12738 S 121st East Ave · Broken Arrow, OK 74011

$225,000

3 bd · 1.5 ba · 1,272 sqft · SingleFamily public records · 85 Days on market

Built 1972 0.49 ac lot Est $225k · at est.

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Why this score? — see what drove the C 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Selling in AS-IS condition. Buyers to make own determinations regarding information. Seller requires proof of funds and/or lender letter plus earnest money with all offers submitted. Min 2% earnest cashiers/certified required upon contract acceptance.

Key facts

• Spacious yard
• Updated bathrooms
• Updated kitchen

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• UPDATED BATHROOMS
• EPOXY FLOORING
• SPACIOUS YARD
• MATURE TREES

Property features AI

Exterior

• Parking: Attached garage with 2 garage spaces
• Security: Safe room interior; Smoke detector(s)
• Utilities: Cable available; Electricity available; Natural gas available; High speed internet available; Water available; Well water; Septic tank
• Home design: Single-story home; Faces east; Slab foundation; Brick and wood siding with wood frame construction
• Construction: Built (year per public records); Asphalt/fiberglass roof
• Exterior features: Covered porch; Shed(s); Chain link full fencing; Mature trees

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range/Stove; Refrigerator; Eat-in kitchen
• Bedrooms: Master bedroom with private bath (first level); Additional bedrooms without attached baths (first level)
• Flooring: Laminate
• Bathrooms: One full hall bathroom with shower (first level); One half bath (first level); Master with private bath (first level)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Vinyl windows; Accessible full bathroom; Laminate flooring; Granite, quartz, and stone counters; Ceiling fan(s); Electric oven/range connection; High speed internet available
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (in garage)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: schools D+, amenities F.
• Bixby (suburban): math 39% / reading 36% proficiency, ranked #15 of 270 in OK (top 6%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.1%/yr); 381 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,818 units permitted in Tulsa County in 2024 (518 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 $7k 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 85 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 34y ago; this cycle's ask has dropped $55k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $225k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.01% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $225,144
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12738 S 121st East Ave	0.00mi	3/1.5	1,272 (0%)	0mo	$220,000	$173	100
12764 S 123rd East Ave	0.18mi	3/2.0	1,247 (-2%)	2mo	$250,000	$200	85
12838 S 121st East Ave	0.20mi	3/2.0	1,368 (+8%)	2mo	$225,000	$164	74
12915 S 120th EastPlace	0.16mi	3/2.0	1,397 (+10%)	6mo	$295,500	$212	69
12922 S 123rd East Ave Ave	0.23mi	3/1.5	1,424 (+12%)	9mo	$235,000	$165	62
13009 S 124th EastAvenue	0.35mi	3/2.0	1,453 (+14%)	8mo	$265,000	$182	52
12918 S 128th East Ave	0.48mi	3/2.0	1,426 (+12%)	14mo	$228,000	$160	44
7216 S Laurel Ave	0.70mi	3/2.0	1,411 (+11%)	17mo	$250,000	$177	33

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 · 4.09% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-9,122
• Equity at exit: $33,548

10-year hold

• IRR: 7.0%
• Equity multiple: 1.55×
• Total profit: $34,470
• Equity at exit: $19,454

Cash invested: $63,000 (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 74011

• Rents YoY: 4.1%
• Active inventory: 381
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,282 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$139 /mo · $1,669/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $390

Break-even live

Break-even rent $1,788

Max offer price $225,000

Occupancy floor 78%

Sensitivity live

Price	-10% $518	-5% $454	+0% $390	+5% $327	+10% $263
Rent	-10% $210	-5% $300	+0% $390	+5% $480	+10% $571
Rate	-1.0pp $504	-0.5pp $448	base $390	+0.5pp $332	+1.0pp $273

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4500 W Winston St Broken Arrow, OK	4.0	2.0	1812	$2,445	$1.35	2d	1	0.43mi
7211 S Laurel Pl Broken Arrow, OK	4.0	2.0	1851	$2,200	$1.19	4d	1	0.69mi
2430 W Imperial Ct Broken Arrow, OK	3.0	2.0	1726	$2,415	$1.40	2d	1	1.33mi
2420 W Imperial Ct Broken Arrow, OK	3.0	2.0	1726	$2,415	$1.40	2d	1	1.35mi
2421 W Imperial Ct Broken Arrow, OK	3.0	2.0	1726	$2,415	$1.40	2d	1	1.35mi
2602 W Tucson St Broken Arrow, OK	1.0–2.0	1.0–2.5	1028	$1,884	$1.83	2d	19	1.45mi

Listing history 11 events

1. 2026-05-12
   status Pending
2. 2026-05-05
   price $225,000
3. 2026-04-06
   price $235,000
4. 2026-03-14
   price $245,000
5. 2026-02-28
   price $265,000
6. 2026-02-15
   listed $280,000 Active
7. 2011-03-16
   soldstatus $63,000 251-char remark

   Show marketing remark (251 chars)

   Selling in AS-IS condition. Buyers to make own determinations regarding information. Seller requires proof of funds and/or lender letter plus earnest money with all offers submitted. Min 2% earnest cashiers/certified required upon contract acceptance.

8. 2011-01-25
   historical 251-char remark

   Show marketing remark (251 chars)

   Selling in AS-IS condition. Buyers to make own determinations regarding information. Seller requires proof of funds and/or lender letter plus earnest money with all offers submitted. Min 2% earnest cashiers/certified required upon contract acceptance.

9. 2010-09-03
   listed $69,900 251-char remark

   Show marketing remark (251 chars)

   Selling in AS-IS condition. Buyers to make own determinations regarding information. Seller requires proof of funds and/or lender letter plus earnest money with all offers submitted. Min 2% earnest cashiers/certified required upon contract acceptance.

10. 1992-03-06
    soldstatus $50,500
11. 1992-01-22
    listed $50,500

ⓘ 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: $1,669 · $139/mo
• Projected year-2 tax: $2,025 · $169/mo
• Expected delta: +$356/yr (+$30/mo · 21.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $27,389
• − Mortgage interest: −$12,603
• − Property taxes: −$1,669
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,191
• − Management: −$2,191
• − Depreciation: −$6,545
• Taxable income: $1,064
• Est. tax owed @ 24.0%: −$255
• After-tax cash flow: $4,429/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: Bixby
• NCES district ID: 4004500
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $75,727
• Composite: 34.9/100
• National rank: #5081
• State rank: #15 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

• County: Tulsa County · 640,811 people
• City population: 144,172
• Metro: Tulsa, OK
• Population (ZIP): 33,900
• Household income: $99,157
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 389.0

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 (68%)
• Race & ethnicity: White 68% Two or more races 15% Hispanic / Latino 10% Native American 4% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 3% Serbian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 5% Other Asian/Pacific 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: ▼ -180.15%
• Current HPI: 210.8302
• Rent YoY: ▲ 4.09%
• 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

+345.5% since first listed

11 events — show timeline

• 2026-05-12 Pending — MLS Technology, Inc.
• 2026-05-05 Price Changed $225,000 MLS Technology, Inc.
• 2026-04-06 Price Changed $235,000 MLS Technology, Inc.
• 2026-03-14 Price Changed $245,000 MLS Technology, Inc.
• 2026-02-28 Price Changed $265,000 MLS Technology, Inc.
• 2026-02-15 Listed $280,000 MLS Technology, Inc.
• 2011-03-16 Sold (MLS) $63,000 MLS Technology, Inc.
• 2011-01-25 Listing Removed — MLS Technology, Inc.
• 2010-09-03 Listed $69,900 MLS Technology, Inc.
• 1992-03-06 Sold (Public Records) $50,500 Public Records
• 1992-01-22 Listed $50,500 MLS Technology, Inc.

Property tax history

+4.6%/yr

Latest (2025): $1,669 · +8.0% YoY. Source: county tax records.