1505 NE 24th St · Oklahoma City, OK 73111

$68,000

2 bd · 1.0 ba · 1,157 sqft · SingleFamily public records · 83 Days on market

Built 1915 6,752 sqft lot $59/sqft · 39% below area Est $111k · 39% under ↓ 3% since listing

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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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

Key facts

• 6,752 sq ft lot
• Garage
• Built 1915

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $64k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% 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 (+2.1%/yr); 81 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 32% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k 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 + 2.1% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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 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: 1.59% ✓
• Cap rate: 14.20%
• Cash-on-cash: 28.25%
• DSCR: 2.26
• GRM: 5.2

CMA / ARV

• ARV (median comp): $110,696
• List price: $68,000
• Delta: -38.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1600 E Madison St	0.15mi	3/1.0 (+1)	1,134 (-2%)	5mo	$95,000	$84	81
2204 N Jordan Ave	0.27mi	2/1.0	1,121 (-3%)	3mo	$57,500	$51	80
2715 N Missouri Ave	0.37mi	3/1.0 (+1)	1,141 (-1%)	6mo	$140,000	$123	70
2200 N Rhode Island Ave	0.35mi	3/1.0 (+1)	1,190 (+3%)	6mo	$154,900	$130	68
2131 N Jordan Ave	0.32mi	2/1.0	1,031 (-11%)	2mo	$88,000	$85	65
2221 N Lottie Ave	0.34mi	2/1.0	1,024 (-12%)	2mo	$45,000	$44	63
1435 NE 27th St	0.19mi	3/2.0 (+1)	1,275 (+10%)	6mo	$210,000	$165	60
2605 N Kate Ave	0.21mi	3/1.0 (+1)	1,320 (+14%)	2mo	$93,500	$71	60
2103 NE 26th St	0.64mi	3/1.0 (+1)	1,179 (+2%)	2mo	$110,000	$93	60
1637 NE 32nd St	0.53mi	3/1.5 (+1)	1,235 (+7%)	2mo	$157,900	$128	55
1744 NE 20th St	0.48mi	2/1.0	1,308 (+13%)	2mo	$114,999	$88	54
1450 NE 16th Ter	0.69mi	3/1.0 (+1)	1,096 (-5%)	4mo	$135,000	$123	51

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 · 2.13% rent growth · sell at horizon

5-year hold

• IRR: 21.5%
• Equity multiple: 1.87×
• Total profit: $16,573
• Equity at exit: $10,139

10-year hold

• IRR: 29.1%
• Equity multiple: 3.49×
• Total profit: $47,321
• Equity at exit: $5,879

Cash invested: $19,040 (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 73111

• Home prices YoY: -13.6%
• Rents YoY: 2.1%
• Active inventory: 81
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,080 high
• Mortgage (P&I): −$357
• Tax from tax record: −$20 /mo · $244/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $448

Break-even live

Break-even rent $513

Max offer price $68,000

Occupancy floor 54%

Sensitivity live

Price	-10% $487	-5% $468	+0% $448	+5% $429	+10% $410
Rent	-10% $363	-5% $406	+0% $448	+5% $491	+10% $534
Rate	-1.0pp $483	-0.5pp $466	base $448	+0.5pp $431	+1.0pp $413

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1439 NE 24th St Oklahoma City, OK	3.0	1.0	874	$1,025	$1.17	16d	1	0.08mi
1438 NE 27th St Oklahoma City, OK	3.0	1.0	736	$1,000	$1.36	44d	1	0.18mi
2709 N Fonshill Ave Oklahoma City, OK	2.0	1.0	949	$1,100	$1.16	24d	1	0.21mi
1401 NE 22nd St Oklahoma City, OK	2.0	1.0	728	$1,100	$1.51	24d	1	0.22mi
1812 NE 24th St Oklahoma City, OK	3.0	1.0	1071	$1,175	$1.10	3d	1	0.26mi
2908 N Fonshill Ave Oklahoma City, OK	3.0	2.0	1325	$1,225	$0.92	44d	1	0.26mi
1427 NE 28th St Oklahoma City, OK	1.0	1.0	876	$695	$0.79	44d	1	0.27mi
2312 N Everest Ave Oklahoma City, OK	3.0	1.0	1100	$1,299	$1.18	44d	1	0.34mi
1904 NE 25th St Oklahoma City, OK	2.0	1.0	939	$950	$1.01	4d	1	0.37mi
1921 NE 25th St Unit 3 Oklahoma City, OK	2.0	1.0	900	$875	$0.97	20d	1	0.41mi
1931 NE 25th St Unit 10 Oklahoma City, OK	2.0	1.0	900	$875	$0.97	24d	1	0.43mi
2225 Glen Ellyn St Oklahoma City, OK	2.0	1.0	1095	$925	$0.84	44d	1	0.44mi
1722 NE 20th St Oklahoma City, OK	2.0	1.0	800	$1,070	$1.34	44d	1	0.44mi
1727 NE 19th St Oklahoma City, OK	3.0	1.0	892	$995	$1.12	44d	1	0.48mi
1637 Bishop Bobby L Williams Dr Oklahoma City, OK	2.0	1.0	820	$1,150	$1.40	44d	1	0.48mi
2148 N Stonewall Ave Oklahoma City, OK	2.0	1.0	1055	$875	$0.83	4d	1	0.50mi
1609 NE 18th St Oklahoma City, OK	2.0	1.0	899	$900	$1.00	4d	1	0.50mi
2128 N Stonewall Ave Unit 1 Oklahoma City, OK	2.0	1.0	960	$800	$0.83	3d	1	0.52mi
1801 N Jordan Ave Oklahoma City, OK	2.0	1.0	1080	$1,000	$0.93	15d	1	0.57mi
2300 Granada Blvd Oklahoma City, OK	3.0	1.0	999	$1,000	$1.00	12d	1	0.63mi
2020 NE 30th St Oklahoma City, OK	3.0	1.0	1056	$1,150	$1.09	44d	1	0.64mi
1220 NE 17th St Oklahoma City, OK	2.0	1.0	1100	$1,195	$1.09	44d	1	0.65mi
1621 NE 33rd St Oklahoma City, OK	3.0	2.0	1500	$1,975	$1.32	44d	1	0.65mi
2112 NE 23rd St Oklahoma City, OK	3.0	1.0	1117	$1,070	$0.96	17d	1	0.66mi
1200 NE 17th St Unit B Oklahoma City, OK	2.0	1.0	1002	$2,100	$2.10	44d	1	0.67mi
1450 NE 16th Ter Oklahoma City, OK	3.0	1.0	1096	$1,295	$1.18	44d	1	0.67mi
2107 Hardin Dr Oklahoma City, OK	3.0	1.0	999	$875	$0.88	44d	1	0.68mi
1701 NE 34th St Oklahoma City, OK	2.0	1.5	900	$1,000	$1.11	44d	1	0.73mi
2200 Hardin Dr Oklahoma City, OK	3.0	1.0	1091	$1,025	$0.94	44d	1	0.77mi
2132 NE 19th St Oklahoma City, OK	2.0	1.0	850	$950	$1.12	44d	1	0.78mi
2143 NE 19th St Oklahoma City, OK	2.0	1.0	1265	$945	$0.75	44d	1	0.79mi
943 East Dr Oklahoma City, OK	1.0	1.0	900	$995	$1.11	4d	1	0.80mi
939 East Dr Oklahoma City, OK	2.0	1.0	1039	$1,100	$1.06	24d	1	0.81mi
736 NE 26th St Oklahoma City, OK	2.0	1.0	927	$1,050	$1.13	3d	1	0.82mi
2313 NE 23rd St Oklahoma City, OK	3.0	2.5	1500	$1,095	$0.73	44d	1	0.85mi
1444 NE 13th St Unit 1446 Oklahoma City, OK	2.0	2.0	1167	$1,199	$1.03	17d	1	0.85mi
935 NE 16th St Oklahoma City, OK	1.0	1.0	727	$795	$1.09	44d	1	0.86mi
714 NE 27th St Unit 4 Oklahoma City, OK	2.0	1.0	950	$845	$0.89	24d	1	0.87mi
2308 NE 21st St Oklahoma City, OK	3.0	1.0	1400	$1,250	$0.89	3d	1	0.88mi
2132 Miramar Blvd Oklahoma City, OK	2.0	1.0	768	$800	$1.04	3d	1	0.96mi

Listing history 7 events

1. 2026-05-08
   status Pending 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

2. 2026-03-30
   price $68,000 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

3. 2026-02-26
   status Active 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

4. 2026-02-05
   status Pending 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

5. 2026-02-02
   status Active 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

6. 2026-01-23
   status Pending 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

7. 2026-01-14
   listed $70,000 Active 238-char remark

   Show marketing remark (238 chars)

   Calling all investors and opportunity buyers. Excellent fix-and-flip or buy-and-hold opportunity. 3-bedroom, 1-bath home with 1,157 sq ft, located less than 10 minutes from Downtown Oklahoma City. Sold AS-IS, WHERE-IS. All offers welcome.

ⓘ 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: $244 · $20/mo
• Projected year-2 tax: $612 · $51/mo
• Expected delta: +$368/yr (+$31/mo · 151.0%)

ⓘ 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 5/10 Major 6 d/yr ≥107°F today · 17 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: $12,965
• − Mortgage interest: −$3,809
• − Property taxes: −$244
• − Insurance: −$340
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$1,978
• Taxable income: $4,520
• Est. tax owed @ 24.0%: −$1,085
• After-tax cash flow: $4,295/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): 10,727
• Household income: $40,340
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 804.0

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: Predominantly Black (76%)
• Race & ethnicity: Black 76% White 13% Two or more races 7% Hispanic / Latino 6% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▼ -34.64%
• Current HPI: 220.6395
• Rent YoY: ▲ 2.13%
• 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

-2.9% since first listed

7 events — show timeline

• 2026-05-08 Pending — MLSOK
• 2026-03-30 Price Changed $68,000 MLSOK
• 2026-02-26 Relisted — MLSOK
• 2026-02-05 Pending — MLSOK
• 2026-02-02 Relisted — MLSOK
• 2026-01-23 Pending — MLSOK
• 2026-01-14 Listed $70,000 MLSOK

Property tax history

+11.1%/yr

Latest (2025): $244 · +4.1% YoY. Source: county tax records.