1037 N Florence Ave · Tulsa, OK 74110

$89,900

3 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 14 Days on market

Built 1940 7,579 sqft lot Est $149k · 40% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +9.3/10.0
• 1% rule +8.5/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Listing remarks

Bungalow 3 bedrooms 1 bathroom recently remodeled. Short distance to downtown, TU, and other commercial districts. Currently leased. Sold as-is.

Key facts

• 7,579 sq ft lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 11.6% 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-.
• Tulsa (urban): math 7% / reading 12% proficiency, ranked #250 of 270 in OK (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.8%/yr); 57 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 35% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $8k of equity ($622 loan paydown + $8k appreciation (8.7% local appreciation)).
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.7% appreciation + 1.8% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 30y 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 $43k; list at $90k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $89,900

Questions for the listing agent

1. Built in 1940 — 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: 1.35% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.07%
• DSCR: 1.85
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $148,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
736 N Gary Pl	0.29mi	2/1.0 (-1)	1,060 (+1%)	9mo	$150,000	$142	72
2707 E Marshall St	0.45mi	3/1.0	965 (-8%)	2mo	$105,000	$109	65
3202 E Haskell St	0.38mi	3/1.0	1,126 (+7%)	8mo	$145,000	$129	63
3310 E Admiral Ct	0.61mi	3/1.0	1,122 (+7%)	1mo	$159,000	$142	59
504 N Florence Pl	0.40mi	3/1.0	1,176 (+12%)	4mo	$127,254	$108	58
111 Waverly Dr	0.74mi	2/1.0 (-1)	1,009 (-4%)	2mo	$189,900	$188	52
3533 E King St	0.45mi	2/1.0 (-1)	893 (-15%)	7mo	$92,000	$103	44
119 N Columbia Ave	0.56mi	2/1.0 (-1)	903 (-14%)	2mo	$137,000	$152	44
2618 E Oklahoma St	0.60mi	3/2.0	1,201 (+15%)	1mo	$194,760	$162	43
1551 N Indianapolis Ave	0.75mi	2/1.0 (-1)	926 (-12%)	2mo	$132,500	$143	39
1547 N Columbia Pl	0.73mi	3/2.0	1,160 (+11%)	6mo	$225,000	$194	39
2913 E 1st St	0.71mi	2/1.0 (-1)	944 (-10%)	8mo	$119,000	$126	39

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

Projected returns pro-forma

8.69% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: 35.6%
• Equity multiple: 3.58×
• Total profit: $65,032
• Equity at exit: $72,576

10-year hold

• IRR: 30.8%
• Equity multiple: 7.64×
• Total profit: $167,150
• Equity at exit: $148,346

Cash invested: $25,172 (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 74110

• Home prices YoY: 3.2%
• Rents YoY: 1.8%
• Active inventory: 57
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$471
• Tax from tax record: −$52 /mo · $625/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $400

Break-even live

Break-even rent $710

Max offer price $89,900

Occupancy floor 62%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 N Gary Pl Tulsa, OK	2.0	1.0	1213	$1,200	$0.99	23d	1	0.31mi
3326 E Marshall St Apt 4 Tulsa, OK	2.0	1.0	750	$925	$1.23	23d	1	0.38mi
3326 E Marshall St Unit 1 Tulsa, OK	2.0	1.0	700	$825	$1.18	23d	1	0.38mi
3238 E Easton St Tulsa, OK	2.0	1.0	800	$1,150	$1.44	3d	1	0.45mi
720 N Columbia Ave Tulsa, OK	3.0	1.0	1233	$1,150	$0.93	3d	1	0.46mi
1462 N College Ave Tulsa, OK	3.0	1.0	1150	$1,250	$1.09	23d	1	0.55mi
1507 N Florence Ave Tulsa, OK	3.0	1.0	1000	$1,100	$1.10	23d	1	0.59mi
728 N Marion Ave Tulsa, OK	3.0	2.0	1405	$1,305	$0.93	16d	1	0.64mi
839 N New Haven Ave Tulsa, OK	3.0	1.0	1238	$1,250	$1.01	23d	1	0.69mi
44 S Florence Ave Tulsa, OK	2.0	1.0	1080	$1,450	$1.34	23d	1	0.73mi
2529 E Admiral Pl Unit A Tulsa, OK	2.0	1.0	1100	$1,295	$1.18	23d	1	0.77mi
2808 E 1st Pl Unit P21-Q Tulsa, OK	2.0	1.0	1025	$1,250	$1.22	23d	1	0.78mi
223 S Evanston Ave Tulsa, OK	3.0	2.0	1220	$1,395	$1.14	23d	1	0.86mi
1816 N Delaware Pl Tulsa, OK	3.0	1.0	990	$950	$0.96	3d	1	0.88mi
1623 N Atlanta Ave Tulsa, OK	3.0	1.0	975	$1,175	$1.21	3d	1	0.94mi
1928 N Columbia Pl Tulsa, OK	2.0	1.0	888	$1,000	$1.13	16d	1	1.02mi
1807 N Atlanta Ave Tulsa, OK	3.0	1.0	812	$995	$1.23	23d	1	1.04mi
1830 N New Haven Ave Tulsa, OK	2.0	1.0	840	$1,295	$1.54	23d	1	1.06mi
2532 E 4th St Tulsa, OK	2.0	2.0	1088	$800	$0.74	23d	1	1.08mi
4703 E Latimer Pl Tulsa, OK	2.0	1.0	1103	$1,290	$1.17	3d	1	1.15mi
4008 E Virgin St Tulsa, OK	3.0	1.0	1125	$1,400	$1.24	3d	1	1.23mi
43 S Toledo Ave Tulsa, OK	3.0	2.0	884	$1,650	$1.87	16d	1	1.28mi
3328 E 7th St Tulsa, OK	2.0	1.0	1008	$1,525	$1.51	16d	1	1.30mi
917 N Yale Ave Tulsa, OK	1.0–2.0	1.0	725	$725	$1.00	23d	1	1.30mi
537 S Marion Ave Tulsa, OK	2.0	1.0	933	$1,325	$1.42	3d	1	1.32mi
2509 E 7th St Tulsa, OK	3.0	2.0	1161	$1,815	$1.56	11d	1	1.37mi
516 S Quebec Ave Tulsa, OK	2.0	1.0	1200	$1,295	$1.08	23d	1	1.39mi

Listing history 8 events

1. 2026-04-24
   status Pending
2. 2026-04-10
   listed $89,900 Active
3. 1998-02-11
   historical
4. 1998-01-21
   listed $35,000
5. 1996-07-05
   historical
6. 1996-04-05
   listed $33,000
7. 1993-08-01
   soldstatus $43,000
8. 1989-08-01
   soldstatus $36,000

ⓘ 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: $625 · $52/mo
• Projected year-2 tax: $809 · $67/mo
• Expected delta: +$184/yr (+$15/mo · 29.5%)

ⓘ 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 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,596
• − Mortgage interest: −$5,036
• − Property taxes: −$625
• − Insurance: −$450
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$2,615
• Taxable income: $3,535
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $3,951/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: Tulsa
• NCES district ID: 4030240
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 12% ▼ -7.00%
• Median HH income: $37,895
• Composite: 8.04/100
• National rank: #9919
• State rank: #250 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): 15,244
• Household income: $42,054
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 528.0

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 0.72)
• Race & ethnicity: Hispanic / Latino 40% White 24% Black 24% Two or more races 16% Native American 6%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 62% English-only · Spanish 37%

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: ▲ 8.69%
• Current HPI: 277.6663
• Rent YoY: ▲ 1.78%
• 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

+149.7% since first listed

8 events — show timeline

• 2026-04-24 Pending — MLS Technology, Inc.
• 2026-04-10 Listed $89,900 MLS Technology, Inc.
• 1998-02-11 Listing Removed — MLS Technology, Inc.
• 1998-01-21 Listed $35,000 MLS Technology, Inc.
• 1996-07-05 Listing Removed — MLS Technology, Inc.
• 1996-04-05 Listed $33,000 MLS Technology, Inc.
• 1993-08-01 Sold (Public Records) $43,000 Public Records
• 1989-08-01 Sold (Public Records) $36,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $625 · +8.5% YoY. Source: county tax records.