2815 SW 32nd St · Oklahoma City, OK 73119

$129,900

2 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 4 Days on market

Built 1935 7,501 sqft lot Est $140k · 7% 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 +13.1/30.0
• ARV discount +10.7/15.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Super cute house with a large, fenced yard. This gem boasts 2 or 3 bedrooms, has inside laundry, and a large patio. At a fantastic location, on a quiet street, close to I-44 and I-40.

Key facts

• Added carport
• Brand-new roof
• Oversized backyard

Tags

• BRAND-NEW ROOF
• ADDED CARPORT
• OVERSIZED BACKYARD
• EASY ACCESS TO HIGHWAYS
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-4 ($-45/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (16.6% below list).
• Recommended offer: $108k (16.6% 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); 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $898 of loan paydown is wiped out by about $4k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $100k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $108,283 (16.6% 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. Built in 1935 — 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. 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?
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: 0.83% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.12%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $139,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3013 SW 40th Pl	0.51mi	2/1.0	1,116 (+2%)	7mo	$120,000	$108	66
2912 SW 39th Ter	0.50mi	3/1.0 (+1)	1,079 (-1%)	5mo	$135,000	$125	66
2644 SW 25th St	0.49mi	2/1.0	1,050 (-4%)	9mo	$50,000	$48	64
2850 SW 40th St	0.55mi	3/1.0 (+1)	1,139 (+4%)	0mo	$149,900	$132	62
2828 SW 30th St	0.11mi	2/505.0	1,008 (-8%)	3mo	$110,000	$109	59
3200 S Stults Ave	0.73mi	3/1.0 (+1)	1,076 (-2%)	1mo	$137,800	$128	58
3520 S Parkview Ave	0.65mi	3/1.0 (+1)	1,068 (-2%)	5mo	$110,000	$103	57
3001 SW 26th St	0.47mi	3/1.0 (+1)	1,000 (-8%)	3mo	$147,000	$147	56
4021 S Drexel Ave	0.62mi	3/1.0 (+1)	1,038 (-5%)	8mo	$155,000	$149	51
2443 SW 28th St	0.51mi	3/1.5 (+1)	1,218 (+12%)	0mo	$184,000	$151	50
2325 SW Binkley St	0.60mi	3/1.0 (+1)	1,000 (-8%)	10mo	$156,000	$156	45
2644 SW 40th St	0.58mi	3/2.0 (+1)	992 (-9%)	6mo	$80,000	$81	44

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: -18.5%
• Equity multiple: 0.36×
• Total profit: $-23,294
• Equity at exit: $19,369

10-year hold

• IRR: -15.0%
• Equity multiple: 0.22×
• Total profit: $-28,524
• Equity at exit: $11,231

Cash invested: $36,372 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,083 high
• Mortgage (P&I): −$681
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-4

Break-even live

Break-even rent $1,088

Max offer price $129,243

Occupancy floor 95%

Sensitivity live

Price	-10% $70	-5% $33	+0% $-4	+5% $-40	+10% $-77
Rent	-10% $-89	-5% $-46	+0% $-4	+5% $39	+10% $82
Rate	-1.0pp $62	-0.5pp $29	base $-4	+0.5pp $-37	+1.0pp $-72

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2921 SW 28th St Oklahoma City, OK	3.0	1.0	1125	$1,490	$1.32	44d	1	0.34mi
2640 SW 38th St Oklahoma City, OK	3.0	2.0	944	$1,050	$1.11	3d	1	0.43mi
3128 SW 27th St Oklahoma City, OK	2.0	1.0	740	$880	$1.19	3d	1	0.56mi
2336 SW Grand Blvd Oklahoma City, OK	2.0	1.0	770	$995	$1.29	44d	1	0.64mi
2612 SW 41st St Oklahoma City, OK	3.0	1.0	1164	$1,200	$1.03	24d	1	0.65mi
3120 S Woodward Ave Oklahoma City, OK	2.0	1.0	740	$800	$1.08	3d	1	0.70mi
3430 SW 29th Pl Unit 3430 Oklahoma City, OK	3.0	1.0	760	$850	$1.12	44d	1	0.81mi
2140 SW 35th St Oklahoma City, OK	3.0	2.0	976	$1,300	$1.33	44d	1	0.83mi
3500 SW 29th Pl Oklahoma City, OK	2.0	1.0	800	$695	$0.87	44d	1	0.88mi
2119 SW 39th St Oklahoma City, OK	1.0–2.0	1.0	675	$909	$1.35	44d	1	0.92mi
3100 Dumas Ln Apt 28 Oklahoma City, OK	2.0	1.0	800	$695	$0.87	18d	1	0.93mi
2922 SW 19th St Oklahoma City, OK	3.0	1.0	1056	$1,350	$1.28	3d	1	0.94mi
2125 SW 26th St Unit B Oklahoma City, OK	1.0	1.0	800	$700	$0.88	24d	1	0.94mi
3200 SW 20th St Oklahoma City, OK	3.0	1.0	1032	$1,000	$0.97	21d	1	1.00mi
2128 SW 41st St Oklahoma City, OK	2.0	1.0	860	$820	$0.95	3d	1	1.01mi
3416 S Liberty Ave Oklahoma City, OK	3.0	2.0	1400	$1,195	$0.85	4d	1	1.03mi
4330 S Barnes Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	860	$937	$1.09	5d	9	1.07mi
2741 SW Murray Dr Oklahoma City, OK	3.0	1.0	949	$1,395	$1.47	3d	1	1.08mi
2904 S Portland Ave Oklahoma City, OK	3.0	1.0	1000	$1,150	$1.15	44d	1	1.12mi
2500 SW 48th St Oklahoma City, OK	2.0	1.0	1096	$1,050	$0.96	44d	1	1.13mi
2801 SW 51st St Oklahoma City, OK	2.0	1.0	840	$1,025	$1.22	3d	1	1.24mi
1345 SW 27th St Oklahoma City, OK	3.0	2.0	1153	$1,095	$0.95	3d	1	1.35mi
3705 SW 44th St Oklahoma City, OK	3.0	2.0	1224	$1,541	$1.26	3d	1	1.35mi
1329 SW Grand Blvd Oklahoma City, OK	2.0	1.0	858	$1,050	$1.22	44d	1	1.35mi
3800 SW 42nd St Oklahoma City, OK	2.0	1.0	790	$895	$1.13	44d	1	1.39mi
3801 SW 43rd St Oklahoma City, OK	2.0	1.0	720	$925	$1.28	44d	1	1.41mi
2741 SW 54th Pl Oklahoma City, OK	3.0	2.0	1059	$1,249	$1.18	3d	1	1.46mi
2945 SW 54th St Oklahoma City, OK	3.0	1.5	1424	$1,295	$0.91	44d	1	1.47mi
3912 SW 25th St Oklahoma City, OK	3.0	1.0	744	$695	$0.93	5d	1	1.48mi
3937 SW 27th Pl Oklahoma City, OK	3.0	1.0	720	$1,079	$1.50	5d	1	1.48mi

Listing history 11 events

1. 2026-01-12
   status Pending
2. 2026-01-06
   listed $129,900 Active
3. 2025-12-23
   historical
4. 2025-08-19
   status Active
5. 2025-07-18
   status Pending
6. 2025-07-18
   price $134,999
7. 2025-07-01
   listed $119,999 Active
8. 2024-05-31
   soldstatus $100,000
9. 2024-05-21
   soldstatus $100,000 Closed 183-char remark

   Show marketing remark (183 chars)

   Super cute house with a large, fenced yard. This gem boasts 2 or 3 bedrooms, has inside laundry, and a large patio. At a fantastic location, on a quiet street, close to I-44 and I-40.

10. 2024-04-29
    status Pending 183-char remark

    Show marketing remark (183 chars)

    Super cute house with a large, fenced yard. This gem boasts 2 or 3 bedrooms, has inside laundry, and a large patio. At a fantastic location, on a quiet street, close to I-44 and I-40.

11. 2024-04-26
    listed $105,000 Active 183-char remark

    Show marketing remark (183 chars)

    Super cute house with a large, fenced yard. This gem boasts 2 or 3 bedrooms, has inside laundry, and a large patio. At a fantastic location, on a quiet street, close to I-44 and I-40.

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $1,486 · $124/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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,994
• − Mortgage interest: −$7,276
• − Property taxes: −$1,486
• − Insurance: −$650
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,779
• Taxable loss: −$2,276
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $502/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

+23.7% since first listed

11 events — show timeline

• 2026-01-12 Pending — MLSOK
• 2026-01-06 Listed $129,900 MLSOK
• 2025-12-23 Listing Removed — MLSOK
• 2025-08-19 Relisted — MLSOK
• 2025-07-18 Pending — MLSOK
• 2025-07-18 Price Changed $134,999 MLSOK
• 2025-07-01 Listed $119,999 MLSOK
• 2024-05-31 Sold (Public Records) $100,000 Public Records
• 2024-05-21 Sold (MLS) $100,000 MLSOK
• 2024-04-29 Pending — MLSOK
• 2024-04-26 Listed $105,000 MLSOK

Property tax history

+11.8%/yr

Latest (2025): $1,486 · +141.2% YoY. Source: county tax records.