12308 E 18th St · Tulsa, OK 74128

$182,500

4 bd · 1.0 ba · 977 sqft · SingleFamily public records · 173 Days on market

Built 1970 8,100 sqft lot Est $151k · 21% over ↓ 16% since listing

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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).

• Cash flow +17.8/30.0
• DSCR +5.6/10.0
• 1% rule +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

MAKE-OVER MAGIC-Don't snooze on this cutie! Interior has been completely refreshed with new paint, changing the outdated 80's look to a contemporary, move-in ready home. Exterior paint has been updated along with some fixtures, exterior door and other repairs. Original custom touches remain, including thoughtfully designed built-in shelving that maximizes storage and adds character to every room. Impossible to find, the 18ft x 22 ft workshop with AC is perfect for hobbies, woodworking or extra storage. Inside, above-ground storm shelter provides peace of mind year round. With its functional floor plan, master suite with 1/2 bath and prime location close to schools and shopping, this is a gr

Key facts

• 18ft x 22ft workshop
• Split-bedroom layout
• Storm shelter

Tags

• SPLIT-BEDROOM LAYOUT
• BUILT-IN SHELVING
• 18FT X 22FT WORKSHOP
• STORM SHELTER
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $182k.

Deal economics

• At list price, monthly cash flow is $151 ($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 $160k (12.4% below list).
• Recommended offer: $160k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 3.8% in Tulsa — 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 75/100 on livability (#13 in OK, #4,058 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Tulsa (urban): math 7% / reading 12% proficiency, ranked #250 of 270 in OK (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Project Accept Traice Es (math 10% / reading 10%, grade F, #695 of 845 statewide, top 84%, 558 students, 0% FRL); Monroe Demonstration Ms (math 0% / reading 2%, grade F, #344 of 345 statewide, top 100%, 688 students, 0% FRL); Booker T. Washington Hs (math 41% / reading 61%, grade D+, #2 of 447 statewide, top 0%, 1,280 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 37% of the median local income ($52k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($161k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,952 (12.4% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.88% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.55%
• DSCR: 1.16
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $151,435
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2141 S 120th East Ave	0.36mi	3/1.0 (-1)	1,040 (+6%)	2mo	$175,000	$168	66
2206 S 131st East Ave	0.62mi	3/1.0 (-1)	980 (+0%)	1mo	$180,000	$184	65
12442 E 13th Pl	0.47mi	3/1.0 (-1)	1,018 (+4%)	2mo	$164,400	$161	64
2217 S 128th East Pl	0.51mi	3/2.0 (-1)	1,034 (+6%)	2mo	$112,132	$108	56
2403 S 124th EastAvenue	0.50mi	3/1.5 (-1)	1,068 (+9%)	3mo	$160,000	$150	52
1824 S 119th EastAvenue	0.30mi	3/2.0 (-1)	1,123 (+15%)	0mo	$174,000	$155	52
2203 S 124th EastAvenue	0.40mi	3/1.5 (-1)	1,100 (+13%)	3mo	$185,000	$168	51
12620 S 127th Ave E	0.52mi	3/1.0 (-1)	874 (-10%)	2mo	$86,500	$99	51
12444 E 13th St	0.54mi	3/1.0 (-1)	1,092 (+12%)	2mo	$115,000	$105	48
12820 E 14th St	0.48mi	3/1.0 (-1)	1,108 (+13%)	2mo	$160,000	$144	48
2509 S 126th East Ave	0.61mi	3/1.0 (-1)	876 (-10%)	2mo	$160,000	$183	48
12520 E 25th St	0.61mi	3/1.0 (-1)	1,082 (+11%)	2mo	$155,000	$143	47

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-20,010
• Equity at exit: $27,211

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-5,298
• Equity at exit: $15,779

Cash invested: $51,100 (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 74128

• Home prices YoY: -21.6%
• Active inventory: 38
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$957
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $151

Break-even live

Break-even rent $1,408

Max offer price $182,500

Occupancy floor 86%

Sensitivity live

Price	-10% $255	-5% $203	+0% $151	+5% $100	+10% $48
Rent	-10% $25	-5% $88	+0% $151	+5% $214	+10% $278
Rate	-1.0pp $243	-0.5pp $198	base $151	+0.5pp $104	+1.0pp $56

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: $45,625
• Closing costs: $5,475
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.0–2.0	950	$1,499	$1.58	3d	4	0.42mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.5–2.0	975	$1,439	$1.48	23d	4	0.42mi
2319 S 119th East Ave Tulsa, OK	3.0	1.0	990	$1,365	$1.38	25d	1	0.54mi
1433 S 107th East Ave Tulsa, OK	1.0–3.0	1.0–1.5	840	$1,199	$1.43	21d	3	0.98mi
2336 S 137th East Ave Tulsa, OK	1.0–3.0	1.0–2.0	1080	$1,499	$1.39	3d	1	1.03mi
2756 S 114th East Ave Tulsa, OK	3.0	2.0	1120	$1,650	$1.47	25d	1	1.07mi
1645 S 101st East Ave Tulsa, OK	1.0–3.0	1.0–2.0	1013	$1,899	$1.87	4d	35	1.34mi
10124 E 22nd St Tulsa, OK	3.0	2.0	1117	$1,350	$1.21	16d	1	1.36mi

Listing history 6 events

1. 2026-04-08
   status Pending
2. 2026-04-02
   price $182,500
3. 2026-03-13
   price $184,900
4. 2026-01-29
   price $189,900
5. 2025-11-03
   price $195,000
6. 2025-10-17
   listed $216,500 Active

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $1,642 · $137/mo
• Expected delta: +$690/yr (+$58/mo · 72.5%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,194
• − Mortgage interest: −$10,223
• − Property taxes: −$952
• − Insurance: −$912
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$5,309
• Taxable loss: −$1,273
• Est. tax savings @ 24.0%: +$306
• After-tax cash flow: $2,120/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: Tulsa
• NCES district ID: 4030240
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 12% ▼ -7.00%
• Median HH income: $37,895
• Composite: 8.04/100
• National rank: #9919
• State rank: #250 of 270 in OK

Livability — Tulsa

• Score: 75/100
• State rank: #13
• US rank: #4058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulsa, OK
• County: Tulsa County · 640,811 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 13,751
• Household income: $52,195
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 382.0

Population outlook (Tulsa County) Hauer SSP2

• Today (2025): 723,846 people
• By 2030: 766,033 · +5.8%
• By 2040: 851,386 · +17.6%
• By 2050: 938,389 · +29.6%
• By 2075: 1,166,011 · +61.1%
• By 2100: 1,350,277 · +86.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 38% Two or more races 23% Black 10% Asian 4% Native American 4%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 19% · Canada
• Languages at home: 59% English-only · Spanish 36% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Tulsa

• 2024 margin: R (+15.2) · D 41.3% · R 56.5% · Other 2.2%
• 2008→2024 swing: +9.2pp toward D · 2008: -24.5pp · 2024: -15.2pp
• All cycles: 2024: R+15.2 2020: R+15.6 2016: R+22.9 2012: R+27.4 2008: R+24.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.16%
• Current HPI: 240.6763
• Rent YoY: —
• Metro: Tulsa, 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

-15.7% since first listed

6 events — show timeline

• 2026-04-08 Pending — MLS Technology, Inc.
• 2026-04-02 Price Changed $182,500 MLS Technology, Inc.
• 2026-03-13 Price Changed $184,900 MLS Technology, Inc.
• 2026-01-29 Price Changed $189,900 MLS Technology, Inc.
• 2025-11-03 Price Changed $195,000 MLS Technology, Inc.
• 2025-10-17 Listed $216,500 MLS Technology, Inc.

Property tax history

+0.4%/yr

Latest (2025): $952 · +3.5% YoY. Source: county tax records.