4550 S 23rd West Ave · Tulsa, OK 74107

$135,000

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 5 Days on market

Built 1955 7,560 sqft lot Est $150k · 10% under

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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 +17.0/30.0
• ARV discount +11.9/15.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming bungalow could be your new home! Great starter home or investment property is move-in ready with new carpet & fresh paint. Kitchen & bathroom are updated with new tile floors & countertops. Brand new stove & dishwasher stay with the home. Separate utility room with washer/dryer hook ups & plenty of attic space. Single-car garage with new garage door. Front & back yards have plenty of space for you to entertain family & friends. One year warranty by seller gives you peace of mind.

Key facts

• Single car garage
• Spacious living area
• Large front yard

Tags

• BUNGALOW
• SPACIOUS LIVING AREA
• UTILITY LAUNDRY ROOM
• ABUNDANT ATTIC STORAGE
• SINGLE CAR GARAGE
• LARGE FRONT YARD

Property features AI

Finance

• HOA & community: Gutters noted as a community/feature item

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s); No safety shelter
• Utilities: Cable available; Electricity available; Natural gas available; High-speed internet available; Public water; Public sewer
• Home design: Single-story home; Faces east; Crawlspace foundation
• Construction: Shake, vinyl and wood siding on wood frame construction; Asphalt/fiberglass roof
• Exterior features: Concrete driveway; Rain gutters; Patio; Chain link full fencing

Interior

• Kitchen: Refrigerator; Oven / Range / Stove; Dishwasher
• Bedrooms: Master bedroom on the first floor; Two additional bedrooms on the first floor (no attached baths)
• Flooring: Carpet; Tile
• Bathrooms: One full hall bathroom with bathtub
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Vinyl, insulated and storm windows; Laminate counters; Ceiling fan(s); Electric oven connection; Gas range connection; Programmable thermostat
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room in/near garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/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 (9.4% below list).
• Recommended offer: $122k (9.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: Rents flat; 99 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $96k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,268 (9.4% below list)

Questions for the listing agent

1. Built in 1955 — 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. 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?
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: 0.91% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.90%
• DSCR: 1.13
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $149,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1934 W 46th Pl	0.16mi	3/1.0	912 (-3%)	2mo	$143,000	$157	87
2114 W 45th Pl	0.08mi	3/1.0	912 (-3%)	6mo	$80,000	$88	86
4928 S 24th WestPlace	0.40mi	3/1.0	936 (0%)	1mo	$135,000	$144	81
4532 S Xenophon Ave	0.17mi	2/1.0 (-1)	900 (-4%)	6mo	$150,000	$167	76
1908 W 47th Pl	0.26mi	3/1.0	888 (-5%)	6mo	$132,000	$149	75
4602 S 29th WestAvenue	0.40mi	2/1.0 (-1)	955 (+2%)	2mo	$138,000	$145	71
4634 S Vancouver Ave	0.29mi	2/1.0 (-1)	880 (-6%)	7mo	$150,000	$170	66
2312 W 47th Pl	0.18mi	2/1.0 (-1)	842 (-10%)	6mo	$149,000	$177	65
4727 S 33 WestAvenue	0.65mi	3/1.0	918 (-2%)	6mo	$60,000	$65	62
4248 S 25th West Ave	0.33mi	2/1.0 (-1)	1,034 (+10%)	2mo	$165,000	$160	61
5028 S 29th West Ave	0.59mi	3/2.0	1,034 (+10%)	0mo	$207,000	$200	51
4016 S 23rd West Ave	0.56mi	2/1.0 (-1)	820 (-12%)	0mo	$150,000	$183	48

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 · 0.78% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.50×
• Total profit: $-18,745
• Equity at exit: $20,129

10-year hold

• IRR: -9.2%
• Equity multiple: 0.49×
• Total profit: $-19,387
• Equity at exit: $11,672

Cash invested: $37,800 (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 74107

• Home prices YoY: -15.3%
• Rents YoY: 0.8%
• Active inventory: 99
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,223 high
• Mortgage (P&I): −$708
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $91

Break-even live

Break-even rent $1,107

Max offer price $135,000

Occupancy floor 88%

Sensitivity live

Price	-10% $168	-5% $130	+0% $91	+5% $53	+10% $15
Rent	-10% $-5	-5% $43	+0% $91	+5% $140	+10% $188
Rate	-1.0pp $159	-0.5pp $126	base $91	+0.5pp $56	+1.0pp $21

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1913 W 50th St Tulsa, OK	3.0	2.0	1082	$1,195	$1.10	25d	1	0.47mi
4831 S 30th West Ave Tulsa, OK	2.0	1.0	748	$1,250	$1.67	4d	1	0.55mi
5031 S 30th West Ave Tulsa, OK	2.0	1.0	987	$1,095	$1.11	23d	1	0.63mi
4847 S 32nd West Ave Tulsa, OK	3.0	1.0	876	$1,200	$1.37	17d	1	0.67mi
4128 S 32nd West Ave Tulsa, OK	3.0	1.0	957	$1,175	$1.23	3d	1	0.75mi
3722 W 44th St Tulsa, OK	3.0	1.0	1043	$1,150	$1.10	3d	1	0.97mi
4956 S Maybelle Ave Tulsa, OK	3.0	1.0	933	$1,395	$1.50	16d	1	0.99mi
3743 W 42nd Pl Tulsa, OK	2.0	1.0	856	$1,000	$1.17	3d	1	1.04mi
4008 W 55th St Tulsa, OK	3.0	1.0	1118	$1,150	$1.03	3d	1	1.42mi

Listing history 5 events

1. 2026-06-05
   status $135,000 Pending 5 DOM
2. 2026-06-03
   days on market $135,000 Active 5 DOM
3. 2026-06-02
   days on market $135,000 Active 4 DOM
4. 2026-06-01
   days on market $135,000 Active 3 DOM
5. 2026-05-31
   days on market $135,000 Active 2 DOM

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,672
• − Mortgage interest: −$7,562
• − Property taxes: −$1,324
• − Insurance: −$675
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$3,927
• Taxable loss: −$1,164
• Est. tax savings @ 24.0%: +$279
• After-tax cash flow: $1,376/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): 19,013
• Household income: $53,505
• Rent vs Own: 44.5% rent · 55.5% own
• Severe rent burden: 667.0

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 0.63)
• Race & ethnicity: White 59% Two or more races 18% Hispanic / Latino 11% Black 8% Native American 6% Pacific Islander 2% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 90% English-only · Spanish 7% Other Asian/Pacific 2%

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: ▼ -42.46%
• Current HPI: 235.2296
• Rent YoY: ▲ 0.78%
• 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

+1198.1% since first listed

8 events — show timeline

• 2026-05-28 Listed $135,000 MLS Technology, Inc.
• 2021-12-22 Sold (Public Records) $96,000 Public Records
• 2021-12-17 Sold (MLS) $96,000 MLS Technology, Inc.
• 2021-11-16 Pending — MLS Technology, Inc.
• 2021-11-11 Listed $95,000 MLS Technology, Inc.
• 2019-06-21 Sold (MLS) $18,555 MLS Technology, Inc.
• 2019-06-05 Pending — MLS Technology, Inc.
• 2019-05-17 Listed $10,400 MLS Technology, Inc.

Property tax history

+5.6%/yr

Latest (2025): $1,324 · +6.9% YoY. Source: county tax records.