218 S Richmond Ave · Tulsa, OK 74112

$60,000

2 bd · 1.0 ba · 827 sqft · SingleFamily public records · 1 Days on market

Built 1930 7,500 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Distressed home. Come make it great, again! Home is near Rogers High School and the University of Tulsa.

Key facts

• 7,500 sq ft lot
• Garage
• Built 1930

Tags

• NEAR ROGERS HIGH SCHOOL
• NEAR UNIVERSITY OF TULSA

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer; High speed internet available; Fiber optic available; Satellite internet available
• Home design: Single-story home; Faces east; Crawlspace foundation
• Construction: Vinyl siding with wood frame construction; Asphalt/fiberglass roof; Built per public records
• Exterior features: Dirt driveway; No additional exterior features listed

Interior

• Kitchen: Kitchen on first level
• Bedrooms: Master bedroom (first level); Additional bedroom (first level)
• Bathrooms: One full bathroom (first level) with bathtub
• Interior features: Aluminum framed windows; Decorative fireplace (1)
• Laundry & utility: Utility room (inside, first level); No hot water (appliance note)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Cap rate 18.9% 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 fast (+4.7%/yr); 116 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $415 of loan paydown is wiped out by about $2k 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 + 4.7% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1930 — 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: 2.14% ✓
• Cap rate: 18.93%
• Cash-on-cash: 45.13%
• DSCR: 3.01
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $150,514
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
925 S Richmond Ave	0.56mi	2/1.0	871 (+5%)	5mo	$135,500	$156	61
3612 E 3rd St	0.40mi	2/1.0	710 (-14%)	1mo	$179,900	$253	57
111 Quebec Ave	0.43mi	2/1.0	936 (+13%)	3mo	$119,500	$128	55
524 S Pittsburg Ave	0.33mi	2/1.0	907 (+10%)	16mo	$162,000	$179	55
806 S New Haven Ave	0.52mi	2/1.0	897 (+8%)	9mo	$199,999	$223	54
3911 E Admiral Ct	0.41mi	3/2.0 (+1)	923 (+12%)	2mo	$175,000	$190	51
68 N Harvard Ave	0.73mi	2/2.0	816 (-1%)	11mo	$175,000	$214	50
716 S Louisville Ave	0.59mi	2/1.0	902 (+9%)	12mo	$173,000	$192	48
703 N Knoxville Ave	0.66mi	2/1.0	915 (+11%)	10mo	$165,000	$180	43
3210 E 3rd St	0.74mi	1/1.0 (-1)	898 (+9%)	10mo	$163,000	$182	38
4620 E Independence St	0.68mi	2/1.0	739 (-11%)	15mo	$121,698	$165	38
3510 E 7th St	0.62mi	1/1.0 (-1)	899 (+9%)	19mo	$148,000	$165	36

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 · 4.73% rent growth · sell at horizon

5-year hold

• IRR: 44.1%
• Equity multiple: 2.95×
• Total profit: $32,784
• Equity at exit: $8,946

10-year hold

• IRR: 50.8%
• Equity multiple: 6.36×
• Total profit: $90,010
• Equity at exit: $5,188

Cash invested: $16,800 (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 74112

• Rents YoY: 4.7%
• Active inventory: 116
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$315
• Tax from tax record: −$42 /mo · $503/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $632

Break-even live

Break-even rent $483

Max offer price $60,000

Occupancy floor 46%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43 S Toledo Ave Tulsa, OK	3.0	2.0	884	$1,650	$1.87	16d	1	0.16mi
537 S Marion Ave Tulsa, OK	2.0	1.0	933	$1,325	$1.42	3d	1	0.47mi
3328 E 7th St Tulsa, OK	2.0	1.0	1008	$1,525	$1.51	16d	1	0.72mi
3238 E Easton St Tulsa, OK	2.0	1.0	800	$1,150	$1.44	3d	1	0.80mi
917 N Yale Ave Tulsa, OK	1.0–2.0	1.0	725	$725	$1.00	23d	1	0.88mi
44 S Florence Ave Tulsa, OK	2.0	1.0	1080	$1,450	$1.34	23d	1	0.91mi
1316 S Oswego Ave Tulsa, OK	2.0	1.0	975	$1,295	$1.33	23d	1	0.95mi
4703 E Latimer Pl Tulsa, OK	2.0	1.0	1103	$1,290	$1.17	3d	1	1.00mi
1307 S Indianapolis Ave Tulsa, OK	2.0	1.0	1108	$1,990	$1.80	2d	1	1.06mi
2808 E 1st Pl Unit P21-Q Tulsa, OK	2.0	1.0	1025	$1,250	$1.22	23d	1	1.11mi
3336 E Marshall St Unit 10 Tulsa, OK	1.0	1.0	575	$799	$1.39	23d	1	1.13mi
3336 E Marshall St Unit 06 Tulsa, OK	1.0	1.0	700	$895	$1.28	23d	1	1.13mi
3326 E Marshall St Apt 4 Tulsa, OK	2.0	1.0	750	$925	$1.23	23d	1	1.13mi
3326 E Marshall St Unit 1 Tulsa, OK	2.0	1.0	700	$825	$1.18	23d	1	1.13mi
3811 E 15th St Unit A Tulsa, OK	1.0	1.0	600	$995	$1.66	11d	1	1.15mi
1115 S College Ave Unit 06 Tulsa, OK	1.0	1.0	725	$1,175	$1.62	23d	1	1.16mi
1115 S College Ave Unit 16 Tulsa, OK	2.0	1.0	775	$1,275	$1.65	23d	1	1.16mi
1115 S College Ave Tulsa, OK	1.0	1.0	725	$1,175	$1.62	3d	1	1.16mi
1140 S College Ave Unit C Tulsa, OK	2.0	1.5	840	$1,650	$1.96	23d	1	1.23mi
1123 S Delaware Pl Unit B Tulsa, OK	1.0	1.0	825	$1,300	$1.58	23d	1	1.27mi
1340 S Florence Ave Tulsa, OK	1.0	1.0	750	$1,150	$1.53	23d	1	1.33mi
6330 E 7th St Apt 12 Tulsa, OK	2.0	1.0	850	$1,025	$1.21	3d	1	1.39mi
2614 E Archer St Tulsa, OK	1.0	1.0	845	$900	$1.07	3d	1	1.40mi
2628 E 8th St Unit 05 Tulsa, OK	1.0	1.0	621	$1,015	$1.63	11d	1	1.40mi
2618 E 8th St Unit J Tulsa, OK	1.0	1.0	600	$795	$1.32	23d	1	1.43mi
2532 E 4th St Tulsa, OK	2.0	2.0	1088	$800	$0.74	23d	1	1.43mi
2606 E 7th St Tulsa, OK	1.0	1.0	625	$1,125	$1.80	3d	1	1.44mi
1626 S Indianapolis Ave Tulsa, OK	1.0	1.0	850	$1,050	$1.24	2d	1	1.45mi
2529 E Admiral Pl Unit A Tulsa, OK	2.0	1.0	1100	$1,295	$1.18	23d	1	1.46mi

Listing history 5 events

1. 2026-04-29
   status Pending
2. 2026-04-29
   listed $60,000 Active
3. 2025-08-11
   status Pending
4. 2025-08-11
   historical
5. 2025-07-31
   listed $49,900 Active

ⓘ 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: $503 · $42/mo
• Projected year-2 tax: $540 · $45/mo
• Expected delta: +$37/yr (+$3/mo · 7.4%)

ⓘ 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 · 17 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: $15,392
• − Mortgage interest: −$3,361
• − Property taxes: −$503
• − Insurance: −$300
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$1,745
• Taxable income: $7,020
• Est. tax owed @ 24.0%: −$1,685
• After-tax cash flow: $5,896/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): 21,386
• Household income: $58,951
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 755.0

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 0.64)
• Race & ethnicity: White 56% Hispanic / Latino 20% Two or more races 16% Black 9% Native American 6% Asian 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 82% English-only · Spanish 15% Other Asian/Pacific 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: ▼ -207.46%
• Current HPI: 271.3292
• Rent YoY: ▲ 4.73%
• 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

+20.2% since first listed

5 events — show timeline

• 2026-04-29 Pending — MLS Technology, Inc.
• 2026-04-29 Listed $60,000 MLS Technology, Inc.
• 2025-08-11 Pending — MLS Technology, Inc.
• 2025-08-11 Listing Removed — MLS Technology, Inc.
• 2025-07-31 Listed $49,900 MLS Technology, Inc.

Property tax history

+4.6%/yr

Latest (2025): $503 · +8.4% YoY. Source: county tax records.