2528 W I 44 Service Rd · Oklahoma City, OK 73112

$99,900

2 bd · 1.0 ba · 870 sqft · SingleFamily public records · 100 Days on market

Built 1946 8,965 sqft lot $115/sqft · 33% below area Est $148k · 33% 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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Live, work, invest, or create at this unique property! With commercial zoning and the potential for residential use, this versatile property opens the door to countless possibilities. Perfect for a small business, office space, rental opportunity, or live/work concept, this charming brick building combines flexibility with a highly convenient location. Inside, you’ll find updated finishes, spacious rooms, neutral tones, and durable flooring that create a fresh, functional space ready for your vision. The layout is adaptable for a variety of uses, while the kitchen and bath offer practical updates that make the property move-in ready. Outside, mature trees, a welcoming porch, and covered parking add both charm and convenience. Whether you’re looking for your next business location, investment property, or a place to make your own, this space delivers opportunity and potential in one package.

Key facts

• Updated finishes
• Durable flooring
• Adaptable layout

Tags

• COMMERCIAL ZONING
• POTENTIAL FOR RESIDENTIAL USE
• HIGHLY CONVENIENT LOCATION
• UPDATED FINISHES
• DURABLE FLOORING
• ADAPTABLE LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: schools F, 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.
• Market conditions: Rents rising fast (+4.8%/yr); 192 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y ago; this cycle's ask has dropped $35k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $47k; list at $100k implies a 112% gain — meaningful room to come down on a strong offer.

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 $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.14% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (median comp): $148,414
• List price: $99,900
• Delta: -32.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2432 NW 36th St	0.31mi	2/1.0	875 (+1%)	6mo	$104,000	$119	79
2416 NW 40th St	0.29mi	2/1.0	814 (-6%)	5mo	$120,000	$147	72
2331 NW 31st St	0.67mi	2/1.0	900 (+3%)	4mo	$160,000	$178	59
2117 NW 34th St	0.74mi	2/1.0	870 (0%)	8mo	$90,000	$103	58
2108 NW 38th St	0.64mi	2/1.0	816 (-6%)	3mo	$40,100	$49	57
3101 NW 39th Ter	0.62mi	2/1.0	837 (-4%)	11mo	$130,000	$155	56
2332 NW 36th St	0.40mi	2/1.0	754 (-13%)	4mo	$165,000	$219	55
2645 NW 31st St	0.59mi	2/1.0	940 (+8%)	6mo	$149,000	$159	54
2405 NW 32nd St	0.59mi	2/1.0	985 (+13%)	1mo	$140,000	$142	50
2410 NW 32nd St	0.61mi	2/1.0	986 (+13%)	3mo	$190,000	$193	47
3016 NW 43rd St	0.61mi	2/1.0	963 (+11%)	8mo	$190,000	$197	47
3021 NW 43rd St	0.63mi	2/1.0	967 (+11%)	11mo	$165,000	$171	43

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 · 4.8% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-76
• Equity at exit: $14,895

10-year hold

• IRR: 11.4%
• Equity multiple: 1.96×
• Total profit: $26,976
• Equity at exit: $8,638

Cash invested: $27,972 (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 73112

• Rents YoY: 4.8%
• Active inventory: 192
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,143 high
• Mortgage (P&I): −$524
• Tax from tax record: −$118 /mo · $1,415/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $220

Break-even live

Break-even rent $865

Max offer price $99,900

Occupancy floor 76%

Sensitivity live

Price	-10% $276	-5% $248	+0% $220	+5% $191	+10% $163
Rent	-10% $129	-5% $175	+0% $220	+5% $265	+10% $310
Rate	-1.0pp $270	-0.5pp $245	base $220	+0.5pp $194	+1.0pp $167

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2517 NW 38th St Oklahoma City, OK	3.0	1.0	1000	$1,225	$1.23	4d	1	0.05mi
2517 NW 38th St Oklahoma City, OK	3.0	1.0	1000	$1,225	$1.23	24d	1	0.05mi
2442 NW 39th St Oklahoma City, OK	2.0	1.0	775	$850	$1.10	21d	1	0.15mi
2477 NW 40th St Oklahoma City, OK	2.0	1.0	1011	$1,150	$1.14	44d	1	0.16mi
2424 NW 39th St Oklahoma City, OK	2.0	1.0–1.5	787	$850	$1.08	4d	4	0.22mi
2416 NW 40th St Oklahoma City, OK	3.0	1.5	814	$1,300	$1.60	24d	1	0.26mi
2449 NW 42nd St Oklahoma City, OK	3.0	1.0	1070	$1,200	$1.12	44d	1	0.29mi
2400 NW 36th St Oklahoma City, OK	2.0	1.0	950	$1,100	$1.16	44d	1	0.38mi
2502 NW 35th St Unit 3S Oklahoma City, OK	1.0	1.0	600	$750	$1.25	24d	1	0.39mi
4211 N Youngs Blvd Unit 217 Oklahoma City, OK	2.0	2.0	1100	$1,050	$0.95	3d	1	0.48mi
4211 N Youngs Blvd Unit 112 Oklahoma City, OK	2.0	1.5	952	$900	$0.95	24d	1	0.48mi
4211 N Youngs Blvd Unit 216 Oklahoma City, OK	2.0	2.0	1100	$950	$0.86	24d	1	0.48mi
2140 NW 36th St Oklahoma City, OK	3.0	1.0	829	$1,400	$1.69	44d	1	0.58mi
3915 N Pennsylvania Ave Oklahoma City, OK	2.0	2.0	1065	$1,495	$1.40	44d	1	0.63mi
4301 N Pennsylvania Ave Unit 230 Oklahoma City, OK	2.0	1.0	900	$1,045	$1.16	44d	1	0.68mi
4301 N Pennsylvania Ave Oklahoma City, OK	1.0	1.0	850	$845	$0.99	44d	1	0.68mi
4301 N Pennsylvania Ave Unit 116 Oklahoma City, OK	2.0	2.0	950	$1,095	$1.15	44d	1	0.68mi
4301 N Pennsylvania Ave Unit M 200 Oklahoma City, OK	2.0	1.5	1100	$1,195	$1.09	24d	1	0.68mi
2720 NW 49th St Oklahoma City, OK	2.0	1.0	786	$1,200	$1.53	3d	1	0.71mi
2932 NW 32nd St Oklahoma City, OK	1.0	1.0	1000	$695	$0.69	44d	1	0.72mi
2220 NW 32nd St Oklahoma City, OK	2.0	1.0	850	$1,300	$1.53	22d	1	0.73mi
4517 N Pennsylvania Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	842	$929	$1.10	17d	1	0.76mi
2042 NW 34th St Oklahoma City, OK	2.0	1.0	968	$1,050	$1.08	12d	1	0.77mi
4600 N Hamilton Dr Oklahoma City, OK	2.0	1.0	708	$1,050	$1.48	44d	1	0.78mi
2136 NW 32nd St Oklahoma City, OK	2.0	1.0	806	$925	$1.15	22d	1	0.79mi
2212 NW 31st St Oklahoma City, OK	2.0	1.0	810	$1,024	$1.26	15d	1	0.79mi
2400 NW 30th St Oklahoma City, OK	1.0–2.0	1.0–2.0	801	$1,279	$1.60	2d	11	0.80mi
2400 NW 30th St Oklahoma City, OK	2.0	2.0	1078	$1,289	$1.20	44d	1	0.80mi
2100 NW 33rd St Oklahoma City, OK	2.0	1.0	1004	$1,245	$1.24	3d	1	0.80mi
3221 NW 39th Ter Oklahoma City, OK	3.0	1.0	1073	$1,350	$1.26	17d	1	0.81mi
2037 NW 32nd Ter Oklahoma City, OK	2.0	1.5	1053	$1,100	$1.04	44d	1	0.84mi
2022 NW 33rd St Oklahoma City, OK	3.0	1.0	936	$1,150	$1.23	16d	1	0.85mi
2029 NW 46th St Oklahoma City, OK	3.0	2.0	1109	$1,550	$1.40	3d	1	0.87mi
2025 NW 46th St Oklahoma City, OK	3.0	1.5	1080	$1,495	$1.38	22d	1	0.89mi
3116 NW 32nd St Oklahoma City, OK	2.0	1.0	720	$950	$1.32	4d	1	0.89mi
3141 NW 32nd St Oklahoma City, OK	2.0	1.0	1010	$1,025	$1.01	22d	1	0.92mi
5200 N Oak St Oklahoma City, OK	3.0	1.0–2.5	1080	$3,155	$2.92	2d	64	0.92mi
3112 Cashion Pl Oklahoma City, OK	3.0	1.0	968	$1,150	$1.19	11d	1	0.96mi
5113 N Brookline Ave Oklahoma City, OK	1.0	1.0	850	$950	$1.12	24d	1	0.97mi
5113 N Brookline Ave Oklahoma City, OK	1.0	1.0	850	$950	$1.12	44d	1	0.97mi

Listing history 27 events

1. 2026-06-18
   days on market $99,900 Active 100 DOM
2. 2026-06-17
   days on market $99,900 Active 99 DOM
3. 2026-06-16
   days on market $99,900 Active 98 DOM
4. 2026-06-15
   days on market $99,900 Active 97 DOM
5. 2026-06-13
   pricedays on market $99,900 Active 95 DOM
6. 2026-06-09
   days on market $115,000 Active 91 DOM
7. 2026-06-08
   days on market $115,000 Active 90 DOM
8. 2026-06-07
   days on market $115,000 Active 89 DOM
9. 2026-06-05
   days on market $115,000 Active 86 DOM
10. 2026-06-03
    days on market $115,000 Active 85 DOM
11. 2026-06-02
    days on market $115,000 Active 84 DOM
12. 2026-06-01
    days on market $115,000 Active 83 DOM
13. 2026-05-31
    days on market $115,000 Active 82 DOM
14. 2026-04-23
    price $119,000 919-char remark

    Show marketing remark (919 chars)

    Live, work, invest, or create at this unique property! With commercial zoning and the potential for residential use, this versatile property opens the door to countless possibilities. Perfect for a small business, office space, rental opportunity, or live/work concept, this charming brick building combines flexibility with a highly convenient location. Inside, you’ll find updated finishes, spacious rooms, neutral tones, and durable flooring that create a fresh, functional space ready for your vision. The layout is adaptable for a variety of uses, while the kitchen and bath offer practical updates that make the property move-in ready. Outside, mature trees, a welcoming porch, and covered parking add both charm and convenience. Whether you’re looking for your next business location, investment property, or a place to make your own, this space delivers opportunity and potential in one package.

15. 2026-04-03
    price $129,900 919-char remark

    Show marketing remark (919 chars)

    Live, work, invest, or create at this unique property! With commercial zoning and the potential for residential use, this versatile property opens the door to countless possibilities. Perfect for a small business, office space, rental opportunity, or live/work concept, this charming brick building combines flexibility with a highly convenient location. Inside, you’ll find updated finishes, spacious rooms, neutral tones, and durable flooring that create a fresh, functional space ready for your vision. The layout is adaptable for a variety of uses, while the kitchen and bath offer practical updates that make the property move-in ready. Outside, mature trees, a welcoming porch, and covered parking add both charm and convenience. Whether you’re looking for your next business location, investment property, or a place to make your own, this space delivers opportunity and potential in one package.

16. 2026-03-10
    listed $135,000 Active 919-char remark

    Show marketing remark (919 chars)

    Live, work, invest, or create at this unique property! With commercial zoning and the potential for residential use, this versatile property opens the door to countless possibilities. Perfect for a small business, office space, rental opportunity, or live/work concept, this charming brick building combines flexibility with a highly convenient location. Inside, you’ll find updated finishes, spacious rooms, neutral tones, and durable flooring that create a fresh, functional space ready for your vision. The layout is adaptable for a variety of uses, while the kitchen and bath offer practical updates that make the property move-in ready. Outside, mature trees, a welcoming porch, and covered parking add both charm and convenience. Whether you’re looking for your next business location, investment property, or a place to make your own, this space delivers opportunity and potential in one package.

17. 2026-03-04
    historical $995
18. 2026-01-29
    listed $995
19. 2015-03-17
    soldstatus $47,100 282-char remark

    Show marketing remark (282 chars)

    Fantastic 2/1/1 BRICK BUNGALOW with some NEW WINDOWS, Great floor Plan. Property can be used as Residential or Office O2. Tile Flooring in Bathroom, New Garage Door on Detached Garage. See Attachment for PAS requirements and WFHM offer submital information in MLS Document section.

20. 2015-01-16
    listed $45,000 282-char remark

    Show marketing remark (282 chars)

    Fantastic 2/1/1 BRICK BUNGALOW with some NEW WINDOWS, Great floor Plan. Property can be used as Residential or Office O2. Tile Flooring in Bathroom, New Garage Door on Detached Garage. See Attachment for PAS requirements and WFHM offer submital information in MLS Document section.

21. 2007-09-26
    historical
22. 2007-05-02
    listed $59,900
23. 2006-06-28
    soldstatus $46,000
24. 2004-04-07
    historical
25. 2003-10-28
    listed $49,400
26. 2000-01-28
    soldstatus $35,000
27. 1985-06-01
    soldstatus $45,000

ⓘ 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: $1,415 · $118/mo
• Projected year-2 tax: $1,415 · $118/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 3% 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: $13,718
• − Mortgage interest: −$5,596
• − Property taxes: −$1,415
• − Insurance: −$500
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − Depreciation: −$2,906
• Taxable income: $1,107
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $2,371/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): 30,372
• Household income: $58,419
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 1555.0

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 0.65)
• Race & ethnicity: White 55% Hispanic / Latino 18% Black 13% Two or more races 12% Asian 4% Native American 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 12% · Canada, Vietnam, China
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 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: ▼ -283.17%
• Current HPI: 253.682
• Rent YoY: ▲ 4.80%
• 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

+164.4% since first listed

14 events — show timeline

• 2026-04-23 Price Changed $119,000 MLSOK
• 2026-04-03 Price Changed $129,900 MLSOK
• 2026-03-10 Listed $135,000 MLSOK
• 2026-03-04 Rental Removed $995 APPFOLIO
• 2026-01-29 Listed for Rent $995 APPFOLIO
• 2015-03-17 Sold (MLS) $47,100 MLSOK
• 2015-01-16 Listed $45,000 MLSOK
• 2007-09-26 Listing Removed — MLSOK
• 2007-05-02 Listed $59,900 MLSOK
• 2006-06-28 Sold (Public Records) $46,000 Public Records
• 2004-04-07 Listing Removed — MLSOK
• 2003-10-28 Listed $49,400 MLSOK
• 2000-01-28 Sold (Public Records) $35,000 Public Records
• 1985-06-01 Sold (Public Records) $45,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,415 · +4.2% YoY. Source: county tax records.