1218 NW 8th St · Oklahoma City, OK 73106

$384,900

1 bd · 4.0 ba · 2,224 sqft · MultiFamily public records · 110 Days on market

Built 1910 7,000 sqft lot $173/sqft · 16% above area Est $422k · 9% 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 +11.5/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Exceptional investment opportunity featuring a well-maintained 5-unit property consisting of a fourplex (3 - 1 bed 1 bath units and 1 - 2 bed 1 bath unit) in the front and a single-family home (1 bed 1 bath) in the rear. This versatile setup offers strong income potential with four of the five units currently occupied, providing immediate cash flow while leaving one unit available for owner-occupancy or additional rental income. Fully occupied rents are $4,190 a month! All units have been well cared for and include various updates throughout, ensuring tenant appeal and reduced maintenance concerns. The property reflects pride of ownership with consistent upkeep and thoughtful improvements over time. Capex has been maintained properly. The separate house in the back adds flexibility and privacy, making it highly desirable for tenants and increasing overall rental value. Whether you’re looking to expand your portfolio or secure a multi-unit property with strong income potential, this opportunity checks all the boxes. Don’t miss your chance to own a solid, income-producing property with room to grow.

Key facts

• Consistent upkeep
• Immediate cash flow
• Various updates

Tags

• WELL MAINTAINED PROPERTY
• STRONG INCOME POTENTIAL
• IMMEDIATE CASH FLOW
• VARIOUS UPDATES
• CONSISTENT UPKEEP
• THOUGHTFUL IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 1-bed/4.0-bath multifamily listed at $385k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $385k).
• Recommended offer: $350k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 3.7% in Oklahoma City — 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 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 167 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• At $5,750/mo this rent would consume 115% of the median local household income ($60k/yr) (locally 892% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $108k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($350k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $24k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; list at $385k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $350,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.49% ✓
• Cap rate: 12.58%
• Cash-on-cash: 22.46%
• DSCR: 2.00
• GRM: 5.6

CMA / ARV

• ARV (median comp): $422,360
• List price: $384,900
• Delta: -8.87%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.93% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 1.61×
• Total profit: $65,684
• Equity at exit: $57,390

10-year hold

• IRR: 23.8%
• Equity multiple: 3.05×
• Total profit: $220,961
• Equity at exit: $33,279

Cash invested: $107,772 (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 73106

• Home prices YoY: -34.8%
• Rents YoY: 2.9%
• Active inventory: 167
• Price-to-rent: 28.9×

Monthly cashflow live

• Estimated rent: $5,750 medium
• Mortgage (P&I): −$2,018
• Tax from tax record: −$347 /mo · $4,162/yr
• Insurance: −$160
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,208
• Net cashflow: $2,017

Break-even live

Break-even rent $3,197

Max offer price $384,900

Occupancy floor 60%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,436
1× unit	2	1	$1,315
Total (5 units)			$5,750

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: $96,225
• Closing costs: $11,547
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1209 NW 11th St Oklahoma City, OK	2.0	2.5	1400	$1,795	$1.28	3d	1	0.27mi
1209 NW 11th St Oklahoma City, OK	2.0	2.5	1400	$1,795	$1.28	16d	1	0.27mi
1305 Classen Dr Oklahoma City, OK	1.0–3.0	1.0–3.5	1677	$2,100	$1.25	3d	7	0.52mi
1325 N Dewey Ave Unit 1325 Oklahoma City, OK	2.0	4.0	2442	$5,750	$2.35	15d	1	0.60mi
627 Couch Dr Oklahoma City, OK	2.0	2.5	1534	$2,495	$1.63	23d	1	0.67mi
835 W Sheridan Ave Oklahoma City, OK	3.0	1.0–2.0	992	$1,812	$1.83	1d	19	0.76mi
140 Park Ave Oklahoma City, OK	3.0	1.0–2.5	2033	$5,514	$2.71	1d	32	1.11mi
2301 N Florida Ave Oklahoma City, OK	2.0	1.5	1700	$1,235	$0.73	16d	1	1.16mi
425 N Oklahoma Ave Oklahoma City, OK	1.0–3.0	1.0–2.5	1030	$1,125	$1.09	1d	44	1.24mi
800 N Oklahoma Ave Oklahoma City, OK	2.0	1.0–3.0	1051	$1,875	$1.78	1d	32	1.25mi

Listing history 27 events

1. 2026-06-18
   days on market $384,900 Active 110 DOM
2. 2026-06-17
   days on market $384,900 Active 109 DOM
3. 2026-06-16
   days on market $384,900 Active 108 DOM
4. 2026-06-15
   days on market $384,900 Active 107 DOM
5. 2026-06-13
   days on market $384,900 Active 105 DOM
6. 2026-06-09
   pricedays on market $384,900 Active 101 DOM
7. 2026-06-08
   days on market $399,000 Active 100 DOM
8. 2026-06-07
   days on market $399,000 Active 99 DOM
9. 2026-06-05
   days on market $399,000 Active 96 DOM
10. 2026-06-03
    days on market $399,000 Active 95 DOM
11. 2026-06-02
    days on market $399,000 Active 94 DOM
12. 2026-06-01
    days on market $399,000 Active 93 DOM
13. 2026-05-31
    days on market $399,000 Active 92 DOM
14. 2026-03-27
    price $399,000 1130-char remark

    Show marketing remark (1130 chars)

    Exceptional investment opportunity featuring a well-maintained 5-unit property consisting of a fourplex (3 - 1 bed 1 bath units and 1 - 2 bed 1 bath unit) in the front and a single-family home (1 bed 1 bath) in the rear. This versatile setup offers strong income potential with four of the five units currently occupied, providing immediate cash flow while leaving one unit available for owner-occupancy or additional rental income. Fully occupied rents are $4,190 a month! All units have been well cared for and include various updates throughout, ensuring tenant appeal and reduced maintenance concerns. The property reflects pride of ownership with consistent upkeep and thoughtful improvements over time. Capex has been maintained properly. The separate house in the back adds flexibility and privacy, making it highly desirable for tenants and increasing overall rental value. Whether you’re looking to expand your portfolio or secure a multi-unit property with strong income potential, this opportunity checks all the boxes. Don’t miss your chance to own a solid, income-producing property with room to grow.

15. 2026-02-28
    listed $409,000 Active 1130-char remark

    Show marketing remark (1130 chars)

    Exceptional investment opportunity featuring a well-maintained 5-unit property consisting of a fourplex (3 - 1 bed 1 bath units and 1 - 2 bed 1 bath unit) in the front and a single-family home (1 bed 1 bath) in the rear. This versatile setup offers strong income potential with four of the five units currently occupied, providing immediate cash flow while leaving one unit available for owner-occupancy or additional rental income. Fully occupied rents are $4,190 a month! All units have been well cared for and include various updates throughout, ensuring tenant appeal and reduced maintenance concerns. The property reflects pride of ownership with consistent upkeep and thoughtful improvements over time. Capex has been maintained properly. The separate house in the back adds flexibility and privacy, making it highly desirable for tenants and increasing overall rental value. Whether you’re looking to expand your portfolio or secure a multi-unit property with strong income potential, this opportunity checks all the boxes. Don’t miss your chance to own a solid, income-producing property with room to grow.

16. 2024-09-05
    historical
17. 2024-08-02
    status Active
18. 2024-07-21
    status Pending
19. 2024-07-07
    price $395,000
20. 2024-06-19
    price $405,000
21. 2024-05-25
    listed $420,000 Active
22. 2014-07-18
    soldstatus $138,000
23. 2014-07-15
    soldstatus $138,000
24. 2014-02-01
    listed $150,000
25. 2006-03-10
    historical
26. 2005-08-15
    listed $135,000
27. 1987-07-24
    soldstatus $97,533

ⓘ 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: $4,162 · $347/mo
• Projected year-2 tax: $4,162 · $347/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 ≥107°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,000
• − Mortgage interest: −$21,560
• − Property taxes: −$4,162
• − Insurance: −$1,924
• − Repairs & maintenance: −$5,520
• − Management: −$5,520
• − Depreciation: −$11,197
• Taxable income: $19,116
• Est. tax owed @ 24.0%: −$4,588
• After-tax cash flow: $19,614/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: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• County: Oklahoma County · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 12,140
• Household income: $60,205
• Rent vs Own: 64.6% rent · 35.4% own
• Severe rent burden: 892.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 50% Hispanic / Latino 27% Two or more races 15% Black 7% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Scottish 3% Lithuanian 2% Slovak 2%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 71% English-only · Spanish 21% German/W. Germanic 3% Vietnamese 2%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -237.74%
• Current HPI: 445.1464
• Rent YoY: ▲ 2.93%
• Metro: Oklahoma City, 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

+309.1% since first listed

14 events — show timeline

• 2026-03-27 Price Changed $399,000 MLSOK
• 2026-02-28 Listed $409,000 MLSOK
• 2024-09-05 Listing Removed — MLSOK
• 2024-08-02 Relisted — MLSOK
• 2024-07-21 Pending — MLSOK
• 2024-07-07 Price Changed $395,000 MLSOK
• 2024-06-19 Price Changed $405,000 MLSOK
• 2024-05-25 Listed $420,000 MLSOK
• 2014-07-18 Sold (Public Records) $138,000 Public Records
• 2014-07-15 Sold (MLS) $138,000 MLSOK
• 2014-02-01 Listed $150,000 MLSOK
• 2006-03-10 Listing Removed — MLSOK
• 2005-08-15 Listed $135,000 MLSOK
• 1987-07-24 Sold (Public Records) $97,533 Public Records

Property tax history

+17.9%/yr

Latest (2025): $4,162 · +4.2% YoY. Source: county tax records.