204 E Marshall Ct · Tulsa, OK 74106

$150,000

3 bd · 1.0 ba · 1,246 sqft · SingleFamily public records · 2 Days on market

Built 1977 10,307 sqft lot Est $203k · 26% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Listing remarks MLS

Immaculate and ready to move in. New last 2 years: EOHD, HWT, furnace, ceramic tile, dw, disposal, range, berber carpet, int. paint, security. Full brick on cul-de-sac lot.

Key facts

• 0.24 acre lot
• 2 garage spots
• Built 1977

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces east; Slab foundation
• Construction: Brick and wood frame construction; Asphalt/fiberglass roof; Built per public records
• Exterior features: Patio; Concrete driveway; Located on a cul-de-sac

Interior

• Kitchen: Oven; Range; Stove; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Ceiling fan(s); Laminate counters; Programmable thermostat; Aluminum window frames; Ventilation (improved indoor air quality); Gas oven connection
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.2% 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: 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: Rents rising (+3.5%/yr); 137 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• At $1,979/mo this rent would consume 58% of the median local household income ($41k/yr) (locally 1055% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 + 3.5% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 28y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; list at $150k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $150,000

Questions for the listing agent

1. Built in 1977 — 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: 1.32% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $203,098
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
529 E Latimer Ct	0.31mi	3/2.0	1,254 (+1%)	6mo	$222,500	$177	75
1407 N Boston Ave	0.26mi	2/1.0 (-1)	1,260 (+1%)	8mo	$95,000	$75	74
1315 N Cheyenne Ave	0.28mi	3/1.0	1,092 (-12%)	2mo	$139,000	$127	65
923 N Denver Ave	0.45mi	3/1.0	1,344 (+8%)	2mo	$96,500	$72	65
1635 N Boston Ave	0.56mi	3/1.0	1,210 (-3%)	12mo	$128,000	$106	59
112 E Newton St	0.13mi	2/2.0 (-1)	1,064 (-15%)	2mo	$143,500	$135	58
1104 N Boston Ave E	0.27mi	3/2.0	1,402 (+12%)	6mo	$305,000	$218	57
1101 N Main St	0.29mi	3/2.0	1,402 (+12%)	8mo	$303,000	$216	55
1334 N Nogales Ave	0.58mi	2/1.0 (-1)	1,304 (+5%)	7mo	$159,900	$123	55
1107 N Main St	0.28mi	3/2.0	1,402 (+12%)	10mo	$291,746	$208	54
555 E Queen St	0.58mi	3/2.0	1,135 (-9%)	7mo	$185,000	$163	49
541 E Latimer St	0.38mi	3/2.0	1,403 (+13%)	12mo	$239,900	$171	47

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 · 3.54% rent growth · sell at horizon

5-year hold

• IRR: 9.4%
• Equity multiple: 1.37×
• Total profit: $15,588
• Equity at exit: $22,365

10-year hold

• IRR: 18.9%
• Equity multiple: 2.62×
• Total profit: $67,979
• Equity at exit: $12,969

Cash invested: $42,000 (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 74106

• Home prices YoY: -2.5%
• Rents YoY: 3.5%
• Active inventory: 137
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,979 high
• Mortgage (P&I): −$787
• Tax from tax record: −$104 /mo · $1,254/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $610

Break-even live

Break-even rent $1,207

Max offer price $150,000

Occupancy floor 64%

Sensitivity live

Price	-10% $695	-5% $652	+0% $610	+5% $567	+10% $525
Rent	-10% $453	-5% $532	+0% $610	+5% $688	+10% $766
Rate	-1.0pp $685	-0.5pp $648	base $610	+0.5pp $571	+1.0pp $531

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 E Marshall St Tulsa, OK	3.0	2.0	1452	$1,725	$1.19	24d	1	0.02mi
1036 N Madison Ave Tulsa, OK	2.0	1.0	800	$1,100	$1.38	24d	1	0.77mi
1008 E King Pl Tulsa, OK	3.0	1.0	1284	$1,295	$1.01	3d	1	0.81mi
424 N Boulder Ave Tulsa, OK	1.0–3.0	1.0–2.5	1220	$3,699	$3.03	2d	62	0.84mi
420 E Archer St Tulsa, OK	1.0–2.0	1.0–2.5	1159	$3,646	$3.15	2d	30	0.94mi
2144 N Garrison Pl Tulsa, OK	2.0	1.0	832	$1,050	$1.26	17d	1	1.02mi
505 E 2nd St S Tulsa, OK	2.0	2.0	1087	$2,180	$2.01	4d	1	1.08mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1110	$2,870	$2.58	20d	5	1.11mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1226	$2,870	$2.34	3d	4	1.11mi
415 E 2nd St S Tulsa, OK	1.0–2.0	1.0–2.0	807	$2,180	$2.70	2d	28	1.11mi
1025 N Quincy Ave Unit A Tulsa, OK	3.0	2.0	1303	$1,450	$1.11	24d	1	1.14mi
238 E Young Pl Unit B Tulsa, OK	3.0	2.0	1000	$1,700	$1.70	24d	1	1.14mi
238 E Young Pl Unit A Tulsa, OK	3.0	2.0	1020	$1,550	$1.52	17d	1	1.14mi
1005 N Quincy Ave Unit A Tulsa, OK	3.0	2.0	1303	$1,450	$1.11	4d	1	1.16mi
211 S Greenwood Ave Tulsa, OK	1.0–2.0	1.0–2.0	933	$2,344	$2.51	3d	3	1.18mi
401 S Elgin Ave Tulsa, OK	1.0–2.0	1.0–2.0	770	$1,499	$1.95	24d	3	1.32mi
9 E 4th St Tulsa, OK	3.0	1.0–2.0	894	$2,499	$2.80	2d	5	1.34mi
324 S Main St Tulsa, OK	1.0–2.0	1.0–2.0	757	$1,807	$2.39	2d	6	1.35mi
406 S Boulder Ave Tulsa, OK	1.0–2.0	1.0–2.0	1082	$2,906	$2.69	17d	3	1.40mi
403 S Cheyenne Ave Tulsa, OK	2.0	1.0–2.0	750	$1,799	$2.40	2d	8	1.41mi
420 S Main St Tulsa, OK	2.0	1.0–2.0	1291	$2,700	$2.09	3d	13	1.42mi
6 E 5th St Unit 703 Tulsa, OK	2.0	2.0	962	$1,731	$1.80	22d	1	1.43mi
6 E 5th St Unit 105 Tulsa, OK	2.0	2.0	1361	$2,450	$1.80	22d	1	1.43mi
6 E 5th St Tulsa, OK	1.0–2.0	1.0–2.0	1103	$2,500	$2.27	17d	4	1.43mi

Listing history 20 events

1. 2026-06-18
   days on market $150,000 Active 2 DOM
2. 2026-06-16
   pricestatus $150,000 Active 1 DOM
3. 2026-06-08
   pricestatusdays on marketlisting id $160,000 Pending 1 DOM
4. 2026-06-07
   days on market $149,000 Active 208 DOM
5. 2026-06-05
   days on market $149,000 Active 205 DOM
6. 2026-06-03
   days on market $149,000 Active 204 DOM
7. 2026-06-02
   days on market $149,000 Active 203 DOM
8. 2026-06-01
   days on market $149,000 Active 202 DOM
9. 2026-05-31
   days on market $149,000 Active 201 DOM
10. 2026-01-05
    price $149,000
11. 2025-11-11
    listed $160,000 Active
12. 2001-07-16
    soldstatus $84,000 173-char remark

    Show marketing remark (173 chars)

    Immaculate and ready to move in. New last 2 years: EOHD, HWT, furnace, ceramic tile, dw, disposal, range, berber carpet, int. paint, security. Full brick on cul-de-sac lot.

13. 2001-07-02
    soldstatus $84,000
14. 2001-05-25
    historical 173-char remark

    Show marketing remark (173 chars)

    Immaculate and ready to move in. New last 2 years: EOHD, HWT, furnace, ceramic tile, dw, disposal, range, berber carpet, int. paint, security. Full brick on cul-de-sac lot.

15. 2001-05-02
    historical
16. 2001-05-01
    listed $87,000 173-char remark

    Show marketing remark (173 chars)

    Immaculate and ready to move in. New last 2 years: EOHD, HWT, furnace, ceramic tile, dw, disposal, range, berber carpet, int. paint, security. Full brick on cul-de-sac lot.

17. 2001-02-15
    listed $87,900
18. 1999-08-01
    soldstatus $72,000
19. 1999-06-19
    historical
20. 1998-12-19
    listed $75,000

ⓘ 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: $1,254 · $104/mo
• Projected year-2 tax: $1,350 · $112/mo
• Expected delta: +$96/yr (+$8/mo · 7.7%)

ⓘ 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 2/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,747
• − Mortgage interest: −$8,402
• − Property taxes: −$1,254
• − Insurance: −$750
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − Depreciation: −$4,364
• Taxable income: $5,178
• Est. tax owed @ 24.0%: −$1,243
• After-tax cash flow: $6,074/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): 15,655
• Household income: $40,776
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1055.0

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 0.65)
• Race & ethnicity: Black 55% White 17% Hispanic / Latino 14% Two or more races 13% Native American 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 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: ▼ -4.58%
• Current HPI: 179.5268
• Rent YoY: ▲ 3.54%
• 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

+98.7% since first listed

11 events — show timeline

• 2026-01-05 Price Changed $149,000 MLS Technology, Inc.
• 2025-11-11 Listed $160,000 MLS Technology, Inc.
• 2001-07-16 Sold (MLS) $84,000 MLS Technology, Inc.
• 2001-07-02 Sold (Public Records) $84,000 Public Records
• 2001-05-25 Listing Removed — MLS Technology, Inc.
• 2001-05-02 Listing Removed — MLS Technology, Inc.
• 2001-05-01 Listed $87,000 MLS Technology, Inc.
• 2001-02-15 Listed $87,900 MLS Technology, Inc.
• 1999-08-01 Sold (Public Records) $72,000 Public Records
• 1999-06-19 Listing Removed — MLS Technology, Inc.
• 1998-12-19 Listed $75,000 MLS Technology, Inc.

Property tax history

+0.2%/yr

Latest (2025): $1,254 · +8.7% YoY. Source: county tax records.