2708 SE 51st St · Oklahoma City, OK 73129

$139,999

3 bd · 1.0 ba · 1,198 sqft · SingleFamily public records · 20 Days on market

Built 1970 7,937 sqft lot Est $141k · at est.

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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 +19.3/30.0
• ARV discount +7.9/15.0
• DSCR +6.1/10.0
• Appreciation +5.9/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

Well-maintained and updated 4-bedroom, 1-bath home offering 1,277 sqft, with a flexible layout that can also function as a 3-bedroom with 2 living areas. Recent updates include new exterior paint, flooring, interior paint, lighting, and appliances. Roof replaced approximately 3 years ago. The property features a fully fenced yard with a large side gate, providing convenient access for a small work trailer, lawn equipment, or additional backyard entry. Located within walking distance to Metro Tech South Bryant Campus, this home offers both functionality and accessibility.

Key facts

• Large side gate
• New exterior paint
• Flexible layout

Tags

• FLEXIBLE LAYOUT
• NEW EXTERIOR PAINT
• FULLY FENCED YARD
• LARGE SIDE GATE
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Living area reported as 1,277 (per appraiser); Located in Lumbermans # 3 Addition; No storm shelter; Not historically designated; Occupied: No; Listing status: Active
• Financial info: Listing accepts cash, conventional, FHA/VA, and VA financing; Loan qualifying allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking; 1-car garage
• Security: No security details provided
• Utilities: No utility details provided
• Home design: Single family residence; Residential property; One-level property; Property faces north
• Construction: Brick and frame construction; Composition roof (replaced/installed 2023); Slab foundation; Existing property
• Exterior features: Chain link fencing; Interior lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Four bedrooms
• Flooring: No flooring details provided
• Bathrooms: One full bathroom
• Heating & cooling: No heating or cooling details provided
• Interior features: Living area with one living area; One dining area; No study; No in-law plan
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $153 ($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 $130k (7.0% below list).
• Recommended offer: $130k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.7% in Oklahoma City — 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 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: Bodine Es (math 2% / reading 2%, grade F, #802 of 845 statewide, top 100%, 638 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: 83 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 33% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $3k of equity ($968 loan paydown + $2k appreciation (1.8% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (1.8% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $20k; list at $140k implies a 600% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $130,133 (7.0% below list)

Questions for the listing agent

1. Built in 1970 — 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: 0.93% ✗
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $141,364
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2708 SE 51st St	0.00mi	4/1.0 (+1)	1,277 (+7%)	1mo	$138,500	$108	83
3017 SE 56th St	0.52mi	3/2.0	1,137 (-5%)	4mo	$175,000	$154	60
3217 SE 56th St	0.61mi	3/1.5	1,134 (-5%)	2mo	$110,000	$97	59
3209 SE 57th St	0.63mi	3/2.0	1,210 (+1%)	8mo	$130,000	$107	58
5113 Creekwood Ter	0.43mi	3/1.5	1,039 (-13%)	1mo	$72,000	$69	55
3117 SE 55th St	0.53mi	3/2.0	1,295 (+8%)	6mo	$160,000	$124	53
3405 SE 55th St	0.71mi	3/1.5	1,150 (-4%)	7mo	$158,000	$137	52
5300 Creekwood Ter	0.48mi	4/1.5 (+1)	1,284 (+7%)	8mo	$139,500	$109	52
3113 SE 54th St	0.49mi	4/1.5 (+1)	1,334 (+11%)	6mo	$164,000	$123	46
5104 Gaines St	0.61mi	3/1.5	1,052 (-12%)	4mo	$172,500	$164	46
5004 S Briarwood Dr	0.54mi	4/1.5 (+1)	1,352 (+13%)	2mo	$160,000	$118	45
5413 Evanbrook Ter	0.73mi	3/2.0	1,336 (+12%)	8mo	$146,600	$110	36

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

Projected returns pro-forma

1.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.45×
• Total profit: $17,539
• Equity at exit: $53,313

10-year hold

• IRR: 11.8%
• Equity multiple: 2.55×
• Total profit: $60,584
• Equity at exit: $75,333

Cash invested: $39,200 (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 73129

• Home prices YoY: 0.7%
• Active inventory: 83
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$734
• Tax from tax record: −$82 /mo · $986/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $153

Break-even live

Break-even rent $1,107

Max offer price $139,999

Occupancy floor 83%

Sensitivity live

Price	-10% $233	-5% $193	+0% $153	+5% $114	+10% $74
Rent	-10% $51	-5% $102	+0% $153	+5% $205	+10% $256
Rate	-1.0pp $224	-0.5pp $189	base $153	+0.5pp $117	+1.0pp $80

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2621 SE 50th St Oklahoma City, OK	3.0	1.5	1022	$1,150	$1.13	2d	1	0.09mi
2532 SE 47th St Oklahoma City, OK	4.0	1.0	1215	$1,550	$1.28	2d	1	0.27mi
2908 SE 47th St Oklahoma City, OK	3.0	1.0	1100	$1,350	$1.23	3d	1	0.30mi
3005 SE 51st St Oklahoma City, OK	2.0	1.0	842	$995	$1.18	44d	1	0.31mi
4909 Cinderella Dr Oklahoma City, OK	3.0	2.0	1113	$1,150	$1.03	3d	1	0.34mi
4912 S Fairmont Ave Oklahoma City, OK	3.0	2.0	1330	$1,450	$1.09	3d	1	0.35mi
4816 S Fairmont Ave Oklahoma City, OK	3.0	2.0	1091	$1,275	$1.17	24d	1	0.38mi
5216 Foster Dr Oklahoma City, OK	3.0	1.5	894	$995	$1.11	44d	1	0.40mi
5012 Creekwood Ter Oklahoma City, OK	3.0	1.5	1250	$1,395	$1.12	44d	1	0.41mi
5024 Brookdale St Oklahoma City, OK	3.0	1.5	1039	$1,550	$1.49	22d	1	0.47mi
5305 Brookdale St Oklahoma City, OK	3.0	2.0	1205	$1,195	$0.99	12d	1	0.49mi
3205 SE 55th St Oklahoma City, OK	3.0	1.5	1119	$1,300	$1.16	44d	1	0.54mi
5316 S Briarwood Dr Oklahoma City, OK	3.0	2.0	980	$1,149	$1.17	24d	1	0.57mi
3409 Parker Dr Oklahoma City, OK	3.0	1.0	918	$1,250	$1.36	4d	1	0.71mi
3424 Parker Dr Oklahoma City, OK	3.0	1.0	1125	$450	$0.40	44d	1	0.71mi
5609 Evanbrook Ter Oklahoma City, OK	3.0	2.0	1175	$1,395	$1.19	2d	1	0.73mi
5609 Evanbrook Ter Oklahoma City, OK	3.0	2.0	1175	$1,395	$1.19	24d	1	0.73mi
3305 Neighbors Ln Oklahoma City, OK	3.0	1.0	945	$1,250	$1.32	3d	1	0.78mi
3224 Lazy Ln Oklahoma City, OK	3.0	2.0	1440	$1,300	$0.90	24d	1	0.80mi
3741 SE 48th Pl Oklahoma City, OK	3.0	2.0	1370	$1,225	$0.89	3d	1	0.90mi
3451 SE 44th St Oklahoma City, OK	1.0–3.0	1.0–2.0	974	$950	$0.98	12d	4	0.91mi
3451 SE 44th St Unit 269 Del City, OK	2.0	1.0	924	$850	$0.92	3d	1	0.91mi
4700 Clendon Way Oklahoma City, OK	3.0	2.0	1434	$1,450	$1.01	15d	1	0.94mi
3925 SE 59th St Oklahoma City, OK	2.0	1.5	993	$1,211	$1.22	22d	1	0.99mi
4305 S Nebraska Ave Oklahoma City, OK	3.0	2.0	1145	$1,200	$1.05	44d	1	1.04mi
3916 SE 46th St Oklahoma City, OK	3.0	1.5	1220	$1,295	$1.06	24d	1	1.06mi
4917 S Karen St Oklahoma City, OK	3.0	1.5	960	$1,100	$1.15	24d	1	1.10mi
4008 SE 47th St Oklahoma City, OK	3.0	1.5	1082	$1,145	$1.06	3d	1	1.11mi
4101 SE 48th St Oklahoma City, OK	3.0	1.0	974	$1,245	$1.28	16d	1	1.12mi
4016 SE 47th St Oklahoma City, OK	3.0	1.5	1245	$1,199	$0.96	5d	1	1.13mi
4004 SE 45th Ter Oklahoma City, OK	3.0	1.0	1006	$995	$0.99	24d	1	1.13mi
1528 SE 47th Pl Oklahoma City, OK	3.0	1.0	1092	$1,300	$1.19	4d	1	1.15mi
1528 SE 49th Ter Oklahoma City, OK	3.0	1.0	912	$1,100	$1.21	24d	1	1.16mi
4900 S Dimple Dr Oklahoma City, OK	3.0	1.5	1463	$1,025	$0.70	3d	1	1.18mi
4104 SE 45th Ter Oklahoma City, OK	4.0	1.5	1111	$1,275	$1.15	2d	1	1.19mi
4215 SE 53rd St Oklahoma City, OK	1.0–2.0	1.0	769	$915	$1.19	24d	1	1.22mi
1501 SE 52nd St Oklahoma City, OK	3.0	2.0	1012	$1,200	$1.19	24d	1	1.23mi
5537 S Sunnylane Rd Oklahoma City, OK	1.0–2.0	1.0–1.5	840	$850	$1.01	3d	11	1.24mi
4220 SE 49th St Oklahoma City, OK	3.0	2.0	1223	$1,175	$0.96	24d	1	1.25mi
4217 SE 48th Ter Oklahoma City, OK	3.0	1.5	1043	$1,295	$1.24	24d	1	1.27mi

Listing history 4 events

1. 2026-04-21
   status Pending
2. 2026-04-17
   price $139,999
3. 2026-04-01
   listed $150,000 Active
4. 2001-12-11
   soldstatus $20,000

ⓘ 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: $986 · $82/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$274/yr (+$23/mo · 27.8%)

ⓘ 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: $15,616
• − Mortgage interest: −$7,842
• − Property taxes: −$986
• − Insurance: −$700
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$4,073
• Taxable loss: −$483
• Est. tax savings @ 24.0%: +$116
• After-tax cash flow: $1,957/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
• County: Oklahoma County · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 20,014
• Household income: $46,670
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 611.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 26% White 26% Black 9% Native American 7% Asian 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 24% · Canada, Dominican Republic
• Languages at home: 54% English-only · Spanish 44% Other Asian/Pacific 1% Vietnamese 1%

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: ▲ 1.75%
• Current HPI: 250.8581
• Rent YoY: —
• Metro: Oklahoma City, 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

+600.0% since first listed

4 events — show timeline

• 2026-04-21 Pending — MLSOK
• 2026-04-17 Price Changed $139,999 MLSOK
• 2026-04-01 Listed $150,000 MLSOK
• 2001-12-11 Sold (Public Records) $20,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $986 · +4.4% YoY. Source: county tax records.