2317 SW 32nd St · Oklahoma City, OK 73119

$155,000

3 bd · 1.0 ba · 1,229 sqft · SingleFamily public records · 25 Days on market

Built 1940 6,499 sqft lot $126/sqft · 6% above area Est $180k · 14% 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 +13.6/15.0
• Cash flow +11.2/30.0
• Livability +4.0/5.0
• DSCR +3.3/10.0
• Rent growth +2.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully restored total electric bungalow offering 4 bedrooms, 2 full bathrooms, and a spacious, flexible layout on a large lot in a highly convenient Oklahoma City location. This move-in ready home features fresh paint, updated flooring, and a light, modern aesthetic throughout, with a bright living area and functional kitchen that flows seamlessly for everyday living and entertaining. Generously sized bedrooms provide options for guests, office space, or growing households, while the expansive yard offers plenty of room to enjoy outdoor living. Ideally located with quick access to major highways and just minutes from great restaurants, shopping, and local amenities, this home combines charm, updates, and convenience all in one.

Key facts

• Expansive yard
• Large lot
• Total electric

Tags

• RESTORED BUNGALOW
• TOTAL ELECTRIC
• LARGE LOT
• EXPANSIVE YARD
• QUICK ACCESS TO HIGHWAYS
• MINUTES FROM RESTAURANTS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-60 ($-716/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (24.4% below list).
• Recommended offer: $117k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: schools F, 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.
• Market conditions: Rents rising (+1.1%/yr); 93 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 31% 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 $5k 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 25 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $155k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $117,114 (24.4% 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. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.65%
• DSCR: 0.93
• GRM: 11.0

CMA / ARV

• ARV (median comp): $179,500
• List price: $155,000
• Delta: -13.65%
• 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
2443 SW 28th St	0.37mi	3/1.5	1,218 (-1%)	0mo	$184,000	$151	79
2221 SW 24th St	0.62mi	3/2.0	1,275 (+4%)	2mo	$215,000	$169	59
1433 SW 34th St	0.60mi	3/2.0	1,270 (+3%)	8mo	$85,000	$67	56
3900 S Youngs Pl	0.35mi	3/1.0	1,128 (-8%)	17mo	$165,000	$146	56
2404 SW 41st St	0.59mi	4/1.5 (+1)	1,274 (+4%)	7mo	$125,000	$98	54
2233 SW 40th St	0.49mi	4/1.0 (+1)	1,128 (-8%)	7mo	$138,100	$122	52
1536 SW 28th St	0.53mi	3/2.0	1,360 (+11%)	2mo	$234,000	$172	51
2725 SW Grand Blvd	0.57mi	2/2.0 (-1)	1,177 (-4%)	10mo	$125,000	$106	49
1518 SW 28th St	0.57mi	3/2.0	1,315 (+7%)	15mo	$118,000	$90	45
1428 SW 31st St	0.60mi	3/1.0	1,100 (-10%)	16mo	$145,000	$132	41
1517 SW 40th St	0.69mi	3/1.5	1,400 (+14%)	5mo	$126,000	$90	39
2644 SW 25th St	0.66mi	2/1.0 (-1)	1,050 (-15%)	9mo	$50,000	$48	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 · 1.13% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: 0.28×
• Total profit: $-31,117
• Equity at exit: $23,111

10-year hold

• IRR: -18.9%
• Equity multiple: 0.06×
• Total profit: $-40,684
• Equity at exit: $13,402

Cash invested: $43,400 (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 73119

• Home prices YoY: -14.4%
• Rents YoY: 1.1%
• Active inventory: 93
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,171 high
• Mortgage (P&I): −$813
• Tax from tax record: −$107 /mo · $1,290/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $-60

Break-even live

Break-even rent $1,247

Max offer price $144,456

Occupancy floor —

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2140 SW 35th St Oklahoma City, OK	3.0	2.0	976	$1,300	$1.33	43d	1	0.28mi
2336 SW Grand Blvd Oklahoma City, OK	2.0	1.0	770	$995	$1.29	43d	1	0.31mi
2119 SW 39th St Oklahoma City, OK	1.0–2.0	1.0	675	$909	$1.35	43d	1	0.45mi
2640 SW 38th St Oklahoma City, OK	3.0	2.0	944	$1,050	$1.11	2d	1	0.56mi
2128 SW 41st St Oklahoma City, OK	2.0	1.0	860	$820	$0.95	2d	1	0.62mi
2612 SW 41st St Oklahoma City, OK	3.0	1.0	1164	$1,200	$1.03	23d	1	0.68mi
4330 S Barnes Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	860	$1,099	$1.28	3d	9	0.71mi
1329 SW Grand Blvd Oklahoma City, OK	2.0	1.0	858	$1,050	$1.22	43d	1	0.75mi
1345 SW 27th St Oklahoma City, OK	3.0	2.0	1153	$1,095	$0.95	2d	1	0.77mi
2921 SW 28th St Oklahoma City, OK	3.0	1.0	1125	$1,490	$1.32	43d	1	0.83mi
2500 SW 48th St Oklahoma City, OK	2.0	1.0	1096	$1,050	$0.96	43d	1	1.08mi
1132 SW 40th St Oklahoma City, OK	3.0	2.0	1436	$1,350	$0.94	23d	1	1.09mi
3128 SW 27th St Oklahoma City, OK	2.0	1.0	740	$880	$1.19	2d	1	1.12mi
2922 SW 19th St Oklahoma City, OK	3.0	1.0	1056	$1,350	$1.28	2d	1	1.21mi
2741 SW Murray Dr Oklahoma City, OK	3.0	1.0	949	$1,395	$1.47	1d	1	1.22mi
2812 SW 48th St Oklahoma City, OK	4.0	1.0	840	$1,350	$1.61	19d	1	1.31mi
3120 S Woodward Ave Oklahoma City, OK	2.0	1.0	740	$800	$1.08	2d	1	1.31mi
2801 SW 51st St Oklahoma City, OK	2.0	1.0	840	$1,025	$1.22	1d	1	1.37mi
1338 South Dr Oklahoma City, OK	2.0	1.0	720	$1,150	$1.60	15d	1	1.38mi
1056 Hangar Dr Oklahoma City, OK	2.0	1.5	844	$2,400	$2.84	43d	1	1.39mi
3200 SW 20th St Oklahoma City, OK	3.0	1.0	1032	$1,000	$0.97	20d	1	1.42mi
2400 SW 53rd St Oklahoma City, OK	4.0	1.5	1440	$1,400	$0.97	11d	1	1.42mi
3430 SW 29th Pl Unit 3430 Oklahoma City, OK	3.0	1.0	760	$850	$1.12	43d	1	1.42mi
1004 SW 45th St Oklahoma City, OK	2.0	1.0	756	$950	$1.26	23d	1	1.42mi
1416 S Daugherty Ave Oklahoma City, OK	3.0	1.0	1164	$1,120	$0.96	11d	1	1.46mi
3500 SW 29th Pl Oklahoma City, OK	2.0	1.0	800	$695	$0.87	43d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $155,000 Active 25 DOM
2. 2026-06-17
   days on market $155,000 Active 24 DOM
3. 2026-06-16
   days on market $155,000 Active 23 DOM
4. 2026-06-15
   days on market $155,000 Active 22 DOM
5. 2026-06-13
   statusdays on market $155,000 Active 20 DOM
6. 2026-05-08
   status Pending 742-char remark

   Show marketing remark (742 chars)

   Beautifully restored total electric bungalow offering 4 bedrooms, 2 full bathrooms, and a spacious, flexible layout on a large lot in a highly convenient Oklahoma City location. This move-in ready home features fresh paint, updated flooring, and a light, modern aesthetic throughout, with a bright living area and functional kitchen that flows seamlessly for everyday living and entertaining. Generously sized bedrooms provide options for guests, office space, or growing households, while the expansive yard offers plenty of room to enjoy outdoor living. Ideally located with quick access to major highways and just minutes from great restaurants, shopping, and local amenities, this home combines charm, updates, and convenience all in one.

7. 2026-04-30
   price $155,000 742-char remark

   Show marketing remark (742 chars)

   Beautifully restored total electric bungalow offering 4 bedrooms, 2 full bathrooms, and a spacious, flexible layout on a large lot in a highly convenient Oklahoma City location. This move-in ready home features fresh paint, updated flooring, and a light, modern aesthetic throughout, with a bright living area and functional kitchen that flows seamlessly for everyday living and entertaining. Generously sized bedrooms provide options for guests, office space, or growing households, while the expansive yard offers plenty of room to enjoy outdoor living. Ideally located with quick access to major highways and just minutes from great restaurants, shopping, and local amenities, this home combines charm, updates, and convenience all in one.

8. 2026-04-18
   listed $165,000 Active 742-char remark

   Show marketing remark (742 chars)

   Beautifully restored total electric bungalow offering 4 bedrooms, 2 full bathrooms, and a spacious, flexible layout on a large lot in a highly convenient Oklahoma City location. This move-in ready home features fresh paint, updated flooring, and a light, modern aesthetic throughout, with a bright living area and functional kitchen that flows seamlessly for everyday living and entertaining. Generously sized bedrooms provide options for guests, office space, or growing households, while the expansive yard offers plenty of room to enjoy outdoor living. Ideally located with quick access to major highways and just minutes from great restaurants, shopping, and local amenities, this home combines charm, updates, and convenience all in one.

9. 2024-06-28
   soldstatus $85,000
10. 2007-12-19
    historical
11. 2006-08-26
    listed $35,000
12. 2003-12-08
    soldstatus $30,000
13. 1991-06-04
    soldstatus $9,788

ⓘ 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: $1,290 · $107/mo
• Projected year-2 tax: $1,395 · $116/mo
• Expected delta: +$105/yr (+$9/mo · 8.2%)

ⓘ 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 1/10 Low
• 🌡 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: $14,054
• − Mortgage interest: −$8,682
• − Property taxes: −$1,290
• − Insurance: −$775
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$4,509
• Taxable loss: −$3,451
• Est. tax savings @ 24.0%: +$828
• After-tax cash flow: $112/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

+1483.6% since first listed

8 events — show timeline

• 2026-05-08 Pending — MLSOK
• 2026-04-30 Price Changed $155,000 MLSOK
• 2026-04-18 Listed $165,000 MLSOK
• 2024-06-28 Sold (Public Records) $85,000 Public Records
• 2007-12-19 Listing Removed — MLSOK
• 2006-08-26 Listed $35,000 MLSOK
• 2003-12-08 Sold (Public Records) $30,000 Public Records
• 1991-06-04 Sold (Public Records) $9,788 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,290 · +55.0% YoY. Source: county tax records.