2429 NW 109th St · Oklahoma City, OK 73120

$192,000

3 bd · 2.0 ba · 1,228 sqft · SingleFamily public records · 72 Days on market

Built 1963 8,398 sqft lot $156/sqft · 6% below area Est $219k · 12% 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).

• ARV discount +13.0/15.0
• Cash flow +11.6/30.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• 1% rule +3.0/10.0
• 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

Situated on a quiet corner, 2429 NW 109th St features a fireplace and a kitchen equipped with accent backsplash. The primary bathroom provides double sinks. The exterior includes a covered patio and a fenced in backyard. This property is a true gem, waiting for you to make it your own. Included 100-Day Home Warranty with buyer activation

Key facts

• Double sinks
• Fenced in backyard
• Covered patio

Tags

• STAINLESS STEEL APPLIANCES
• ACCENT BACKSPLASH
• DOUBLE SINKS
• COVERED PATIO
• FENCED IN BACKYARD
• FRESH INTERIOR PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $192k.

Deal economics

• At list price, monthly cash flow is $-59 ($-710/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (20.4% below list).
• Recommended offer: $153k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+2.0%/yr); 333 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $20k (9%) 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,795 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.80% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 10.5

CMA / ARV

• ARV (median comp): $218,797
• List price: $192,000
• Delta: -12.25%
• 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
10420 Ridgeview Dr	0.38mi	3/1.0	1,267 (+3%)	1mo	$285,000	$225	72
10708 Whitehaven Rd	0.33mi	3/1.5	1,149 (-6%)	3mo	$236,000	$205	69
10701 Whitehaven Dr	0.36mi	3/1.0	1,134 (-8%)	2mo	$200,500	$177	65
10504 Whitehaven Rd	0.43mi	3/2.0	1,128 (-8%)	3mo	$202,000	$179	64
10209 Lyndon Rd	0.64mi	3/2.0	1,200 (-2%)	3mo	$240,000	$200	64
2017 Plymouth Ln	0.52mi	3/2.0	1,326 (+8%)	2mo	$153,000	$115	61
2724 Lakeside Dr	0.67mi	3/2.0	1,306 (+6%)	0mo	$238,000	$182	58
2720 Northampton Pl	0.57mi	3/1.5	1,127 (-8%)	1mo	$228,000	$202	57
2309 Huntleigh Dr	0.59mi	3/2.0	1,319 (+7%)	4mo	$250,000	$190	57
2205 Gladstone Ter	0.66mi	3/1.5	1,327 (+8%)	3mo	$220,000	$166	51
2813 Kent Dr	0.73mi	3/2.0	1,348 (+10%)	1mo	$245,000	$182	49
2520 Kings Way	0.70mi	3/1.0	1,073 (-13%)	2mo	$130,000	$121	41

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 · 2.05% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-36,342
• Equity at exit: $28,628

10-year hold

• IRR: -14.3%
• Equity multiple: 0.21×
• Total profit: $-42,381
• Equity at exit: $16,601

Cash invested: $53,760 (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 73120

• Rents YoY: 2.0%
• Active inventory: 333
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,528 high
• Mortgage (P&I): −$1,007
• Tax from tax record: −$179 /mo · $2,153/yr
• Insurance: −$80
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-59

Break-even live

Break-even rent $1,603

Max offer price $181,547

Occupancy floor 99%

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: $48,000
• Closing costs: $5,760
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11007 Greystone Ave Oklahoma City, OK	2.0	2.0	1269	$1,500	$1.18	3d	1	0.12mi
10904 N Linn Ave Oklahoma City, OK	3.0	2.0	1452	$1,650	$1.14	43d	1	0.27mi
11239 N Pennsylvania Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	850	$1,155	$1.36	3d	30	0.37mi
2737 Plymouth Ln Oklahoma City, OK	3.0	1.5	1372	$1,395	$1.02	43d	1	0.50mi
11004 N May Ave Oklahoma City, OK	1.0–2.0	1.0–2.5	1129	$1,170	$1.04	11d	1	0.58mi
10412 Major Ave Oklahoma City, OK	3.0	2.0	1286	$1,750	$1.36	43d	1	0.71mi
11417 N May Ave Unit D Oklahoma City, OK	3.0	2.0	1275	$1,345	$1.05	2d	1	0.72mi
2000 Lanesboro Dr Oklahoma City, OK	3.0	2.0	1236	$1,550	$1.25	43d	1	0.75mi
2126 NW 118th St Oklahoma City, OK	2.0	2.5	1360	$1,445	$1.06	23d	1	0.76mi
9913 Sunnymeade Pl Oklahoma City, OK	3.0	1.5	1284	$1,695	$1.32	23d	1	0.76mi
2632 Kings Way Oklahoma City, OK	3.0	1.5	1496	$1,600	$1.07	43d	1	0.76mi
9909 Sunnymeade Pl Oklahoma City, OK	3.0	2.0	1325	$1,695	$1.28	1d	1	0.77mi
10104 Haverhill Pl Oklahoma City, OK	3.0	2.0	1188	$1,550	$1.30	14d	1	0.84mi
1800 NW 115th St Oklahoma City, OK	1.0–3.0	1.0–2.0	1019	$2,050	$2.01	2d	8	0.86mi
1720 Castle St Oklahoma City, OK	3.0	2.0	1428	$1,800	$1.26	43d	1	0.87mi
9519 Stratford Dr Oklahoma City, OK	3.0	1.0	1141	$1,450	$1.27	2d	1	0.98mi
10517 N McKinley Ave Oklahoma City, OK	3.0	1.5	1219	$1,695	$1.39	3d	1	0.99mi
10905 N Brauer Ave Oklahoma City, OK	3.0	1.5	1424	$1,505	$1.06	43d	1	1.03mi
1413 NW 106th St Oklahoma City, OK	3.0	2.0	1345	$1,495	$1.11	43d	1	1.04mi
2401 NW 122nd St Oklahoma City, OK	1.0–2.0	1.0–2.0	844	$899	$1.06	23d	1	1.09mi
2700 Indian Creek Blvd Oklahoma City, OK	1.0–3.0	1.0–2.0	1261	$1,549	$1.23	2d	5	1.11mi
9721 Georgia Ave Oklahoma City, OK	3.0	2.0	1442	$1,685	$1.17	3d	1	1.11mi
1301 W Hefner Rd Oklahoma City, OK	1.0–2.0	1.0–2.0	898	$1,310	$1.46	1d	14	1.13mi
1913 Downing St Oklahoma City, OK	2.0	1.0	940	$1,245	$1.32	2d	1	1.16mi
1913 Downing St Oklahoma City, OK	2.0	1.0	940	$1,245	$1.32	1d	1	1.16mi
2204 Downing St Oklahoma City, OK	2.0	1.0	750	$1,295	$1.73	19d	1	1.17mi
11204 Burnham Ave Oklahoma City, OK	3.0	2.0	1335	$1,545	$1.16	43d	1	1.18mi
11220 Burnham Ave Unit 11222 Oklahoma City, OK	3.0	2.0	1350	$1,600	$1.19	23d	1	1.18mi
12305 Cedar Springs Ln Oklahoma City, OK	2.0	2.5	1472	$1,250	$0.85	43d	1	1.19mi
2801 Croydon Ct Oklahoma City, OK	2.0	1.0	1102	$1,550	$1.41	2d	1	1.21mi
11141 Springhollow Rd Oklahoma City, OK	3.0	2.0	1330	$1,499	$1.13	23d	1	1.22mi
11508 University Oklahoma City, OK	3.0	2.0	1216	$1,645	$1.35	3d	1	1.22mi
11411 University Oklahoma City, OK	3.0	2.0	1216	$1,550	$1.27	17d	1	1.22mi
11141 Springhollow Rd Unit 251 Oklahoma City, OK	3.0	2.0	1330	$1,499	$1.13	21d	1	1.22mi
11141 Springhollow Rd Unit 208 Oklahoma City, OK	2.0	2.0	1088	$1,125	$1.03	43d	1	1.22mi
2611 Silvertree Dr Oklahoma City, OK	3.0	2.0	1500	$1,550	$1.03	43d	1	1.22mi
2216 Hasley Dr Oklahoma City, OK	2.0	1.0	750	$1,400	$1.87	20d	1	1.23mi
2216 Hasley Dr Oklahoma City, OK	2.0	1.0	750	$1,400	$1.87	43d	1	1.23mi
11415 University Oklahoma City, OK	3.0	2.0	1216	$1,545	$1.27	43d	1	1.23mi
11420 University Oklahoma City, OK	3.0	2.0	1216	$1,545	$1.27	43d	1	1.23mi

Listing history 20 events

1. 2026-06-18
   status $192,000 Pending 72 DOM
2. 2026-06-17
   days on market $192,000 Active 72 DOM
3. 2026-06-16
   days on market $192,000 Active 71 DOM
4. 2026-06-15
   days on market $192,000 Active 70 DOM
5. 2026-06-13
   days on market $192,000 Active 68 DOM
6. 2026-06-09
   days on market $192,000 Active 64 DOM
7. 2026-06-08
   days on market $192,000 Active 63 DOM
8. 2026-06-07
   statusdays on market $192,000 Active 62 DOM
9. 2026-05-07
   price $192,000 339-char remark

   Show marketing remark (339 chars)

   Situated on a quiet corner, 2429 NW 109th St features a fireplace and a kitchen equipped with accent backsplash. The primary bathroom provides double sinks. The exterior includes a covered patio and a fenced in backyard. This property is a true gem, waiting for you to make it your own. Included 100-Day Home Warranty with buyer activation

10. 2026-04-16
    price $200,000 339-char remark

    Show marketing remark (339 chars)

    Situated on a quiet corner, 2429 NW 109th St features a fireplace and a kitchen equipped with accent backsplash. The primary bathroom provides double sinks. The exterior includes a covered patio and a fenced in backyard. This property is a true gem, waiting for you to make it your own. Included 100-Day Home Warranty with buyer activation

11. 2026-03-23
    listed $212,000 Active 339-char remark

    Show marketing remark (339 chars)

    Situated on a quiet corner, 2429 NW 109th St features a fireplace and a kitchen equipped with accent backsplash. The primary bathroom provides double sinks. The exterior includes a covered patio and a fenced in backyard. This property is a true gem, waiting for you to make it your own. Included 100-Day Home Warranty with buyer activation

12. 2026-03-13
    soldstatus $205,000
13. 2016-04-28
    soldstatus $149,000 Sold 1024-char remark

    Show marketing remark (1024 chars)

    Hurry to see this wonderfully updated home in Casady Terrace! The kitchen was remodeled (2007) w/ Corian counter tops, new stainless steel appliances, & tile back splash! The Kitchen boasts laminate wood flooring, a pantry,French doors to the landscaped backyard, vaulted ceilings & it opens to the dining & living rooms. The dining area also has wood floors and a beautiful gas started fireplace. The living room feels open & airy w/ the vaulted ceilings and sunny window, nice wood floors & designer paint colors through out the home. The master bath is completely remodeled w/granite tops, double vanities, updated light and plumbing fixtures, new floor tile, walk in closet and a fresh new shower! The secondary beds are large and share a bath w a tub/shower combo.Roof/gutters (2012) H&A is overhead ('04), updated H2O tank,tilt-out windows, security system,one level,work shop, storage bldg, outdoor fire pit, pergula, plumbed for hot tub, landscaped yard, nice trees. Wonderful in every way!!!

14. 2016-03-30
    soldstatus $149,000
15. 2016-02-16
    status Pending 1024-char remark

    Show marketing remark (1024 chars)

    Hurry to see this wonderfully updated home in Casady Terrace! The kitchen was remodeled (2007) w/ Corian counter tops, new stainless steel appliances, & tile back splash! The Kitchen boasts laminate wood flooring, a pantry,French doors to the landscaped backyard, vaulted ceilings & it opens to the dining & living rooms. The dining area also has wood floors and a beautiful gas started fireplace. The living room feels open & airy w/ the vaulted ceilings and sunny window, nice wood floors & designer paint colors through out the home. The master bath is completely remodeled w/granite tops, double vanities, updated light and plumbing fixtures, new floor tile, walk in closet and a fresh new shower! The secondary beds are large and share a bath w a tub/shower combo.Roof/gutters (2012) H&A is overhead ('04), updated H2O tank,tilt-out windows, security system,one level,work shop, storage bldg, outdoor fire pit, pergula, plumbed for hot tub, landscaped yard, nice trees. Wonderful in every way!!!

16. 2016-02-04
    listed $154,000 Active 1024-char remark

    Show marketing remark (1024 chars)

    Hurry to see this wonderfully updated home in Casady Terrace! The kitchen was remodeled (2007) w/ Corian counter tops, new stainless steel appliances, & tile back splash! The Kitchen boasts laminate wood flooring, a pantry,French doors to the landscaped backyard, vaulted ceilings & it opens to the dining & living rooms. The dining area also has wood floors and a beautiful gas started fireplace. The living room feels open & airy w/ the vaulted ceilings and sunny window, nice wood floors & designer paint colors through out the home. The master bath is completely remodeled w/granite tops, double vanities, updated light and plumbing fixtures, new floor tile, walk in closet and a fresh new shower! The secondary beds are large and share a bath w a tub/shower combo.Roof/gutters (2012) H&A is overhead ('04), updated H2O tank,tilt-out windows, security system,one level,work shop, storage bldg, outdoor fire pit, pergula, plumbed for hot tub, landscaped yard, nice trees. Wonderful in every way!!!

17. 2003-06-07
    historical
18. 2003-06-04
    listed $81,000
19. 1993-08-07
    soldstatus $54,000
20. 1985-08-01
    soldstatus $65,500

ⓘ 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: $2,153 · $179/mo
• Projected year-2 tax: $2,153 · $179/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,335
• − Mortgage interest: −$10,755
• − Property taxes: −$2,153
• − Insurance: −$960
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$5,585
• Taxable loss: −$4,051
• Est. tax savings @ 24.0%: +$972
• After-tax cash flow: $262/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): 35,559
• Household income: $64,745
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 2029.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 21% Two or more races 11% Hispanic / Latino 7% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 1%

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: ▼ -279.69%
• Current HPI: 227.2832
• Rent YoY: ▲ 2.05%
• 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

+193.1% since first listed

12 events — show timeline

• 2026-05-07 Price Changed $192,000 MLSOK
• 2026-04-16 Price Changed $200,000 MLSOK
• 2026-03-23 Listed $212,000 MLSOK
• 2026-03-13 Sold (Public Records) $205,000 Public Records
• 2016-04-28 Sold (MLS) $149,000 MLSOK
• 2016-03-30 Sold (Public Records) $149,000 Public Records
• 2016-02-16 Pending — MLSOK
• 2016-02-04 Listed $154,000 MLSOK
• 2003-06-07 Listing Removed — MLSOK
• 2003-06-04 Listed $81,000 MLSOK
• 1993-08-07 Sold (Public Records) $54,000 Public Records
• 1985-08-01 Sold (Public Records) $65,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $2,153 · +4.2% YoY. Source: county tax records.