1332 S Johnstone Ave · Bartlesville, OK 74003

$45,000

2 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 4 Days on market

Built 1921 7,650 sqft lot Est $82k · 45% under

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Why this score? — see what drove the A 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

She may not be the fanciest gal on the block, but 1332 S. Johnstone has good bones, a welcoming front porch, and plenty of potential. Nestled in the heart of Downtown Bartlesville, this 2-bedroom, 1-bath home offers 1,183 square feet per CH, surprisingly large closets, and the kind of charm that's getting harder to find. She's ready for someone with vision, a little elbow grease, and a soft spot for bringing old homes back to life. Whether you're looking for your next project, investment opportunity, or a place to make your own, this downtown dame is waiting for her next chapter.

Key facts

• Front porch
• Large closets
• 7,650 sq ft lot

Tags

• FRONT PORCH
• LARGE CLOSETS
• DOWNTOWN BARTLESVILLE

Property features AI

Finance

• HOA & community: Sidewalks in the community

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story home; Faces west; Crawlspace foundation
• Construction: Built with wood siding and wood frame; Asphalt/fiberglass roof
• Exterior features: Covered patio and porch; Porch; Patio; Full fencing; Shed(s)

Interior

• Kitchen: Pantry; Oven; Range / Stove; Refrigerator
• Bedrooms: Master bedroom (first level); Additional bedroom (first level)
• Flooring: Carpet; Tile; Vinyl; Wood
• Bathrooms: One full bathroom (first level) with bathtub
• Heating & cooling: Floor furnace (gas) with multiple heating units; Window cooling units (three or more)
• Interior features: Wood frame windows; Laminate counters; Gas range and gas oven connections; Decorative fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Inside utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 22.0% vs local median 4.7% in Bartlesville — 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 64/100 on livability (#175 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, crime D+.
• Bartlesville (town): math 30% / reading 29% proficiency, ranked #59 of 270 in OK (top 22%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 46 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($311 loan paydown + $4k appreciation (10.0% local appreciation)).
• Washington County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 $30k; list at $45k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,000

Questions for the listing agent

1. Built in 1921 — 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 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?
4. Crime grade is D 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: 2.55% ✓
• Cap rate: 22.01%
• Cash-on-cash: 56.15%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $82,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1206 S Armstrong Ave	0.27mi	2/1.0	1,125 (-3%)	4mo	$30,500	$27	79
213 W 12th	0.20mi	1/1.0 (-1)	1,124 (-3%)	9mo	$69,118	$61	73
1326 S Armstrong Ave	0.24mi	3/1.0 (+1)	1,232 (+6%)	6mo	$104,166	$85	69
1409 S Osage Ave	0.15mi	2/1.0	1,014 (-13%)	5mo	$94,995	$94	68
1635 S Maple Ave	0.61mi	2/1.0	1,192 (+3%)	2mo	$85,000	$71	65
1404 SW Jennings Ave	0.18mi	3/1.0 (+1)	1,272 (+10%)	7mo	$113,500	$89	65
1562 S Hickory Ave	0.60mi	3/1.0 (+1)	1,145 (-1%)	3mo	$47,000	$41	63
1600 S Elm Ave	0.69mi	3/1.0 (+1)	1,184 (+2%)	6mo	$84,000	$71	55
1429 S Oak	0.45mi	1/1.0 (-1)	1,074 (-7%)	9mo	$69,118	$64	54
1709 Osage	0.47mi	1/1.0 (-1)	1,064 (-8%)	9mo	$69,118	$65	52
1835 S Armstrong Ave	0.65mi	2/1.0	1,050 (-10%)	7mo	$110,900	$106	48
1701 S Dewey	0.44mi	3/2.0 (+1)	1,319 (+14%)	8mo	$80,000	$61	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.9%
• Equity multiple: 5.93×
• Total profit: $62,078
• Equity at exit: $40,540

10-year hold

• IRR: 62.6%
• Equity multiple: 13.17×
• Total profit: $153,323
• Equity at exit: $87,425

Cash invested: $12,600 (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 74003

• Home prices YoY: 5.0%
• Active inventory: 137
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,148 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$63 /mo · $755/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $590

Break-even live

Break-even rent $402

Max offer price $45,000

Occupancy floor 44%

Sensitivity live

Price	-10% $615	-5% $602	+0% $590	+5% $577	+10% $564
Rent	-10% $499	-5% $544	+0% $590	+5% $635	+10% $680
Rate	-1.0pp $612	-0.5pp $601	base $590	+0.5pp $578	+1.0pp $566

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
821 S Johnstone Ave Bartlesville, OK	1.0–2.0	1.0–2.0	888	$1,521	$1.71	24d	1	0.42mi

Listing history 6 events

1. 2026-06-19
   days on market $45,000 Active 4 DOM
2. 2026-06-18
   days on market $45,000 Active 3 DOM
3. 2026-06-17
   days on market $45,000 Active 2 DOM
4. 2026-06-17
   remarks 588-char remark
5. 2026-06-16
   remarks 582-char remark
6. 2026-06-16
   listed $45,000 Active 1 DOM

ⓘ 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: $755 · $63/mo
• Projected year-2 tax: $755 · $63/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 ≥112°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,780
• − Mortgage interest: −$2,521
• − Property taxes: −$755
• − Insurance: −$225
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$1,309
• Taxable income: $6,765
• Est. tax owed @ 24.0%: −$1,624
• After-tax cash flow: $5,451/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: Bartlesville
• NCES district ID: 4003630
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $48,889
• Composite: 25.69/100
• National rank: #7389
• State rank: #59 of 270 in OK

Livability — Bartlesville

• Score: 64/100
• State rank: #175
• US rank: #13940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bartlesville, OK
• County: Washington County · 41,935 people
• City population: 41,935
• Metro: Bartlesville, OK
• Population (ZIP): 14,024
• Household income: $47,168
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 395.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 54,946 people
• By 2030: 56,249 · +2.4%
• By 2040: 58,867 · +7.1%
• By 2050: 61,600 · +12.1%
• By 2075: 69,355 · +26.2%
• By 2100: 73,067 · +33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 14% Hispanic / Latino 7% Native American 7% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+47.6) · D 25.0% · R 72.7% · Other 2.4%
• 2008→2024 swing: -3.1pp toward R · 2008: -44.6pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+48.0 2016: R+48.5 2012: R+47.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.78%
• Current HPI: 309.9534
• Rent YoY: —
• Metro: Bartlesville, 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

+50.0% since first listed

4 events — show timeline

• 2026-06-15 Listed $45,000 MLS Technology, Inc.
• 2014-12-04 Listing Removed — MLS Technology, Inc.
• 2014-12-04 Listed $35,000 MLS Technology, Inc.
• 2014-12-01 Sold (MLS) $30,000 MLS Technology, Inc.

Property tax history

+11.4%/yr

Latest (2025): $755 · +1.8% YoY. Source: county tax records.