LAREDO Plan · Tulsa, OK 74008

$370,900

4 bd · 3.0 ba · 2,111 sqft · SingleFamily · 48 Days on market

Good condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +4.9/30.0
• Schools +4.8/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• 1% rule +0.7/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Watercrest Cottages in South Tulsa, Oklahoma, where the Lakeway offers an exceptional blend of luxury, style, and versatility. This exquisite home showcases a beautiful brick and rock exterior and 10-foot interior vaulted ceilings. As you step through the front door, you're welcomed by a grand entry that sets the stage for an open, airy atmosphere throughout the home. The gourmet kitchen is a chef's dream, complete with sleek painted shaker cabinets, stunning quartz countertops, and a spacious island-ideal for casual meals or hosting gatherings with family and friends.

Key facts

• Spacious island
• Quartz countertops
• Gourmet kitchen

Tags

• BRICK AND ROCK EXTERIOR
• GOURMET KITCHEN
• PAINTED SHAKER CABINETS
• QUARTZ COUNTERTOPS
• SPACIOUS ISLAND
• FLEX ROOM

🏗️ New construction. The $370,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $411,343.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $371k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-987 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (27.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (36.7% below list).
• Recommended offer: $235k (36.7% below list) — sets the bar for 1% rule.

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: crime F, employment D-.
• Bixby (suburban): math 39% / reading 36% proficiency, ranked #15 of 270 in OK (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Bixby North Es (math 72% / reading 57%, grade B, #3 of 845 statewide, top 0%, 716 students, 0% FRL); Bixby Ms (math 37% / reading 30%, grade F, #33 of 345 statewide, top 10%, 1,216 students, 0% FRL); Bixby Hs (math 42% / reading 48%, grade D-, #13 of 447 statewide, top 3%, 2,102 students, 0% FRL) — zoned schools average 0% FRL vs 19% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 1205 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $3k of loan paydown is wiped out by about $12k 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 48 days — a 3% lower offer ($360k) is reasonable based on typical stale-listing flexibility.

Recommended offer $234,909 (36.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.57% ✗
• Cap rate: 3.41%
• Cash-on-cash: -10.28%
• DSCR: 0.54
• GRM: 14.6

CMA / ARV

• ARV (median comp): $411,343
• List price: $370,900
• Delta: -9.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6029 E 123rd St S	0.29mi	4/3.0	1,941 (-8%)	1mo	$387,000	$199	72
12722 S Maplewood Ave E	0.24mi	4/3.0	2,315 (+10%)	2mo	$585,000	$253	72
6044 E 127th St S	0.25mi	3/2.0 (-1)	2,045 (-3%)	4mo	$388,000	$190	71
6021 E 127 St S	0.27mi	3/2.5 (-1)	2,195 (+4%)	4mo	$393,900	$179	71
12635 S Granite Ave	0.50mi	3/3.0 (-1)	2,246 (+6%)	0mo	$515,000	$229	61
5311 E 126th Pl S	0.65mi	3/2.0 (-1)	2,157 (+2%)	3mo	$479,000	$222	55
5917 E 126th Pl S	0.32mi	3/2.0 (-1)	1,857 (-12%)	2mo	$365,000	$197	55
5403 E 126th St S	0.61mi	3/3.0 (-1)	2,255 (+7%)	3mo	$479,900	$213	53
6610 E 119th St S	0.67mi	4/2.0	2,258 (+7%)	3mo	$475,000	$210	51
12533 S 73rd EastPlace	0.69mi	4/2.5	2,380 (+13%)	1mo	$439,000	$184	43
7207 E 131st Pl S	0.73mi	4/2.5	1,866 (-12%)	2mo	$334,000	$179	43
11920 S 68th East Ave	0.68mi	3/2.0 (-1)	2,378 (+13%)	1mo	$488,744	$206	37

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 · 3.34% rent growth · sell at horizon

5-year hold

• IRR: -34.5%
• Equity multiple: -0.12×
• Total profit: $-128,671
• Equity at exit: $61,333

10-year hold

• IRR: -42.1%
• Equity multiple: -0.65×
• Total profit: $-189,508
• Equity at exit: $35,565

Cash invested: $115,176 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 74 active · 33 under contract
• Months of supply: 16.4 mo (6%/mo absorbed)
• Median asking: $397,500 ($187/sqft)
• Median days on market: 105 d
• This list price: 31% of active listings are priced below it
• ARV vs active asking: +4.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 74008

• Rents YoY: 3.3%
• Active inventory: 1205
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$2,157
• Tax est. 1.5%: −$514 /mo · $6,170/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $-987

Break-even live

Break-even rent $3,598

Max offer price $268,534

Occupancy floor —

Sensitivity live

Price	-10% $-703	-5% $-845	+0% $-987	+5% $-1,129	+10% $-1,271
Rent	-10% $-1,172	-5% $-1,080	+0% $-987	+5% $-894	+10% $-801
Rate	-1.0pp $-780	-0.5pp $-882	base $-987	+0.5pp $-1,094	+1.0pp $-1,202

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: $102,836
• Closing costs: $12,340
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6460 E 125th St S Bixby, OK	4.0	2.0	1853	$2,200	$1.19	5d	1	0.01mi
6460 E 125th St S Bixby, OK	4.0	2.0	1853	$2,200	$1.19	7d	1	0.01mi
12420 S Oxford Ave Bixby, OK	4.0	3.0	1941	$2,295	$1.18	15d	1	0.17mi
6303 E 123rd St S Bixby, OK	4.0	2.0	1851	$2,315	$1.25	5d	1	0.27mi
6795 E 130th Pl S Bixby, OK	3.0	2.0	1454	$1,795	$1.23	55d	1	0.50mi
13135 S 72nd East Ave Bixby, OK	4.0	2.5	2095	$2,395	$1.14	43d	1	0.76mi
13126 S 72nd East Pl Bixby, OK	4.0	3.0	1929	$2,300	$1.19	144d	1	0.77mi
12537 S 75th East Ave Bixby, OK	4.0	2.0	2088	$2,700	$1.29	36d	1	0.78mi
13139 S 72nd Pl Bixby, OK	4.0	2.0	2232	$2,300	$1.03	23d	1	0.82mi
13139 S 72nd Pl Bixby, OK	4.0	2.0	2232	$2,300	$1.03	10d	1	0.82mi
13442 S 72nd Pl Bixby, OK	4.0	3.0	1947	$2,200	$1.13	2d	1	0.99mi
7212 E 135th St S Bixby, OK	4.0	3.0	1929	$2,200	$1.14	23d	1	1.04mi
13441 S 72nd Pl Bixby, OK	4.0	3.0	1926	$2,350	$1.22	55d	1	1.04mi
7224 E 135th St S Bixby, OK	4.0	3.0	2023	$2,200	$1.09	23d	1	1.06mi
8408 E 125th St S Bixby, OK	3.0	2.0	1498	$1,725	$1.15	2d	1	1.17mi
8432 E 126th St S Bixby, OK	3.0	2.0	1479	$1,900	$1.28	37d	1	1.23mi
8554 E 127th St S Bixby, OK	4.0	2.0	1515	$1,795	$1.18	144d	1	1.36mi

Listing history 14 events

1. 2026-06-18
   days on market $370,900 Active 48 DOM
2. 2026-06-17
   days on market $370,900 Active 47 DOM
3. 2026-06-16
   days on market $370,900 Active 46 DOM
4. 2026-06-15
   days on market $370,900 Active 45 DOM
5. 2026-06-13
   days on market $370,900 Active 43 DOM
6. 2026-06-13
   days on market $370,900 Active 42 DOM
7. 2026-06-10
   days on market $370,900 Active 40 DOM
8. 2026-06-09
   days on market $370,900 Active 39 DOM
9. 2026-06-08
   days on market $370,900 Active 38 DOM
10. 2026-06-07
    pricedays on market $370,900 Active 37 DOM
11. 2026-06-03
    days on market $349,900 Active 33 DOM
12. 2026-06-02
    days on market $349,900 Active 32 DOM
13. 2026-06-01
    days on market $349,900 Active 31 DOM
14. 2026-05-31
    days on market $349,900 Active 30 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,189
• − Mortgage interest: −$23,042
• − Property taxes: −$6,170
• − Insurance: −$2,057
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − Depreciation: −$11,966
• Taxable loss: −$19,556
• Est. tax savings @ 24.0%: +$4,693
• After-tax cash flow: $-7,150/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.

Condition & rehab AI · 6 photos

Good 80/100 None rehab

This home is in excellent condition with a good layout and high-end finishes. It is move-in ready with minor maintenance items to address. Potential updates could include painting the exterior and replacing countertops for a fresh look.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value. ↑
• Resale Replace countertops — Quartz countertops are durable but can be replaced for a fresh look. ↑
• Both Install smart home devices — Improves convenience and adds modern appeal, enhancing both resale and rental value. ↑

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Bixby North Es B OK #3/845 Nat'l #5,189/41,679 Middle Bixby Ms F OK #33/345 Nat'l #7,937/14,009 High Bixby Hs D- OK #13/447 Nat'l #6,809/17,239

Schools (NCES district)

• District: Bixby
• NCES district ID: 4004500
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $75,727
• Composite: 34.9/100
• National rank: #5081
• State rank: #15 of 270 in OK

B Composite livability gradescore 75/100

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 · 723,846 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 34,006
• Household income: $104,000
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 15% Hispanic / Latino 9% Native American 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 5%
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1%

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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: ▼ -127.20%
• Current HPI: 195.2538
• Rent YoY: ▲ 3.34%
• Metro: Tulsa, OK
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

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Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B