204 N Elm St · Sapulpa, OK 74066

$110,000

3 bd · 1.0 ba · 1,298 sqft · SingleFamily · 4 Days on market

Built 1976 0.45 ac lot Est $153k · 28% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This is an investment property being offered in as-is condition. Seller will not perform any repairs or provide debris removal.

Key facts

• 0.45 acre lot
• Garage
• Built 1976

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 9.5% vs local median 2.8% in Sapulpa — 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 67/100 on livability (#88 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Sapulpa (suburban): math 23% / reading 24% proficiency, ranked #129 of 270 in OK (top 48%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 196 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 193 units permitted in Creek County in 2024 (76 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $110,000

Questions for the listing agent

1. Built in 1976 — 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. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.28%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $153,164
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 N Elm St	0.00mi	3/1.0	1,298 (0%)	0mo	$85,000	$65	100
7 E Fife St	0.30mi	3/2.0	1,200 (-8%)	1mo	$217,000	$181	68
112 N Linden St	0.46mi	2/1.0 (-1)	1,333 (+3%)	4mo	$168,500	$126	66
207 S Walnut St	0.46mi	3/1.5	1,376 (+6%)	2mo	$188,000	$137	65
217 E Bryan Ave	0.62mi	3/2.0	1,332 (+3%)	0mo	$215,000	$161	63
1009 E Thompson Ave	0.66mi	4/1.0 (+1)	1,234 (-5%)	1mo	$145,000	$118	55
1002 E Line Ave	0.53mi	2/1.0 (-1)	1,420 (+9%)	1mo	$85,000	$60	54
303 W Mckinley Ave	0.71mi	3/2.0	1,260 (-3%)	6mo	$187,500	$149	53
204 S Birch St	0.56mi	3/1.0	1,454 (+12%)	2mo	$160,000	$110	52
114 S Birch St	0.52mi	2/1.0 (-1)	1,171 (-10%)	8mo	$80,000	$68	48
512 S Poplar St	0.74mi	3/1.5	1,133 (-13%)	1mo	$95,000	$84	41
314 S Poplar St	0.61mi	4/2.0 (+1)	1,440 (+11%)	5mo	$115,000	$80	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $643
• Equity at exit: $16,401

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $24,396
• Equity at exit: $9,511

Cash invested: $30,800 (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 74066

• Home prices YoY: -26.3%
• Active inventory: 196
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $290

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 73%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 N Division St Sapulpa, OK	3.0	2.0	1237	$1,300	$1.05	16d	1	0.50mi
405 S Maple St Unit F Sapulpa, OK	2.0	1.0	1280	$955	$0.75	16d	1	0.59mi
405 S Maple St Unit F Sapulpa, OK	2.0	1.0	1280	$955	$0.75	2d	1	0.59mi
925 E Thompson Ave Sapulpa, OK	3.0	1.0	1416	$1,450	$1.02	2d	1	0.60mi
925 E Thompson Ave Sapulpa, OK	3.0	1.0	1416	$1,450	$1.02	10d	1	0.60mi
418 S Water St Sapulpa, OK	3.0	1.0	1166	$1,300	$1.11	10d	1	0.60mi
919 S Mission St Sapulpa, OK	2.0–3.0	1.0–2.0	950	$1,125	$1.18	2d	2	1.19mi
726 S Apple St Sapulpa, OK	4.0	2.0	1693	$1,750	$1.03	19d	1	1.19mi

Listing history 2 events

1. 2026-03-20
   status Pending
2. 2026-03-16
   listed $110,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,947
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$3,200
• Taxable income: $1,834
• Est. tax owed @ 24.0%: −$440
• After-tax cash flow: $3,036/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: Sapulpa
• NCES district ID: 4026910
• Math proficiency: 23% ▼ -12.00%
• Reading proficiency: 24% ▼ -12.00%
• Median HH income: $44,536
• Composite: 20.29/100
• National rank: #8616
• State rank: #129 of 270 in OK

Livability — Sapulpa

• Score: 67/100
• State rank: #88
• US rank: #10676

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment B- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sapulpa, OK
• County: Creek County · 32,292 people
• City population: 32,292
• Metro: Tulsa, OK
• Population (ZIP): 32,292
• Household income: $64,698
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 716.0

Population outlook (Creek County) Hauer SSP2

• Today (2025): 72,706 people
• By 2030: 73,032 · +0.4%
• By 2040: 72,788 · +0.1%
• By 2050: 71,558 · -1.6%
• By 2075: 69,248 · -4.8%
• By 2100: 62,722 · -13.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Native American 12% Two or more races 9% Hispanic / Latino 6% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Creek

• 2024 margin: Solid R (+55.7) · D 21.2% · R 77.0% · Other 1.8%
• 2008→2024 swing: -14.1pp toward R · 2008: -41.6pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+54.8 2016: R+54.5 2012: R+45.4 2008: R+41.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.18%
• Current HPI: 250.2859
• Rent YoY: —
• 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

2 events — show timeline

• 2026-03-20 Pending — MLS Technology, Inc.
• 2026-03-16 Listed $110,000 MLS Technology, Inc.