6148 S Madison Pl Unit 6148-A · Tulsa, OK 74136

$95,000

2 bd · 1.5 ba · 954 sqft · Condo public records · 106 Days on market

Built 1968 $21/mo HOA · 2% 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 +25.5/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Walking distance to Riverside Parks & minutes to Brookside. Well managed and maintained plus move in ready. 2 bedroom, 1.5 baths, condo. Half bath downstairs and a full bath in hallway upstairs (No master Bath). Quiet and close to shopping, schools, restaurants and hospitals. Spacious with a back porch that is fully fenced and private for grilling and relaxing with friends/family. Great courtyard and nearby pool. Parking reserved close to your front door!

Key facts

• Move in ready
• $21 HOA
• Parking

Tags

• MOVE IN READY
• FULLY FENCED BACK PORCH

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association with an annual fee of $250; Association fee includes water, sewer, and trash; Community pool; Community features include gutters

Exterior

• Parking: Driveway
• Security: No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: 2-story property; Faces south; Slab foundation
• Construction: Asphalt/fiberglass roof; Year built per public records
• Exterior features: Landscaping; Rain gutters; Enclosed patio

Interior

• Kitchen: Eat-in kitchen; Cooktop; Microwave; Disposal; Refrigerator; Gas water heater
• Bedrooms: Second-floor bedrooms including a master bedroom
• Bathrooms: One full bathroom on the second floor (hall/full bath); One half bathroom on the first floor (hall/half bath)
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Vinyl windows; Other interior features
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room on the first floor (inside)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $95k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.8% 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 flat; 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $657 of loan paydown is wiped out by about $3k 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

• It's been on market 106 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $25k; list at $95k implies a 280% gain — meaningful room to come down on a strong offer.

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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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.
10. 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.
11. 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: 1.07% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.97%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-3,619
• Equity at exit: $14,165

10-year hold

• IRR: 3.4%
• Equity multiple: 1.22×
• Total profit: $5,959
• Equity at exit: $8,214

Cash invested: $26,600 (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 74136

• Home prices YoY: -31.4%
• Rents YoY: 0.7%
• Active inventory: 173
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,019 high
• Mortgage (P&I): −$498
• Tax from tax record: −$26 /mo · $308/yr
• Insurance: −$40
• HOA: −$21
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $221

Break-even live

Break-even rent $740

Max offer price $95,000

Occupancy floor 73%

Sensitivity live

Price	-10% $275	-5% $248	+0% $221	+5% $194	+10% $167
Rent	-10% $140	-5% $181	+0% $221	+5% $261	+10% $301
Rate	-1.0pp $269	-0.5pp $245	base $221	+0.5pp $196	+1.0pp $171

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 E 61st St Tulsa, OK	1.0	1.0	700	$926	$1.32	4d	1	0.06mi
6345 S Madison Pl Unit 1 Tulsa, OK	3.0	2.0	1080	$1,100	$1.02	4d	1	0.22mi
1110 E 60th St Tulsa, OK	1.0–2.0	1.0–2.0	794	$1,069	$1.35	4d	4	0.23mi
1337 E 61st St Tulsa, OK	1.0–2.0	1.0	700	$1,051	$1.50	4d	14	0.39mi
1037 E 57th Pl #5 Tulsa, OK	1.0	1.5	1088	$1,100	$1.01	24d	1	0.43mi
1320 E 58th St Tulsa, OK	1.0	1.0	980	$1,200	$1.22	22d	1	0.43mi
1329 E 64th St Tulsa, OK	1.0–2.0	1.0	624	$1,149	$1.84	2d	2	0.44mi
5630 S Peoria Ave Unit 5630B-P Tulsa, OK	1.0	1.0	650	$925	$1.42	4d	1	0.48mi
5628 S Peoria Ave Unit 5628A-P Tulsa, OK	2.0	2.0	950	$1,100	$1.16	4d	1	0.49mi
5624 S Peoria Ave Unit 5624C-P Tulsa, OK	2.0	1.0	850	$1,000	$1.18	4d	1	0.51mi
6642 S Peoria Ave Tulsa, OK	1.0–2.0	1.0	712	$1,100	$1.54	12d	2	0.54mi
5620 S Quaker Ave Unit 5620D-Q Tulsa, OK	1.0	1.0	650	$999	$1.54	24d	1	0.57mi
6732 S Peoria Ave Tulsa, OK	1.0–2.0	1.0–2.0	810	$926	$1.14	3d	4	0.61mi
5607 S Quaker Ave Unit 5607D-Q Tulsa, OK	2.0	2.0	950	$1,100	$1.16	4d	1	0.64mi
7901 Riverside Pkwy Tulsa, OK	2.0	2.0	950	$884	$0.93	4d	16	0.66mi
6105 S Troost Ave Tulsa, OK	2.0	2.0	1124	$1,300	$1.16	24d	1	0.73mi
6639 S Victor Ave Unit G203 Tulsa, OK	1.0	1.0	800	$850	$1.06	24d	1	0.96mi
6639 S Victor Ave Unit G208 Tulsa, OK	1.0	1.0	800	$850	$1.06	17d	1	0.97mi
5101 S Madison Ave Tulsa, OK	1.0–2.0	1.0	780	$1,150	$1.47	2d	2	1.00mi
1802 E 66th Pl Tulsa, OK	1.0–2.0	1.0–2.0	562	$995	$1.77	4d	1	1.01mi
1802 E 66th Pl Tulsa, OK	1.0–2.0	1.0–2.0	695	$1,100	$1.58	22d	3	1.01mi
1804 E 66th Pl Unit E108 Tulsa, OK	1.0	1.0	562	$850	$1.51	24d	1	1.02mi
5121 S Madison Ave Tulsa, OK	3.0	1.5	1048	$1,550	$1.48	12d	1	1.03mi
6760 S Trenton Pl Tulsa, OK	2.0	2.0	900	$900	$1.00	11d	1	1.08mi
6760 S Trenton Pl Tulsa, OK	1.0	1.0	700	$745	$1.06	24d	1	1.08mi
6630 S Zunis Ave Tulsa, OK	1.0–3.0	1.0–2.0	1000	$1,044	$1.04	2d	12	1.15mi
2218 E 59th St Tulsa, OK	1.0–2.0	1.0	787	$1,199	$1.52	4d	4	1.18mi
5151 S Utica Ave Tulsa, OK	1.0–2.0	1.0	799	$838	$1.05	2d	1	1.24mi
2409 E 59th Ct Unit 2433-4 Tulsa, OK	1.0	1.0	565	$675	$1.19	20d	1	1.29mi
1818 E 71st St Tulsa, OK	2.0	1.0–2.0	700	$1,062	$1.52	2d	37	1.29mi
6609 S Lewis Ave Tulsa, OK	1.0	1.0	600	$816	$1.36	3d	5	1.34mi
5009 S Troost Ave Tulsa, OK	2.0	1.0	886	$1,400	$1.58	24d	1	1.37mi
7224 S Elwood Ave Tulsa, OK	1.0–2.0	1.0–2.0	948	$1,790	$1.89	2d	6	1.41mi
1514 E 49th St Tulsa, OK	3.0	1.0	980	$1,295	$1.32	17d	1	1.41mi
4740 S Boston Ave Tulsa, OK	2.0	1.0	839	$1,475	$1.76	4d	1	1.41mi
737 W 71st St S Unit 108 Tulsa, OK	2.0	1.0	869	$1,000	$1.15	24d	1	1.45mi
737 W 71st St S Tulsa, OK	1.0–2.0	1.0	920	$1,000	$1.09	15d	12	1.45mi
737 W 71st St S Unit 102 Tulsa, OK	2.0	1.0	869	$900	$1.04	24d	1	1.45mi
2102 E 51st St Tulsa, OK	1.0–2.0	1.0–2.0	700	$725	$1.04	2d	15	1.48mi
4849 S Victor Ave Tulsa, OK	1.0–2.0	1.0–2.0	775	$1,100	$1.42	17d	6	1.49mi

HOA detail condo

• Monthly dues: $21 · $252/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $95,000 Active 106 DOM
2. 2026-06-17
   days on market $95,000 Active 105 DOM
3. 2026-06-16
   days on market $95,000 Active 104 DOM
4. 2026-06-15
   days on market $95,000 Active 103 DOM
5. 2026-06-13
   days on market $95,000 Active 101 DOM
6. 2026-06-10
   days on market $95,000 Active 98 DOM
7. 2026-06-09
   days on market $95,000 Active 97 DOM
8. 2026-06-08
   days on market $95,000 Active 96 DOM
9. 2026-06-07
   days on market $95,000 Active 95 DOM
10. 2026-06-05
    days on market $95,000 Active 92 DOM
11. 2026-06-03
    days on market $95,000 Active 91 DOM
12. 2026-06-02
    days on market $95,000 Active 90 DOM
13. 2026-06-01
    days on market $95,000 Active 89 DOM
14. 2026-05-31
    days on market $95,000 Active 88 DOM
15. 2026-03-04
    listed $95,000 Active
16. 2026-02-14
    historical
17. 2025-08-15
    listed $95,000 Active
18. 2012-07-25
    soldstatus $25,000

ⓘ 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: $308 · $26/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$547/yr (+$46/mo · 177.6%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 18 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: $12,233
• − Mortgage interest: −$5,321
• − Property taxes: −$308
• − Insurance: −$475
• − Repairs & maintenance: −$979
• − Management: −$979
• − HOA: −$252
• − Depreciation: −$2,764
• Taxable income: $1,156
• Est. tax owed @ 24.0%: −$277
• After-tax cash flow: $2,374/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): 31,416
• Household income: $51,820
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2579.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 55% Black 16% Two or more races 13% Hispanic / Latino 10% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 14% · Canada, Philippines
• Languages at home: 83% English-only · Spanish 8% Other Asian/Pacific 5% Other Indo-European 1%

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: ▼ -98.51%
• Current HPI: 215.3642
• Rent YoY: ▲ 0.74%
• 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

+280.0% since first listed

4 events — show timeline

• 2026-03-04 Listed $95,000 MLS Technology, Inc.
• 2026-02-14 Listing Removed — MLS Technology, Inc.
• 2025-08-15 Listed $95,000 MLS Technology, Inc.
• 2012-07-25 Sold (Public Records) $25,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $308 · +3.4% YoY. Source: county tax records.