9115 E 46th Pl · Tulsa, OK 74145

$154,900

3 bd · 1.5 ba · 1,170 sqft · SingleFamily public records · 3 Days on market

Built 1970 8,320 sqft lot Est $191k · 19% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Rent growth +4.2/5.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ceramic Tile to Large Open Living, New Tile in Dining & Kitchen. Butlers Inside Seperate Loundry, Master w/ Bath & Walk-In, All New Carpet Paint, Tile, Appliances & Fixtures, Privacy Fenced Large Yard.

Key facts

• 8,320 sq ft lot
• 2 garage spots
• Built 1970

Property features AI

Exterior

• Parking: Attached 2-car garage
• Security: No safety shelter
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available
• Home design: Single-story; Faces west; Slab foundation
• Construction: Brick and wood frame construction; Asphalt/fiberglass roof; Built (year per public records)
• Exterior features: Patio; Privacy fencing

Interior

• Kitchen: Convection oven; Cooktop; Oven; Range; Dishwasher; Refrigerator
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Ceiling fan(s); Laminate countertops; Vinyl window features
• Laundry & utility: Washer; Dryer; Electric dryer hookup; Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-14 ($-166/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (17.7% below list).
• Recommended offer: $128k (17.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.9% 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-.
• Union (urban): math 20% / reading 20% proficiency, ranked #160 of 270 in OK (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grove Es (math 16% / reading 15%, grade F, #588 of 845 statewide, top 70%, 548 students, 0% FRL); Union 6Th-7Th Grade Ctr (math 18% / reading 17%, grade F, #186 of 345 statewide, top 55%, 2,182 students, 0% FRL); Union Hs (math 22% / reading 31%, grade F, #139 of 447 statewide, top 31%, 3,355 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+6.7%/yr); 77 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $1k of loan paydown is wiped out by about $5k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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 $89k; list at $155k implies a 74% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,520 (17.7% 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 1970 — 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: 0.82% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $190,710
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4640 S 86th EastAvenue	0.36mi	3/2.0	1,200 (+3%)	5mo	$120,000	$100	73
4838 S 85th EastAvenue E	0.50mi	3/1.5	1,160 (-1%)	6mo	$139,900	$121	70
4650 S 86th EastAvenue	0.36mi	3/2.0	1,291 (+10%)	1mo	$222,500	$172	63
9412 E 40th Pl	0.58mi	3/2.0	1,226 (+5%)	2mo	$120,000	$98	62
5031 S 88th EastAvenue	0.49mi	3/1.5	1,204 (+3%)	20mo	$189,000	$157	56
9006 E 39th St	0.66mi	3/1.5	1,227 (+5%)	9mo	$220,000	$179	54
4722 S 85th EastAvenue	0.43mi	3/2.0	1,340 (+14%)	6mo	$227,000	$169	48
8505 E 47th Pl	0.41mi	3/2.0	1,317 (+13%)	13mo	$215,000	$163	48
3859 S 88th East Ave	0.69mi	3/2.0	1,290 (+10%)	11mo	$235,000	$182	39
3833 S 88th Pl	0.75mi	3/2.0	1,309 (+12%)	19mo	$210,000	$160	28

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 · 6.7% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-21,071
• Equity at exit: $23,096

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $2,275
• Equity at exit: $13,393

Cash invested: $43,372 (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 74145

• Rents YoY: 6.7%
• Active inventory: 77
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,275 high
• Mortgage (P&I): −$812
• Tax from tax record: −$144 /mo · $1,733/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-14

Break-even live

Break-even rent $1,293

Max offer price $152,451

Occupancy floor 96%

Sensitivity live

Price	-10% $74	-5% $30	+0% $-14	+5% $-58	+10% $-102
Rent	-10% $-115	-5% $-64	+0% $-14	+5% $37	+10% $87
Rate	-1.0pp $64	-0.5pp $26	base $-14	+0.5pp $-54	+1.0pp $-95

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4858 S 78th E Pl Tulsa, OK	2.0	1.5–2.5	1147	$1,154	$1.01	0d	3	0.91mi
7643 E 51st St Tulsa, OK	1.0–2.0	1.0–2.0	775	$839	$1.08	0d	2	1.08mi
4974 S 76th East Ave Tulsa, OK	2.0	1.0–2.0	875	$989	$1.13	17d	3	1.20mi
9730 E 33rd St Tulsa, OK	2.0	1.0–2.0	822	$1,154	$1.40	14d	2	1.32mi
3218 S 93rd East Ave Tulsa, OK	1.0–2.0	1.0	732	$1,000	$1.37	0d	1	1.37mi

Listing history 4 events

1. 2026-06-15
   status $154,900 Pending 3 DOM
2. 2026-06-13
   days on market $154,900 Active 3 DOM
3. 2026-06-13
   remarks 486-char remark
4. 2026-06-13
   listed $154,900 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: $1,733 · $144/mo
• Projected year-2 tax: $1,733 · $144/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 ≥110°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,302
• − Mortgage interest: −$8,677
• − Property taxes: −$1,733
• − Insurance: −$774
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$4,506
• Taxable loss: −$2,836
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $514/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: Union
• NCES district ID: 4030600
• Math proficiency: 20% ▼ -9.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $52,744
• Composite: 18.18/100
• National rank: #8962
• State rank: #160 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): 18,196
• Household income: $58,706
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 566.0

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 0.69)
• Race & ethnicity: White 48% Hispanic / Latino 25% Two or more races 18% Black 12% Asian 4% Native American 4%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 13% · Canada, Vietnam, Philippines
• Languages at home: 76% English-only · Spanish 18% Arabic 1% Other Indo-European 1%

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: ▼ -168.71%
• Current HPI: 236.7578
• Rent YoY: ▲ 6.70%
• 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

+72.3% since first listed

5 events — show timeline

• 2026-06-10 Listed $154,900 MLS Technology, Inc.
• 2005-08-16 Sold (Public Records) $89,000 Public Records
• 2005-08-15 Sold (MLS) $89,000 MLS Technology, Inc.
• 2005-08-02 Listing Removed — MLS Technology, Inc.
• 2005-06-06 Listed $89,900 MLS Technology, Inc.

Property tax history

+2.5%/yr

Latest (2025): $1,733 · +9.4% YoY. Source: county tax records.