12903 E 32nd St · Tulsa, OK 74134

$150,000

3 bd · 1.0 ba · 1,134 sqft · SingleFamily public records · 1 Days on market

Built 1972 0.27 ac lot Est $156k · 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 +21.4/30.0
• ARV discount +9.4/15.0
• DSCR +6.8/10.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent opportunity just waiting for YOU! Bring your creativity and take advantage while it lasts. .. One owner home needing your vision to bring it to life again. Kitchen open to informal dining. Spacious living room. French doors lead to covered patio. Larger lot with privacy fence. Don't miss this opportunity. Come see it today.

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1972

Tags

• LARGER LOT WITH PRIVACY FENCE

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Security: No safety shelter
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story home; Faces southeast; Slab foundation; Brick, masonite, and wood frame construction; Asphalt/fiberglass roof; Built (year from public records)
• Construction: Brick, masonite and wood frame construction; Asphalt/fiberglass roof; Slab foundation
• Exterior features: Covered patio and porch

Interior

• Kitchen: Oven; Range; Stove; Refrigerator
• Bedrooms: Master bedroom (first floor); Additional bedrooms (first floor)
• Flooring: Vinyl
• Bathrooms: Hall full bathroom (first floor)
• Heating & cooling: Central heating (electric and gas); Central air conditioning; Gas water heater
• Interior features: Ceiling fans; Cable TV available; Laminate countertops; Aluminum framed windows; Gas oven connection
• Laundry & utility: Washer hookup; Gas dryer hookup; Utility room accessed from garage

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.1% 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.

Location & tenants

• 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-.
• Union (urban): math 20% / reading 20% proficiency, ranked #160 of 270 in OK (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.5%/yr); 195 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $4k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $150,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $156,492
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13178 E 29th St	0.52mi	3/2.5	1,096 (-3%)	2mo	$122,000	$111	63
13306 E 28th St	0.54mi	3/2.0	1,132 (-0%)	10mo	$194,000	$171	62
13031 E 28th Pl	0.55mi	3/2.5	1,190 (+5%)	1mo	$120,000	$101	59
2904 S 131st EastAvenue	0.43mi	3/2.0	1,036 (-9%)	3mo	$115,000	$111	59
13110 E 29th St	0.43mi	3/2.0	1,235 (+9%)	3mo	$40,000	$32	59
13015 E 28th St	0.57mi	3/1.0	1,082 (-5%)	14mo	$145,600	$135	54
13037 E 27th St	0.68mi	3/1.5	1,124 (-1%)	22mo	$170,000	$151	46
13038 E 27th Pl	0.61mi	3/2.0	1,230 (+8%)	9mo	$160,000	$130	46
2737 S 133rd East Ave	0.62mi	3/1.5	1,168 (+3%)	24mo	$183,000	$157	44
2804 S 125th EastAvenue	0.63mi	3/2.0	1,276 (+12%)	8mo	$200,000	$157	40
13061 E 28th Pl	0.54mi	3/2.5	1,277 (+13%)	12mo	$190,000	$149	37
13003 E 27th St	0.68mi	3/1.0	1,265 (+12%)	23mo	$175,000	$138	30

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-9,298
• Equity at exit: $22,365

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $13,440
• Equity at exit: $12,969

Cash invested: $42,000 (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 74134

• Home prices YoY: -25.5%
• Rents YoY: 3.5%
• Active inventory: 195
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,507 high
• Mortgage (P&I): −$787
• Tax from tax record: −$118 /mo · $1,415/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $224

Break-even live

Break-even rent $1,224

Max offer price $150,000

Occupancy floor 80%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3311 S 126th East Ave Tulsa, OK	3.0	2.0	1395	$1,650	$1.18	24d	1	0.21mi
13102 E 30th St Tulsa, OK	3.0	2.0	1190	$1,395	$1.17	24d	1	0.36mi
13102 E 30th St Tulsa, OK	3.0	2.0	1190	$1,395	$1.17	20d	1	0.36mi
3208 S 137th East Ave Tulsa, OK	3.0	2.0	1367	$1,578	$1.15	3d	1	0.51mi
4020 S 130th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	737	$1,245	$1.69	21d	4	0.73mi
12525 E 41st St Tulsa, OK	1.0–2.0	1.0–2.0	775	$1,300	$1.68	21d	1	0.75mi
4104 S 130th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	750	$1,299	$1.73	12d	23	0.83mi
2444 S 121st East Ave Tulsa, OK	3.0	1.5	1168	$1,395	$1.19	24d	1	0.97mi
3121 S 145th East Ave Tulsa, OK	1.0–2.0	1.0–2.0	825	$1,200	$1.45	3d	1	1.03mi
2319 S 119th East Ave Tulsa, OK	3.0	1.0	990	$1,365	$1.38	24d	1	1.07mi
2336 S 137th East Ave Tulsa, OK	1.0–3.0	1.0–2.0	1080	$1,499	$1.39	2d	1	1.08mi
2756 S 114th East Ave Tulsa, OK	3.0	2.0	1120	$1,650	$1.47	24d	1	1.14mi
12111 E 21st Pl Tulsa, OK	3.0	1.0	1199	$1,395	$1.16	21d	1	1.26mi
10951 E 23rd St Unit 10967 Tulsa, OK	2.0	1.5	800	$1,149	$1.44	3d	1	1.48mi
10951 E 23rd St Unit 10959 Tulsa, OK	2.0	1.5	767	$1,149	$1.50	24d	1	1.48mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.0–2.0	950	$1,499	$1.58	2d	4	1.49mi
1801 S 132nd East Pl Tulsa, OK	2.0–3.0	1.5–2.0	975	$1,439	$1.48	21d	4	1.49mi

Listing history 2 events

1. 2026-04-29
   status Pending
2. 2026-04-28
   listed $150,000 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: $1,415 · $118/mo
• Projected year-2 tax: $1,415 · $118/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% 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: $18,084
• − Mortgage interest: −$8,402
• − Property taxes: −$1,415
• − Insurance: −$750
• − Repairs & maintenance: −$1,447
• − Management: −$1,447
• − Depreciation: −$4,364
• Taxable income: $260
• Est. tax owed @ 24.0%: −$62
• After-tax cash flow: $2,620/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: Union
• NCES district ID: 4030600
• Math proficiency: 20% ▼ -9.00%
• Reading proficiency: 20% ▼ -9.00%
• Median HH income: $52,744
• Composite: 18.18/100
• National rank: #8962
• State rank: #160 of 270 in OK

Livability — Tulsa

• Score: 75/100
• State rank: #13
• US rank: #4058

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tulsa, OK
• County: Tulsa County · 640,811 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 23,323
• Household income: $73,119
• Rent vs Own: 36.2% rent · 63.8% own
• Severe rent burden: 608.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 26% Two or more races 15% Black 10% Asian 7% Native American 5%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 1% Lithuanian 1% Italian 1%
• Foreign-born: 18% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 22% Other Asian/Pacific 3% Vietnamese 2%

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: ▼ -68.07%
• Current HPI: 198.7031
• Rent YoY: ▲ 3.52%
• 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

2 events — show timeline

• 2026-04-29 Pending — MLS Technology, Inc.
• 2026-04-28 Listed $150,000 MLS Technology, Inc.

Property tax history

+3.1%/yr

Latest (2025): $1,415 · +7.4% YoY. Source: county tax records.