3016 NW 28th St · Oklahoma City, OK 73107

$85,000

2 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 23 Days on market

Built 1942 7,000 sqft lot Est $154k · 45% under

---

Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is THE home for the first-time buyer needing more room than the price tag implies. Nice refrigerator and washer/dryer stay with property. Hardwood floors are in nice condition and the storage in this place rocks! Some fresh colors would make this a showplace.

Key facts

• 7,000 sq ft lot
• Garage
• Built 1942

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $347 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: Kaiser Es (math 8% / reading 8%, grade F, #741 of 845 statewide, top 89%, 530 students, 0% FRL); Northwest Classen Hs (math 5% / reading 10%, grade F, #420 of 447 statewide, top 95%, 1,702 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 fast (+7.3%/yr); 216 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y ago; this cycle's ask has dropped $80k (48%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $54k; list at $85k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1942 — 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: 1.33% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.51%
• DSCR: 1.78
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $153,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3028 Cashion Pl	0.19mi	3/1.0 (+1)	1,035 (+1%)	2mo	$90,000	$87	83
3120 NW 33rd St	0.37mi	3/2.0 (+1)	1,030 (+0%)	3mo	$155,000	$150	71
3209 NW 33rd St	0.44mi	2/1.0	1,081 (+6%)	1mo	$150,000	$139	70
2509 N Cashion Pl	0.69mi	2/1.0	1,005 (-2%)	0mo	$169,900	$169	64
3411 NW 28th St	0.48mi	3/1.0 (+1)	960 (-6%)	2mo	$142,500	$148	61
2621 NW 32nd St	0.61mi	2/1.5	1,078 (+5%)	3mo	$152,000	$141	58
2645 NW 31st St	0.53mi	2/1.0	940 (-8%)	6mo	$149,000	$159	57
3217 NW 29th St	0.27mi	3/2.0 (+1)	1,150 (+12%)	2mo	$170,000	$148	57
2501 NW 24th St	0.73mi	2/1.0	1,071 (+4%)	3mo	$325,000	$303	56
3012 NW NW 32nd St	0.31mi	3/1.0 (+1)	890 (-13%)	6mo	$65,000	$73	54
3726 N Drexel Blvd	0.71mi	3/1.0 (+1)	1,102 (+8%)	5mo	$174,000	$158	45
2544 NW 34th St	0.72mi	3/2.0 (+1)	1,080 (+5%)	4mo	$175,000	$162	45

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 · 7.29% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.56×
• Total profit: $13,432
• Equity at exit: $12,674

10-year hold

• IRR: 25.3%
• Equity multiple: 3.65×
• Total profit: $62,974
• Equity at exit: $7,349

Cash invested: $23,800 (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 73107

• Rents YoY: 7.3%
• Active inventory: 216
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,131 high
• Mortgage (P&I): −$446
• Tax from tax record: −$65 /mo · $775/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $347

Break-even live

Break-even rent $691

Max offer price $85,000

Occupancy floor 64%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3045 Pioneer St Oklahoma City, OK	2.0	1.0	857	$1,050	$1.23	17d	1	0.05mi
3044 NW 28th St Oklahoma City, OK	3.0	1.0	1030	$1,150	$1.12	2d	1	0.06mi
3000 NW 27th St Oklahoma City, OK	2.0	1.0	967	$1,095	$1.13	3d	1	0.11mi
3000 NW 27th St Oklahoma City, OK	2.0	1.0	967	$1,095	$1.13	11d	1	0.11mi
2924 Pioneer St Oklahoma City, OK	2.0	1.0	806	$1,125	$1.40	43d	1	0.12mi
3112 Cashion Pl Oklahoma City, OK	3.0	1.0	968	$1,150	$1.19	10d	1	0.23mi
3228 NW 27th St Oklahoma City, OK	2.0	1.0	1088	$1,195	$1.10	11d	1	0.28mi
3109 NW 23rd St Oklahoma City, OK	2.0	1.0	1006	$925	$0.92	43d	1	0.33mi
3116 NW 32nd St Oklahoma City, OK	2.0	1.0	720	$950	$1.32	3d	1	0.34mi
2932 NW 32nd St Oklahoma City, OK	1.0	1.0	1000	$695	$0.69	43d	1	0.36mi
3141 NW 32nd St Oklahoma City, OK	2.0	1.0	1010	$1,025	$1.01	21d	1	0.38mi
2928 NW 33rd St Oklahoma City, OK	3.0	2.0	1450	$1,600	$1.10	43d	1	0.41mi
3003 NW 20th St Oklahoma City, OK	2.0	1.0	909	$999	$1.10	43d	1	0.55mi
3609 N Drexel Blvd Unit 3611 Oklahoma City, OK	2.0	2.0	1375	$1,200	$0.87	23d	1	0.56mi
3611 N Drexel Blvd Oklahoma City, OK	2.0	2.0	1375	$1,200	$0.87	23d	1	0.56mi
3617 1/2 N Drexel Blvd Oklahoma City, OK	2.0	1.5	1343	$1,150	$0.86	1d	1	0.58mi
2748 NW 22nd St Oklahoma City, OK	2.0	1.0	1066	$1,500	$1.41	2d	1	0.59mi
2605 NW 24th St Oklahoma City, OK	2.0	1.0	1300	$1,525	$1.17	2d	1	0.61mi
2854 NW 19th St Unit 2854 Oklahoma City, OK	2.0	1.0	811	$1,280	$1.58	2d	1	0.68mi
2504 NW 27th St Oklahoma City, OK	2.0	1.0	1303	$1,450	$1.11	43d	1	0.68mi
2400 NW 30th St Oklahoma City, OK	1.0–2.0	1.0–2.0	801	$1,279	$1.60	1d	11	0.76mi
2400 NW 30th St Oklahoma City, OK	2.0	2.0	1078	$1,289	$1.20	43d	1	0.80mi
3701 NW 24th St Oklahoma City, OK	3.0	2.0	1404	$1,299	$0.93	43d	1	0.86mi
3175 N Portland Ave Oklahoma City, OK	2.0	1.0	865	$899	$1.04	43d	1	0.86mi
3175 N Portland Ave Oklahoma City, OK	1.0	1.0	700	$834	$1.19	14d	1	0.86mi
3175 N Portland Ave Oklahoma City, OK	2.0	2.0	918	$960	$1.05	23d	1	0.86mi
3175 N Portland Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	809	$960	$1.19	16d	3	0.86mi
3024 NW 14th St Oklahoma City, OK	2.0	1.0	924	$895	$0.97	16d	1	0.97mi
3733 NW 22nd St Apt 210 Oklahoma City, OK	2.0	1.0	850	$950	$1.12	43d	1	0.97mi
2916 NW 14th St Oklahoma City, OK	2.0	4.0	800	$900	$1.12	2d	1	0.98mi
2400 NW 36th St Oklahoma City, OK	2.0	1.0	950	$1,100	$1.16	43d	1	0.99mi
3021 NW 13th St Oklahoma City, OK	3.0	1.0	1072	$995	$0.93	23d	1	1.01mi
3221 NW 39th Ter Oklahoma City, OK	3.0	1.0	1073	$1,350	$1.26	17d	1	1.01mi
3625 NW 18th St Oklahoma City, OK	3.0	2.0	1040	$1,500	$1.44	43d	1	1.02mi
2517 NW 38th St Oklahoma City, OK	3.0	1.0	1000	$1,225	$1.23	3d	1	1.02mi
2517 NW 38th St Oklahoma City, OK	3.0	1.0	1000	$1,225	$1.23	23d	1	1.02mi
3829 NW 26th St Oklahoma City, OK	2.0	1.0	895	$1,125	$1.26	2d	1	1.03mi
2300 N Youngs Blvd Oklahoma City, OK	1.0	1.0	1176	$865	$0.74	43d	1	1.04mi
2220 NW 32nd St Oklahoma City, OK	2.0	1.0	850	$1,300	$1.53	21d	1	1.07mi
2212 NW 31st St Oklahoma City, OK	2.0	1.0	810	$1,024	$1.26	14d	1	1.07mi

Listing history 10 events

1. 2025-08-17
   status Pending
2. 2025-08-15
   status Active
3. 2025-07-31
   status Active
4. 2025-07-18
   status Active
5. 2025-07-18
   price $85,000
6. 2025-05-16
   status Pending
7. 2025-05-02
   listed $165,000 Active
8. 2005-02-17
   soldstatus $54,000
9. 2005-02-11
   soldstatus $54,000 267-char remark

   Show marketing remark (267 chars)

   This is THE home for the first-time buyer needing more room than the price tag implies. Nice refrigerator and washer/dryer stay with property. Hardwood floors are in nice condition and the storage in this place rocks! Some fresh colors would make this a showplace.

10. 2004-09-12
    listed $49,900 267-char remark

    Show marketing remark (267 chars)

    This is THE home for the first-time buyer needing more room than the price tag implies. Nice refrigerator and washer/dryer stay with property. Hardwood floors are in nice condition and the storage in this place rocks! Some fresh colors would make this a showplace.

ⓘ 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: $775 · $65/mo
• Projected year-2 tax: $775 · $65/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,566
• − Mortgage interest: −$4,761
• − Property taxes: −$775
• − Insurance: −$425
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$2,473
• Taxable income: $2,962
• Est. tax owed @ 24.0%: −$711
• After-tax cash flow: $3,458/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): 25,791
• Household income: $56,873
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1210.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 13% Native American 6% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 30% Vietnamese 1%

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: ▼ -245.03%
• Current HPI: 274.7844
• Rent YoY: ▲ 7.29%
• 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

+70.3% since first listed

10 events — show timeline

• 2025-08-17 Pending — MLSOK
• 2025-08-15 Relisted — MLSOK
• 2025-07-31 Relisted — MLSOK
• 2025-07-18 Relisted — MLSOK
• 2025-07-18 Price Changed $85,000 MLSOK
• 2025-05-16 Pending — MLSOK
• 2025-05-02 Listed $165,000 MLSOK
• 2005-02-17 Sold (Public Records) $54,000 Public Records
• 2005-02-11 Sold (MLS) $54,000 MLSOK
• 2004-09-12 Listed $49,900 MLSOK

Property tax history

+4.3%/yr

Latest (2025): $775 · +2.7% YoY. Source: county tax records.