228 E Oklahoma Pl · Tulsa, OK 74106

$144,900

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 29 Days on market

Built 1978 0.27 ac lot Est $100k · 45% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Impeccably kept 3 bedroom 1 bath home close to Downtown Tulsa in well established neighborhood. Recent updates include: newer HVAC, water heater, garage door, updated lighting and more. Home located on large, spacious lot. Appliances stay with the home! Close to highways and many other conveniences!

Key facts

• Storage shed
• Big quarter-acre lot
• Fenced backyard

Tags

• BIG QUARTER-ACRE LOT
• FENCED BACKYARD
• MATURE TREES
• STORAGE SHED
• STAINLESS STEEL APPLIANCES
• MINUTES TO DOWNTOWN TULSA

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Security: No safety shelter
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-story; Faces north; Crawlspace foundation
• Construction: Built with brick, vinyl siding, and wood frame; Asphalt/fiberglass roof
• Exterior features: Concrete driveway; Chain link fencing; Shed(s)

Interior

• Kitchen: Dishwasher; Oven; Range; Stove
• Flooring: Carpet; Tile; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Vinyl windows; Storm door(s); Laminate counters; Ceiling fan(s); Gas range and gas oven connections
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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); 137 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• At $1,961/mo this rent would consume 58% of the median local household income ($41k/yr) (locally 1055% 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 $1k 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 + 3.5% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 30y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $142,726 (1.5% below list)

Questions for the listing agent

1. Built in 1978 — 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: 1.35% ✓
• Cap rate: 10.80%
• Cash-on-cash: 16.08%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $99,960
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 N Boston Pl	0.15mi	3/1.0	952 (+13%)	8mo	$50,000	$53	64
1450 N Nogales Ave	0.62mi	3/1.0	881 (+5%)	17mo	$105,002	$119	48
532 E Tecumseh St	0.50mi	2/1.0 (-1)	720 (-14%)	4mo	$72,000	$100	44
533 E Marshall Pl	0.32mi	2/2.0 (-1)	940 (+12%)	19mo	$165,000	$176	40
2112 N Frankfort Pl	0.67mi	2/1.0 (-1)	720 (-14%)	20mo	$115,000	$160	23

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 · 3.54% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.30×
• Total profit: $12,260
• Equity at exit: $21,605

10-year hold

• IRR: 17.4%
• Equity multiple: 2.48×
• Total profit: $59,852
• Equity at exit: $12,528

Cash invested: $40,572 (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 74106

• Home prices YoY: -2.5%
• Rents YoY: 3.5%
• Active inventory: 137
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,961 high
• Mortgage (P&I): −$760
• Tax from tax record: −$185 /mo · $2,225/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $544

Break-even live

Break-even rent $1,273

Max offer price $144,900

Occupancy floor 67%

Sensitivity live

Price	-10% $626	-5% $585	+0% $544	+5% $503	+10% $462
Rent	-10% $389	-5% $466	+0% $544	+5% $621	+10% $699
Rate	-1.0pp $617	-0.5pp $581	base $544	+0.5pp $506	+1.0pp $468

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2144 N Garrison Pl Tulsa, OK	2.0	1.0	832	$1,050	$1.26	16d	1	0.75mi
1036 N Madison Ave Tulsa, OK	2.0	1.0	800	$1,100	$1.38	24d	1	0.85mi
238 E Young Pl Unit B Tulsa, OK	3.0	2.0	1000	$1,700	$1.70	24d	1	0.87mi
238 E Young Pl Unit A Tulsa, OK	3.0	2.0	1020	$1,550	$1.52	16d	1	0.87mi
424 N Boulder Ave Tulsa, OK	1.0–3.0	1.0–2.5	1220	$3,699	$3.03	2d	62	1.12mi
420 E Archer St Tulsa, OK	1.0–2.0	1.0–2.5	1159	$3,646	$3.15	2d	30	1.19mi
505 E 2nd St S Tulsa, OK	2.0	2.0	1087	$2,180	$2.01	3d	1	1.32mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1110	$2,870	$2.58	20d	5	1.37mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1226	$2,870	$2.34	2d	4	1.37mi
415 E 2nd St S Tulsa, OK	1.0–2.0	1.0–2.0	807	$2,180	$2.70	2d	28	1.37mi
211 S Greenwood Ave Tulsa, OK	1.0–2.0	1.0–2.0	933	$2,344	$2.51	2d	3	1.41mi

Listing history 15 events

1. 2026-05-08
   status Pending
2. 2026-04-20
   price $144,900
3. 2026-04-09
   listed $169,900 Active
4. 2024-06-11
   soldstatus $160,000
5. 2024-06-06
   soldstatus $160,000 Closed 300-char remark

   Show marketing remark (300 chars)

   Impeccably kept 3 bedroom 1 bath home close to Downtown Tulsa in well established neighborhood. Recent updates include: newer HVAC, water heater, garage door, updated lighting and more. Home located on large, spacious lot. Appliances stay with the home! Close to highways and many other conveniences!

6. 2024-05-07
   status Pending 300-char remark

   Show marketing remark (300 chars)

   Impeccably kept 3 bedroom 1 bath home close to Downtown Tulsa in well established neighborhood. Recent updates include: newer HVAC, water heater, garage door, updated lighting and more. Home located on large, spacious lot. Appliances stay with the home! Close to highways and many other conveniences!

7. 2024-04-25
   status Active 300-char remark

   Show marketing remark (300 chars)

   Impeccably kept 3 bedroom 1 bath home close to Downtown Tulsa in well established neighborhood. Recent updates include: newer HVAC, water heater, garage door, updated lighting and more. Home located on large, spacious lot. Appliances stay with the home! Close to highways and many other conveniences!

8. 2024-04-15
   status Pending 300-char remark

   Show marketing remark (300 chars)

   Impeccably kept 3 bedroom 1 bath home close to Downtown Tulsa in well established neighborhood. Recent updates include: newer HVAC, water heater, garage door, updated lighting and more. Home located on large, spacious lot. Appliances stay with the home! Close to highways and many other conveniences!

9. 2024-04-01
   listed $165,000 Active 300-char remark

   Show marketing remark (300 chars)

   Impeccably kept 3 bedroom 1 bath home close to Downtown Tulsa in well established neighborhood. Recent updates include: newer HVAC, water heater, garage door, updated lighting and more. Home located on large, spacious lot. Appliances stay with the home! Close to highways and many other conveniences!

10. 2008-05-27
    soldstatus $60,000
11. 2008-04-01
    soldstatus $30,300 167-char remark

    Show marketing remark (167 chars)

    corporate owned - sold 'AS IS'. 2 driveways; some replacement insulated windows; updated central heating unit; double gate on west driveway; near downtown, OSU-Tulsa.

12. 2008-02-23
    historical 167-char remark

    Show marketing remark (167 chars)

    corporate owned - sold 'AS IS'. 2 driveways; some replacement insulated windows; updated central heating unit; double gate on west driveway; near downtown, OSU-Tulsa.

13. 2007-11-21
    listed $37,500 167-char remark

    Show marketing remark (167 chars)

    corporate owned - sold 'AS IS'. 2 driveways; some replacement insulated windows; updated central heating unit; double gate on west driveway; near downtown, OSU-Tulsa.

14. 1997-02-25
    historical
15. 1996-10-16
    listed $33,500

ⓘ 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: $2,225 · $185/mo
• Projected year-2 tax: $2,225 · $185/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 6/10 Major 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,537
• − Mortgage interest: −$8,117
• − Property taxes: −$2,225
• − Insurance: −$724
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$4,215
• Taxable income: $4,489
• Est. tax owed @ 24.0%: −$1,077
• After-tax cash flow: $5,448/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): 15,655
• Household income: $40,776
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1055.0

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 0.65)
• Race & ethnicity: Black 55% White 17% Hispanic / Latino 14% Two or more races 13% Native American 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 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: ▼ -4.58%
• Current HPI: 179.5268
• Rent YoY: ▲ 3.54%
• 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

+332.5% since first listed

15 events — show timeline

• 2026-05-08 Pending — MLS Technology, Inc.
• 2026-04-20 Price Changed $144,900 MLS Technology, Inc.
• 2026-04-09 Listed $169,900 MLS Technology, Inc.
• 2024-06-11 Sold (Public Records) $160,000 Public Records
• 2024-06-06 Sold (MLS) $160,000 MLS Technology, Inc.
• 2024-05-07 Pending — MLS Technology, Inc.
• 2024-04-25 Relisted — MLS Technology, Inc.
• 2024-04-15 Pending — MLS Technology, Inc.
• 2024-04-01 Listed $165,000 MLS Technology, Inc.
• 2008-05-27 Sold (Public Records) $60,000 Public Records
• 2008-04-01 Sold (MLS) $30,300 MLS Technology, Inc.
• 2008-02-23 Listing Removed — MLS Technology, Inc.
• 2007-11-21 Listed $37,500 MLS Technology, Inc.
• 1997-02-25 Listing Removed — MLS Technology, Inc.
• 1996-10-16 Listed $33,500 MLS Technology, Inc.

Property tax history

+10.4%/yr

Latest (2025): $2,225 · +158.7% YoY. Source: county tax records.