3720 E 2nd St · Tulsa, OK 74112

$99,900

2 bd · 1.0 ba · 919 sqft · SingleFamily public records · 6 Days on market

Built 1949 Est $152k · 34% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• 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 MLS

PC1445, VERY CLEAN, RECENT FLOOR IN KITCHEN, LIVING/DINING COMBO, HARDWOODS UNDER CARPET, ATTIC FAN. RECENT CENTRAL HEAT & AIR. ENCLOSED FRONT PORCH. NEEDS UPDATING.

Key facts

• City utilities
• Wood floors
• Prime location

Tags

• WOOD FLOORS
• CHAIN LINK FENCED YARD
• CITY UTILITIES
• PRIME LOCATION

Property features AI

Finance

• Other: Property located in Morgan Heights First Addition; Directions: In Tulsa, Harvard Avenue south, turn left onto 2nd Street; property is on the right.

Exterior

• Parking: Attached garage with 1 covered space; Concrete driveway
• Utilities: Utilities: Other (see remarks)
• Home design: Single-family house; One story
• Construction: Asphalt shingle roof; Other construction materials (see remarks)
• Exterior features: Covered patio/porch; Fencing (see remarks); Paved road access; Publicly maintained road

Interior

• Kitchen: Gas water heater; Other kitchen appliances
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (other type); Has cooling (other type)
• Interior features: Other interior features
• Laundry & utility: Electric dryer hookup

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 $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.2% vs local median 3.8% 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: 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.
• Zoned schools: Kendall-Whittier Es (math 2% / reading 3%, grade F, #802 of 845 statewide, top 100%, 818 students, 0% FRL); Monroe Demonstration Ms (math 0% / reading 2%, grade F, #344 of 345 statewide, top 100%, 688 students, 0% FRL); Booker T. Washington Hs (math 41% / reading 61%, grade D+, #2 of 447 statewide, top 0%, 1,280 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 117 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 25y 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 $44k; list at $100k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $99,900

Questions for the listing agent

1. Built in 1949 — 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: 1.25% ✓
• Cap rate: 10.20%
• Cash-on-cash: 13.97%
• DSCR: 1.62
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $151,635
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3911 E Admiral Ct	0.28mi	3/2.0 (+1)	923 (+0%)	2mo	$175,000	$190	76
111 Quebec Ave	0.44mi	2/1.0	936 (+2%)	3mo	$119,500	$128	74
411 S Quebec Ave	0.36mi	2/1.0	980 (+7%)	1mo	$220,000	$224	71
3322 E 3rd St	0.26mi	2/1.0	1,026 (+12%)	1mo	$130,000	$127	68
227 S Toledo Ave	0.49mi	3/1.0 (+1)	956 (+4%)	1mo	$158,000	$165	65
3741 E 2nd St	0.06mi	3/1.5 (+1)	1,048 (+14%)	3mo	$160,000	$153	64
111 Waverly Dr	0.48mi	2/1.0	1,009 (+10%)	2mo	$189,900	$188	60
206 S Sandusky Ave	0.39mi	2/1.0	1,022 (+11%)	7mo	$182,500	$179	57
3533 E King St	0.71mi	2/1.0	893 (-3%)	7mo	$92,000	$103	57
925 S Richmond Ave	0.73mi	2/1.0	871 (-5%)	5mo	$135,500	$156	53
250 S Richmond Ave	0.36mi	3/1.5 (+1)	1,050 (+14%)	5mo	$84,000	$80	48
923 S New Haven Ave	0.64mi	3/1.0 (+1)	1,003 (+9%)	6mo	$197,000	$196	45

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: 6.1%
• Equity multiple: 1.24×
• Total profit: $6,751
• Equity at exit: $14,895

10-year hold

• IRR: 16.9%
• Equity multiple: 2.50×
• Total profit: $41,942
• 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 74112

• Rents YoY: 4.7%
• Active inventory: 117
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$524
• Tax from tax record: −$92 /mo · $1,102/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $326

Break-even live

Break-even rent $832

Max offer price $99,900

Occupancy floor 69%

Sensitivity live

Price	-10% $382	-5% $354	+0% $326	+5% $297	+10% $269
Rent	-10% $227	-5% $276	+0% $326	+5% $375	+10% $424
Rate	-1.0pp $376	-0.5pp $351	base $326	+0.5pp $300	+1.0pp $273

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 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
537 S Marion Ave Tulsa, OK	2.0	1.0	933	$1,325	$1.42	5d	1	0.42mi
43 S Toledo Ave Tulsa, OK	3.0	2.0	884	$1,650	$1.87	17d	1	0.48mi
3238 E Easton St Tulsa, OK	2.0	1.0	800	$1,150	$1.44	5d	1	0.50mi
3328 E 7th St Tulsa, OK	2.0	1.0	1008	$1,525	$1.51	17d	1	0.56mi
44 S Florence Ave Tulsa, OK	2.0	1.0	1080	$1,450	$1.34	25d	1	0.57mi
2808 E 1st Pl Unit P21-Q Tulsa, OK	2.0	1.0	1025	$1,250	$1.22	25d	1	0.77mi
3336 E Marshall St Unit 06 Tulsa, OK	1.0	1.0	700	$895	$1.28	25d	1	0.94mi
3336 E Marshall St Unit 10 Tulsa, OK	1.0	1.0	575	$799	$1.39	25d	1	0.94mi
3326 E Marshall St Apt 4 Tulsa, OK	2.0	1.0	750	$925	$1.23	25d	1	0.95mi
3326 E Marshall St Unit 1 Tulsa, OK	2.0	1.0	700	$825	$1.18	25d	1	0.95mi
1115 S College Ave Tulsa, OK	1.0	1.0	725	$1,175	$1.62	5d	1	0.96mi
1115 S College Ave Unit 06 Tulsa, OK	1.0	1.0	725	$1,175	$1.62	25d	1	0.97mi
1115 S College Ave Unit 16 Tulsa, OK	2.0	1.0	775	$1,275	$1.65	25d	1	0.97mi
1307 S Indianapolis Ave Tulsa, OK	2.0	1.0	1108	$1,990	$1.80	3d	1	1.00mi
1316 S Oswego Ave Tulsa, OK	2.0	1.0	975	$1,295	$1.33	25d	1	1.00mi
917 N Yale Ave Tulsa, OK	1.0–2.0	1.0	725	$725	$1.00	25d	1	1.03mi
1140 S College Ave Unit C Tulsa, OK	2.0	1.5	840	$1,650	$1.96	25d	1	1.03mi
2614 E Archer St Tulsa, OK	1.0	1.0	845	$900	$1.07	5d	1	1.06mi
1123 S Delaware Pl Unit B Tulsa, OK	1.0	1.0	825	$1,300	$1.58	25d	1	1.06mi
4703 E Latimer Pl Tulsa, OK	2.0	1.0	1103	$1,290	$1.17	5d	1	1.07mi
2532 E 4th St Tulsa, OK	2.0	2.0	1088	$800	$0.74	25d	1	1.11mi
2529 E Admiral Pl Unit A Tulsa, OK	2.0	1.0	1100	$1,295	$1.18	25d	1	1.11mi
2628 E 8th St Unit 05 Tulsa, OK	1.0	1.0	621	$1,015	$1.63	13d	1	1.13mi
2606 E 7th St Tulsa, OK	1.0	1.0	625	$1,125	$1.80	5d	1	1.15mi
2618 E 8th St Unit J Tulsa, OK	1.0	1.0	600	$795	$1.32	25d	1	1.16mi
3811 E 15th St Unit A Tulsa, OK	1.0	1.0	600	$995	$1.66	13d	1	1.18mi
1340 S Florence Ave Tulsa, OK	1.0	1.0	750	$1,150	$1.53	25d	1	1.19mi
2516 E 6th St Unit 2 Tulsa, OK	1.0	1.0	630	$999	$1.59	5d	1	1.22mi
2435 E 10th St Tulsa, OK	3.0	1.0	1040	$1,650	$1.59	5d	1	1.36mi
2432 E 10th St Unit 1 Tulsa, OK	1.0	1.0	600	$1,000	$1.67	5d	1	1.39mi
2432 E 10th St Apt 5 Tulsa, OK	1.0	1.0	600	$825	$1.38	3d	1	1.39mi
1626 S Indianapolis Ave Tulsa, OK	1.0	1.0	850	$1,050	$1.24	4d	1	1.42mi
1507 N Florence Ave Tulsa, OK	3.0	1.0	1000	$1,100	$1.10	25d	1	1.44mi

Listing history 6 events

1. 2026-05-22
   status Pending
2. 2026-05-17
   listed $99,900 Active
3. 2001-08-31
   soldstatus $44,350 171-char remark

   Show marketing remark (171 chars)

   PC1445, VERY CLEAN, RECENT FLOOR IN KITCHEN, LIVING/DINING COMBO, HARDWOODS UNDER CARPET, ATTIC FAN. RECENT CENTRAL HEAT & AIR. ENCLOSED FRONT PORCH. NEEDS UPDATING.

4. 2001-08-31
   soldstatus $45,000

   Show marketing remark (171 chars)

   PC1445, VERY CLEAN, RECENT FLOOR IN KITCHEN, LIVING/DINING COMBO, HARDWOODS UNDER CARPET, ATTIC FAN. RECENT CENTRAL HEAT & AIR. ENCLOSED FRONT PORCH. NEEDS UPDATING.

5. 2001-08-10
   historical 171-char remark

   Show marketing remark (171 chars)

   PC1445, VERY CLEAN, RECENT FLOOR IN KITCHEN, LIVING/DINING COMBO, HARDWOODS UNDER CARPET, ATTIC FAN. RECENT CENTRAL HEAT & AIR. ENCLOSED FRONT PORCH. NEEDS UPDATING.

6. 2001-07-23
   listed $49,000 171-char remark

   Show marketing remark (171 chars)

   PC1445, VERY CLEAN, RECENT FLOOR IN KITCHEN, LIVING/DINING COMBO, HARDWOODS UNDER CARPET, ATTIC FAN. RECENT CENTRAL HEAT & AIR. ENCLOSED FRONT PORCH. NEEDS UPDATING.

ⓘ 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: $1,102 · $92/mo
• Projected year-2 tax: $1,102 · $92/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 ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $14,931
• − Mortgage interest: −$5,596
• − Property taxes: −$1,102
• − Insurance: −$500
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$2,906
• Taxable income: $2,438
• Est. tax owed @ 24.0%: −$585
• After-tax cash flow: $3,322/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

+103.9% since first listed

6 events — show timeline

• 2026-05-22 Pending — WRVBOR
• 2026-05-17 Listed $99,900 WRVBOR
• 2001-08-31 Sold (Public Records) $45,000 Public Records
• 2001-08-31 Sold (MLS) $44,350 MLS Technology, Inc.
• 2001-08-10 Listing Removed — MLS Technology, Inc.
• 2001-07-23 Listed $49,000 MLS Technology, Inc.

Property tax history

+2.5%/yr

Latest (2025): $1,102 · +7.0% YoY. Source: county tax records.