1123 S Newport Ave · Tulsa, OK 74120

$175,000

3 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 3 Days on market

Built 1930 7,500 sqft lot Est $243k · 28% under ↓ 3% since listing

---

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
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Midtown Bungalow with Potential! Discover the opportunity to create your own dream in this classic midtown bungalow. Offering 3 bedrooms, 1 bath and timeless charm. This home is perfect for those looking to invest, renovate or customize a space to their taste. Nestled in Tracy Park with quick access to shopping, dining, parks & major highways. Inside you'll find original details & a layout full of possibility. The home needs some TLC but with the right vision, it has all the makings of a cozy retreat or savvy investment. House being Sold As Is-No repairs by seller.

Key facts

• Brand new plumbing
• Brand new drywall
• Brand new roof

Tags

• INVESTMENT PROPERTY
• BRAND NEW HVAC
• BRAND NEW ELECTRIC
• BRAND NEW PLUMBING
• BRAND NEW ROOF
• BRAND NEW DRYWALL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• 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 (+1.2%/yr); 30 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 39% of the median local income ($68k/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.
• At projected returns (-3.0% appreciation + 1.2% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $115k; list at $175k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $175,000

Questions for the listing agent

1. Built in 1930 — 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: 1.26% ✓
• Cap rate: 10.76%
• Cash-on-cash: 15.95%
• DSCR: 1.71
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $242,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1123 S Newport Ave	0.00mi	3/2.0	1,472 (0%)	0mo	$200,000	$136	96
1227 S Quaker Ave	0.25mi	3/2.0	1,430 (-3%)	17mo	$281,000	$197	66
1139 S Quincy Ave	0.26mi	3/1.5	1,602 (+9%)	8mo	$110,000	$69	64
1136 S Rockford Ave	0.30mi	3/1.0	1,371 (-7%)	17mo	$135,000	$98	60
817 S Quaker Ave	0.26mi	3/3.0	1,516 (+3%)	23mo	$250,000	$165	56
1716 S Rockford Ave	0.71mi	2/2.0 (-1)	1,470 (-0%)	5mo	$421,000	$286	53
1739 E 13th Pl	0.73mi	2/1.0 (-1)	1,517 (+3%)	4mo	$240,000	$158	52
1524 E 13th St	0.42mi	3/1.0	1,633 (+11%)	15mo	$85,500	$52	50
1206 S Rockford Ave	0.31mi	4/3.0 (+1)	1,326 (-10%)	19mo	$185,500	$140	40
1523 S Trenton Ave	0.69mi	3/2.0	1,622 (+10%)	14mo	$382,500	$236	36
1620 S Trenton Ave	0.73mi	3/2.0	1,387 (-6%)	23mo	$345,000	$249	34
1720 E 14th St	0.73mi	3/2.0	1,655 (+12%)	13mo	$334,000	$202	31

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 · 1.21% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $9,180
• Equity at exit: $26,093

10-year hold

• IRR: 12.8%
• Equity multiple: 1.93×
• Total profit: $45,791
• Equity at exit: $15,131

Cash invested: $49,000 (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 74120

• Home prices YoY: -29.1%
• Rents YoY: 1.2%
• Active inventory: 30
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,207 high
• Mortgage (P&I): −$918
• Tax from tax record: −$102 /mo · $1,219/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$463
• Net cashflow: $651

Break-even live

Break-even rent $1,383

Max offer price $175,000

Occupancy floor 65%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1214 S Elgin Ave Unit 5 Tulsa, OK	2.0	1.0	1200	$1,450	$1.21	24d	1	0.24mi
624 S Peoria Ave Tulsa, OK	3.0	1.0–2.5	1521	$3,995	$2.63	2d	10	0.32mi
1201 S Rockford Ave Unit 7 Tulsa, OK	2.0	1.5	920	$875	$0.95	3d	1	0.35mi
1201 S Rockford Ave Unit 11 Tulsa, OK	2.0	1.5	920	$885	$0.96	24d	1	0.35mi
1411 S Quaker Ave Tulsa, OK	2.0	1.5–2.5	1200	$2,049	$1.71	15d	2	0.41mi
1428 S Quincy Ave Unit C Tulsa, OK	2.0	2.5	1756	$3,700	$2.11	3d	1	0.44mi
1616 S Peoria Ave #4 Tulsa, OK	2.0	2.5	1688	$1,900	$1.13	24d	1	0.60mi
401 S Elgin Ave Tulsa, OK	1.0–2.0	1.0–2.0	770	$1,499	$1.95	24d	3	0.63mi
6 E 5th St Tulsa, OK	1.0–2.0	1.0–2.0	1103	$2,500	$2.27	16d	4	0.72mi
6 E 5th St Unit 703 Tulsa, OK	2.0	2.0	962	$1,731	$1.80	21d	1	0.72mi
6 E 5th St Unit 105 Tulsa, OK	2.0	2.0	1361	$2,450	$1.80	21d	1	0.72mi
211 S Greenwood Ave Tulsa, OK	1.0–2.0	1.0–2.0	933	$2,344	$2.51	2d	3	0.74mi
420 S Main St Tulsa, OK	2.0	1.0–2.0	1291	$2,700	$2.09	2d	13	0.77mi
7125 N 220th RD Tulsa, OK	2.0	1.0–2.0	750	$2,800	$3.73	10d	37	0.78mi
9 E 4th St Tulsa, OK	3.0	1.0–2.0	894	$2,499	$2.80	2d	5	0.80mi
1000 S Denver Ave Tulsa, OK	1.0–2.0	1.0–2.0	940	$1,546	$1.64	2d	19	0.81mi
324 S Main St Tulsa, OK	1.0–2.0	1.0–2.0	757	$1,807	$2.39	2d	6	0.82mi
415 E 2nd St S Tulsa, OK	1.0–2.0	1.0–2.0	807	$2,180	$2.70	2d	28	0.83mi
1122 S Xanthus Pl Tulsa, OK	2.0	1.0	1000	$1,245	$1.25	3d	1	0.84mi
1515 S Carson Ave Tulsa, OK	2.0	1.5	1100	$2,200	$2.00	24d	1	0.84mi
406 S Boulder Ave Tulsa, OK	1.0–2.0	1.0–2.0	1082	$2,906	$2.69	16d	3	0.84mi
505 E 2nd St S Tulsa, OK	2.0	2.0	1087	$2,180	$2.01	3d	1	0.84mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1226	$2,870	$2.34	2d	4	0.86mi
310 E 1st St Tulsa, OK	1.0–2.0	1.0–2.0	1110	$2,870	$2.58	19d	5	0.86mi
403 S Cheyenne Ave Tulsa, OK	2.0	1.0–2.0	750	$1,799	$2.40	2d	8	0.88mi
1401 S Elwood Ave Tulsa, OK	3.0	1.0	1373	$1,850	$1.35	24d	1	0.91mi
1309 E 21st St Tulsa, OK	2.0	2.0	925	$1,250	$1.35	3d	2	0.94mi
420 E Archer St Tulsa, OK	1.0–2.0	1.0–2.5	1159	$3,646	$3.15	2d	30	0.99mi
2219 E 11th St Tulsa, OK	1.0–3.0	1.0–3.0	1136	$2,787	$2.45	2d	10	1.05mi
1736 S Xanthus Ave Tulsa, OK	2.0	1.0	1328	$1,450	$1.09	3d	1	1.07mi
2319 E 13th St Tulsa, OK	2.0	1.0	875	$1,400	$1.60	24d	1	1.07mi
1717 Riverside Dr Tulsa, OK	2.0	1.0–2.0	910	$2,201	$2.42	2d	22	1.08mi
1816 S Carson Ave Tulsa, OK	1.0–2.0	1.0–2.0	702	$1,400	$1.99	2d	13	1.10mi
2435 E 10th St Tulsa, OK	3.0	1.0	1040	$1,650	$1.59	3d	1	1.20mi
2509 E 7th St Tulsa, OK	3.0	2.0	1161	$1,815	$1.56	12d	1	1.29mi
1321 S Lawton Ave Tulsa, OK	2.0	2.0	1744	$1,623	$0.93	21d	1	1.32mi
1303 S Lawton Ave Tulsa, OK	2.0	2.0	1250	$1,575	$1.26	3d	1	1.32mi
119 E 26th St Tulsa, OK	3.0	2.0	1500	$2,200	$1.47	16d	1	1.32mi
1139 S Birmingham Ave Tulsa, OK	3.0	2.0	1725	$2,100	$1.22	24d	1	1.37mi
424 N Boulder Ave Tulsa, OK	1.0–3.0	1.0–2.5	1220	$3,699	$3.03	2d	62	1.38mi

Listing history 6 events

1. 2026-03-06
   status Pending
2. 2026-03-03
   listed $175,000 Active
3. 2025-10-23
   soldstatus $115,000
4. 2025-10-17
   soldstatus $115,000 Closed 593-char remark

   Show marketing remark (593 chars)

   Charming Midtown Bungalow with Potential! Discover the opportunity to create your own dream in this classic midtown bungalow. Offering 3 bedrooms, 1 bath and timeless charm. This home is perfect for those looking to invest, renovate or customize a space to their taste. Nestled in Tracy Park with quick access to shopping, dining, parks & major highways. Inside you'll find original details & a layout full of possibility. The home needs some TLC but with the right vision, it has all the makings of a cozy retreat or savvy investment. House being Sold As Is-No repairs by seller.

5. 2025-07-31
   status Pending 593-char remark

   Show marketing remark (593 chars)

   Charming Midtown Bungalow with Potential! Discover the opportunity to create your own dream in this classic midtown bungalow. Offering 3 bedrooms, 1 bath and timeless charm. This home is perfect for those looking to invest, renovate or customize a space to their taste. Nestled in Tracy Park with quick access to shopping, dining, parks & major highways. Inside you'll find original details & a layout full of possibility. The home needs some TLC but with the right vision, it has all the makings of a cozy retreat or savvy investment. House being Sold As Is-No repairs by seller.

6. 2025-07-28
   listed $180,000 Active 593-char remark

   Show marketing remark (593 chars)

   Charming Midtown Bungalow with Potential! Discover the opportunity to create your own dream in this classic midtown bungalow. Offering 3 bedrooms, 1 bath and timeless charm. This home is perfect for those looking to invest, renovate or customize a space to their taste. Nestled in Tracy Park with quick access to shopping, dining, parks & major highways. Inside you'll find original details & a layout full of possibility. The home needs some TLC but with the right vision, it has all the makings of a cozy retreat or savvy investment. House being Sold As Is-No repairs by seller.

ⓘ 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: $1,219 · $102/mo
• Projected year-2 tax: $1,575 · $131/mo
• Expected delta: +$356/yr (+$30/mo · 29.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $26,484
• − Mortgage interest: −$9,803
• − Property taxes: −$1,219
• − Insurance: −$875
• − Repairs & maintenance: −$2,119
• − Management: −$2,119
• − Depreciation: −$5,091
• Taxable income: $5,259
• Est. tax owed @ 24.0%: −$1,262
• After-tax cash flow: $6,553/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): 5,195
• Household income: $68,255
• Rent vs Own: 69.9% rent · 30.1% own
• Severe rent burden: 395.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 11% Two or more races 11% Native American 4% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Italian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Korean 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: ▼ -116.41%
• Current HPI: 283.1716
• Rent YoY: ▲ 1.21%
• 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

-2.8% since first listed

6 events — show timeline

• 2026-03-06 Pending — MLS Technology, Inc.
• 2026-03-03 Listed $175,000 MLS Technology, Inc.
• 2025-10-23 Sold (Public Records) $115,000 Public Records
• 2025-10-17 Sold (MLS) $115,000 MLS Technology, Inc.
• 2025-07-31 Pending — MLS Technology, Inc.
• 2025-07-28 Listed $180,000 MLS Technology, Inc.

Property tax history

+4.1%/yr

Latest (2025): $1,219 · +8.6% YoY. Source: county tax records.