6203 E King St · Tulsa, OK 74115

$154,900

3 bd · 1.5 ba · 1,100 sqft · SingleFamily public records · 56 Days on market

Built 1951 8,568 sqft lot Est $177k · 13% under

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Why this score? — see what drove the D+ 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 +16.2/30.0
• ARV discount +13.1/15.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.6/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

Key facts

• Master suite
• Private half bath
• Storage shed

Tags

• GENEROUS BACKYARD
• STORAGE SHED
• MASTER SUITE
• PRIVATE HALF BATH
• SLIDING DOORS

Property features AI

Finance

• HOA & community: Gutters noted as a community feature

Exterior

• Parking: Attached garage (1 car); Carport
• Security: No safety shelter
• Utilities: Cable available; Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story home; Faces south; Crawlspace foundation
• Construction: Built according to public records; Block and vinyl siding construction; Asphalt/fiberglass roof
• Exterior features: Concrete driveway; Landscaping; Rain gutters; Covered porch; Porch; Shed(s); Chain link fencing; Corner lot; Fruit trees; Mature trees

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Master bedroom with private bath (first level); Two additional bedrooms without bath (first level)
• Flooring: Tile; Wood
• Bathrooms: One full bathroom (first level); One half bathroom (first level); Master bath with half bath features (first level)
• Heating & cooling: Gas heating with floor furnace; Window cooling units
• Interior features: Storm door(s); Laminate counters; Cable TV
• Laundry & utility: Utility room in garage (inside)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $82 ($988/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (16.0% below list).
• Recommended offer: $130k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.8% 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: 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.
• Zoned schools: Project Accept Traice Es (math 10% / reading 10%, grade F, #695 of 845 statewide, top 84%, 558 students, 0% FRL); Monroe Demonstration Ms (math 0% / reading 2%, grade F, #344 of 345 statewide, top 100%, 688 students, 0% FRL); Booker T. Washington Hs (math 41% / reading 61%, grade D+, #2 of 447 statewide, top 0%, 1,280 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+4.6%/yr); 89 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 35% of the median local income ($45k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 56 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $60k; list at $155k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $130,193 (16.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $177,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5926 E Newton Pl	0.41mi	3/1.0	1,128 (+2%)	1mo	$139,000	$123	74
524 N Norwood Ave	0.24mi	3/1.0	1,006 (-8%)	2mo	$185,000	$184	71
6837 E King Pl	0.53mi	4/2.0 (+1)	1,093 (-1%)	3mo	$175,000	$160	65
1333 N Irvington Ave	0.56mi	4/2.0 (+1)	1,133 (+3%)	1mo	$185,000	$163	62
6840 E King St	0.52mi	3/1.0	1,173 (+7%)	4mo	$148,000	$126	60
6710 E Independence Pl	0.39mi	4/1.0 (+1)	1,212 (+10%)	2mo	$138,000	$114	56
1332 N Irvington Ave	0.57mi	3/2.0	1,216 (+10%)	5mo	$216,900	$178	50
7138 E King Pl	0.67mi	3/1.0	996 (-10%)	4mo	$159,900	$161	48
1508 N Irvington Ave	0.70mi	3/2.0	974 (-12%)	1mo	$192,500	$198	46
5934 E 3rd St	0.73mi	3/1.0	1,224 (+11%)	2mo	$179,400	$147	44
9 S 69th EastAvenue	0.72mi	3/1.0	968 (-12%)	4mo	$149,900	$155	42
5908 E 2nd St	0.68mi	2/1.0 (-1)	939 (-15%)	4mo	$155,000	$165	34

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 · 4.57% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-17,824
• Equity at exit: $23,096

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-149
• Equity at exit: $13,393

Cash invested: $43,372 (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 74115

• Home prices YoY: -9.7%
• Rents YoY: 4.6%
• Active inventory: 89
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$812
• Tax from tax record: −$69 /mo · $832/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $82

Break-even live

Break-even rent $1,198

Max offer price $154,900

Occupancy floor 89%

Sensitivity live

Price	-10% $170	-5% $126	+0% $82	+5% $38	+10% $-5
Rent	-10% $-21	-5% $31	+0% $82	+5% $134	+10% $185
Rate	-1.0pp $160	-0.5pp $122	base $82	+0.5pp $42	+1.0pp $1

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 N Kingston Ave Tulsa, OK	4.0	1.0	1279	$1,350	$1.06	25d	1	0.51mi
917 N Yale Ave Tulsa, OK	1.0–2.0	1.0	725	$725	$1.00	25d	1	0.77mi
4703 E Latimer Pl Tulsa, OK	2.0	1.0	1103	$1,290	$1.17	5d	1	0.95mi
5347 E 5th St Tulsa, OK	3.0	1.0	1181	$1,600	$1.35	25d	1	1.05mi
6330 E 7th St Apt 12 Tulsa, OK	2.0	1.0	850	$1,025	$1.21	5d	1	1.20mi
43 S Toledo Ave Tulsa, OK	3.0	2.0	884	$1,650	$1.87	17d	1	1.23mi
839 N New Haven Ave Tulsa, OK	3.0	1.0	1238	$1,250	$1.01	25d	1	1.39mi
6938 E 10th St Unit 6944 Tulsa, OK	2.0	1.0	770	$850	$1.10	25d	1	1.44mi
728 N Marion Ave Tulsa, OK	3.0	2.0	1405	$1,305	$0.93	17d	1	1.49mi

Listing history 30 events

1. 2026-06-22
   days on market $154,900 Active 56 DOM
2. 2026-06-18
   days on market $154,900 Active 53 DOM
3. 2026-06-17
   days on market $154,900 Active 52 DOM
4. 2026-06-16
   days on market $154,900 Active 51 DOM
5. 2026-06-15
   days on market $154,900 Active 50 DOM
6. 2026-06-13
   days on market $154,900 Active 48 DOM
7. 2026-06-10
   days on market $154,900 Active 45 DOM
8. 2026-06-09
   days on market $154,900 Active 44 DOM
9. 2026-06-08
   days on market $154,900 Active 43 DOM
10. 2026-06-07
    days on market $154,900 Active 42 DOM
11. 2026-06-05
    days on market $154,900 Active 39 DOM
12. 2026-06-03
    days on market $154,900 Active 38 DOM
13. 2026-06-02
    days on market $154,900 Active 37 DOM
14. 2026-06-01
    days on market $154,900 Active 36 DOM
15. 2026-05-31
    days on market $154,900 Active 35 DOM
16. 2026-05-14
    price $154,900
17. 2026-04-26
    listed $158,500 Active
18. 2019-10-02
    soldstatus $60,000
19. 2019-09-30
    soldstatus $60,000 Closed 305-char remark

    Show marketing remark (305 chars)

    Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

20. 2019-08-30
    status Pending 305-char remark

    Show marketing remark (305 chars)

    Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

21. 2019-08-26
    price $62,500 305-char remark

    Show marketing remark (305 chars)

    Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

22. 2019-08-26
    status Active 305-char remark

    Show marketing remark (305 chars)

    Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

23. 2019-08-06
    status Pending 305-char remark

    Show marketing remark (305 chars)

    Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

24. 2019-07-03
    listed $65,000 Active 305-char remark

    Show marketing remark (305 chars)

    Well maintained home with lots of extras. Mature, fruit bearing trees. Large backyard with storage shed. 1 living areas. Master suite with it's own half bathroom with sliding glass doors to backyard. . Lots of space to enjoy. Easy access to schools, shopping, restaurants, downtown Tulsa & highways.

25. 2017-08-31
    soldstatus $49,900 Closed 259-char remark

    Show marketing remark (259 chars)

    Well maintained home with lots of potential. You'll love the 2 living areas & fully fenced big back yard on a corner lot. Covered parking plus the garage is perfect for the car guy or a growing family. Quick access to schools, shopping, & highways.

26. 2017-08-29
    soldstatus $50,000
27. 2017-07-28
    status Pending 259-char remark

    Show marketing remark (259 chars)

    Well maintained home with lots of potential. You'll love the 2 living areas & fully fenced big back yard on a corner lot. Covered parking plus the garage is perfect for the car guy or a growing family. Quick access to schools, shopping, & highways.

28. 2017-06-14
    price $49,900 259-char remark

    Show marketing remark (259 chars)

    Well maintained home with lots of potential. You'll love the 2 living areas & fully fenced big back yard on a corner lot. Covered parking plus the garage is perfect for the car guy or a growing family. Quick access to schools, shopping, & highways.

29. 2017-06-03
    price $60,000 259-char remark

    Show marketing remark (259 chars)

    Well maintained home with lots of potential. You'll love the 2 living areas & fully fenced big back yard on a corner lot. Covered parking plus the garage is perfect for the car guy or a growing family. Quick access to schools, shopping, & highways.

30. 2017-06-02
    listed $69,000 Active 259-char remark

    Show marketing remark (259 chars)

    Well maintained home with lots of potential. You'll love the 2 living areas & fully fenced big back yard on a corner lot. Covered parking plus the garage is perfect for the car guy or a growing family. Quick access to schools, shopping, & highways.

ⓘ 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: $832 · $69/mo
• Projected year-2 tax: $1,394 · $116/mo
• Expected delta: +$562/yr (+$47/mo · 67.6%)

ⓘ 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 ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,623
• − Mortgage interest: −$8,677
• − Property taxes: −$832
• − Insurance: −$774
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$4,506
• Taxable loss: −$1,666
• Est. tax savings @ 24.0%: +$400
• After-tax cash flow: $1,388/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): 24,297
• Household income: $44,608
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 805.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 44% White 33% Two or more races 19% Black 13% Native American 5%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 19% · Canada
• Languages at home: 57% English-only · Spanish 42%

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: ▼ -26.82%
• Current HPI: 251.0869
• Rent YoY: ▲ 4.57%
• 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

+124.5% since first listed

15 events — show timeline

• 2026-05-14 Price Changed $154,900 MLS Technology, Inc.
• 2026-04-26 Listed $158,500 MLS Technology, Inc.
• 2019-10-02 Sold (Public Records) $60,000 Public Records
• 2019-09-30 Sold (MLS) $60,000 MLS Technology, Inc.
• 2019-08-30 Pending — MLS Technology, Inc.
• 2019-08-26 Price Changed $62,500 MLS Technology, Inc.
• 2019-08-26 Relisted — MLS Technology, Inc.
• 2019-08-06 Pending — MLS Technology, Inc.
• 2019-07-03 Listed $65,000 MLS Technology, Inc.
• 2017-08-31 Sold (MLS) $49,900 MLS Technology, Inc.
• 2017-08-29 Sold (Public Records) $50,000 Public Records
• 2017-07-28 Pending — MLS Technology, Inc.
• 2017-06-14 Price Changed $49,900 MLS Technology, Inc.
• 2017-06-03 Price Changed $60,000 MLS Technology, Inc.
• 2017-06-02 Listed $69,000 MLS Technology, Inc.

Property tax history

+3.6%/yr

Latest (2025): $832 · +7.1% YoY. Source: county tax records.