1426 SW 28th St · Oklahoma City, OK 73108

$118,000

3 bd · 2.0 ba · 1,420 sqft · SingleFamily public records · 33 Days on market

Built 1950 5,179 sqft lot Est $128k · 8% under

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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 +20.3/30.0
• ARV discount +11.0/15.0
• Appreciation +7.5/10.0
• DSCR +6.4/10.0
• 1% rule +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks MLS

Freddiemac/homesteps property. Selling in as is condition.......First iniative time period ends 6/18/2011......2yr HOW to owner occupant. Buyer to be responsible for a gas test and city inspection.

Key facts

• Hvac replaced
• Storage shed
• Roof replaced

Tags

• STORAGE SHED
• ROOF REPLACED
• HVAC REPLACED

Property features AI

Finance

• Other: Located in Industrial Add; Homestead not indicated; No storm shelter; Living area reported as 1,420 (assessor)
• Financial info: Property is existing; Assumable loan status: Unknown
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One level; Property faces south; Residential property
• Construction: Brick exterior; Composition roof (roof updated 2024); Combination foundation
• Exterior features: Exterior storage; Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: One living area; No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (4.5% below list).
• Recommended offer: $113k (4.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Heronville Es (math 2% / reading 8%, grade F, #766 of 845 statewide, top 94%, 559 students, 0% FRL); Capitol Hill Hs (math 2% / reading 4%, grade F, #444 of 447 statewide, top 99%, 1,455 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 79 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($816 loan paydown + $6k appreciation (4.9% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $112,746 (4.5% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.96% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.46%
• DSCR: 1.24
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $127,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1536 SW 28th St	0.15mi	3/2.0	1,360 (-4%)	2mo	$234,000	$172	84
1518 SW 28th St	0.10mi	3/2.0	1,315 (-7%)	15mo	$118,000	$90	70
1400 SW 27th St	0.10mi	3/2.0	1,537 (+8%)	15mo	$75,000	$49	69
1141 SW Binkley St	0.41mi	3/1.0	1,450 (+2%)	7mo	$160,000	$110	67
1437 SW 36th St	0.52mi	3/2.0	1,520 (+7%)	1mo	$107,500	$71	63
1033 SW Binkley St	0.53mi	3/1.0	1,342 (-6%)	6mo	$190,000	$142	58
1433 SW 34th St	0.40mi	3/2.0	1,270 (-11%)	8mo	$85,000	$67	57
2221 SW 24th St	0.58mi	3/2.0	1,275 (-10%)	2mo	$215,000	$169	54
3225 S Douglas Ave	0.50mi	3/2.0	1,260 (-11%)	6mo	$175,000	$139	53
1129 SW 35th St	0.61mi	2/1.0 (-1)	1,322 (-7%)	1mo	$85,000	$64	51
1413 Reding Dr	0.71mi	3/1.0	1,329 (-6%)	10mo	$106,900	$80	44
1633 SW Binkley St	0.34mi	2/1.5 (-1)	1,230 (-13%)	22mo	$70,000	$57	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 2.10×
• Total profit: $36,320
• Equity at exit: $66,420

10-year hold

• IRR: 17.6%
• Equity multiple: 4.08×
• Total profit: $101,688
• Equity at exit: $114,262

Cash invested: $33,040 (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 73108

• Home prices YoY: 1.7%
• Active inventory: 79
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,127 high
• Mortgage (P&I): −$619
• Tax from tax record: −$72 /mo · $869/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $150

Break-even live

Break-even rent $937

Max offer price $118,000

Occupancy floor 82%

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1345 SW 27th St Oklahoma City, OK	3.0	2.0	1153	$1,095	$0.95	2d	1	0.15mi
2140 SW 35th St Oklahoma City, OK	3.0	2.0	976	$1,300	$1.33	43d	1	0.62mi
1132 SW 40th St Oklahoma City, OK	3.0	2.0	1436	$1,350	$0.94	23d	1	0.92mi
900 Hangar Dr Oklahoma City, OK	2.0	1.0–2.0	743	$2,075	$2.79	1d	37	0.95mi
4330 S Barnes Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	860	$1,099	$1.28	4d	9	1.03mi
1416 S Daugherty Ave Oklahoma City, OK	3.0	1.0	1164	$1,120	$0.96	11d	1	1.11mi
3407 S Lee Ave Oklahoma City, OK	2.0	1.0	900	$980	$1.09	43d	1	1.14mi
1632 Birch St Oklahoma City, OK	2.0	1.0	935	$775	$0.83	2d	1	1.16mi
2640 SW 38th St Oklahoma City, OK	3.0	2.0	944	$1,050	$1.11	2d	1	1.18mi
1802 Exchange Ave Oklahoma City, OK	2.0	1.0	1312	$875	$0.67	43d	1	1.20mi
1802 Exchange Ave Unit 1802 Oklahoma City, OK	2.0	1.0	1312	$875	$0.67	3d	1	1.20mi
1616 Linden St Oklahoma City, OK	3.0	1.5	1175	$975	$0.83	23d	1	1.24mi
2612 SW 41st St Oklahoma City, OK	3.0	1.0	1164	$1,200	$1.03	23d	1	1.25mi
2921 SW 28th St Oklahoma City, OK	3.0	1.0	1125	$1,490	$1.32	43d	1	1.33mi
4426 S Olie Ave Oklahoma City, OK	2.0	2.0	1159	$1,220	$1.05	11d	1	1.37mi
632 SW 44th St Oklahoma City, OK	2.0	1.0	958	$1,000	$1.04	4d	1	1.47mi
624 SW 44th St Oklahoma City, OK	2.0	1.0	1206	$1,500	$1.24	43d	1	1.48mi
2922 SW 19th St Oklahoma City, OK	3.0	1.0	1056	$1,350	$1.28	2d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $118,000 Active 33 DOM
2. 2026-06-17
   days on market $118,000 Active 32 DOM
3. 2026-06-16
   days on market $118,000 Active 31 DOM
4. 2026-06-15
   days on market $118,000 Active 30 DOM
5. 2026-06-13
   days on market $118,000 Active 28 DOM
6. 2026-06-09
   days on market $118,000 Active 24 DOM
7. 2026-06-08
   days on market $118,000 Active 23 DOM
8. 2026-06-07
   days on market $118,000 Active 22 DOM
9. 2026-06-05
   days on market $118,000 Active 19 DOM
10. 2026-06-03
    days on market $118,000 Active 18 DOM
11. 2026-06-02
    days on market $118,000 Active 17 DOM
12. 2026-06-01
    days on market $118,000 Active 16 DOM
13. 2026-05-31
    days on market $118,000 Active 15 DOM
14. 2026-05-16
    listed $124,999 Active
15. 2026-03-05
    soldstatus $90,000
16. 2011-07-15
    soldstatus $15,550 199-char remark

    Show marketing remark (199 chars)

    Freddiemac/homesteps property. Selling in as is condition.......First iniative time period ends 6/18/2011......2yr HOW to owner occupant. Buyer to be responsible for a gas test and city inspection.

17. 2011-06-03
    listed $15,000 199-char remark

    Show marketing remark (199 chars)

    Freddiemac/homesteps property. Selling in as is condition.......First iniative time period ends 6/18/2011......2yr HOW to owner occupant. Buyer to be responsible for a gas test and city inspection.

ⓘ 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: $869 · $72/mo
• Projected year-2 tax: $1,062 · $88/mo
• Expected delta: +$193/yr (+$16/mo · 22.2%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,530
• − Mortgage interest: −$6,610
• − Property taxes: −$869
• − Insurance: −$590
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − Depreciation: −$3,433
• Taxable loss: −$136
• Est. tax savings @ 24.0%: +$33
• After-tax cash flow: $1,837/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: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• City population: 498,656
• Population (ZIP): 15,239

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (65%)
• Race & ethnicity: Hispanic / Latino 65% Two or more races 28% White 20% Black 8% Native American 7%
• Hispanic origin (detail): Mexican 59% Puerto Rican 1%
• Common ancestry: Italian 1%
• Foreign-born: 27% · Canada
• Languages at home: 46% English-only · Spanish 52%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.94%
• Current HPI: 293.2571
• Rent YoY: —
• Metro: —
• 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

+733.3% since first listed

4 events — show timeline

• 2026-05-16 Listed $124,999 MLSOK
• 2026-03-05 Sold (Public Records) $90,000 Public Records
• 2011-07-15 Sold (MLS) $15,550 MLSOK
• 2011-06-03 Listed $15,000 MLSOK

Property tax history

+2.9%/yr

Latest (2025): $869 · +4.4% YoY. Source: county tax records.