18235 S 129th East Ave · Bixby, OK 74008

$24,500

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 321 Days on market

Built 1905 0.86 ac lot

---

Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property is sold in as-is condition, no repairs are to be made by the seller. The property is to be sold as a package with the adjacent property 18.61 acres (MOL). Total package $478,600.00

Key facts

• 0.86 acre lot
• Built 1905
• Listed 321 days

Property features AI

Finance

• Other: Sale requires court approval; Property is unoccupied
• Financial info: Not assumable; Not qualifying for seller financing; Current price listed at $24,500
• HOA & community: No mandatory association dues

Exterior

• Utilities: Homestead exemption claimed
• Home design: Single family residence; One level
• Construction: Frame construction; Composition roof; Conventional foundation
• Exterior features: Interior lot; No additional exterior features listed; Property is existing

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; No central cooling
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $986 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 54.6% vs local median 3.7% in Bixby — 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 72/100 on livability (#24 in OK) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• 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); 797 active listings in the ZIP; solid renter incomes; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent is only 17% of the median local income ($104k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $169 of loan paydown is wiped out by about $735 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 + 3.3% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 321 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $21,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 321 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 5.91% ✓
• Cap rate: 54.57%
• Cash-on-cash: 172.42%
• DSCR: 8.67
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.34% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.65×
• Total profit: $59,319
• Equity at exit: $3,653

10-year hold

• IRR: —
• Equity multiple: 20.62×
• Total profit: $134,605
• Equity at exit: $2,118

Cash invested: $6,860 (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 74008

• Rents YoY: 3.3%
• Active inventory: 797
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$128
• Tax from tax record: −$20 /mo · $236/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $986

Break-even live

Break-even rent $200

Max offer price $24,500

Occupancy floor 27%

Sensitivity live

Price	-10% $1,000	-5% $993	+0% $986	+5% $979	+10% $972
Rent	-10% $871	-5% $928	+0% $986	+5% $1,043	+10% $1,100
Rate	-1.0pp $998	-0.5pp $992	base $986	+0.5pp $979	+1.0pp $973

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: $6,125
• Closing costs: $735
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-15
   status Pending
2. 2025-05-26
   listed $24,500 Active
3. 2025-01-31
   historical
4. 2024-06-12
   listed $24,500 Active
5. 2024-06-05
   historical
6. 2024-05-09
   status Active
7. 2024-02-05
   status Pending
8. 2024-01-04
   listed $24,500 Active
9. 2023-06-30
   historical
10. 2023-06-29
    status Active
11. 2023-03-16
    status Pending
12. 2023-03-14
    listed $15,000 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: $236 · $20/mo
• Projected year-2 tax: $236 · $20/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 7/10 Severe
• 🌡 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: $17,377
• − Mortgage interest: −$1,372
• − Property taxes: −$236
• − Insurance: −$122
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$713
• Taxable income: $12,153
• Est. tax owed @ 24.0%: −$2,917
• After-tax cash flow: $8,911/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: Bixby
• NCES district ID: 4004500
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $75,727
• Composite: 34.9/100
• National rank: #5081
• State rank: #15 of 270 in OK

Livability — Bixby

• Score: 72/100
• State rank: #24
• US rank: #6029

Category grades

Amenities F Commute F Cost of living A- Crime A+ Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tulsa County · 640,811 people
• City population: 34,006
• Metro: Tulsa, OK
• Population (ZIP): 34,006
• Household income: $104,000
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 525.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 15% Hispanic / Latino 9% Native American 5% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 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: ▼ -127.20%
• Current HPI: 195.2538
• Rent YoY: ▲ 3.34%
• 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

+63.3% since first listed

12 events — show timeline

• 2026-04-15 Pending — MLSOK
• 2025-05-26 Listed $24,500 MLSOK
• 2025-01-31 Listing Removed — MLSOK
• 2024-06-12 Listed $24,500 MLSOK
• 2024-06-05 Listing Removed — MLSOK
• 2024-05-09 Relisted — MLSOK
• 2024-02-05 Pending — MLSOK
• 2024-01-04 Listed $24,500 MLSOK
• 2023-06-30 Listing Removed — MLSOK
• 2023-06-29 Relisted — MLSOK
• 2023-03-16 Pending — MLSOK
• 2023-03-14 Listed $15,000 MLSOK

Property tax history

+1.1%/yr

Latest (2025): $236 · +3.1% YoY. Source: county tax records.