20938 E 35th Pl S · Broken Arrow, OK 74014

$255,000

4 bd · 2.0 ba · 2,064 sqft · SingleFamily public records · 36 Days on market

Built 1980 0.50 ac lot Est $332k · 23% 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 +15.0/15.0
• Cash flow +12.4/30.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is knocking in the heart of Broken arrow! This 4 bedroom, 2.5 bath home built in 1980 is ready for its next chapter and packed with potential for the right buyer with vision. Selling AS IS this property offers solid major system updates where it counts. Including new roof in 2024, new AC unit in 2019 and a new hot water tank just installed! Inside you will find generous living space a functional layout, and plenty of opportunity to customize, renovate or invest. Whether you're looking to create your dream home or add value to your portfolio, this one has the bones and the big ticket improvements to get you started. BRING your ideas, your toolbox and maybe your pinterest board, b

Key facts

• 0.5 acre lot
• 2 garage spots
• Built 1980

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Security: No safety shelter
• Utilities: Cable available; Electricity available; Fiber optic available; Natural gas available; Public water; Public sewer
• Home design: Single-story; Faces north; Slab foundation
• Construction: Brick and wood-frame construction; Asphalt/fiberglass roof; Built (year per public records)
• Exterior features: Concrete driveway; Covered porch; Shed(s); Chain link fencing

Interior

• Kitchen: Built-in oven; Oven; Range / Stove; Dishwasher
• Flooring: Carpet; Concrete; Laminate; Tile
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: High-speed internet available; Laminate counters; Ceiling fans; Aluminum-framed windows
• Laundry & utility: Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-43 ($-510/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (2.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (21.7% below list).
• Recommended offer: $200k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.0% in Broken Arrow — 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 78/100 on livability (#7 in OK, #2,691 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Broken Arrow (suburban): math 23% / reading 28% proficiency, ranked #79 of 270 in OK (top 29%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Country Lane Intermediate Es (math 31% / reading 32%, grade F, #241 of 845 statewide, top 29%, 747 students, 0% FRL); Centennial Ms (math 19% / reading 26%, grade F, #122 of 345 statewide, top 37%, 1,121 students, 0% FRL); Broken Arrow Hs (math 22% / reading 36%, grade F, #120 of 447 statewide, top 27%, 4,589 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.1%/yr); 655 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 581 units permitted in Wagoner County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Wagoner County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,682 (21.7% 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 36 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-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. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.71%
• DSCR: 0.97
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $332,304
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20471 E 35th Pl S	0.37mi	4/2.0	2,019 (-2%)	0mo	$309,000	$153	79
3386 S 208th EastAvenue	0.22mi	4/2.0	1,887 (-9%)	2mo	$290,000	$154	74
3309 E Hudson St	0.47mi	3/2.0 (-1)	1,953 (-5%)	1mo	$314,000	$161	64
3309 E Irvington St	0.44mi	3/2.0 (-1)	1,921 (-7%)	2mo	$311,000	$162	62
6207 N 30th St	0.68mi	4/2.0	2,150 (+4%)	1mo	$342,738	$159	60
6117 N 30th St	0.68mi	4/2.0	1,950 (-6%)	1mo	$367,528	$188	59
2920 E Portland Pl	0.73mi	4/2.5	2,123 (+3%)	3mo	$412,000	$194	57
3296 S 201st EastAvenue	0.65mi	3/2.0 (-1)	2,151 (+4%)	3mo	$350,000	$163	56
3920 S 210th EastAvenue	0.33mi	3/2.0 (-1)	1,773 (-14%)	3mo	$257,500	$145	54
20527 E 31st Pl S	0.52mi	3/2.0 (-1)	1,849 (-10%)	0mo	$270,000	$146	53
3955 S 217th EastAvenue	0.61mi	3/2.5 (-1)	2,217 (+7%)	3mo	$300,000	$135	50
5405 N 31st St	0.66mi	4/2.0	1,830 (-11%)	1mo	$310,000	$169	50

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 · 2.12% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-45,839
• Equity at exit: $38,021

10-year hold

• IRR: -12.5%
• Equity multiple: 0.29×
• Total profit: $-50,700
• Equity at exit: $22,048

Cash invested: $71,400 (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 74014

• Rents YoY: 2.1%
• Active inventory: 655
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,997 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$176 /mo · $2,118/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-43

Break-even live

Break-even rent $2,051

Max offer price $247,490

Occupancy floor 97%

Sensitivity live

Price	-10% $102	-5% $30	+0% $-43	+5% $-115	+10% $-187
Rent	-10% $-200	-5% $-121	+0% $-43	+5% $36	+10% $115
Rate	-1.0pp $86	-0.5pp $22	base $-43	+0.5pp $-109	+1.0pp $-176

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3503 E Hudson St Unit (3503) Broken Arrow, OK	4.0	2.0	1996	$1,495	$0.75	3d	1	0.39mi
4915 N 36th St Broken Arrow, OK	4.0	2.0	1739	$1,940	$1.12	21d	1	0.71mi
20241 E 43rd Pl S Broken Arrow, OK	4.0	2.0	1746	$2,028	$1.16	3d	1	0.92mi

Listing history 11 events

1. 2026-06-13
   statusdays on market $255,000 Pending 36 DOM
2. 2026-06-10
   days on market $255,000 Active 34 DOM
3. 2026-06-09
   days on market $255,000 Active 33 DOM
4. 2026-06-08
   days on market $255,000 Active 32 DOM
5. 2026-06-07
   days on market $255,000 Active 31 DOM
6. 2026-06-05
   days on market $255,000 Active 28 DOM
7. 2026-06-03
   days on market $255,000 Active 27 DOM
8. 2026-06-02
   days on market $255,000 Active 26 DOM
9. 2026-06-01
   days on market $255,000 Active 25 DOM
10. 2026-05-31
    days on market $255,000 Active 24 DOM
11. 2026-05-07
    listed $260,000 Active

ⓘ 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: $2,118 · $176/mo
• Projected year-2 tax: $2,295 · $191/mo
• Expected delta: +$177/yr (+$15/mo · 8.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $23,962
• − Mortgage interest: −$14,284
• − Property taxes: −$2,118
• − Insurance: −$1,275
• − Repairs & maintenance: −$1,917
• − Management: −$1,917
• − Depreciation: −$7,418
• Taxable loss: −$4,967
• Est. tax savings @ 24.0%: +$1,192
• After-tax cash flow: $682/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: Broken Arrow
• NCES district ID: 4005490
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 28% ▼ -9.00%
• Median HH income: $64,646
• Composite: 23.86/100
• National rank: #7801
• State rank: #79 of 270 in OK

Livability — Broken Arrow

• Score: 78/100
• State rank: #7
• US rank: #2691

Category grades

Amenities F Commute A+ Cost of living A+ Crime B+ Employment B+ Housing A+ Health & safety C+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broken Arrow, OK
• County: Wagoner County · 61,834 people
• City population: 144,172
• Metro: Tulsa, OK
• Population (ZIP): 45,212
• Household income: $95,501
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 289.0

Population outlook (Wagoner County) Hauer SSP2

• Today (2025): 84,796 people
• By 2030: 88,162 · +4.0%
• By 2040: 93,882 · +10.7%
• By 2050: 98,219 · +15.8%
• By 2075: 106,561 · +25.7%
• By 2100: 109,360 · +29.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Two or more races 11% Hispanic / Latino 11% Native American 6% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 7% Other Asian/Pacific 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Wagoner

• 2024 margin: Solid R (+49.8) · D 24.2% · R 74.0% · Other 1.8%
• 2008→2024 swing: -8.0pp toward R · 2008: -41.8pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+50.1 2016: R+52.0 2012: R+45.7 2008: R+41.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -206.67%
• Current HPI: 203.7301
• Rent YoY: ▲ 2.12%
• 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

1 event — show timeline

• 2026-05-07 Listed $260,000 MLS Technology, Inc.

Property tax history

+3.3%/yr

Latest (2025): $2,118 · +3.4% YoY. Source: county tax records.