1107 E 45th Pl S Unit SU18 · Tulsa, OK 74105

$129,000

2 bd · 2.0 ba · 1,024 sqft · Condo public records · 6 Days on market

Built 1965 $44/mo HOA · 3% of rent

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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 +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming condo in a prime location nestled just off Cherry Street, you’ll enjoy quick access to some of Tulsa’s best dining, nightlife, boutique shopping, and local coffee spots, and a pool for the summer time heat. Whether you're looking for a low-maintenance primary residence, stylish city retreat, or convenient investment opportunity, this one checks the boxes. Inside, enjoy a comfortable layout with plenty of natural light and easy living spaces designed for everyday comfort. Step outside and take advantage of nearby parks, entertainment, and all the energy of midtown Tulsa living. Opportunities in this location don’t last long—schedule your

Key facts

• $44 HOA
• Community pool
• Built 1965

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with annual fee of $525; Community pool

Exterior

• Security: No safety shelter
• Utilities: Cable available; Electricity available; Phone available; Public water; Public sewer
• Home design: Single-story; Faces west
• Construction: Brick veneer and wood frame construction; Asphalt/fiberglass roof; Slab foundation; Built per public records
• Exterior features: In-ground fiberglass pool; No safety shelter

Interior

• Kitchen: Convection oven; Range; Microwave; Dishwasher; Garbage disposal; Electric water heater
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Laminate counters; Other interior features; Vinyl window frames

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $129k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $129k).
• 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-.
• Tulsa (urban): math 7% / reading 12% proficiency, ranked #250 of 270 in OK (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 223 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $892 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 6 days on market — expect competitive offers; lowballing is unlikely to land.

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 $129,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.83% rent growth · sell at horizon

5-year hold

• IRR: -6.6%
• Equity multiple: 0.75×
• Total profit: $-8,879
• Equity at exit: $19,234

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $7,152
• Equity at exit: $11,154

Cash invested: $36,120 (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 74105

• Rents YoY: 2.8%
• Active inventory: 223
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,370 high
• Mortgage (P&I): −$676
• Tax from tax record: −$116 /mo · $1,393/yr
• Insurance: −$54
• HOA: −$44
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $192

Break-even live

Break-even rent $1,127

Max offer price $129,000

Occupancy floor 81%

Sensitivity live

Price	-10% $265	-5% $229	+0% $192	+5% $156	+10% $119
Rent	-10% $84	-5% $138	+0% $192	+5% $246	+10% $300
Rate	-1.0pp $257	-0.5pp $225	base $192	+0.5pp $159	+1.0pp $125

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1348 E 45th Pl Tulsa, OK	3.0	1.5	1281	$1,675	$1.31	24d	1	0.27mi
1115 E 48th Pl Tulsa, OK	3.0	1.5	1195	$1,500	$1.26	24d	1	0.35mi
1419 E 42nd St Tulsa, OK	2.0	1.0	850	$1,395	$1.64	4d	1	0.39mi
1027 E 41st St Tulsa, OK	2.0	1.0	860	$1,195	$1.39	4d	2	0.42mi
4740 S Boston Ave Tulsa, OK	2.0	1.0	839	$1,475	$1.76	3d	1	0.47mi
1414 E 39th St Tulsa, OK	1.0–2.0	1.0–2.0	1117	$2,120	$1.90	2d	17	0.55mi
4676 S Saint Louis Ave Tulsa, OK	3.0	1.0	1012	$1,475	$1.46	24d	1	0.55mi
1514 E 49th St Tulsa, OK	3.0	1.0	980	$1,295	$1.32	17d	1	0.61mi
936 E 37th Pl Tulsa, OK	2.0	1.0	776	$995	$1.28	20d	1	0.66mi
5121 S Madison Ave Tulsa, OK	3.0	1.5	1048	$1,550	$1.48	12d	1	0.70mi
5101 S Madison Ave Tulsa, OK	1.0–2.0	1.0	780	$1,150	$1.47	2d	2	0.73mi
1135 E 37th St Tulsa, OK	2.0	1.0	884	$950	$1.07	22d	1	0.76mi
5009 S Troost Ave Tulsa, OK	2.0	1.0	886	$1,400	$1.58	24d	1	0.82mi
4849 S Victor Ave Tulsa, OK	1.0–2.0	1.0–2.0	775	$1,100	$1.42	17d	6	0.87mi
5151 S Utica Ave Tulsa, OK	1.0–2.0	1.0	799	$838	$1.05	2d	1	1.00mi
2102 E 51st St Tulsa, OK	1.0–2.0	1.0–2.0	700	$725	$1.04	2d	15	1.15mi
5607 S Quaker Ave Unit 5607D-Q Tulsa, OK	2.0	2.0	950	$1,100	$1.16	4d	1	1.21mi
5624 S Peoria Ave Unit 5624C-P Tulsa, OK	2.0	1.0	850	$1,000	$1.18	4d	1	1.29mi
1037 E 57th Pl #5 Tulsa, OK	1.0	1.5	1088	$1,100	$1.01	24d	1	1.31mi
5628 S Peoria Ave Unit 5628A-P Tulsa, OK	2.0	2.0	950	$1,100	$1.16	4d	1	1.31mi
5270 S Lewis Ave Tulsa, OK	2.0	2.0	1050	$950	$0.90	24d	8	1.33mi
1320 E 58th St Tulsa, OK	1.0	1.0	980	$1,200	$1.22	22d	1	1.42mi
4956 S Maybelle Ave Tulsa, OK	3.0	1.0	933	$1,395	$1.50	15d	1	1.48mi

HOA detail condo

• Monthly dues: $44 · $528/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-05
   status Pending
2. 2026-04-29
   listed $129,000 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: $1,393 · $116/mo
• Projected year-2 tax: $1,393 · $116/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 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $16,443
• − Mortgage interest: −$7,226
• − Property taxes: −$1,393
• − Insurance: −$645
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − HOA: −$528
• − Depreciation: −$3,753
• Taxable income: $267
• Est. tax owed @ 24.0%: −$64
• After-tax cash flow: $2,242/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: Tulsa
• NCES district ID: 4030240
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 12% ▼ -7.00%
• Median HH income: $37,895
• Composite: 8.04/100
• National rank: #9919
• State rank: #250 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): 26,951
• Household income: $69,547
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1214.0

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 (70%)
• Race & ethnicity: White 70% Two or more races 12% Black 9% Hispanic / Latino 7% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 4%

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: ▼ -305.73%
• Current HPI: 236.6827
• Rent YoY: ▲ 2.83%
• 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

• 2026-05-05 Pending — MLS Technology, Inc.
• 2026-04-29 Listed $129,000 MLS Technology, Inc.

Property tax history

+5.1%/yr

Latest (2025): $1,393 · +8.7% YoY. Source: county tax records.