1386 E 51st Pl N · Tulsa, OK 74126

$121,500

4 bd · 1.0 ba · 864 sqft · SingleFamily public records · 26 Days on market

Built 1955 7,200 sqft lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.3/10.0
• Schools +0.8/10.0

Listing remarks MLS

Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

Key facts

• Hvac
• Flooring
• Electrical

Tags

• HVAC
• ELECTRICAL
• FLOORING
• COSMETIC IMPROVEMENTS
• NEW WINDOWS

Property features AI

Exterior

• Security: No safety shelter
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available
• Home design: Single-story; Faces north; Crawlspace foundation
• Construction: Wood frame construction; Asphalt/fiberglass roof
• Exterior features: Porch; Chain link fencing; Mature trees on lot

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning; Gas water heater
• Interior features: Attic; Ceiling fan(s); Laminate counters; Electric oven and range connections

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $120k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 70 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 39% of the median local income ($42k/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 $840 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.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y 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 $88k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,677 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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: 1.14% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.42%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $68,256
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1334 E 51 Pl	0.13mi	3/1.0 (-1)	836 (-3%)	6mo	$42,000	$50	79
1551 E 51st St	0.16mi	3/1.0 (-1)	816 (-6%)	4mo	$55,000	$67	75
1539 E 53rd St	0.18mi	3/1.0 (-1)	917 (+6%)	2mo	$81,000	$88	74
5234 N Kenosha Ave	0.57mi	3/1.0 (-1)	888 (+3%)	3mo	$72,500	$82	62
1542 E 51st St	0.15mi	3/1.0 (-1)	792 (-8%)	16mo	$50,000	$63	60
4633 N Troost Ave	0.53mi	3/1.0 (-1)	912 (+6%)	2mo	$48,000	$53	60
1582 E 51st Pl N	0.23mi	3/1.0 (-1)	816 (-6%)	22mo	$50,000	$61	57
870 E 53rd St N	0.39mi	3/1.0 (-1)	912 (+6%)	15mo	$95,000	$104	55
1045 E 51st Pl N	0.31mi	3/1.5 (-1)	984 (+14%)	6mo	$79,500	$81	50
4623 N Troost Ave	0.55mi	3/1.0 (-1)	912 (+6%)	16mo	$97,000	$106	47
5208 N Kenosha Ave	0.58mi	3/1.0 (-1)	888 (+3%)	23mo	$70,000	$79	44
5457 N Iroquois Ave	0.68mi	3/1.0 (-1)	962 (+11%)	17mo	$65,000	$68	31

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-880
• Equity at exit: $18,116

10-year hold

• IRR: 9.0%
• Equity multiple: 1.69×
• Total profit: $23,446
• Equity at exit: $10,505

Cash invested: $34,020 (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 74126

• Home prices YoY: -2.9%
• Active inventory: 70
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$637
• Tax from tax record: −$114 /mo · $1,362/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $295

Break-even live

Break-even rent $1,014

Max offer price $121,500

Occupancy floor 74%

Sensitivity live

Price	-10% $364	-5% $330	+0% $295	+5% $261	+10% $227
Rent	-10% $186	-5% $241	+0% $295	+5% $350	+10% $405
Rate	-1.0pp $357	-0.5pp $326	base $295	+0.5pp $264	+1.0pp $232

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: $30,375
• Closing costs: $3,645
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1530 E 52nd St N Tulsa, OK	3.0	2.0	1042	$1,500	$1.44	2d	1	0.13mi
1553 E 53rd St N Tulsa, OK	3.0	1.0	1100	$1,250	$1.14	2d	1	0.21mi
5135 N Utica Ave Tulsa, OK	3.0	1.0	840	$995	$1.18	24d	1	0.28mi
2014 E 49th St N Tulsa, OK	3.0	1.0	970	$1,100	$1.13	24d	1	0.55mi
5510 N Johnstown Ave Tulsa, OK	3.0	1.0	972	$995	$1.02	2d	1	0.64mi
4908 N Hartford Ave Tulsa, OK	3.0	1.0	900	$900	$1.00	2d	1	0.78mi
5519 N Garrison Pl Tulsa, OK	3.0	1.0	1076	$1,200	$1.12	22d	1	0.81mi
5618 N Garrison Pl Tulsa, OK	3.0	1.0	904	$1,100	$1.22	22d	1	0.88mi
5731 N Garrison Pl Tulsa, OK	3.0	1.0	912	$925	$1.01	2d	1	0.93mi

Listing history 45 events

1. 2026-06-18
   days on market $121,500 Active 26 DOM
2. 2026-06-17
   days on market $121,500 Active 25 DOM
3. 2026-06-16
   days on market $121,500 Active 24 DOM
4. 2026-06-15
   days on market $121,500 Active 23 DOM
5. 2026-06-13
   days on market $121,500 Active 21 DOM
6. 2026-06-10
   days on market $121,500 Active 18 DOM
7. 2026-06-09
   days on market $121,500 Active 17 DOM
8. 2026-06-08
   days on market $121,500 Active 16 DOM
9. 2026-06-07
   days on market $121,500 Active 15 DOM
10. 2026-06-05
    days on market $121,500 Active 12 DOM
11. 2026-06-03
    days on market $121,500 Active 11 DOM
12. 2026-06-02
    days on market $121,500 Active 10 DOM
13. 2026-06-01
    days on market $121,500 Active 9 DOM
14. 2026-05-31
    days on market $121,500 Active 8 DOM
15. 2026-05-20
    listed $121,500 Active
16. 2023-10-16
    soldstatus $88,000 Closed 121-char remark

    Show marketing remark (121 chars)

    Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

17. 2023-10-13
    soldstatus $88,000
18. 2023-08-24
    status Pending 121-char remark

    Show marketing remark (121 chars)

    Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

19. 2023-07-24
    price $95,990 121-char remark

    Show marketing remark (121 chars)

    Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

20. 2023-07-23
    price $97,990 121-char remark

    Show marketing remark (121 chars)

    Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

21. 2023-07-04
    price $99,890 121-char remark

    Show marketing remark (121 chars)

    Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

22. 2023-07-03
    listed $84,999 Active 121-char remark

    Show marketing remark (121 chars)

    Make this home your own or investor add to your portfolio. More photos coming. Call for showing . DO NOT DISTURB TENANTS!

23. 2021-06-10
    soldstatus $1,450,000
24. 2021-05-28
    soldstatus $45,312 Closed 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

25. 2021-04-23
    status Pending 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

26. 2021-03-29
    status Active 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

27. 2021-03-03
    status Pending 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

28. 2021-01-26
    status Active 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

29. 2021-01-08
    status Pending 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

30. 2020-12-31
    historical 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

31. 2020-10-01
    historical
32. 2020-09-30
    listed $54,687 Active 75-char remark

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

33. 2020-09-30
    listed $54,687 Active

    Show marketing remark (75 chars)

    DO NOT DISTURB TENANTS! Part of a 64 property package sold for 3.5 million.

34. 2016-03-03
    soldstatus $27,000 Closed
35. 2015-12-22
    status Pending
36. 2015-07-15
    listed $27,000 Active
37. 2015-06-22
    historical
38. 2015-06-03
    listed $27,000 Active
39. 2010-06-17
    soldstatus $8,550
40. 2010-06-07
    historical
41. 2010-05-10
    listed $8,500
42. 2007-08-02
    historical
43. 2007-02-01
    listed $58,500
44. 2005-10-11
    soldstatus $63,000
45. 2004-02-02
    soldstatus $60,000

ⓘ 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: $1,362 · $114/mo
• Projected year-2 tax: $1,362 · $114/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 5/10 Major
• 🌡 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: $16,658
• − Mortgage interest: −$6,806
• − Property taxes: −$1,362
• − Insurance: −$608
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$3,535
• Taxable income: $1,683
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $3,140/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: Osage County · 26,244 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 9,920
• Household income: $42,172
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 417.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 45% White 26% Hispanic / Latino 14% Two or more races 11% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Iranian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 11% Other Asian/Pacific 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: ▼ -7.45%
• Current HPI: 253.7105
• 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

+102.5% since first listed

31 events — show timeline

• 2026-05-20 Listed $121,500 MLS Technology, Inc.
• 2023-10-16 Sold (MLS) $88,000 MLS Technology, Inc.
• 2023-10-13 Sold (Public Records) $88,000 Public Records
• 2023-08-24 Pending — MLS Technology, Inc.
• 2023-07-24 Price Changed $95,990 MLS Technology, Inc.
• 2023-07-23 Price Changed $97,990 MLS Technology, Inc.
• 2023-07-04 Price Changed $99,890 MLS Technology, Inc.
• 2023-07-03 Listed $84,999 MLS Technology, Inc.
• 2021-06-10 Sold (Public Records) $1,450,000 Public Records
• 2021-05-28 Sold (MLS) $45,312 MLS Technology, Inc.
• 2021-04-23 Pending — MLS Technology, Inc.
• 2021-03-29 Relisted — MLS Technology, Inc.
• 2021-03-03 Pending — MLS Technology, Inc.
• 2021-01-26 Relisted — MLS Technology, Inc.
• 2021-01-08 Pending — MLS Technology, Inc.
• 2020-12-31 Listing Removed — MLS Technology, Inc.
• 2020-10-01 Listing Removed — MLS Technology, Inc.
• 2020-09-30 Listed $54,687 MLS Technology, Inc.
• 2020-09-30 Listed $54,687 MLS Technology, Inc.
• 2016-03-03 Sold (MLS) $27,000 MLS Technology, Inc.
• 2015-12-22 Pending — MLS Technology, Inc.
• 2015-07-15 Listed $27,000 MLS Technology, Inc.
• 2015-06-22 Listing Removed — MLS Technology, Inc.
• 2015-06-03 Listed $27,000 MLS Technology, Inc.
• 2010-06-17 Sold (MLS) $8,550 MLS Technology, Inc.
• 2010-06-07 Listing Removed — MLS Technology, Inc.
• 2010-05-10 Listed $8,500 MLS Technology, Inc.
• 2007-08-02 Listing Removed — MLS Technology, Inc.
• 2007-02-01 Listed $58,500 MLS Technology, Inc.
• 2005-10-11 Sold (Public Records) $63,000 Public Records
• 2004-02-02 Sold (Public Records) $60,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $1,362 · +8.6% YoY. Source: county tax records.