2656 S Sheridan Rd · Tulsa, OK 74129

$125,000

3 bd · 1.0 ba · 1,389 sqft · SingleFamily public records · 10 Days on market

Built 1954 9,000 sqft lot Est $235k · 47% 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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.9/10.0
• 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

As-Is sale, fixer upper needing some love. Roof replaced 2019, Heater replaced 2025, AC replaced 2018, plumbing repaired 2018.

Key facts

• Ac replaced
• Heater replaced
• Plumbing repaired

Tags

• ROOF REPLACED
• HEATER REPLACED
• AC REPLACED
• PLUMBING REPAIRED

Property features AI

Exterior

• Parking: Attached garage (1 car) with rear-facing garage
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Phone service available; Public water; Public sewer
• Home design: Single-story home; Faces east; Crawlspace foundation
• Construction: Brick veneer and wood frame construction; Asphalt/fiberglass roof; Built according to public records
• Exterior features: Chain link fencing; Corner lot

Interior

• Kitchen: Oven; Range
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Hardwood flooring; No notable interior features reported
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 9.4% vs local median 3.9% 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: 71 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); 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $125,000

Questions for the listing agent

1. Built in 1954 — 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: 1.19% ✓
• Cap rate: 9.44%
• Cash-on-cash: 11.24%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $234,741
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6716 E 26th Ave	0.35mi	3/2.0	1,336 (-4%)	1mo	$265,000	$198	73
5369 E 28th St	0.54mi	3/2.0	1,394 (+0%)	1mo	$235,000	$169	69
5355 E 27th Pl	0.58mi	3/2.0	1,392 (+0%)	0mo	$218,000	$157	68
6716 E 27th Pl	0.31mi	3/1.5	1,264 (-9%)	2mo	$167,000	$132	67
5729 E 28th St	0.41mi	3/1.5	1,252 (-10%)	1mo	$215,000	$172	61
5378 E 30th Pl	0.58mi	3/2.0	1,450 (+4%)	2mo	$173,000	$119	60
7454 E 29th St	0.71mi	3/2.0	1,416 (+2%)	0mo	$265,000	$187	60
5428 E 24th Pl	0.61mi	3/1.5	1,310 (-6%)	2mo	$250,000	$191	59
7470 E 29th St	0.74mi	3/1.5	1,362 (-2%)	2mo	$175,000	$128	58
5328 E 27th St	0.66mi	3/2.0	1,332 (-4%)	1mo	$274,800	$206	58
5342 E 25th Pl	0.65mi	3/2.0	1,549 (+12%)	2mo	$210,000	$136	45
5406 E 25th St	0.63mi	3/2.0	1,580 (+14%)	1mo	$190,000	$120	43

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $637
• Equity at exit: $18,638

10-year hold

• IRR: 10.1%
• Equity multiple: 1.79×
• Total profit: $27,492
• Equity at exit: $10,808

Cash invested: $35,000 (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 74129

• Active inventory: 71
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,488 high
• Mortgage (P&I): −$656
• Tax from tax record: −$140 /mo · $1,679/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $328

Break-even live

Break-even rent $1,073

Max offer price $125,000

Occupancy floor 73%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5905 E 30th St Tulsa, OK	3.0	2.0	1210	$1,550	$1.28	3d	1	0.27mi
2923 S Irvington Ave Tulsa, OK	4.0	2.5	1786	$1,750	$0.98	2d	1	0.35mi
5704 E 30th Pl Tulsa, OK	3.0	1.0	1070	$1,600	$1.50	23d	1	0.55mi
3272 S Lakewood Ave Tulsa, OK	1.0–2.0	1.0–1.5	841	$1,250	$1.49	16d	12	0.58mi
5714 E 33rd Ct Tulsa, OK	2.0	2.0	1077	$1,299	$1.21	23d	1	0.69mi
3257 S Hudson Ave Unit 3257 Tulsa, OK	2.0	2.0	1350	$1,295	$0.96	3d	1	0.79mi
5824 E 35th St Tulsa, OK	2.0	1.0	1000	$1,295	$1.29	16d	1	0.82mi
6621 E 19th St Tulsa, OK	1.0–2.0	1.0–2.0	800	$1,050	$1.31	16d	4	0.86mi
7610 E 21st Pl Tulsa, OK	3.0	1.5	1136	$1,695	$1.49	3d	1	0.91mi
5301 E 32nd Pl Unit B Tulsa, OK	2.0	1.5	1005	$1,250	$1.24	3d	1	0.91mi
7625 E 21st St Tulsa, OK	1.0–3.0	1.0–1.5	775	$1,075	$1.39	16d	6	1.02mi
8323 E 24th St Tulsa, OK	3.0	2.0	1300	$1,350	$1.04	2d	1	1.20mi
2425 S Sandusky Ave Tulsa, OK	3.0	2.0	1017	$1,495	$1.47	11d	1	1.28mi
2425 S Sandusky Ave Tulsa, OK	3.0	2.0	1017	$1,495	$1.47	21d	1	1.28mi
3519 S Sandusky Ave Tulsa, OK	3.0	2.0	1547	$1,750	$1.13	23d	1	1.46mi
3519 S Sandusky Ave Tulsa, OK	3.0	2.0	1547	$1,750	$1.13	11d	1	1.46mi
2535 S Pittsburg Ave Tulsa, OK	3.0	2.0	1213	$1,803	$1.49	2d	1	1.47mi
4130 E 22nd Pl Tulsa, OK	2.0	2.0	1255	$1,550	$1.24	3d	1	1.48mi

Listing history 17 events

1. 2026-06-02
   status $125,000 Pending 10 DOM
2. 2026-06-01
   days on market $125,000 Active 10 DOM
3. 2026-05-31
   days on market $125,000 Active 9 DOM
4. 2026-05-22
   listed $125,000 Active
5. 2017-12-18
   soldstatus $205,000
6. 2008-09-19
   historical
7. 2008-03-20
   historical
8. 2008-03-18
   listed $99,900
9. 2007-09-19
   listed $106,034
10. 2007-09-11
    historical
11. 2007-03-15
    listed $106,000
12. 2005-12-19
    soldstatus $71,000
13. 2005-12-15
    soldstatus $71,000
14. 2005-11-01
    historical
15. 2005-09-02
    historical
16. 2005-09-02
    listed $79,900
17. 2005-06-27
    listed $89,000

ⓘ 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: $1,679 · $140/mo
• Projected year-2 tax: $1,679 · $140/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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,853
• − Mortgage interest: −$7,002
• − Property taxes: −$1,679
• − Insurance: −$625
• − Repairs & maintenance: −$1,428
• − Management: −$1,428
• − Depreciation: −$3,636
• Taxable income: $2,055
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $3,441/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
• City population: 389,418
• Population (ZIP): 18,764

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 38% Hispanic / Latino 34% Two or more races 18% Black 17% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 30% Other Asian/Pacific 1% Vietnamese 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: ▼ -169.31%
• Current HPI: 247.8904
• 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

+40.4% since first listed

14 events — show timeline

• 2026-05-22 Listed $125,000 MLS Technology, Inc.
• 2017-12-18 Sold (Public Records) $205,000 Public Records
• 2008-09-19 Listing Removed — MLS Technology, Inc.
• 2008-03-20 Listing Removed — MLS Technology, Inc.
• 2008-03-18 Listed $99,900 MLS Technology, Inc.
• 2007-09-19 Listed $106,034 MLS Technology, Inc.
• 2007-09-11 Listing Removed — MLS Technology, Inc.
• 2007-03-15 Listed $106,000 MLS Technology, Inc.
• 2005-12-19 Sold (Public Records) $71,000 Public Records
• 2005-12-15 Sold (MLS) $71,000 MLS Technology, Inc.
• 2005-11-01 Listing Removed — MLS Technology, Inc.
• 2005-09-02 Listed $79,900 MLS Technology, Inc.
• 2005-09-02 Listing Removed — MLS Technology, Inc.
• 2005-06-27 Listed $89,000 MLS Technology, Inc.

Property tax history

+2.7%/yr

Latest (2025): $1,679 · +8.7% YoY. Source: county tax records.