12934 E 28th Pl · Tulsa, OK 74134

$110,000

3 bd · 2.0 ba · 1,348 sqft · SingleFamily public records · 1 Days on market

Built 1983 Est $202k · 46% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PATIO HOME IN GREAT SHAPE & PRICED TO SELL FAST. NEWER ROOF & EXT. PAINT. HOT TUB & GAZEBO STAY W/ FULL PRICE OFFER (EXCL. FROM INSP. ) 2 BATH UP, 1/2 DOWN. WB FIREPLACE. BEST PRICE IN TAMARAC.

Key facts

• Built 1983

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 11.2% 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: Rents rising (+3.5%/yr); 195 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 + 3.5% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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 $80k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $110,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.38% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.62%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $202,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13110 E 29th St	0.15mi	3/2.0	1,235 (-8%)	3mo	$40,000	$32	76
2926 S 122nd EastAvenue	0.47mi	3/2.0	1,331 (-1%)	2mo	$200,000	$150	75
13031 E 28th Pl	0.15mi	3/2.5	1,190 (-12%)	1mo	$120,000	$101	71
12128 E 30th Pl	0.53mi	3/2.0	1,316 (-2%)	4mo	$209,000	$159	68
2745 S 138th EastAvenue	0.56mi	3/2.0	1,359 (+1%)	6mo	$145,333	$107	67
2816 S 124th EastAvenue	0.37mi	3/2.0	1,469 (+9%)	1mo	$225,000	$153	66
3011 S 124th East Ave	0.41mi	3/2.0	1,449 (+8%)	3mo	$182,500	$126	65
11901 E 27th St	0.69mi	3/2.0	1,342 (-0%)	2mo	$215,000	$160	65
2838 S 138th EastAvenue	0.51mi	3/2.0	1,487 (+10%)	1mo	$211,000	$142	58
2511 S 121st EastAvenue	0.62mi	3/2.0	1,184 (-12%)	0mo	$230,000	$194	50
2201 S 133rd East Ave	0.64mi	3/1.0	1,508 (+12%)	4mo	$166,000	$110	43
2428 S 121st EastAvenue	0.69mi	3/1.5	1,177 (-13%)	6mo	$190,000	$161	40

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: 9.6%
• Equity multiple: 1.38×
• Total profit: $11,779
• Equity at exit: $16,401

10-year hold

• IRR: 19.2%
• Equity multiple: 2.65×
• Total profit: $50,687
• Equity at exit: $9,511

Cash invested: $30,800 (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 74134

• Home prices YoY: -25.5%
• Rents YoY: 3.5%
• Active inventory: 195
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,513 high
• Mortgage (P&I): −$577
• Tax from tax record: −$120 /mo · $1,446/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $452

Break-even live

Break-even rent $941

Max offer price $110,000

Occupancy floor 65%

Sensitivity live

Price	-10% $514	-5% $483	+0% $452	+5% $421	+10% $390
Rent	-10% $333	-5% $392	+0% $452	+5% $512	+10% $572
Rate	-1.0pp $508	-0.5pp $480	base $452	+0.5pp $424	+1.0pp $395

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13102 E 30th St Tulsa, OK	3.0	2.0	1190	$1,395	$1.17	24d	1	0.22mi
13102 E 30th St Tulsa, OK	3.0	2.0	1190	$1,395	$1.17	20d	1	0.22mi
3311 S 126th East Ave Tulsa, OK	3.0	2.0	1395	$1,650	$1.18	24d	1	0.58mi
3208 S 137th East Ave Tulsa, OK	3.0	2.0	1367	$1,578	$1.15	3d	1	0.59mi
13809 E 27th Pl Tulsa, OK	4.0	2.0	1741	$1,785	$1.03	22d	1	0.59mi
2336 S 137th East Ave Tulsa, OK	1.0–3.0	1.0–2.0	1080	$1,499	$1.39	2d	1	0.65mi
2444 S 121st East Ave Tulsa, OK	3.0	1.5	1168	$1,395	$1.19	24d	1	0.66mi
2319 S 119th East Ave Tulsa, OK	3.0	1.0	990	$1,365	$1.38	24d	1	0.74mi
12111 E 21st Pl Tulsa, OK	3.0	1.0	1199	$1,395	$1.16	22d	1	0.86mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.0–2.0	950	$1,499	$1.58	2d	4	1.01mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.5–2.0	975	$1,439	$1.48	22d	4	1.01mi
3121 S 145th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	825	$1,200	$1.45	3d	1	1.04mi
2756 S 114th East Ave Tulsa, OK	3.0	2.0	1120	$1,650	$1.47	24d	1	1.05mi
1707 S 138th East Ave Tulsa, OK	3.0	2.0	1437	$1,495	$1.04	24d	1	1.18mi
4020 S 130th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	737	$1,245	$1.69	22d	4	1.21mi
1541 S 137th East Ave Tulsa, OK	3.0	2.0	1313	$1,495	$1.14	3d	1	1.22mi
12525 E 41st St Tulsa, OK	1.0–2.0	1.0–2.0	775	$1,300	$1.68	22d	1	1.23mi
4104 S 130th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	750	$1,299	$1.73	12d	23	1.31mi
12804 E 13th St Tulsa, OK	3.0	1.5	1268	$1,550	$1.22	24d	1	1.39mi
2140 S 109th East Ave Unit 2142C Tulsa, OK	2.0	1.5	1000	$895	$0.90	24d	1	1.44mi

Listing history 6 events

1. 2026-05-26
   listed $110,000 Active
2. 2002-12-05
   soldstatus $80,000
3. 2002-11-25
   soldstatus $80,000 211-char remark

   Show marketing remark (211 chars)

   PATIO HOME IN GREAT SHAPE & PRICED TO SELL FAST. NEWER ROOF & EXT. PAINT. HOT TUB & GAZEBO STAY W/ FULL PRICE OFFER (EXCL. FROM INSP. ) 2 BATH UP, 1/2 DOWN. WB FIREPLACE. BEST PRICE IN TAMARAC.

4. 2002-10-04
   historical 211-char remark

   Show marketing remark (211 chars)

   PATIO HOME IN GREAT SHAPE & PRICED TO SELL FAST. NEWER ROOF & EXT. PAINT. HOT TUB & GAZEBO STAY W/ FULL PRICE OFFER (EXCL. FROM INSP. ) 2 BATH UP, 1/2 DOWN. WB FIREPLACE. BEST PRICE IN TAMARAC.

5. 2002-08-04
   listed $83,900 211-char remark

   Show marketing remark (211 chars)

   PATIO HOME IN GREAT SHAPE & PRICED TO SELL FAST. NEWER ROOF & EXT. PAINT. HOT TUB & GAZEBO STAY W/ FULL PRICE OFFER (EXCL. FROM INSP. ) 2 BATH UP, 1/2 DOWN. WB FIREPLACE. BEST PRICE IN TAMARAC.

6. 1995-01-31
   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: $1,446 · $120/mo
• Projected year-2 tax: $1,446 · $120/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 7/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,157
• − Mortgage interest: −$6,162
• − Property taxes: −$1,446
• − Insurance: −$550
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$3,200
• Taxable income: $3,894
• Est. tax owed @ 24.0%: −$935
• After-tax cash flow: $4,491/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): 23,323
• Household income: $73,119
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 608.0

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 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 26% Two or more races 15% Black 10% Asian 7% Native American 5%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 18% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 22% Other Asian/Pacific 3% Vietnamese 2%

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: ▼ -68.07%
• Current HPI: 198.7031
• Rent YoY: ▲ 3.52%
• 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

+83.3% since first listed

6 events — show timeline

• 2026-05-26 Listed $110,000 FSBO.com
• 2002-12-05 Sold (Public Records) $80,000 Public Records
• 2002-11-25 Sold (MLS) $80,000 MLS Technology, Inc.
• 2002-10-04 Listing Removed — MLS Technology, Inc.
• 2002-08-04 Listed $83,900 MLS Technology, Inc.
• 1995-01-31 Sold (Public Records) $60,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,446 · +6.9% YoY. Source: county tax records.