2527 SW 38th St · Oklahoma City, OK 73119

$50,000

1 bd · 1.0 ba · 540 sqft · SingleFamily public records · 47 Days on market

Built 1947 7,000 sqft lot $93/sqft · 34% below area Est $75k · 34% under ↓ 15% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special! Cleared out and ready for your rehab. Come take a look at this great investment opportunity on the South West side of OKC. Perfect for creative financing play, traditional rental or flip.

Key facts

• 7,000 sq ft lot
• Built 1947
• Listed 46 days

Property features AI

Finance

• Other: Homestead not indicated; Property listed as active and unoccupied; Previous status: New Listing; Living area reported as 540 (assessor)
• Financial info: Not assumable
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One level; Residential property
• Construction: Frame construction; Composition roof; Conventional foundation; Built (existing)
• Exterior features: Interior lot

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Zoned heating; Window unit cooling
• Interior features: One living area; No fireplace; No study

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($801 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.1% 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: Esperanza Es (math 2% / reading 2%, grade F, #802 of 845 statewide, top 100%, 427 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 (+1.1%/yr); 95 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $346 of loan paydown is wiped out by about $2k 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 + 1.1% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1947 — 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: 1.60% ✓
• Cap rate: 14.07%
• Cash-on-cash: 27.78%
• DSCR: 2.24
• GRM: 5.2

CMA / ARV

• ARV (median comp): $75,348
• List price: $50,000
• Delta: -33.64%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3800 S Villa Ave	0.08mi	2/1.0 (+1)	576 (+7%)	15mo	$63,000	$109	68

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 · 1.13% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 1.79×
• Total profit: $11,048
• Equity at exit: $7,455

10-year hold

• IRR: 26.9%
• Equity multiple: 3.16×
• Total profit: $30,308
• Equity at exit: $4,323

Cash invested: $14,000 (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 73119

• Home prices YoY: -14.4%
• Rents YoY: 1.1%
• Active inventory: 95
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $801 high
• Mortgage (P&I): −$262
• Tax from tax record: −$25 /mo · $306/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $324

Break-even live

Break-even rent $391

Max offer price $50,000

Occupancy floor 55%

Sensitivity live

Price	-10% $352	-5% $338	+0% $324	+5% $310	+10% $296
Rent	-10% $261	-5% $292	+0% $324	+5% $356	+10% $387
Rate	-1.0pp $349	-0.5pp $337	base $324	+0.5pp $311	+1.0pp $298

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2813 SW 33rd St Oklahoma City, OK	1.0	1.0	600	$725	$1.21	44d	1	0.46mi
2119 SW 39th St Oklahoma City, OK	1.0–2.0	1.0	675	$660	$0.98	44d	1	0.50mi
4330 S Barnes Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	860	$775	$0.90	5d	9	0.59mi
3128 SW 27th St Oklahoma City, OK	2.0	1.0	740	$880	$1.19	3d	1	1.04mi
2116 SW 51st St Oklahoma City, OK	1.0	1.0	558	$675	$1.21	44d	1	1.05mi
2108 SW 51st St Unit 10 Oklahoma City, OK	1.0	1.0	400	$600	$1.50	44d	1	1.06mi
2108 SW 51st St Unit 3 Oklahoma City, OK	1.0	1.0	500	$800	$1.60	44d	1	1.06mi
2108 SW 51st St Unit 5 Oklahoma City, OK	1.0	1.0	500	$750	$1.50	44d	1	1.06mi
3120 S Woodward Ave Oklahoma City, OK	2.0	1.0	740	$800	$1.08	3d	1	1.13mi
1338 South Dr Oklahoma City, OK	2.0	1.0	720	$1,150	$1.60	17d	1	1.30mi
3708 S Douglas Ave Oklahoma City, OK	1.0	1.0	478	$722	$1.51	4d	1	1.35mi
3301 S Saint Clair Ave Oklahoma City, OK	2.0	1.0	560	$725	$1.29	3d	1	1.37mi
5901 S May Ave Oklahoma City, OK	1.0	1.0	607	$855	$1.41	44d	1	1.45mi
5901 S May Ave Apt 164 Oklahoma City, OK	1.0	1.0	607	$825	$1.36	24d	1	1.48mi
5901 S May Ave Apt 120 Oklahoma City, OK	1.0	1.0	607	$825	$1.36	44d	1	1.48mi
5901 S May Ave Apt 264 Oklahoma City, OK	1.0	1.0	527	$795	$1.51	3d	1	1.48mi
5901 S May Ave Apt 129 Oklahoma City, OK	1.0	1.0	527	$825	$1.57	3d	1	1.48mi
5901 S May Ave Unit 276 VLI Up Oklahoma City, OK	1.0	1.0	527	$875	$1.66	24d	1	1.48mi
5901 S May Ave Apt 179 Oklahoma City, OK	1.0	1.0	527	$779	$1.48	3d	1	1.48mi
5901 S May Ave Unit 279 VLI Oklahoma City, OK	1.0	1.0	527	$875	$1.66	44d	1	1.48mi
5901 S May Ave Apt 113 Oklahoma City, OK	1.0	1.0	607	$855	$1.41	3d	1	1.48mi

Listing history 15 events

1. 2026-06-21
   days on market $50,000 Active 47 DOM
2. 2026-06-18
   days on market $50,000 Active 44 DOM
3. 2026-06-17
   days on market $50,000 Active 43 DOM
4. 2026-06-16
   days on market $50,000 Active 42 DOM
5. 2026-06-15
   days on market $50,000 Active 41 DOM
6. 2026-06-13
   pricedays on market $50,000 Active 39 DOM
7. 2026-06-09
   days on market $55,000 Active 35 DOM
8. 2026-06-08
   days on market $55,000 Active 34 DOM
9. 2026-06-07
   days on market $55,000 Active 33 DOM
10. 2026-06-05
    days on market $55,000 Active 30 DOM
11. 2026-06-03
    days on market $55,000 Active 29 DOM
12. 2026-06-02
    days on market $55,000 Active 28 DOM
13. 2026-06-01
    days on market $55,000 Active 27 DOM
14. 2026-05-31
    days on market $55,000 Active 26 DOM
15. 2026-05-05
    listed $59,000 Active 205-char remark

ⓘ 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: $306 · $25/mo
• Projected year-2 tax: $450 · $37/mo
• Expected delta: +$144/yr (+$12/mo · 47.2%)

ⓘ 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) · 10% 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: $9,609
• − Mortgage interest: −$2,801
• − Property taxes: −$306
• − Insurance: −$250
• − Repairs & maintenance: −$769
• − Management: −$769
• − Depreciation: −$1,455
• Taxable income: $3,260
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $3,106/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): 30,398
• Household income: $45,421
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 1221.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 24% White 24% Native American 7% Black 6%
• Hispanic origin (detail): Mexican 58%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 45% English-only · Spanish 54%

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: ▼ -50.15%
• Current HPI: 297.1117
• Rent YoY: ▲ 1.13%
• 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

-15.3% since first listed

3 events — show timeline

• 2026-06-12 Price Changed $50,000 MLSOK
• 2026-05-29 Price Changed $55,000 MLSOK
• 2026-05-05 Listed $59,000 MLSOK

Property tax history

+4.2%/yr

Latest (2025): $306 · +3.6% YoY. Source: county tax records.