11039 E 15th St · Tulsa, OK 74128

$90,000

2 bd · 1.0 ba · 982 sqft · SingleFamily public records · 8 Days on market

Built 1975 982 sqft lot Est $127k · 29% under $10/mo HOA · 1% of rent

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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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors - All we need is paint & carpet. Air Conditioner 3 or 4 months old. Heat approx 2 years, hot water newer. Pullman bath to hall out of master bath to utility.

Key facts

• Garage
• Community pool
• Built 1975

Property features AI

Finance

• HOA & community: Homeowners association with annual fee; HOA amenities include a park and a pool

Exterior

• Parking: 1-car garage; Carport
• Security: Smoke detector(s); No safety shelter
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Single-story; North-facing; Slab foundation
• Construction: Stone veneer, stucco, and wood frame construction; Asphalt/fiberglass roof
• Exterior features: Concrete driveway; Patio; Privacy fencing; Mature trees

Interior

• Kitchen: Dishwasher; Oven; Range; Disposal; Electric water heater
• Flooring: Carpet; Laminate; Tile
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric and gas); Central air conditioning
• Interior features: Ceiling fan(s); Programmable thermostat; Laminate counters; Aluminum window frames
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/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 10.7% 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: 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: 38 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 $622 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 + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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 $26k; list at $90k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 1.30% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.90%
• DSCR: 1.71
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $126,678
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11039 E 15th St	0.00mi	2/1.0	982 (0%)	1mo	$80,000	$81	100
1455 S 112th East Ave	0.05mi	2/1.0	982 (0%)	2mo	$115,000	$117	96
11056 E 14th Ct	0.02mi	2/1.0	959 (-2%)	2mo	$101,900	$106	93
10928 E 16th St	0.13mi	2/1.0	968 (-1%)	3mo	$98,900	$102	89
11618 E 15th St	0.25mi	2/1.0	983 (+0%)	1mo	$154,000	$157	88
11008 E 14th Ct	0.06mi	2/1.0	1,030 (+5%)	2mo	$89,500	$87	87
11525 E 16th St	0.22mi	3/2.0 (+1)	1,012 (+3%)	5mo	$178,000	$176	72
1514 S 108th EastPlace	0.18mi	2/1.0	872 (-11%)	3mo	$35,000	$40	71
11720 E 20th St	0.57mi	3/1.5 (+1)	962 (-2%)	4mo	$181,000	$188	60
1817 S 119th East Pl E	0.59mi	3/1.0 (+1)	1,029 (+5%)	7mo	$135,500	$132	53
10613 E 18th Pl	0.47mi	3/1.5 (+1)	1,100 (+12%)	7mo	$142,000	$129	45
1824 S 119th EastAvenue	0.53mi	3/2.0 (+1)	1,123 (+14%)	0mo	$174,000	$155	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.8%
• Equity multiple: 1.27×
• Total profit: $6,688
• Equity at exit: $13,419

10-year hold

• IRR: 16.1%
• Equity multiple: 2.32×
• Total profit: $33,210
• Equity at exit: $7,782

Cash invested: $25,200 (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 74128

• Home prices YoY: -21.6%
• Active inventory: 38
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,171 high
• Mortgage (P&I): −$472
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$38
• HOA: −$10
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $334

Break-even live

Break-even rent $748

Max offer price $90,000

Occupancy floor 66%

Sensitivity live

Price	-10% $385	-5% $359	+0% $334	+5% $309	+10% $283
Rent	-10% $241	-5% $288	+0% $334	+5% $380	+10% $427
Rate	-1.0pp $379	-0.5pp $357	base $334	+0.5pp $311	+1.0pp $287

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1448 S 108th East Pl Tulsa, OK	2.0	1.0	982	$1,350	$1.37	17d	1	0.20mi
1433 S 107th East Ave Tulsa, OK	1.0–3.0	1.0–1.5	840	$999	$1.19	20d	3	0.26mi
2140 S 109th East Ave Unit 2158A Tulsa, OK	1.0	1.0	864	$600	$0.69	25d	1	0.65mi
2140 S 109th East Ave Unit 2142C Tulsa, OK	2.0	1.5	1000	$895	$0.90	25d	1	0.65mi
1018 S 107th East Ave Tulsa, OK	1.0–2.0	1.0	807	$925	$1.15	25d	6	0.65mi
1645 S 101st East Ave Tulsa, OK	1.0–3.0	1.0–2.0	1013	$1,624	$1.60	3d	35	0.66mi
10951 E 23rd St Unit 10967 Tulsa, OK	2.0	1.5	800	$1,149	$1.44	4d	1	0.73mi
10951 E 23rd St Unit 10959 Tulsa, OK	2.0	1.5	767	$1,149	$1.50	25d	1	0.73mi
10951 E 23rd St Unit 10967 D Tulsa, OK	1.0	1.5	767	$1,075	$1.40	25d	1	0.73mi
1129 S 124th East Ave Tulsa, OK	2.0	1.0	1100	$1,100	$1.00	17d	1	0.91mi
9743 E 12th St Tulsa, OK	1.0–2.0	1.0–1.5	875	$975	$1.11	17d	3	0.91mi
10124 E 22nd St Tulsa, OK	3.0	2.0	1117	$1,350	$1.21	16d	1	0.93mi
717 S 101st East Ave Tulsa, OK	1.0–2.0	1.0	786	$1,049	$1.33	3d	11	0.94mi
2319 S 119th East Ave Tulsa, OK	3.0	1.0	990	$1,365	$1.38	25d	1	0.96mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.5–2.0	975	$1,199	$1.23	22d	4	1.11mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.0–2.0	950	$1,184	$1.25	3d	4	1.11mi
2756 S 114th East Ave Tulsa, OK	3.0	2.0	1120	$1,650	$1.47	25d	1	1.17mi
912 S 95th East Ave Tulsa, OK	1.0	1.0	650	$765	$1.18	4d	2	1.23mi
444 S Mingo Rd Tulsa, OK	3.0	1.0	800	$1,045	$1.31	17d	5	1.47mi

HOA detail

• Monthly dues: $10 · $120/yr
• Likely covers: water

Listing history 8 events

1. 2026-05-15
   status Pending
2. 2026-05-07
   listed $90,000 Active
3. 2014-06-25
   soldstatus $26,000 173-char remark

   Show marketing remark (173 chars)

   Investors - All we need is paint & carpet. Air Conditioner 3 or 4 months old. Heat approx 2 years, hot water newer. Pullman bath to hall out of master bath to utility.

4. 2014-05-29
   historical 173-char remark

   Show marketing remark (173 chars)

   Investors - All we need is paint & carpet. Air Conditioner 3 or 4 months old. Heat approx 2 years, hot water newer. Pullman bath to hall out of master bath to utility.

5. 2014-05-20
   listed $35,000 173-char remark

   Show marketing remark (173 chars)

   Investors - All we need is paint & carpet. Air Conditioner 3 or 4 months old. Heat approx 2 years, hot water newer. Pullman bath to hall out of master bath to utility.

6. 2012-04-17
   historical
7. 2011-10-24
   listed $25,000
8. 1990-02-01
   soldstatus $23,500

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $860 · $72/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 7/10 Severe 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 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: $14,053
• − Mortgage interest: −$5,041
• − Property taxes: −$860
• − Insurance: −$450
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − HOA: −$120
• − Depreciation: −$2,618
• Taxable income: $2,715
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $3,356/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): 13,751
• Household income: $52,195
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 382.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 38% Two or more races 23% Black 10% Asian 4% Native American 4%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Italian 1% Slovak 1% Romanian 1%
• Foreign-born: 19% · Canada
• Languages at home: 59% English-only · Spanish 36% Other Asian/Pacific 2% Other Indo-European 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: ▼ -66.16%
• Current HPI: 240.6763
• Rent YoY: —
• 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

+283.0% since first listed

8 events — show timeline

• 2026-05-15 Pending — MLS Technology, Inc.
• 2026-05-07 Listed $90,000 MLS Technology, Inc.
• 2014-06-25 Sold (MLS) $26,000 MLS Technology, Inc.
• 2014-05-29 Listing Removed — MLS Technology, Inc.
• 2014-05-20 Listed $35,000 MLS Technology, Inc.
• 2012-04-17 Listing Removed — MLS Technology, Inc.
• 2011-10-24 Listed $25,000 MLS Technology, Inc.
• 1990-02-01 Sold (Public Records) $23,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $860 · +8.6% YoY. Source: county tax records.