1618 NW 3rd St · Oklahoma City, OK 73106

$88,000

2 bd · 1.0 ba · 732 sqft · Other public records · 139 Days on market

Built 1910 7,000 sqft lot $120/sqft · 21% below area Est $112k · 21% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is located 2 MINUTES FROM DOWNTOWN OKC, offers a unique opportunity to create a great living space or a rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

Key facts

• Completely gutted
• 7,000 sq ft lot
• Pool

Tags

• 2 MINUTES FROM DOWNTOWN OKC
• COMPLETELY GUTTED
• BLANK SLATE FOR RENOVATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $88k.

Deal economics

• At list price, monthly cash flow is $282 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: 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 (+2.9%/yr); 167 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $608 of loan paydown is wiped out by about $3k 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 + 2.9% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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 $56k; list at $88k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $77,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 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 1910 — 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. 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.
8. 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.
9. 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: 10.14%
• Cash-on-cash: 13.73%
• DSCR: 1.61
• GRM: 7.3

CMA / ARV

• ARV (median comp): $111,587
• List price: $88,000
• Delta: -21.14%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.93% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $3,580
• Equity at exit: $13,121

10-year hold

• IRR: 13.2%
• Equity multiple: 2.05×
• Total profit: $25,774
• Equity at exit: $7,609

Cash invested: $24,640 (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 73106

• Home prices YoY: -34.8%
• Rents YoY: 2.9%
• Active inventory: 167
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,009 high
• Mortgage (P&I): −$461
• Tax from tax record: −$17 /mo · $206/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $282

Break-even live

Break-even rent $652

Max offer price $88,000

Occupancy floor 67%

Sensitivity live

Price	-10% $332	-5% $307	+0% $282	+5% $257	+10% $232
Rent	-10% $202	-5% $242	+0% $282	+5% $322	+10% $362
Rate	-1.0pp $326	-0.5pp $304	base $282	+0.5pp $259	+1.0pp $236

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 N Kentucky Ave Unit 2 Oklahoma City, OK	2.0	1.0	540	$850	$1.57	44d	1	0.50mi
1740 NW 11th St Unit A Oklahoma City, OK	2.0	1.0	750	$945	$1.26	15d	1	0.66mi
1740 NW 11th St Oklahoma City, OK	1.0	1.0	650	$970	$1.49	44d	1	0.66mi
1149 N McKinley Ave Unit A Oklahoma City, OK	2.0	1.0	684	$640	$0.94	4d	1	0.71mi
1840 NW 12th St Unit Back Lower Oklahoma City, OK	1.0	1.0	500	$550	$1.10	44d	1	0.72mi
1610 NW 11th St Unit B Oklahoma City, OK	1.0	1.0	600	$750	$1.25	44d	1	0.73mi
1412 NW 11th St Unit D Oklahoma City, OK	1.0	1.0	615	$675	$1.10	4d	1	0.78mi
1412 NW 11th St Unit B Oklahoma City, OK	1.0	1.0	615	$695	$1.13	44d	1	0.78mi
1119 NW 9th St Unit A Oklahoma City, OK	1.0	1.0	750	$795	$1.06	4d	1	0.79mi
1630 NW 13th St #3 Oklahoma City, OK	1.0	1.0	600	$900	$1.50	4d	1	0.82mi
1630 NW 13th St Oklahoma City, OK	1.0	1.0	600	$900	$1.50	12d	2	0.82mi
1312 NW 12th St Oklahoma City, OK	1.0	2.0	697	$850	$1.22	44d	1	0.86mi
835 W Sheridan Ave Oklahoma City, OK	3.0	1.0–2.0	992	$2,271	$2.29	2d	19	0.90mi
700 NW 4th St Oklahoma City, OK	2.0	1.0–2.0	743	$2,094	$2.82	2d	14	0.94mi
2308 NW 12th St Unit 3 Oklahoma City, OK	1.0	1.0	468	$700	$1.50	44d	1	0.95mi
2325 NW 12th St Unit C Oklahoma City, OK	2.0	1.0	736	$899	$1.22	17d	1	1.00mi
1201 N Francis Ave Oklahoma City, OK	1.0	1.0–1.5	769	$1,388	$1.80	4d	4	1.04mi
2436 NW 12th St Unit 1211 Oklahoma City, OK	1.0	1.0	684	$850	$1.24	22d	1	1.09mi
1126 N Shartel Ave Oklahoma City, OK	1.0	1.0	425	$1,000	$2.35	15d	3	1.09mi
2531 W Park Pl Oklahoma City, OK	1.0	1.0	716	$725	$1.01	4d	1	1.10mi
1624 NW 17th St Unit 301 Oklahoma City, OK	1.0	1.0	692	$1,470	$2.12	3d	1	1.11mi
1614 NW 17th St Unit 8 Oklahoma City, OK	1.0	1.0	628	$1,395	$2.22	4d	1	1.12mi
2526 1/2 NW 12th St Oklahoma City, OK	1.0	1.0	715	$900	$1.26	44d	1	1.15mi
901 NW 13th St Unit 107 Oklahoma City, OK	1.0	1.0	700	$695	$0.99	11d	1	1.16mi
516 NW 8th St Oklahoma City, OK	1.0	1.0	476	$1,600	$3.36	44d	16	1.18mi
1305 Classen Dr Oklahoma City, OK	1.0–3.0	1.0–3.5	1677	$3,548	$2.11	4d	7	1.22mi
1800 Exchange Ave Unit 1/2 Oklahoma City, OK	1.0	2.0	550	$725	$1.32	24d	1	1.25mi
1210 NW 18th St Unit A Oklahoma City, OK	1.0	1.0	750	$950	$1.27	44d	1	1.29mi
333 NW 5th St Oklahoma City, OK	2.0	1.0–2.0	642	$1,430	$2.23	2d	14	1.31mi
1323 S Blackwelder Ave Oklahoma City, OK	2.0	1.0	651	$1,095	$1.68	44d	1	1.33mi
2645 NW 13th St Unit A Oklahoma City, OK	1.0	1.0	700	$600	$0.86	22d	1	1.35mi
1212 N Walker Ave Oklahoma City, OK	1.0	1.0	710	$1,600	$2.25	44d	1	1.36mi
1924 N Cross Ave Oklahoma City, OK	1.0	1.0	624	$950	$1.52	24d	1	1.38mi
2330 NW 19th St Unit 1924 Oklahoma City, OK	1.0	1.0	624	$950	$1.52	24d	1	1.39mi
1325 N Walker Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	972	$1,802	$1.85	2d	22	1.40mi
710 NW 17th St Oklahoma City, OK	2.0	1.0	750	$1,000	$1.33	44d	1	1.45mi
700 NW 17th St Unit Mesta 700/5 Oklahoma City, OK	2.0	1.0	750	$995	$1.33	12d	1	1.47mi
700 NW 17th St Unit Mesta 710/9 Oklahoma City, OK	1.0	1.0	600	$800	$1.33	4d	1	1.47mi
1803 NW 22nd St Oklahoma City, OK	1.0	1.0	500	$650	$1.30	44d	1	1.49mi
1629 NW 22nd St Unit 202 Oklahoma City, OK	1.0	1.0	750	$845	$1.13	16d	1	1.50mi

Listing history 23 events

1. 2026-06-18
   days on market $88,000 Active 139 DOM
2. 2026-06-17
   days on market $88,000 Active 138 DOM
3. 2026-06-16
   days on market $88,000 Active 137 DOM
4. 2026-06-15
   days on market $88,000 Active 136 DOM
5. 2026-06-13
   days on market $88,000 Active 134 DOM
6. 2026-06-09
   days on market $88,000 Active 130 DOM
7. 2026-06-08
   days on market $88,000 Active 129 DOM
8. 2026-06-07
   days on market $88,000 Active 128 DOM
9. 2026-06-05
   days on market $88,000 Active 125 DOM
10. 2026-06-03
    days on market $88,000 Active 124 DOM
11. 2026-06-02
    days on market $88,000 Active 123 DOM
12. 2026-06-01
    days on market $88,000 Active 122 DOM
13. 2026-05-31
    days on market $88,000 Active 121 DOM
14. 2026-01-22
    listed $88,000 Active 253-char remark

    Show marketing remark (253 chars)

    This property is located 2 MINUTES FROM DOWNTOWN OKC, offers a unique opportunity to create a great living space or a rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

15. 2024-12-06
    soldstatus $56,500
16. 2024-12-03
    soldstatus $56,500 Closed 309-char remark

    Show marketing remark (309 chars)

    Are you ready to seize a remarkable investment opportunity? This property, located 2 MINUTES FROM DOWNTOWN OKC, offers a unique chance to create a customized living space or rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

17. 2024-11-12
    status Pending 309-char remark

    Show marketing remark (309 chars)

    Are you ready to seize a remarkable investment opportunity? This property, located 2 MINUTES FROM DOWNTOWN OKC, offers a unique chance to create a customized living space or rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

18. 2024-10-21
    price $63,000 309-char remark

    Show marketing remark (309 chars)

    Are you ready to seize a remarkable investment opportunity? This property, located 2 MINUTES FROM DOWNTOWN OKC, offers a unique chance to create a customized living space or rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

19. 2024-10-01
    price $64,888 309-char remark

    Show marketing remark (309 chars)

    Are you ready to seize a remarkable investment opportunity? This property, located 2 MINUTES FROM DOWNTOWN OKC, offers a unique chance to create a customized living space or rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

20. 2024-07-26
    listed $69,999 Active 309-char remark

    Show marketing remark (309 chars)

    Are you ready to seize a remarkable investment opportunity? This property, located 2 MINUTES FROM DOWNTOWN OKC, offers a unique chance to create a customized living space or rental property from the ground up. The interior has been completely gutted, providing a blank slate for your renovation dreams. AS-IS.

21. 2017-11-07
    soldstatus $35,000
22. 2007-12-26
    soldstatus $8,000
23. 1989-09-05
    soldstatus $7,411

ⓘ 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: $206 · $17/mo
• Projected year-2 tax: $792 · $66/mo
• Expected delta: +$586/yr (+$49/mo · 283.6%)

ⓘ 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: $12,110
• − Mortgage interest: −$4,929
• − Property taxes: −$206
• − Insurance: −$440
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$2,560
• Taxable income: $2,036
• Est. tax owed @ 24.0%: −$489
• After-tax cash flow: $2,894/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): 12,140
• Household income: $60,205
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 892.0

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 0.67)
• Race & ethnicity: White 50% Hispanic / Latino 27% Two or more races 15% Black 7% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Scottish 3% Lithuanian 2% Slovak 2%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 71% English-only · Spanish 21% German/W. Germanic 3% Vietnamese 2%

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: ▼ -237.74%
• Current HPI: 445.1464
• Rent YoY: ▲ 2.93%
• 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

+1087.4% since first listed

10 events — show timeline

• 2026-01-22 Listed $88,000 MLSOK
• 2024-12-06 Sold (Public Records) $56,500 Public Records
• 2024-12-03 Sold (MLS) $56,500 MLSOK
• 2024-11-12 Pending — MLSOK
• 2024-10-21 Price Changed $63,000 MLSOK
• 2024-10-01 Price Changed $64,888 MLSOK
• 2024-07-26 Listed $69,999 MLSOK
• 2017-11-07 Sold (Public Records) $35,000 Public Records
• 2007-12-26 Sold (Public Records) $8,000 Public Records
• 1989-09-05 Sold (Public Records) $7,411 Public Records

Property tax history

-5.9%/yr

Latest (2025): $206 · -0.8% YoY. Source: county tax records.