120 N Richmond Ave · Tulsa, OK 74115

$125,000

4 bd · 1.0 ba · 1,760 sqft · SingleFamily public records · 23 Days on market

Built 1938 Est $215k · 42% 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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 4/2 in up and coming neighborhood, near TU and shopping, this property has 2 sheds and an unfinished basement allowing for ample storage or business space. Updated electrical, no water leaks, no HVAC home has dedicated circuit for heating and air conditioning needs. This house is NOT fully remodeled and does need some love especially in the master suite however we do continuously upgrade the house. NOT interested in our of state investors. Please text for further information or photos.

Key facts

• Updated electrical
• Unfinished basement
• 2 sheds

Tags

• UP AND COMING NEIGHBORHOOD
• 2 SHEDS
• UNFINISHED BASEMENT
• UPDATED ELECTRICAL

Property features AI

Exterior

• Home design: Built in 1938
• Construction: Single-family property with 1,760 living area
• Exterior features: Located in the Sequoyah subdivision

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $435 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: Rents rising fast (+4.6%/yr); 86 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 41% of the median local income ($45k/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 $864 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 + 4.6% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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 $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1938 — 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: 1.23% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.92%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $214,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
147 N Quebec Ave	0.07mi	3/1.5 (-1)	1,932 (+10%)	10mo	$224,000	$116	65
3507 E Archer St	0.46mi	5/2.0 (+1)	1,779 (+1%)	8mo	$110,000	$62	61
3921 E 3rd St	0.47mi	3/1.0 (-1)	1,828 (+4%)	11mo	$225,900	$124	58
711 N Marion Ave	0.27mi	3/2.0 (-1)	1,550 (-12%)	6mo	$189,000	$122	54
3523 E Admiral Ct	0.44mi	3/2.0 (-1)	1,593 (-10%)	2mo	$167,000	$105	53
3503 E Admiral Ct	0.48mi	3/1.0 (-1)	1,572 (-11%)	2mo	$170,000	$108	53
4811 E Latimer St	0.57mi	3/2.0 (-1)	1,700 (-3%)	13mo	$157,000	$92	48
52 S Urbana Ave	0.42mi	5/2.5 (+1)	1,976 (+12%)	4mo	$217,000	$110	46
4531 E 5th St	0.65mi	3/1.0 (-1)	1,512 (-14%)	1mo	$260,000	$172	40
4317 E 5th St	0.62mi	3/2.0 (-1)	1,611 (-8%)	10mo	$220,000	$137	40
116 S Jamestown Ave	0.60mi	4/3.0	2,008 (+14%)	5mo	$280,000	$139	37
4337 E 5th Pl	0.69mi	3/2.0 (-1)	1,602 (-9%)	11mo	$249,900	$156	35

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $9,903
• Equity at exit: $18,638

10-year hold

• IRR: 17.7%
• Equity multiple: 2.56×
• Total profit: $54,659
• Equity at exit: $10,808

Cash invested: $35,000 (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 74115

• Home prices YoY: -9.7%
• Rents YoY: 4.6%
• Active inventory: 86
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,539 high
• Mortgage (P&I): −$656
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $435

Break-even live

Break-even rent $988

Max offer price $125,000

Occupancy floor 67%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 N Marion Ave Tulsa, OK	3.0	2.0	1405	$1,305	$0.93	15d	1	0.35mi
839 N New Haven Ave Tulsa, OK	3.0	1.0	1238	$1,250	$1.01	23d	1	0.38mi
3531 E 4th St Tulsa, OK	3.0	2.0	1652	$1,745	$1.06	23d	1	0.63mi
1150 S Marion Ave Tulsa, OK	3.0	2.5	1800	$2,300	$1.28	23d	1	1.22mi
720 N Columbia Ave Tulsa, OK	3.0	1.0	1233	$1,150	$0.93	3d	1	1.28mi
1404 N Kingston Ave Tulsa, OK	4.0	1.0	1279	$1,350	$1.06	23d	1	1.31mi

Listing history 22 events

1. 2026-06-18
   days on market $125,000 Active 23 DOM
2. 2026-06-17
   days on market $125,000 Active 22 DOM
3. 2026-06-16
   days on market $125,000 Active 21 DOM
4. 2026-06-15
   days on market $125,000 Active 20 DOM
5. 2026-06-13
   days on market $125,000 Active 18 DOM
6. 2026-06-10
   days on market $125,000 Active 15 DOM
7. 2026-06-09
   days on market $125,000 Active 14 DOM
8. 2026-06-08
   days on market $125,000 Active 13 DOM
9. 2026-06-07
   days on market $125,000 Active 12 DOM
10. 2026-06-05
    days on market $125,000 Active 9 DOM
11. 2026-06-03
    days on market $125,000 Active 8 DOM
12. 2026-06-02
    days on market $125,000 Active 7 DOM
13. 2026-06-01
    days on market $125,000 Active 6 DOM
14. 2026-05-31
    days on market $125,000 Active 5 DOM
15. 2026-05-26
    listed $125,000 Active
16. 2025-06-12
    soldstatus $50,000
17. 2020-01-26
    historical
18. 2019-12-18
    price $59,840
19. 2019-10-26
    listed $65,000 Active
20. 2019-10-25
    historical
21. 2019-07-05
    price $68,500
22. 2019-04-25
    listed $75,000 Active

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $1,125 · $94/mo
• Expected delta: +$253/yr (+$21/mo · 29.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 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: $18,463
• − Mortgage interest: −$7,002
• − Property taxes: −$872
• − Insurance: −$625
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$3,636
• Taxable income: $3,373
• Est. tax owed @ 24.0%: −$810
• After-tax cash flow: $4,413/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): 24,297
• Household income: $44,608
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 805.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 44% White 33% Two or more races 19% Black 13% Native American 5%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 19% · Canada
• Languages at home: 57% English-only · Spanish 42%

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: ▼ -26.82%
• Current HPI: 251.0869
• Rent YoY: ▲ 4.57%
• 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

+66.7% since first listed

8 events — show timeline

• 2026-05-26 Listed $125,000 FSBO.com
• 2025-06-12 Sold (Public Records) $50,000 Public Records
• 2020-01-26 Listing Removed — MLS Technology, Inc.
• 2019-12-18 Price Changed $59,840 MLS Technology, Inc.
• 2019-10-26 Listed $65,000 MLS Technology, Inc.
• 2019-10-25 Listing Removed — MLS Technology, Inc.
• 2019-07-05 Price Changed $68,500 MLS Technology, Inc.
• 2019-04-25 Listed $75,000 MLS Technology, Inc.

Property tax history

+4.4%/yr

Latest (2025): $872 · +8.6% YoY. Source: county tax records.