9902 N 43rd Ave E

Tulsa, OK 74073

$217,900D-

3 bd · 2.0 ba · 1,182 sqft · Built 1997 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,640/mo
• Mortgage (P&I): −$1,143
• Tax + insurance: −$307
• HOA: −$46
• Vac / Maint / Mgmt: −$344
• Net cashflow: $-200/mo
• Annual: $-2,402/yr
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• 1% rule: 0.75%
• Cash to close: $61,012

Investor read

• This is a 3-bed/2.0-bath single-family listed at $218k.
• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $183k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (24.7% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $164k (24.7% below list) — sets the bar for 1% rule.
• In year one you build about $19k of equity ($2k loan paydown + $17k appreciation (7.9% local appreciation)).
• 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-.
• Sperry (rural): math 21% / reading 26% proficiency, ranked #114 of 270 in OK (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 62 active listings in the ZIP; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• Tulsa County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 8 sale attempts since 28y 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 $140k; list at $218k implies a 56% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% 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.

Questions for listing agent

• 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.