5409 S Land Ave · Oklahoma City, OK 73119

$145,000

3 bd · 2.0 ba · 1,271 sqft · SingleFamily public records · 95 Days on market

Built 1960 7,501 sqft lot $114/sqft · 10% above area Est $174k · 17% 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).

• Cash flow +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and spacious home located just minutes from I-240, I-44, and Will Rogers Airport, offering 3 bedrooms, 2 bathrooms, and 3 living areas for flexible living. The layout features a large kitchen that opens to the dining space, creating an inviting feel for everyday living and entertaining, along with a cozy fireplace and beautiful wood mantle. A major highlight is the 720 sq ft detached garage—equivalent to a 3-car garage—with its own electric meter, central heat, window air, and 220V power, perfect for a workshop or additional storage. Key updates include a roof approximately 8 years old, HVAC system updated within the last 5 years, and a complete sewer line replacement 2 years ago, along with an updated electrical panel and meter. This home offers a great combination of space, functionality, and opportunity for its next owner to make it their own.

Key facts

• Large kitchen
• Cozy fireplace
• Detached garage

Tags

• DETACHED GARAGE
• COZY FIREPLACE
• LARGE KITCHEN
• UPDATED ELECTRICAL PANEL

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-77 ($-919/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (12.7% below list).
• Recommended offer: $127k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: 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.
• Zoned schools: Arthur Es (math 2% / reading 8%, grade F, #766 of 845 statewide, top 94%, 389 students, 0% FRL); Classen Ms of Advanced Studies (math 35% / reading 46%, grade F, #6 of 345 statewide, top 1%, 855 students, 0% FRL); U. S. Grant Hs (math 2% / reading 7%, grade F, #442 of 447 statewide, top 99%, 1,594 students, 0% FRL) — zoned schools average 0% FRL vs 82% district-wide (82 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.1%/yr); 95 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 33% of the median local income ($45k/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 $4k 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 95 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $145k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,573 (12.7% 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 95 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.87% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.5

CMA / ARV

• ARV (median comp): $173,994
• List price: $145,000
• Delta: -16.66%
• 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
5305 S Drexel Ave	0.21mi	3/1.0	1,200 (-6%)	9mo	$159,500	$133	69
3018 SW 56 St	0.14mi	3/1.0	1,102 (-13%)	4mo	$119,900	$109	64
3009 SW 61st St	0.55mi	3/2.0	1,193 (-6%)	2mo	$170,000	$142	62
2701 SW 52nd St	0.59mi	3/1.0	1,224 (-4%)	1mo	$125,000	$102	62
3025 SW 64th Ter	0.73mi	3/1.5	1,225 (-4%)	0mo	$170,000	$139	57
2825 SW 62nd St	0.71mi	4/1.0 (+1)	1,298 (+2%)	1mo	$92,000	$71	54
2733 SW 54th Pl	0.47mi	4/1.0 (+1)	1,411 (+11%)	7mo	$165,000	$117	45
2721 SW 51st St	0.56mi	3/1.0	1,134 (-11%)	12mo	$150,000	$132	41
3013 SW 60th St	0.48mi	4/2.0 (+1)	1,456 (+15%)	12mo	$193,780	$133	38
3109 SW 46th St	0.60mi	3/1.0	1,124 (-12%)	13mo	$155,000	$138	38
2808 Texoma Dr	0.58mi	3/1.0	1,115 (-12%)	14mo	$155,000	$139	37
2753 SW 46th Pl	0.73mi	3/1.0	1,086 (-15%)	8mo	$163,500	$151	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 · 1.13% rent growth · sell at horizon

5-year hold

• IRR: -22.3%
• Equity multiple: 0.25×
• Total profit: $-30,646
• Equity at exit: $21,620

10-year hold

• IRR: -22.2%
• Equity multiple: -0.03×
• Total profit: $-41,943
• Equity at exit: $12,537

Cash invested: $40,600 (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 73119

• Home prices YoY: -14.4%
• Rents YoY: 1.1%
• Active inventory: 95
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,266 high
• Mortgage (P&I): −$760
• Tax from tax record: −$130 /mo · $1,566/yr
• Insurance: −$60
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-77

Break-even live

Break-even rent $1,363

Max offer price $131,474

Occupancy floor —

Sensitivity live

Price	-10% $6	-5% $-36	+0% $-77	+5% $-118	+10% $-159
Rent	-10% $-177	-5% $-127	+0% $-77	+5% $-27	+10% $23
Rate	-1.0pp $-4	-0.5pp $-40	base $-77	+0.5pp $-114	+1.0pp $-152

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2945 SW 54th St Oklahoma City, OK	3.0	1.5	1424	$1,295	$0.91	45d	1	0.20mi
5305 S Drexel Ave Oklahoma City, OK	4.0	1.0	1250	$1,199	$0.96	19d	1	0.23mi
5617 S May Ave Oklahoma City, OK	1.0–3.0	1.5	1000	$926	$0.93	25d	1	0.26mi
2741 SW 54th Pl Oklahoma City, OK	3.0	2.0	1059	$1,249	$1.18	3d	1	0.44mi
2814 SW 59th St Oklahoma City, OK	2.0	1.5	1150	$1,085	$0.94	45d	1	0.48mi
2824 SW 59th St Oklahoma City, OK	2.0	2.0	1150	$1,085	$0.94	25d	1	0.53mi
2824 SW 59th St Oklahoma City, OK	2.0	2.0	1150	$1,085	$0.94	45d	1	0.53mi
2641 SW 57th St Oklahoma City, OK	3.0	1.5	1269	$1,320	$1.04	45d	1	0.58mi
2629 SW 56th St Oklahoma City, OK	3.0	2.5	1776	$1,550	$0.87	45d	1	0.59mi
2629 SW 56th St Oklahoma City, OK	3.0	3.0	1776	$1,550	$0.87	13d	1	0.59mi
2741 SW Murray Dr Oklahoma City, OK	3.0	1.0	949	$1,395	$1.47	3d	1	0.62mi
2908 SW 62nd St Oklahoma City, OK	3.0	1.5	936	$1,450	$1.55	4d	1	0.68mi
2813 SW 62nd St Oklahoma City, OK	3.0	1.5	1001	$1,400	$1.40	25d	1	0.69mi
2500 SW 48th St Oklahoma City, OK	2.0	1.0	1096	$1,050	$0.96	45d	1	0.91mi
2400 SW 53rd St Oklahoma City, OK	4.0	1.5	1440	$1,400	$0.97	13d	1	0.92mi
3705 SW 44th St Oklahoma City, OK	3.0	2.0	1224	$1,541	$1.26	4d	1	1.05mi
3041 SW 40th Pl Oklahoma City, OK	3.0	2.0	1524	$1,550	$1.02	4d	1	1.05mi
2759 W I 240 Service Rd Oklahoma City, OK	1.0–2.0	1.0–1.5	725	$924	$1.27	5d	4	1.12mi
5609 S Rockwood Ave Oklahoma City, OK	3.0	1.0	1198	$1,075	$0.90	25d	1	1.13mi
2612 SW 41st St Oklahoma City, OK	3.0	1.0	1164	$1,200	$1.03	25d	1	1.15mi
2208 SW 61st Ter Oklahoma City, OK	4.0	1.0	1350	$1,880	$1.39	45d	1	1.22mi
2640 SW 38th St Oklahoma City, OK	3.0	2.0	944	$1,050	$1.11	4d	1	1.28mi
2600 W I 240 Service Rd Oklahoma City, OK	2.0	2.0	1240	$1,099	$0.89	5d	1	1.30mi
2600 W I 240 Service Rd Oklahoma City, OK	3.0	2.5	1420	$1,299	$0.91	23d	1	1.30mi
2120 SW 61st St Oklahoma City, OK	3.0	1.0	1101	$1,200	$1.09	45d	1	1.31mi
2600 W Interstate 240 Service Rd Unit 2648 Oklahoma City, OK	2.0	2.5	1161	$1,099	$0.95	45d	1	1.37mi
2600 W Interstate 240 Service Rd Unit 2729 Oklahoma City, OK	2.0	1.5	1056	$999	$0.95	25d	1	1.37mi
2600 W Interstate 240 Service Rd Unit 2551 Oklahoma City, OK	2.0	2.5	1161	$1,099	$0.95	5d	1	1.37mi
2600 W Interstate 240 Service Rd Unit 2544 Oklahoma City, OK	3.0	2.5	1420	$1,299	$0.91	45d	1	1.37mi
2600 W Interstate 240 Service Rd Unit 2701-E Oklahoma City, OK	2.0	2.0	1240	$1,099	$0.89	45d	1	1.37mi
2600 W Interstate 240 Service Rd Unit 2731 Oklahoma City, OK	2.0	1.5	1056	$999	$0.95	45d	1	1.37mi
2600 W Interstate 240 Service Rd Unit 2751 Oklahoma City, OK	4.0	3.0	1738	$1,600	$0.92	25d	1	1.37mi
4330 S Barnes Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	860	$1,099	$1.28	5d	9	1.47mi

Listing history 26 events

1. 2026-06-21
   days on market $145,000 Active 95 DOM
2. 2026-06-18
   days on market $145,000 Active 92 DOM
3. 2026-06-17
   days on market $145,000 Active 91 DOM
4. 2026-06-16
   days on market $145,000 Active 90 DOM
5. 2026-06-15
   days on market $145,000 Active 89 DOM
6. 2026-06-13
   days on market $145,000 Active 87 DOM
7. 2026-06-09
   days on market $145,000 Active 83 DOM
8. 2026-06-08
   days on market $145,000 Active 82 DOM
9. 2026-06-07
   days on market $145,000 Active 81 DOM
10. 2026-06-05
    days on market $145,000 Active 78 DOM
11. 2026-06-03
    days on market $145,000 Active 77 DOM
12. 2026-06-02
    days on market $145,000 Active 76 DOM
13. 2026-06-01
    days on market $145,000 Active 75 DOM
14. 2026-05-31
    pricedays on market $145,000 Active 74 DOM
15. 2026-05-05
    price $147,000 879-char remark

    Show marketing remark (879 chars)

    Charming and spacious home located just minutes from I-240, I-44, and Will Rogers Airport, offering 3 bedrooms, 2 bathrooms, and 3 living areas for flexible living. The layout features a large kitchen that opens to the dining space, creating an inviting feel for everyday living and entertaining, along with a cozy fireplace and beautiful wood mantle. A major highlight is the 720 sq ft detached garage—equivalent to a 3-car garage—with its own electric meter, central heat, window air, and 220V power, perfect for a workshop or additional storage. Key updates include a roof approximately 8 years old, HVAC system updated within the last 5 years, and a complete sewer line replacement 2 years ago, along with an updated electrical panel and meter. This home offers a great combination of space, functionality, and opportunity for its next owner to make it their own.

16. 2026-03-30
    price $150,000 879-char remark

    Show marketing remark (879 chars)

    Charming and spacious home located just minutes from I-240, I-44, and Will Rogers Airport, offering 3 bedrooms, 2 bathrooms, and 3 living areas for flexible living. The layout features a large kitchen that opens to the dining space, creating an inviting feel for everyday living and entertaining, along with a cozy fireplace and beautiful wood mantle. A major highlight is the 720 sq ft detached garage—equivalent to a 3-car garage—with its own electric meter, central heat, window air, and 220V power, perfect for a workshop or additional storage. Key updates include a roof approximately 8 years old, HVAC system updated within the last 5 years, and a complete sewer line replacement 2 years ago, along with an updated electrical panel and meter. This home offers a great combination of space, functionality, and opportunity for its next owner to make it their own.

17. 2026-03-18
    listed $159,900 Active 879-char remark

    Show marketing remark (879 chars)

    Charming and spacious home located just minutes from I-240, I-44, and Will Rogers Airport, offering 3 bedrooms, 2 bathrooms, and 3 living areas for flexible living. The layout features a large kitchen that opens to the dining space, creating an inviting feel for everyday living and entertaining, along with a cozy fireplace and beautiful wood mantle. A major highlight is the 720 sq ft detached garage—equivalent to a 3-car garage—with its own electric meter, central heat, window air, and 220V power, perfect for a workshop or additional storage. Key updates include a roof approximately 8 years old, HVAC system updated within the last 5 years, and a complete sewer line replacement 2 years ago, along with an updated electrical panel and meter. This home offers a great combination of space, functionality, and opportunity for its next owner to make it their own.

18. 2026-03-03
    historical
19. 2026-02-14
    price $179,900
20. 2026-02-02
    price $185,000
21. 2025-10-08
    listed $192,000 Active
22. 2002-10-04
    soldstatus $70,000
23. 2002-09-20
    soldstatus $70,000
24. 2002-08-19
    listed $69,900
25. 1993-03-19
    soldstatus $49,000
26. 1981-08-01
    soldstatus $27,500

ⓘ 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: $1,566 · $130/mo
• Projected year-2 tax: $1,566 · $130/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 5/10 Major FEMA zone A · 65% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,189
• − Mortgage interest: −$8,122
• − Property taxes: −$1,566
• − Insurance: −$2,228
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$4,218
• Taxable loss: −$3,375
• Est. tax savings @ 24.0%: +$810
• After-tax cash flow: $-109/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): 30,398
• Household income: $45,421
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 1221.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 24% White 24% Native American 7% Black 6%
• Hispanic origin (detail): Mexican 58%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 28% · Canada
• Languages at home: 45% English-only · Spanish 54%

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: ▼ -50.15%
• Current HPI: 297.1117
• Rent YoY: ▲ 1.13%
• 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

+434.5% since first listed

12 events — show timeline

• 2026-05-05 Price Changed $147,000 MLSOK
• 2026-03-30 Price Changed $150,000 MLSOK
• 2026-03-18 Listed $159,900 MLSOK
• 2026-03-03 Listing Removed — MLSOK
• 2026-02-14 Price Changed $179,900 MLSOK
• 2026-02-02 Price Changed $185,000 MLSOK
• 2025-10-08 Listed $192,000 MLSOK
• 2002-10-04 Sold (Public Records) $70,000 Public Records
• 2002-09-20 Sold (MLS) $70,000 MLSOK
• 2002-08-19 Listed $69,900 MLSOK
• 1993-03-19 Sold (Public Records) $49,000 Public Records
• 1981-08-01 Sold (Public Records) $27,500 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,566 · +4.4% YoY. Source: county tax records.