtown Districts. INVESTORS check this out!! This home is one of nine properties being sold in a trust. All nine are in a rental portfolio, two properties are occupied and all can be sold as a package. For a list of all properties see supplements. All homes are being sold in "as is" condition, seller will make no repairs. Buyer to verify all school districts.

Key facts

• Rental property
• Long term investment
• Prime location

Tags

• PRIME LOCATION
• UPTOWN DISTRICT
• RENTAL PROPERTY
• LONG TERM INVESTMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/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 $122k (0.3% below list).
• Recommended offer: $122k (0.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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: Cleveland Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 405 students, 0% FRL); Northwest Classen Hs (math 5% / reading 10%, grade F, #420 of 447 statewide, top 95%, 1,702 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: Rents rising fast (+7.3%/yr); 216 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $847 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $122,074 (0.3% below list)

Questions for the listing agent

1. Built in 1929 — 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: 1.00% ✗
• Cap rate: 7.89%
• Cash-on-cash: 5.69%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $168,503
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2501 NW 24th St	0.14mi	2/1.0 (-1)	1,071 (+6%)	3mo	$325,000	$303	76
2244 NW 20th St	0.37mi	2/1.0 (-1)	1,052 (+4%)	2mo	$176,000	$167	69
2428 NW 22nd St	0.08mi	2/1.0 (-1)	1,145 (+14%)	3mo	$169,000	$148	66
2509 N Cashion Pl	0.63mi	2/1.0 (-1)	1,005 (-0%)	0mo	$169,900	$169	65
2543 NW 18th St	0.30mi	3/1.0	1,141 (+13%)	3mo	$200,000	$175	62
2400 NW 22nd St	0.14mi	2/1.0 (-1)	1,146 (+14%)	5mo	$165,000	$144	62
2133 NW 29th St	0.68mi	2/1.0 (-1)	988 (-2%)	1mo	$143,900	$146	59
2316 Cashion Pl	0.66mi	2/1.0 (-1)	1,056 (+5%)	2mo	$110,000	$104	55
2410 NW 32nd St	0.75mi	2/1.0 (-1)	986 (-2%)	3mo	$190,000	$193	54
2645 NW 31st St	0.72mi	2/1.0 (-1)	940 (-7%)	6mo	$149,000	$159	46
2331 NW 31st St	0.73mi	2/1.0 (-1)	900 (-11%)	4mo	$160,000	$178	39
2139 NW 29th St	0.68mi	4/2.0 (+1)	1,152 (+14%)	3mo	$65,000	$56	33

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 · 7.29% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.88×
• Total profit: $-3,997
• Equity at exit: $18,265

10-year hold

• IRR: 10.8%
• Equity multiple: 2.01×
• Total profit: $34,476
• Equity at exit: $10,592

Cash invested: $34,300 (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 73107

• Rents YoY: 7.3%
• Active inventory: 216
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,221 high
• Mortgage (P&I): −$642
• Tax from tax record: −$108 /mo · $1,298/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $163

Break-even live

Break-even rent $1,015

Max offer price $122,500

Occupancy floor 82%

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2605 NW 24th St Oklahoma City, OK	2.0	1.0	1300	$1,525	$1.17	2d	1	0.20mi
2748 NW 22nd St Oklahoma City, OK	2.0	1.0	1066	$1,500	$1.41	2d	1	0.27mi
2504 NW 27th St Oklahoma City, OK	2.0	1.0	1303	$1,450	$1.11	43d	1	0.32mi
2236 NW 22nd St Oklahoma City, OK	2.0	1.0	1200	$950	$0.79	21d	1	0.32mi
2502 NW 16th St Oklahoma City, OK	2.0	1.0	780	$1,100	$1.41	43d	1	0.43mi
2854 NW 19th St Unit 2854 Oklahoma City, OK	2.0	1.0	811	$1,280	$1.58	3d	1	0.52mi
2400 NW 30th St Oklahoma City, OK	1.0–2.0	1.0–2.0	801	$1,279	$1.60	2d	11	0.54mi
2400 NW 30th St Oklahoma City, OK	2.0	2.0	1078	$1,289	$1.20	43d	1	0.56mi
2042 NW 25th St Unit 17E Oklahoma City, OK	2.0	1.0	725	$750	$1.03	43d	1	0.58mi
2030 NW 25th St Unit 4 Oklahoma City, OK	2.0	1.0	725	$750	$1.03	43d	1	0.59mi
2030 NW 25th St Unit 17 Oklahoma City, OK	2.0	1.0	725	$750	$1.03	4d	1	0.59mi
2030 NW 25th St Unit 1 Oklahoma City, OK	2.0	1.0	725	$750	$1.03	43d	1	0.59mi
3003 NW 20th St Oklahoma City, OK	2.0	1.0	909	$999	$1.10	43d	1	0.64mi
2024 NW 26th St Oklahoma City, OK	2.0	1.0	947	$1,099	$1.16	43d	1	0.64mi
2132 NW 29th St Unit 2134 Oklahoma City, OK	2.0	1.0	850	$1,000	$1.18	14d	1	0.66mi
2924 Pioneer St Oklahoma City, OK	2.0	1.0	806	$1,125	$1.40	43d	1	0.67mi
1403 N Miller Blvd Oklahoma City, OK	2.0	1.0	1200	$1,100	$0.92	4d	1	0.68mi
3000 NW 27th St Oklahoma City, OK	2.0	1.0	967	$1,095	$1.13	11d	1	0.70mi
3000 NW 27th St Oklahoma City, OK	2.0	1.0	967	$1,095	$1.13	4d	1	0.70mi
2937 Pioneer St Oklahoma City, OK	4.0	2.5	1479	$1,575	$1.06	23d	1	0.71mi
2325 NW 12th St Unit C Oklahoma City, OK	2.0	1.0	736	$899	$1.22	17d	1	0.71mi
2325 NW 12th St Unit D Oklahoma City, OK	2.0	1.0	836	$899	$1.08	43d	1	0.71mi
2319 NW 12th St Unit A Oklahoma City, OK	2.0	1.0	874	$925	$1.06	43d	1	0.72mi
2112 N Drexel Blvd Oklahoma City, OK	4.0	2.0	1443	$1,695	$1.17	43d	1	0.73mi
2004 NW 28th St Oklahoma City, OK	2.0	1.0	1425	$1,195	$0.84	43d	1	0.76mi
2525 NW 11th St Oklahoma City, OK	3.0	2.0	1415	$1,550	$1.10	43d	1	0.77mi
2212 NW 31st St Oklahoma City, OK	2.0	1.0	810	$1,024	$1.26	14d	1	0.77mi
2916 NW 14th St Oklahoma City, OK	2.0	4.0	800	$900	$1.12	2d	1	0.77mi
3109 NW 23rd St Oklahoma City, OK	2.0	1.0	1006	$925	$0.92	43d	1	0.78mi
2004 NW 15th St Oklahoma City, OK	2.0	1.0	982	$975	$0.99	43d	1	0.79mi
2220 NW 32nd St Oklahoma City, OK	2.0	1.0	850	$1,300	$1.53	21d	1	0.82mi
3045 Pioneer St Oklahoma City, OK	2.0	1.0	857	$1,050	$1.23	17d	1	0.83mi
1207 N Ross Ave Unit 1 Oklahoma City, OK	2.0	1.0	850	$880	$1.04	4d	1	0.84mi
2801 NW 11th St Oklahoma City, OK	2.0	1.0	1100	$1,150	$1.05	14d	1	0.85mi
3044 NW 28th St Oklahoma City, OK	3.0	1.0	1030	$1,150	$1.12	2d	1	0.85mi
2136 NW 32nd St Oklahoma City, OK	2.0	1.0	806	$925	$1.15	21d	1	0.86mi
2109 NW 31st St Oklahoma City, OK	3.0	1.0	1289	$1,350	$1.05	2d	1	0.86mi
3024 NW 14th St Oklahoma City, OK	2.0	1.0	924	$895	$0.97	16d	1	0.88mi
3021 NW 13th St Oklahoma City, OK	3.0	1.0	1072	$995	$0.93	23d	1	0.89mi
2100 NW 33rd St Oklahoma City, OK	2.0	1.0	1004	$1,245	$1.24	2d	1	0.96mi

Listing history 8 events

1. 2026-06-18
   days on market $122,500 Active 7 DOM
2. 2026-06-17
   days on market $122,500 Active 6 DOM
3. 2026-06-16
   days on market $122,500 Active 5 DOM
4. 2026-06-15
   days on market $122,500 Active 4 DOM
5. 2026-06-13
   pricestatusdays on marketlisting id $122,500 Active 2 DOM
6. 2024-08-18
   status Pending
7. 2024-07-08
   listed $149,230 Active
8. 2022-05-28
   price $925

ⓘ 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: $1,298 · $108/mo
• Projected year-2 tax: $1,298 · $108/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 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: $14,649
• − Mortgage interest: −$6,862
• − Property taxes: −$1,298
• − Insurance: −$612
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$3,564
• Taxable loss: −$31
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $1,961/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): 25,791
• Household income: $56,873
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1210.0

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 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 13% Native American 6% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 30% 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: ▼ -245.03%
• Current HPI: 274.7844
• Rent YoY: ▲ 7.29%
• 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

• 2024-08-18 Pending — MLSOK
• 2024-07-08 Listed $149,230 MLSOK
• 2022-05-28 Price Changed $925 RENT.

Property tax history

+4.4%/yr

Latest (2025): $1,298 · +4.2% YoY. Source: county tax records.