KINGSTON Plan

Tulsa, OK 74008

$364,900F

4 bd · 2.0 ba · 2,107 sqft · Built — · SingleFamily · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,349/mo
• Mortgage (P&I): −$2,157
• Tax + insurance: −$686
• HOA: −$0
• Vac / Maint / Mgmt: −$493
• Net cashflow: $-987/mo
• Annual: $-11,847/yr
• Cap rate: 3.41%
• Cash-on-cash: -10.28%
• DSCR: 0.54
• 1% rule: 0.57%
• Cash to close: $115,188

Investor read

• This is a 4-bed/2.0-bath single-family listed at $365k. Condition is rated good.
• At list price, monthly cash flow is $-987 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (26.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (35.6% below list).
• It's been on market 48 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $235k (35.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• 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: crime F, employment D-.
• Bixby (suburban): math 39% / reading 36% proficiency, ranked #15 of 270 in OK (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Bixby North Es (math 72% / reading 57%, grade B, #3 of 845 statewide, top 0%, 716 students, 0% FRL); Bixby Ms (math 37% / reading 30%, grade F, #33 of 345 statewide, top 10%, 1,216 students, 0% FRL); Bixby Hs (math 42% / reading 48%, grade D-, #13 of 447 statewide, top 3%, 2,102 students, 0% FRL) — zoned schools average 0% FRL vs 19% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+3.3%/yr); 1205 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.