4901 S Hickory Ave · Broken Arrow, OK 74011

$320,000

3 bd · 4.0 ba · 2,232 sqft · MultiFamily public records · 73 Days on market

Built 1981 0.31 ac lot Est $243k · 32% over

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Why this score? — see what drove the C- 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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +5.8/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investors property! Fully occupied and stabilized investment duplex in South Broken Arrow. 3 bedroom/2 bath for each unit (4901/4903), attached garage, nice backyard and just a half mile away from the Creek Turnpike with for quick access to Tulsa. Coming Soon, no showings or offers til 11/21/2021.

Key facts

• Investment property
• Good size backyard
• Fully occupied

Tags

• INVESTMENT PROPERTY
• FULLY OCCUPIED
• STABILIZED INVESTMENT DUPLEX
• GOOD SIZE BACKYARD
• QUICK ACCESS TO TULSA

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Security: Smoke detector(s); No safety shelter
• Utilities: Public water; Public sewer; Utilities listed as unknown for other services
• Home design: Single-story home; Faces west; Slab foundation
• Construction: Built using brick, stone, and wood frame; Asphalt/fiberglass roof
• Exterior features: Satellite dish; Chain link and privacy fencing

Interior

• Kitchen: Oven/Range/Stove; Dishwasher; Garbage disposal
• Bedrooms: Master bedroom with private bath and separate closets (First floor); Additional bedrooms (First floor)
• Flooring: Carpet
• Bathrooms: Two full bathrooms (including a master bath and a hall bath)
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Laminate countertops; Smoke detector(s)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/4.0-bath multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $320k).
• Recommended offer: $301k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.0% in Broken Arrow — 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 78/100 on livability (#7 in OK, #2,691 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Broken Arrow (suburban): math 23% / reading 28% proficiency, ranked #79 of 270 in OK (top 29%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Aspen Creek Es (math 23% / reading 22%, grade F, #409 of 845 statewide, top 49%, 628 students, 0% FRL); Childers Ms (math 16% / reading 28%, grade F, #129 of 345 statewide, top 42%, 796 students, 0% FRL); Broken Arrow Hs (math 22% / reading 36%, grade F, #120 of 447 statewide, top 27%, 4,589 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 385 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 42% of the median local income ($99k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($301k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $240k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $300,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $243,288
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4421 S Gum Ave	0.42mi	3/2.0	2,430 (+9%)	22mo	$263,900	$109	40

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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-7,554
• Equity at exit: $47,713

10-year hold

• IRR: 8.6%
• Equity multiple: 1.69×
• Total profit: $61,552
• Equity at exit: $27,668

Cash invested: $89,600 (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 74011

• Rents YoY: 4.1%
• Active inventory: 385
• Price-to-rent: 15.4×

Monthly cashflow live

• Estimated rent: $3,456 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$283 /mo · $3,397/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$726
• Net cashflow: $636

Break-even live

Break-even rent $2,651

Max offer price $320,000

Occupancy floor 77%

Sensitivity live

Price	-10% $817	-5% $726	+0% $636	+5% $545	+10% $455
Rent	-10% $363	-5% $499	+0% $636	+5% $772	+10% $909
Rate	-1.0pp $797	-0.5pp $717	base $636	+0.5pp $553	+1.0pp $468

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,456
Total (2 units)			$3,456

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4325 S Ash Ave Broken Arrow, OK	4.0	2.0	1400	$1,578	$1.13	23d	1	0.82mi
4308 S Walnut Ave Broken Arrow, OK	3.0	2.5	2659	$2,400	$0.90	25d	1	0.89mi
4623 S Chestnut Ave Broken Arrow, OK	4.0	3.0	2023	$3,800	$1.88	21d	1	0.94mi
6308 S 1st Pl Broken Arrow, OK	3.0	2.0	1600	$3,400	$2.12	18d	1	1.06mi

Listing history 16 events

1. 2026-05-08
   status Pending
2. 2026-04-22
   price $320,000
3. 2026-04-03
   price $330,000
4. 2026-03-09
   price $340,000
5. 2026-02-23
   listed $360,000 Active
6. 2025-09-14
   historical $1,200
7. 2025-09-03
   price $1,200
8. 2025-08-18
   listed $1,300
9. 2021-12-20
   soldstatus $240,000
10. 2021-12-14
    soldstatus $240,000 Closed 304-char remark

    Show marketing remark (304 chars)

    Great investors property! Fully occupied and stabilized investment duplex in South Broken Arrow. 3 bedroom/2 bath for each unit (4901/4903), attached garage, nice backyard and just a half mile away from the Creek Turnpike with for quick access to Tulsa. Coming Soon, no showings or offers til 11/21/2021.

11. 2021-11-24
    status Pending 304-char remark

    Show marketing remark (304 chars)

    Great investors property! Fully occupied and stabilized investment duplex in South Broken Arrow. 3 bedroom/2 bath for each unit (4901/4903), attached garage, nice backyard and just a half mile away from the Creek Turnpike with for quick access to Tulsa. Coming Soon, no showings or offers til 11/21/2021.

12. 2021-11-19
    listed $235,000 Active 304-char remark

    Show marketing remark (304 chars)

    Great investors property! Fully occupied and stabilized investment duplex in South Broken Arrow. 3 bedroom/2 bath for each unit (4901/4903), attached garage, nice backyard and just a half mile away from the Creek Turnpike with for quick access to Tulsa. Coming Soon, no showings or offers til 11/21/2021.

13. 2020-09-09
    soldstatus $165,000
14. 2020-09-09
    soldstatus $165,000
15. 2018-01-02
    soldstatus $150,000
16. 2003-05-02
    soldstatus $138,500

ⓘ 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: $3,397 · $283/mo
• Projected year-2 tax: $3,397 · $283/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 7/10 Severe 7 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $41,472
• − Mortgage interest: −$17,925
• − Property taxes: −$3,397
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,318
• − Management: −$3,318
• − Depreciation: −$9,309
• Taxable income: $2,605
• Est. tax owed @ 24.0%: −$625
• After-tax cash flow: $7,003/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: Broken Arrow
• NCES district ID: 4005490
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -9.00%
• Median HH income: $64,646
• Composite: 23.86/100
• National rank: #7801
• State rank: #79 of 270 in OK

Livability — Broken Arrow

• Score: 78/100
• State rank: #7
• US rank: #2691

Category grades

Amenities F Commute A+ Cost of living A+ Crime B+ Employment B+ Housing A+ Health & safety C+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broken Arrow, OK
• County: Tulsa County · 640,811 people
• City population: 144,172
• Metro: Tulsa, OK
• Population (ZIP): 33,900
• Household income: $99,157
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 389.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 15% Hispanic / Latino 10% Native American 4% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 5% 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: ▼ -180.15%
• Current HPI: 210.8302
• Rent YoY: ▲ 4.09%
• 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

+131.0% since first listed

16 events — show timeline

• 2026-05-08 Pending — MLS Technology, Inc.
• 2026-04-22 Price Changed $320,000 MLS Technology, Inc.
• 2026-04-03 Price Changed $330,000 MLS Technology, Inc.
• 2026-03-09 Price Changed $340,000 MLS Technology, Inc.
• 2026-02-23 Listed $360,000 MLS Technology, Inc.
• 2025-09-14 Rental Removed $1,200 APPFOLIO
• 2025-09-03 Price Changed $1,200 APPFOLIO
• 2025-08-18 Listed for Rent $1,300 APPFOLIO
• 2021-12-20 Sold (Public Records) $240,000 Public Records
• 2021-12-14 Sold (MLS) $240,000 MLS Technology, Inc.
• 2021-11-24 Pending — MLS Technology, Inc.
• 2021-11-19 Listed $235,000 MLS Technology, Inc.
• 2020-09-09 Sold (Public Records) $165,000 Public Records
• 2020-09-09 Sold (Public Records) $165,000 Public Records
• 2018-01-02 Sold (Public Records) $150,000 Public Records
• 2003-05-02 Sold (Public Records) $138,500 Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,397 · -0.1% YoY. Source: county tax records.