3137 Wilshire Ter · Oklahoma City, OK 73116

$249,000

3 bd · 2.0 ba · 2,309 sqft · SingleFamily public records · 185 Days on market

Built 1959 9,853 sqft lot $108/sqft · 27% below area Est $273k · 9% under

---

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 +13.3/30.0
• ARV discount +11.5/15.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the potential of 3137 Wilshire Terrace, a classic ranch-style home in the sought-after Wilshire Estates neighborhood. This spacious 2,309 sq ft residence sits on a generous lot and offers three bedrooms, two bathrooms, and a large living area with a cozy fireplace. This property is ready for your vision! It needs remodeling throughout, making it an ideal opportunity for buyers looking to customize their dream home. The layout features a functional flow between living, dining, and kitchen spaces, and the attached two-car garage adds convenience. Neighborhood Features: • Peaceful, tree-lined streets and a friendly, welcoming community atmosphere • Convenient access to shopping centers, restaurants, and entertainment just minutes away • Nearby Lake Hefner recreational areas for outdoor activities, jogging, and family fun • Highly-rated schools serving the area, making it great for families • Easy access to major highways for a quick commute to downtown Oklahoma City and beyond • Close proximity to local cafes and supermarkets for daily errands Located near schools, parks, and city amenities, this home is full of promise and waiting for the right buyer to bring it back to life. Don’t miss your chance to transform this Wilshire Estates gem into your dream home

Key facts

• Highly-rated schools
• Ranch-style home
• 9,853 sq ft lot

Tags

• RANCH-STYLE HOME
• ATTACHED TWO-CAR GARAGE
• LAKE HEFNER RECREATIONAL AREAS
• HIGHLY-RATED SCHOOLS
• EASY ACCESS TO MAJOR HIGHWAYS
• CLOSE PROXIMITY TO LOCAL CAFES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $249k.

Deal economics

• At list price, monthly cash flow is $0 ($-2/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (18.0% below list).
• Recommended offer: $204k (18.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Emerson Alternative Ed. (Es) (math 24% / reading 24%, grade F, #354 of 845 statewide, top 47%, 64 students, 0% FRL); Classen Ms of Advanced Studies (math 35% / reading 46%, grade F, #6 of 345 statewide, top 1%, 855 students, 0% FRL); Southeast Hs (math 8% / reading 17%, grade F, #355 of 447 statewide, top 80%, 854 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.
• Zoned-school proficiency averages 26% at this address vs 8% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Oklahoma City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.3%/yr); 140 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 30% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 185 days — a 12% lower offer ($219k) 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.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $204,261 (18.0% 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 185 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.00%
• DSCR: 1.00
• GRM: 10.2

CMA / ARV

• ARV (median comp): $273,129
• List price: $249,000
• Delta: -8.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3124 N Elmwood Ave	0.11mi	3/2.0	2,218 (-4%)	6mo	$255,000	$115	83
3025 Hemingford Ln	0.20mi	4/2.5 (+1)	2,564 (+11%)	3mo	$361,000	$141	62
3128 NW 69th St	0.57mi	3/2.0	2,185 (-5%)	7mo	$430,000	$197	59
2550 W Wilshire Blvd	0.71mi	3/2.0	2,215 (-4%)	7mo	$625,000	$282	54
3125 NW 70th St	0.48mi	3/3.0	2,044 (-12%)	1mo	$320,000	$157	53
2801 Clermont Pl	0.61mi	3/3.0	2,155 (-7%)	5mo	$235,000	$109	53
2900 Wilton Ln	0.52mi	4/2.5 (+1)	2,195 (-5%)	10mo	$375,000	$171	52
2625 Somerset Pl	0.62mi	4/4.0 (+1)	2,335 (+1%)	9mo	$545,000	$233	49
3025 Lansdowne Ln	0.29mi	4/3.0 (+1)	2,647 (+15%)	7mo	$625,000	$236	48
2624 Dorchester Dr	0.73mi	3/3.0	2,485 (+8%)	5mo	$610,000	$245	45
6901 Reed Dr	0.67mi	3/2.0	2,014 (-13%)	9mo	$319,900	$159	40
3628 NW 70th St	0.75mi	3/2.5	1,966 (-15%)	8mo	$305,000	$155	32

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 · 4.27% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-37,752
• Equity at exit: $37,127

10-year hold

• IRR: -4.5%
• Equity multiple: 0.69×
• Total profit: $-21,899
• Equity at exit: $21,529

Cash invested: $69,720 (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 73116

• Rents YoY: 4.3%
• Active inventory: 140
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,043 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$204 /mo · $2,452/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $-0

Break-even live

Break-even rent $2,043

Max offer price $248,970

Occupancy floor 95%

Sensitivity live

Price	-10% $141	-5% $70	+0% $0	+5% $-71	+10% $-141
Rent	-10% $-162	-5% $-81	+0% $0	+5% $81	+10% $161
Rate	-1.0pp $125	-0.5pp $63	base $0	+0.5pp $-65	+1.0pp $-130

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7900 Lakehurst Dr Oklahoma City, OK	3.0	2.0	2525	$1,950	$0.77	3d	1	0.11mi
3229 NW 68th St Oklahoma City, OK	3.0	2.0	1714	$2,225	$1.30	12d	1	0.61mi
3106 NW 63rd St Oklahoma City, OK	3.0	2.0	1736	$1,650	$0.95	25d	1	0.95mi
3333 NW 62nd St Oklahoma City, OK	2.0	2.0	1780	$2,000	$1.12	19d	1	1.02mi
3213 NW 61st Pl Oklahoma City, OK	3.0	2.0	1777	$2,095	$1.18	4d	1	1.03mi
6162 N Brookline Ave #22 Oklahoma City, OK	2.0	2.0	1626	$2,500	$1.54	6d	1	1.10mi
3908 NW 68th St Oklahoma City, OK	3.0	2.0	1935	$1,695	$0.88	23d	1	1.17mi
1710 Dorchester Dr Nichols Hills, OK	3.0	2.5	2640	$3,900	$1.48	4d	1	1.24mi
6913 N Spinnaker Ln Oklahoma City, OK	3.0	2.0	2046	$1,695	$0.83	4d	1	1.24mi
4020 Versailles Blvd Oklahoma City, OK	2.0–3.0	2.0–2.5	1500	$2,070	$1.38	3d	5	1.28mi
2608 Abbey Rd Oklahoma City, OK	3.0	2.0	1737	$1,800	$1.04	4d	1	1.32mi
2520 NW 62nd St Oklahoma City, OK	3.0	2.0	1950	$1,700	$0.87	45d	1	1.33mi
2518 NW 62nd St Oklahoma City, OK	3.0	2.0	1953	$1,695	$0.87	45d	1	1.34mi
6300 N Villa Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	1383	$1,518	$1.10	45d	1	1.37mi
1705 Carlisle Rd Oklahoma City, OK	3.0	1.5	1696	$1,595	$0.94	21d	1	1.49mi

Listing history 4 events

1. 2026-05-31
   days on market $249,000 Active 185 DOM
2. 2026-02-06
   status Active 1324-char remark

   Show marketing remark (1324 chars)

   Discover the potential of 3137 Wilshire Terrace, a classic ranch-style home in the sought-after Wilshire Estates neighborhood. This spacious 2,309 sq ft residence sits on a generous lot and offers three bedrooms, two bathrooms, and a large living area with a cozy fireplace. This property is ready for your vision! It needs remodeling throughout, making it an ideal opportunity for buyers looking to customize their dream home. The layout features a functional flow between living, dining, and kitchen spaces, and the attached two-car garage adds convenience. Neighborhood Features: • Peaceful, tree-lined streets and a friendly, welcoming community atmosphere • Convenient access to shopping centers, restaurants, and entertainment just minutes away • Nearby Lake Hefner recreational areas for outdoor activities, jogging, and family fun • Highly-rated schools serving the area, making it great for families • Easy access to major highways for a quick commute to downtown Oklahoma City and beyond • Close proximity to local cafes and supermarkets for daily errands Located near schools, parks, and city amenities, this home is full of promise and waiting for the right buyer to bring it back to life. Don’t miss your chance to transform this Wilshire Estates gem into your dream home

3. 2026-01-20
   status Pending 1324-char remark

   Show marketing remark (1324 chars)

   Discover the potential of 3137 Wilshire Terrace, a classic ranch-style home in the sought-after Wilshire Estates neighborhood. This spacious 2,309 sq ft residence sits on a generous lot and offers three bedrooms, two bathrooms, and a large living area with a cozy fireplace. This property is ready for your vision! It needs remodeling throughout, making it an ideal opportunity for buyers looking to customize their dream home. The layout features a functional flow between living, dining, and kitchen spaces, and the attached two-car garage adds convenience. Neighborhood Features: • Peaceful, tree-lined streets and a friendly, welcoming community atmosphere • Convenient access to shopping centers, restaurants, and entertainment just minutes away • Nearby Lake Hefner recreational areas for outdoor activities, jogging, and family fun • Highly-rated schools serving the area, making it great for families • Easy access to major highways for a quick commute to downtown Oklahoma City and beyond • Close proximity to local cafes and supermarkets for daily errands Located near schools, parks, and city amenities, this home is full of promise and waiting for the right buyer to bring it back to life. Don’t miss your chance to transform this Wilshire Estates gem into your dream home

4. 2025-11-09
   listed $249,000 Active 1324-char remark

   Show marketing remark (1324 chars)

   Discover the potential of 3137 Wilshire Terrace, a classic ranch-style home in the sought-after Wilshire Estates neighborhood. This spacious 2,309 sq ft residence sits on a generous lot and offers three bedrooms, two bathrooms, and a large living area with a cozy fireplace. This property is ready for your vision! It needs remodeling throughout, making it an ideal opportunity for buyers looking to customize their dream home. The layout features a functional flow between living, dining, and kitchen spaces, and the attached two-car garage adds convenience. Neighborhood Features: • Peaceful, tree-lined streets and a friendly, welcoming community atmosphere • Convenient access to shopping centers, restaurants, and entertainment just minutes away • Nearby Lake Hefner recreational areas for outdoor activities, jogging, and family fun • Highly-rated schools serving the area, making it great for families • Easy access to major highways for a quick commute to downtown Oklahoma City and beyond • Close proximity to local cafes and supermarkets for daily errands Located near schools, parks, and city amenities, this home is full of promise and waiting for the right buyer to bring it back to life. Don’t miss your chance to transform this Wilshire Estates gem into your dream home

ⓘ 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: $2,452 · $204/mo
• Projected year-2 tax: $2,452 · $204/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,511
• − Mortgage interest: −$13,948
• − Property taxes: −$2,452
• − Insurance: −$1,245
• − Repairs & maintenance: −$1,961
• − Management: −$1,961
• − Depreciation: −$7,244
• Taxable loss: −$4,299
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $1,030/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): 10,211
• Household income: $81,226
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 262.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 14% Hispanic / Latino 8% Black 5% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 7% · Canada, South Korea, Philippines
• Languages at home: 90% English-only · Spanish 6% Other Asian/Pacific 2% Arabic 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: ▼ -260.29%
• Current HPI: 258.0304
• Rent YoY: ▲ 4.27%
• 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

• 2026-02-06 Relisted — MLSOK
• 2026-01-20 Pending — MLSOK
• 2025-11-09 Listed $249,000 MLSOK

Property tax history

+3.6%/yr

Latest (2025): $2,452 · +2.3% YoY. Source: county tax records.