2208 W Memphis St · Broken Arrow, OK 74012

$190,000

3 bd · 2.0 ba · 1,670 sqft · SingleFamily public records · 2 Days on market

Built 1978 7,820 sqft lot Est $242k · 22% under $4/mo HOA

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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 +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great neighborhood in Union School district. 3/2/2 with extra large family room/dining room combination. New carpet, new appliances, newer roof, walk-in closets. Some final finishes needed.

Key facts

• Galley kitchen
• New roof
• 7,820 sq ft lot

Tags

• NEW ROOF
• VAULTED BEAMED CEILINGS
• WOODBURNING FIREPLACE
• HARD SURFACE FLOORING
• GALLEY KITCHEN
• FULLY FENCED BACKYARD

Property features AI

Finance

• HOA & community: Homeowners association with $50 annual fee; Community gutters

Exterior

• Parking: Attached garage; 2-car garage
• Security: No safety shelter
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone available
• Home design: Single-story; Faces west; Slab foundation
• Construction: Stone and wood frame construction; Asphalt/fiberglass roof; Built in public-record year
• Exterior features: Rain gutters; Privacy fencing; Sidewalks

Interior

• Kitchen: Built-in oven; Cooktop; Range; Oven; Dishwasher; Garbage disposal
• Flooring: Laminate flooring; Wood veneer flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: High ceilings; Cable TV available; Ceiling fans; Aluminum-framed windows; Electric range connection; Other interior features
• Laundry & utility: Gas dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Cap rate 7.6% vs local median 4.0% in Broken Arrow — 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 78/100 on livability (#7 in OK, #2,691 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Union (urban): math 20% / reading 20% proficiency, ranked #160 of 270 in OK (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Peters Es (math 22% / reading 27%, grade F, #354 of 845 statewide, top 47%, 434 students, 0% FRL); Union 6Th-7Th Grade Ctr (math 18% / reading 17%, grade F, #186 of 345 statewide, top 55%, 2,182 students, 0% FRL); Union Hs (math 22% / reading 31%, grade F, #139 of 447 statewide, top 31%, 3,355 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.9%/yr); 445 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 32y 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 $115k; list at $190k implies a 65% gain — meaningful room to come down on a strong offer.

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 $190,000

Questions for the listing agent

1. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.02% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $242,150
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2110 W Pittsburgh Pl	0.28mi	3/2.0	1,603 (-4%)	1mo	$243,000	$152	79
1912 W Pittsburg Ct	0.34mi	3/2.0	1,756 (+5%)	4mo	$217,000	$124	73
1705 W Jackson Pl	0.41mi	3/2.0	1,741 (+4%)	1mo	$230,000	$132	72
1501 S Narcissus Ave	0.58mi	3/2.0	1,675 (+0%)	3mo	$240,000	$143	70
2516 W Broadway St	0.70mi	3/2.0	1,669 (-0%)	2mo	$284,900	$171	66
1108 S Poplar Ave	0.33mi	3/2.0	1,488 (-11%)	1mo	$245,000	$165	65
1213 S Oak Ave	0.39mi	3/2.0	1,815 (+9%)	4mo	$299,990	$165	64
1213 S Maple Pl	0.63mi	3/1.5	1,724 (+3%)	2mo	$195,000	$113	62
1909 W Oakridge St	0.30mi	3/2.0	1,905 (+14%)	5mo	$215,000	$113	58
104 S Walnut Ave	0.62mi	3/2.0	1,789 (+7%)	1mo	$259,900	$145	58
1905 W Indianola St	0.40mi	3/2.0	1,895 (+14%)	3mo	$260,000	$137	56
1916 W Indianola St	0.39mi	4/2.0 (+1)	1,874 (+12%)	6mo	$275,000	$147	52

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-17,481
• Equity at exit: $28,330

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $1,672
• Equity at exit: $16,428

Cash invested: $53,200 (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 74012

• Rents YoY: 2.9%
• Active inventory: 445
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,932 high
• Mortgage (P&I): −$996
• Tax from tax record: −$237 /mo · $2,842/yr
• Insurance: −$79
• HOA: −$4
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $210

Break-even live

Break-even rent $1,666

Max offer price $190,000

Occupancy floor 84%

Sensitivity live

Price	-10% $318	-5% $264	+0% $210	+5% $157	+10% $103
Rent	-10% $58	-5% $134	+0% $210	+5% $287	+10% $363
Rate	-1.0pp $306	-0.5pp $259	base $210	+0.5pp $161	+1.0pp $111

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1756 S Pine Ave Broken Arrow, OK	3.0	1.0	1146	$1,573	$1.37	25d	1	0.78mi
1756 S Pine Ave Broken Arrow, OK	3.0	1.0	1146	$1,678	$1.46	4d	1	0.78mi
2630 W Washington Pl Broken Arrow, OK	4.0	2.0	1867	$1,975	$1.06	25d	1	0.87mi
401 N Fir Pl Broken Arrow, OK	3.0	2.0	1746	$1,850	$1.06	13d	1	0.92mi
1008 W Quincy St Broken Arrow, OK	4.0	2.0	1617	$1,750	$1.08	18d	1	0.94mi
1008 W Quincy St Broken Arrow, OK	4.0	2.0	1617	$1,750	$1.08	23d	1	0.94mi
3002 W Washington Pl Broken Arrow, OK	4.0	2.0	2211	$1,700	$0.77	5d	1	1.00mi
511 W Fort Worth St Unit 511 Broken Arrow, OK	3.0	2.5	1621	$2,650	$1.63	18d	1	1.21mi
507 W Fort Worth St Unit 507 Broken Arrow, OK	3.0	2.5	1621	$2,850	$1.76	18d	1	1.22mi
513 W Dallas St Unit A Broken Arrow, OK	3.0	2.0	1322	$1,850	$1.40	5d	1	1.24mi
513 W Dallas St Unit B Broken Arrow, OK	3.0	2.0	1362	$1,850	$1.36	25d	1	1.24mi
1911 W Canton Pl Broken Arrow, OK	3.0	2.0	1359	$1,750	$1.29	25d	1	1.27mi
1013 W Atlanta Ct Broken Arrow, OK	3.0	1.0	1200	$1,325	$1.10	18d	1	1.28mi
221 W Commercial St Broken Arrow, OK	3.0	1.5	2192	$1,895	$0.86	18d	1	1.45mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 18 events

1. 2026-05-21
   status Pending
2. 2026-05-18
   listed $190,000 Active
3. 2026-02-11
   historical $1,595
4. 2026-02-09
   historical
5. 2026-02-03
   price $1,595
6. 2026-01-31
   price $219,000
7. 2026-01-02
   price $229,000
8. 2025-12-02
   listed $1,800
9. 2025-11-28
   listed $235,000 Active
10. 2014-06-11
    soldstatus $115,000
11. 2014-04-25
    soldstatus $115,000 189-char remark

    Show marketing remark (189 chars)

    Great neighborhood in Union School district. 3/2/2 with extra large family room/dining room combination. New carpet, new appliances, newer roof, walk-in closets. Some final finishes needed.

12. 2014-04-11
    historical 189-char remark

    Show marketing remark (189 chars)

    Great neighborhood in Union School district. 3/2/2 with extra large family room/dining room combination. New carpet, new appliances, newer roof, walk-in closets. Some final finishes needed.

13. 2014-03-13
    listed $116,000 189-char remark

    Show marketing remark (189 chars)

    Great neighborhood in Union School district. 3/2/2 with extra large family room/dining room combination. New carpet, new appliances, newer roof, walk-in closets. Some final finishes needed.

14. 2007-10-01
    soldstatus $85,000
15. 1996-08-01
    soldstatus $81,500
16. 1996-06-13
    listed $79,900
17. 1994-10-25
    historical
18. 1994-04-25
    listed $74,500

ⓘ 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: $2,842 · $237/mo
• Projected year-2 tax: $2,842 · $237/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $23,190
• − Mortgage interest: −$10,643
• − Property taxes: −$2,842
• − Insurance: −$950
• − Repairs & maintenance: −$1,855
• − Management: −$1,855
• − HOA: −$48
• − Depreciation: −$5,527
• Taxable loss: −$531
• Est. tax savings @ 24.0%: +$127
• After-tax cash flow: $2,651/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: Union
• NCES district ID: 4030600
• Math proficiency: 20% ▼ -9.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $52,744
• Composite: 18.18/100
• National rank: #8962
• State rank: #160 of 270 in OK

Livability — Broken Arrow

• Score: 78/100
• State rank: #7
• US rank: #2691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broken Arrow, OK
• County: Tulsa County · 640,811 people
• City population: 144,172
• Metro: Tulsa, OK
• Population (ZIP): 65,060
• Household income: $81,456
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 1378.0

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 0.58)
• Race & ethnicity: White 63% Two or more races 13% Hispanic / Latino 11% Black 7% Asian 5% Native American 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 7% Vietnamese 2% Other Asian/Pacific 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: ▼ -170.42%
• Current HPI: 214.1279
• Rent YoY: ▲ 2.94%
• 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

+155.0% since first listed

18 events — show timeline

• 2026-05-21 Pending — MLS Technology, Inc.
• 2026-05-18 Listed $190,000 MLS Technology, Inc.
• 2026-02-11 Rental Removed $1,595 BUILDIUM
• 2026-02-09 Listing Removed — MLS Technology, Inc.
• 2026-02-03 Price Changed $1,595 BUILDIUM
• 2026-01-31 Price Changed $219,000 MLS Technology, Inc.
• 2026-01-02 Price Changed $229,000 MLS Technology, Inc.
• 2025-12-02 Listed for Rent $1,800 BUILDIUM
• 2025-11-28 Listed $235,000 MLS Technology, Inc.
• 2014-06-11 Sold (Public Records) $115,000 Public Records
• 2014-04-25 Sold (MLS) $115,000 MLS Technology, Inc.
• 2014-04-11 Listing Removed — MLS Technology, Inc.
• 2014-03-13 Listed $116,000 MLS Technology, Inc.
• 2007-10-01 Sold (Public Records) $85,000 Public Records
• 1996-08-01 Sold (Public Records) $81,500 Public Records
• 1996-06-13 Listed $79,900 MLS Technology, Inc.
• 1994-10-25 Listing Removed — MLS Technology, Inc.
• 1994-04-25 Listed $74,500 MLS Technology, Inc.

Property tax history

+5.6%/yr

Latest (2025): $2,842 · +6.2% YoY. Source: county tax records.