12931 E 33rd St S · Tulsa, OK 74134

$109,900

2 bd · 1.5 ba · 1,008 sqft · SingleFamily public records · 4 Days on market

Built 1972 7,200 sqft lot Est $152k · 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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, renovators, and buyers looking to build instant sweat equity! This one-owner home is filled with charm, character, and decades of cherished memories. Currently configured as a 2-bedroom, the home could potentially be converted back to its original 3-bedroom layout, offering additional flexibility and value. Step inside and experience a true blast from the past, complete with unique vintage details including flocked wallpaper that must be seen to be appreciated! Whether you're looking to restore its original charm, update it to fit your style, or add to your investment portfolio, the possibilities are endless. Conveniently located near shopping, dining, parks, schools,

Key facts

• 7,200 sq ft lot
• 2 garage spots
• Built 1972

Tags

• UNIQUE VINTAGE DETAILS

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Parking: Attached garage with 2 spaces
• Security: No safety shelter
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone service available
• Home design: Single-story home; Slab foundation
• Construction: Built with brick veneer and wood frame; Asphalt/fiberglass roof
• Exterior features: Covered patio/porch; Porch; Chain link full fencing; Mature trees on lot; Faces south

Interior

• Kitchen: Eat-in kitchen; Microwave; Oven/Range/Stove; Dishwasher; Garbage disposal; Refrigerator; Plumbed for ice maker
• Bedrooms: Master bedroom with private bath and separate closets (first level); Bedroom with walk-in closet (first level)
• Flooring: Carpet; Laminate
• Bathrooms: One full hall bathroom (first level); One half bathroom and master bathroom (first level)
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Attic; Laminate countertops; Cable TV available; Ceiling fans; Aluminum frame windows; Electric oven and gas oven connections
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room accessible from garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/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 10.3% 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: schools F, 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.
• Market conditions: Rents rising (+3.5%/yr); 195 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $760 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $31k cash investment doubles in ~8 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: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1972 — 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. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 10.33%
• Cash-on-cash: 14.42%
• DSCR: 1.64
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $152,208
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2904 S 131st EastAvenue	0.46mi	3/2.0 (+1)	1,036 (+3%)	3mo	$115,000	$111	64
13178 E 29th St	0.53mi	3/2.5 (+1)	1,096 (+9%)	2mo	$122,000	$111	50
13007 E 27th St	0.73mi	3/1.5 (+1)	896 (-11%)	0mo	$142,000	$158	42
13015 E 28th St	0.63mi	3/1.0 (+1)	1,082 (+7%)	14mo	$145,600	$135	40
13306 E 28th St	0.57mi	3/2.0 (+1)	1,132 (+12%)	10mo	$194,000	$171	37
13037 E 27th St	0.73mi	3/1.5 (+1)	1,124 (+12%)	22mo	$170,000	$151	24

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.21×
• Total profit: $6,506
• Equity at exit: $16,386

10-year hold

• IRR: 15.3%
• Equity multiple: 2.27×
• Total profit: $39,143
• Equity at exit: $9,502

Cash invested: $30,772 (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 74134

• Home prices YoY: -25.5%
• Rents YoY: 3.5%
• Active inventory: 195
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,415 high
• Mortgage (P&I): −$576
• Tax from tax record: −$126 /mo · $1,512/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $370

Break-even live

Break-even rent $947

Max offer price $109,900

Occupancy floor 69%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3311 S 126th East Ave Tulsa, OK	3.0	2.0	1395	$1,650	$1.18	23d	1	0.26mi
13102 E 30th St Tulsa, OK	3.0	2.0	1190	$1,395	$1.17	19d	1	0.40mi
13102 E 30th St Tulsa, OK	3.0	2.0	1190	$1,395	$1.17	23d	1	0.40mi
3208 S 137th East Ave Tulsa, OK	3.0	2.0	1367	$1,578	$1.15	2d	1	0.47mi
4020 S 130th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	737	$1,245	$1.69	21d	4	0.66mi
12525 E 41st St Tulsa, OK	1.0–2.0	1.0–2.0	775	$1,300	$1.68	21d	1	0.70mi
4104 S 130th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	750	$1,299	$1.73	11d	23	0.76mi
3121 S 145th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	825	$1,200	$1.45	3d	1	0.98mi
2444 S 121st East Ave Tulsa, OK	3.0	1.5	1168	$1,395	$1.19	23d	1	1.06mi
2336 S 137th East Ave Tulsa, OK	1.0–3.0	1.0–2.0	1080	$1,249	$1.16	1d	1	1.11mi
2319 S 119th East Ave Tulsa, OK	3.0	1.0	990	$1,365	$1.38	23d	1	1.16mi
2756 S 114th East Ave Tulsa, OK	3.0	2.0	1120	$1,650	$1.47	23d	1	1.22mi
12111 E 21st Pl Tulsa, OK	3.0	1.0	1199	$1,395	$1.16	21d	1	1.35mi

Listing history 5 events

1. 2026-06-10
   status $109,900 Pending 4 DOM
2. 2026-06-09
   days on market $109,900 Active 4 DOM
3. 2026-06-08
   days on market $109,900 Active 3 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $109,900 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: $1,512 · $126/mo
• Projected year-2 tax: $1,512 · $126/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 4/10 Moderate
• 🌡 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: $16,982
• − Mortgage interest: −$6,156
• − Property taxes: −$1,512
• − Insurance: −$550
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$3,197
• Taxable income: $2,850
• Est. tax owed @ 24.0%: −$684
• After-tax cash flow: $3,754/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): 23,323
• Household income: $73,119
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 608.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 26% Two or more races 15% Black 10% Asian 7% Native American 5%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 18% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 22% Other Asian/Pacific 3% Vietnamese 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: ▼ -68.07%
• Current HPI: 198.7031
• Rent YoY: ▲ 3.52%
• 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

1 event — show timeline

• 2026-06-06 Listed $109,900 MLS Technology, Inc.

Property tax history

+4.1%/yr

Latest (2025): $1,512 · +9.4% YoY. Source: county tax records.