501 SE 15th St · Oklahoma City, OK 73129

$94,000

2 bd · 1.0 ba · 824 sqft · SingleFamily public records · 40 Days on market

Built 1946 5,929 sqft lot Est $95k · at est.

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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 +27.2/30.0
• DSCR +9.5/10.0
• ARV discount +7.9/15.0
• 1% rule +6.4/10.0
• Appreciation +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

3-Bedroom Home Near Wheeler District & Oklahoma River – A Diamond in the Rough! This 1,019 sqft home, built in 1946, is full of character and potential! Featuring a cozy living area with a fireplace, this 3-bed, 1-bath home offers unique touches like a vessel sink in the bathroom and a tub-shower combo. The property sits on a 0.13-acre lot with a carport, storage building, and a covered outdoor area complete with a built-in grill—perfect for entertaining. Located just minutes from the Wheeler District and Oklahoma River, this home is in an up-and-coming area benefiting from MAPS renovation projects, making it an exciting opportunity for homeowners and investors alike. With a little TLC, this diamond in the rough could truly shine. Don't miss your chance to own a piece of this growing community—schedule your showing today!

Key facts

• 5,929 sq ft lot
• Built 1946
• Listed 40 days

Property features AI

Finance

• Financial info: Listing offered as-is; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One-level home; Existing property
• Construction: Vinyl siding; Shingle roof; Combination foundation
• Exterior features: Covered patio; Corner lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; Gas log fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $91k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: Shidler Es (math 2% / reading 2%, grade F, #802 of 845 statewide, top 100%, 325 students, 0% FRL); Capitol Hill Hs (math 2% / reading 4%, grade F, #444 of 447 statewide, top 99%, 1,455 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: 83 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($650 loan paydown + $2k appreciation (1.8% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1946 — 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 $91,180 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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: 1.14% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.26%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $94,760
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
640 SE 20th St	0.40mi	2/1.0	816 (-1%)	5mo	$104,000	$127	76
512 SE 13th St	0.11mi	2/1.0	800 (-3%)	23mo	$92,000	$115	71
715 SE 10th St	0.41mi	3/1.0 (+1)	888 (+8%)	3mo	$60,000	$68	60
404 SE 17th St	0.18mi	3/1.0 (+1)	912 (+11%)	11mo	$146,900	$161	59
419 SE 23rd St	0.57mi	2/1.0	832 (+1%)	20mo	$61,000	$73	55
1912 S High Ave	0.58mi	2/1.0	768 (-7%)	12mo	$110,000	$143	52
420 SE 22nd St	0.50mi	2/1.0	918 (+11%)	8mo	$45,000	$49	50
414 SE 24th St	0.67mi	2/1.0	860 (+4%)	16mo	$89,000	$103	48
1635 S Everest Ave	0.71mi	2/1.0	736 (-11%)	5mo	$70,000	$95	44
726 SE 18th St	0.35mi	3/1.0 (+1)	910 (+10%)	21mo	$109,100	$120	43
1929 S Stonewall Ave	0.62mi	2/1.0	720 (-13%)	14mo	$100,000	$139	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 1.85×
• Total profit: $22,345
• Equity at exit: $35,796

10-year hold

• IRR: 18.6%
• Equity multiple: 3.41×
• Total profit: $63,483
• Equity at exit: $50,581

Cash invested: $26,320 (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 73129

• Home prices YoY: 0.7%
• Active inventory: 83
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,072 high
• Mortgage (P&I): −$493
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $269

Break-even live

Break-even rent $732

Max offer price $94,000

Occupancy floor 70%

Sensitivity live

Price	-10% $322	-5% $296	+0% $269	+5% $242	+10% $216
Rent	-10% $184	-5% $227	+0% $269	+5% $311	+10% $354
Rate	-1.0pp $316	-0.5pp $293	base $269	+0.5pp $245	+1.0pp $220

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 SE 10th St Oklahoma City, OK	2.0	1.0	864	$995	$1.15	4d	1	0.39mi
526 SE 21st St Oklahoma City, OK	3.0	1.0	1054	$1,150	$1.09	4d	1	0.44mi
726 SE 20th St Oklahoma City, OK	2.0	1.0	672	$1,095	$1.63	44d	1	0.44mi
630 SE 21st St Oklahoma City, OK	3.0	2.0	1000	$1,095	$1.09	44d	1	0.45mi
317 SE 24th St Oklahoma City, OK	2.0	1.0	917	$950	$1.04	4d	1	0.66mi
407 SE 25th St Oklahoma City, OK	3.0	1.0	896	$1,275	$1.42	45d	1	0.72mi
115 SW 23rd St Oklahoma City, OK	1.0	1.0	750	$575	$0.77	16d	1	0.89mi
116 SW 23rd St Oklahoma City, OK	1.0	1.0	700	$650	$0.93	44d	1	0.91mi
505 E Sheridan Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	1012	$1,986	$1.96	2d	16	1.19mi
316 SW 27th St Unit 4 Oklahoma City, OK	1.0	1.0	615	$679	$1.10	12d	1	1.28mi
316 SW 27th St Unit 8 Oklahoma City, OK	1.0	1.0	615	$679	$1.10	44d	1	1.28mi
404 SW 26th St Unit 6 Oklahoma City, OK	1.0	1.0	600	$645	$1.07	12d	1	1.28mi
540 SW 24th St #3 Oklahoma City, OK	1.0	1.0	726	$625	$0.86	44d	1	1.33mi
123 NE 2nd St Oklahoma City, OK	2.0	2.0	1051	$1,750	$1.67	21d	1	1.41mi
1 NE 2nd St #304 Oklahoma City, OK	1.0	1.0	793	$1,299	$1.64	24d	1	1.44mi
1 NE 2nd St Oklahoma City, OK	1.0	1.0	793	$1,074	$1.35	44d	2	1.46mi
1 NE 2nd St Oklahoma City, OK	1.0	1.0	793	$1,074	$1.35	20d	2	1.46mi
140 Park Ave Oklahoma City, OK	3.0	1.0–2.5	2033	$9,107	$4.48	2d	32	1.46mi

Listing history 10 events

1. 2026-04-14
   status Pending
2. 2026-03-05
   listed $94,000 Active
3. 2025-12-17
   soldstatus $94,000
4. 2025-12-15
   soldstatus $94,000 Closed 864-char remark

   Show marketing remark (864 chars)

   3-Bedroom Home Near Wheeler District & Oklahoma River – A Diamond in the Rough! This 1,019 sqft home, built in 1946, is full of character and potential! Featuring a cozy living area with a fireplace, this 3-bed, 1-bath home offers unique touches like a vessel sink in the bathroom and a tub-shower combo. The property sits on a 0.13-acre lot with a carport, storage building, and a covered outdoor area complete with a built-in grill—perfect for entertaining. Located just minutes from the Wheeler District and Oklahoma River, this home is in an up-and-coming area benefiting from MAPS renovation projects, making it an exciting opportunity for homeowners and investors alike. With a little TLC, this diamond in the rough could truly shine. Don't miss your chance to own a piece of this growing community—schedule your showing today!

5. 2025-11-04
   status Pending 864-char remark

   Show marketing remark (864 chars)

   3-Bedroom Home Near Wheeler District & Oklahoma River – A Diamond in the Rough! This 1,019 sqft home, built in 1946, is full of character and potential! Featuring a cozy living area with a fireplace, this 3-bed, 1-bath home offers unique touches like a vessel sink in the bathroom and a tub-shower combo. The property sits on a 0.13-acre lot with a carport, storage building, and a covered outdoor area complete with a built-in grill—perfect for entertaining. Located just minutes from the Wheeler District and Oklahoma River, this home is in an up-and-coming area benefiting from MAPS renovation projects, making it an exciting opportunity for homeowners and investors alike. With a little TLC, this diamond in the rough could truly shine. Don't miss your chance to own a piece of this growing community—schedule your showing today!

6. 2025-09-04
   price $99,999 864-char remark

   Show marketing remark (864 chars)

   3-Bedroom Home Near Wheeler District & Oklahoma River – A Diamond in the Rough! This 1,019 sqft home, built in 1946, is full of character and potential! Featuring a cozy living area with a fireplace, this 3-bed, 1-bath home offers unique touches like a vessel sink in the bathroom and a tub-shower combo. The property sits on a 0.13-acre lot with a carport, storage building, and a covered outdoor area complete with a built-in grill—perfect for entertaining. Located just minutes from the Wheeler District and Oklahoma River, this home is in an up-and-coming area benefiting from MAPS renovation projects, making it an exciting opportunity for homeowners and investors alike. With a little TLC, this diamond in the rough could truly shine. Don't miss your chance to own a piece of this growing community—schedule your showing today!

7. 2025-08-13
   price $115,000 864-char remark

   Show marketing remark (864 chars)

   3-Bedroom Home Near Wheeler District & Oklahoma River – A Diamond in the Rough! This 1,019 sqft home, built in 1946, is full of character and potential! Featuring a cozy living area with a fireplace, this 3-bed, 1-bath home offers unique touches like a vessel sink in the bathroom and a tub-shower combo. The property sits on a 0.13-acre lot with a carport, storage building, and a covered outdoor area complete with a built-in grill—perfect for entertaining. Located just minutes from the Wheeler District and Oklahoma River, this home is in an up-and-coming area benefiting from MAPS renovation projects, making it an exciting opportunity for homeowners and investors alike. With a little TLC, this diamond in the rough could truly shine. Don't miss your chance to own a piece of this growing community—schedule your showing today!

8. 2025-03-17
   listed $124,900 Active 864-char remark

   Show marketing remark (864 chars)

   3-Bedroom Home Near Wheeler District & Oklahoma River – A Diamond in the Rough! This 1,019 sqft home, built in 1946, is full of character and potential! Featuring a cozy living area with a fireplace, this 3-bed, 1-bath home offers unique touches like a vessel sink in the bathroom and a tub-shower combo. The property sits on a 0.13-acre lot with a carport, storage building, and a covered outdoor area complete with a built-in grill—perfect for entertaining. Located just minutes from the Wheeler District and Oklahoma River, this home is in an up-and-coming area benefiting from MAPS renovation projects, making it an exciting opportunity for homeowners and investors alike. With a little TLC, this diamond in the rough could truly shine. Don't miss your chance to own a piece of this growing community—schedule your showing today!

9. 2002-09-19
   soldstatus $30,000
10. 2002-09-19
    soldstatus $38,500

ⓘ 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: $551 · $46/mo
• Projected year-2 tax: $846 · $70/mo
• Expected delta: +$295/yr (+$25/mo · 53.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,866
• − Mortgage interest: −$5,265
• − Property taxes: −$551
• − Insurance: −$470
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$2,735
• Taxable income: $1,786
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $2,799/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): 20,014
• Household income: $46,670
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 611.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 26% White 26% Black 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 24% · Canada, Dominican Republic
• Languages at home: 54% English-only · Spanish 44% Other Asian/Pacific 1% Vietnamese 1%

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: ▲ 1.75%
• Current HPI: 250.8581
• Rent YoY: —
• 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

+213.3% since first listed

10 events — show timeline

• 2026-04-14 Pending — MLSOK
• 2026-03-05 Listed $94,000 MLSOK
• 2025-12-17 Sold (Public Records) $94,000 Public Records
• 2025-12-15 Sold (MLS) $94,000 MLSOK
• 2025-11-04 Pending — MLSOK
• 2025-09-04 Price Changed $99,999 MLSOK
• 2025-08-13 Price Changed $115,000 MLSOK
• 2025-03-17 Listed $124,900 MLSOK
• 2002-09-19 Sold (Public Records) $38,500 Public Records
• 2002-09-19 Sold (Public Records) $30,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $551 · +4.4% YoY. Source: county tax records.