231 S 118th EastAvenue · Tulsa, OK 74128

$99,900

3 bd · 2.0 ba · 1,666 sqft · SingleFamily public records · 6 Days on market

Built 1964 7,800 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• 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

Investor special with endless potential! This 3-bedroom, 2-bath home has been gutted down to the walls and is ready for your vision and creativity. The hard part is already done, the bones and structure are in excellent shape, giving you a solid foundation to transform it into something truly special. Whether you're looking for your next flip, rental property, or custom remodel project, the possibilities are endless and the sky is the limit. Cash ONLY offers.

Key facts

• 7,800 sq ft lot
• Garage
• Built 1964

Property features AI

Finance

• HOA & community: Gutters noted as a community feature

Exterior

• Parking: Attached garage (1 car)
• Security: No safety shelter
• Utilities: Cable available; Electricity available; Public water; Public sewer
• Home design: Single-story home; Faces northwest; Basement present
• Construction: Brick and wood frame construction; Asphalt/fiberglass roof; Basement foundation; Built per public records
• Exterior features: Concrete driveway; Rain gutters; Covered, enclosed patio/porch; Porch; Shed(s); Chain link fencing

Interior

• Kitchen: Eat-in kitchen with pantry; Electric range connection
• Bedrooms: Multiple first-floor bedrooms including a master bedroom with private bath and additional bedrooms without direct bath access
• Flooring: Concrete
• Bathrooms: Two full bathrooms; Master bathroom (full); Hall bathroom (full)
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: High ceilings; Ceiling fan(s); Electric range connection; Aluminum window frames; Concrete flooring; Gas water heater
• Laundry & utility: Inside utility room; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/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 11.7% 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: 38 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 34% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

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 $99,900

Questions for the listing agent

1. Built in 1964 — 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: 1.46% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.20%
• DSCR: 1.85
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $228,242
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
296 S 118th EastAvenue	0.15mi	3/2.0	1,589 (-5%)	2mo	$195,000	$123	83
11465 E 4th Pl	0.18mi	4/2.0 (+1)	1,740 (+4%)	1mo	$205,000	$118	79
530 S 120th Ave	0.24mi	4/2.0 (+1)	1,661 (-0%)	16mo	$175,000	$105	70
11919 E 2nd St	0.11mi	4/2.0 (+1)	1,568 (-6%)	14mo	$178,800	$114	69
236 S 120th East Ave	0.15mi	3/1.5	1,484 (-11%)	9mo	$205,000	$138	66
11327 E 3rd St	0.27mi	4/2.0 (+1)	1,522 (-9%)	9mo	$210,000	$138	61
11316 E 4th Pl	0.34mi	3/2.0	1,492 (-10%)	10mo	$229,000	$153	58
10953 E 3rd St	0.44mi	3/2.0	1,542 (-7%)	12mo	$163,000	$106	58
11333 E 6th St	0.36mi	3/1.5	1,463 (-12%)	6mo	$199,900	$137	56
10925 E 4th St	0.51mi	3/2.0	1,538 (-8%)	11mo	$210,000	$137	54
10931 E 4th Pl	0.51mi	4/2.0 (+1)	1,830 (+10%)	3mo	$240,000	$131	52
10809 E Admiral Blvd	0.62mi	3/3.0	1,587 (-5%)	13mo	$235,000	$148	48

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: 11.1%
• Equity multiple: 1.44×
• Total profit: $12,346
• Equity at exit: $14,895

10-year hold

• IRR: 20.2%
• Equity multiple: 2.70×
• Total profit: $47,579
• 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 74128

• Home prices YoY: -21.6%
• Active inventory: 38
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,459 high
• Mortgage (P&I): −$524
• Tax from tax record: −$139 /mo · $1,671/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $448

Break-even live

Break-even rent $892

Max offer price $99,900

Occupancy floor 64%

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11809 E 7th Pl Tulsa, OK	3.0	2.0	1383	$1,500	$1.08	23d	1	0.30mi
11412 E 5th St Tulsa, OK	3.0	1.5	1126	$1,395	$1.24	23d	1	0.30mi
11107 E Brady St Tulsa, OK	3.0	2.0	1281	$1,299	$1.01	23d	1	0.67mi
11107 E Brady St Unit 253 Tulsa, OK	3.0	2.0	1281	$1,419	$1.11	23d	1	0.71mi
1129 S 124th East Ave Tulsa, OK	2.0	1.0	1100	$1,100	$1.00	16d	1	0.80mi
12804 E 13th St Tulsa, OK	3.0	1.5	1268	$1,550	$1.22	23d	1	1.14mi
444 S Mingo Rd Tulsa, OK	3.0	1.0	800	$1,200	$1.50	16d	5	1.38mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $99,900 Pending 6 DOM
2. 2026-06-10
   days on market $99,900 Active 5 DOM
3. 2026-06-09
   days on market $99,900 Active 4 DOM
4. 2026-06-08
   days on market $99,900 Active 3 DOM
5. 2026-06-07
   remarks 463-char remark
6. 2026-06-07
   listed $99,900 Active 2 DOM

ⓘ 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: $1,671 · $139/mo
• Projected year-2 tax: $1,671 · $139/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 4/10 Moderate
• 🌡 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: $17,503
• − Mortgage interest: −$5,596
• − Property taxes: −$1,671
• − Insurance: −$500
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − Depreciation: −$2,906
• Taxable income: $4,030
• Est. tax owed @ 24.0%: −$967
• After-tax cash flow: $4,403/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

1 event — show timeline

• 2026-06-05 Listed $99,900 MLS Technology, Inc.

Property tax history

+3.6%/yr

Latest (2025): $1,671 · +8.6% YoY. Source: county tax records.