2109 NE 12th St · Oklahoma City, OK 73117

$110,000

2 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 15 Days on market

Built 1920 7,000 sqft lot Est $116k · 5% under

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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 +25.8/30.0
• ARV discount +9.8/15.0
• DSCR +8.6/10.0
• Appreciation +6.2/10.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

Welcome to this 2-bedroom, 1-bath home located in the heart of Oklahoma City. Offering great potential, this property is move-in ready in its current condition while providing an excellent opportunity for updates and personal touches to make it your own. With solid bones and a functional layout, this home is ideal for first-time buyers, investors, or anyone looking for an affordable property with room to add value. Conveniently located near shopping, dining, schools, and major highways, this is a chance to own a home in a central OKC location at an attractive price.

Key facts

• 7,000 sq ft lot
• Built 1920
• Listed 15 days

Property features AI

Finance

• Other: Listing broker: Black Label Realty; Listing agent: William Mahan
• Financial info: Selling as-is
• HOA & community: No mandatory association dues

Exterior

• Utilities: Homestead exempt (homestead indicated)
• Home design: Single family residence; One level; Existing property; Located in White Orchard Add
• Construction: Vinyl siding; Composition roof; Conventional foundation; Built (existing)
• Exterior features: Interior lot; No additional exterior features listed

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Floor furnace heating; Window unit(s) for cooling
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Douglass Hs (math 2% / reading 2%, grade F, #445 of 447 statewide, top 100%, 556 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: 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($761 loan paydown + $3k appreciation (2.4% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.08% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.39%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $115,938
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1157 E Bellevidere Dr	0.16mi	3/2.0 (+1)	1,037 (+1%)	7mo	$75,000	$72	76
1716 N Highland Dr	0.35mi	3/1.0 (+1)	1,040 (+1%)	7mo	$145,000	$139	71
2509 NE 13th St	0.44mi	3/1.5 (+1)	980 (-4%)	1mo	$155,000	$158	65
1521 NE 11th St	0.56mi	2/1.0	972 (-5%)	4mo	$65,000	$67	62
1542 NE 20th St	0.75mi	2/1.0	981 (-4%)	2mo	$135,000	$138	56
2021 N Page Ave	0.65mi	3/1.0 (+1)	1,005 (-2%)	7mo	$95,000	$95	56
1720 Wickliff St	0.48mi	2/1.5	902 (-12%)	0mo	$100,000	$111	55
2525 NE 14th St	0.49mi	2/1.0	895 (-13%)	4mo	$60,000	$67	53
1908 NE Grand Blvd	0.70mi	3/1.0 (+1)	998 (-3%)	6mo	$85,000	$85	53
1620 NE 12th St	0.45mi	2/2.0	1,170 (+14%)	2mo	$200,000	$171	50
1450 NE 16th Ter	0.70mi	3/1.0 (+1)	1,096 (+7%)	4mo	$135,000	$123	48
1449 NE 14th St	0.64mi	2/1.0	884 (-14%)	2mo	$100,000	$113	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.42% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 1.87×
• Total profit: $26,842
• Equity at exit: $45,886

10-year hold

• IRR: 17.9%
• Equity multiple: 3.47×
• Total profit: $76,000
• Equity at exit: $68,052

Cash invested: $30,800 (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 73117

• Home prices YoY: 1.3%
• Active inventory: 75
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,191 high
• Mortgage (P&I): −$577
• Tax from tax record: −$52 /mo · $618/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $267

Break-even live

Break-even rent $853

Max offer price $110,000

Occupancy floor 73%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 NE 12th St Oklahoma City, OK	3.0	2.0	1180	$1,650	$1.40	21d	1	0.03mi
1217 Carverdale Dr Oklahoma City, OK	2.0	2.0	1323	$1,300	$0.98	43d	1	0.24mi
1321 Bellevidere Dr Oklahoma City, OK	3.0	2.0	1000	$1,200	$1.20	23d	1	0.28mi
1801 E Park Pl Oklahoma City, OK	2.0	1.0	734	$695	$0.95	43d	1	0.34mi
2132 NE 19th St Oklahoma City, OK	2.0	1.0	850	$950	$1.12	43d	1	0.45mi
2520 NE 14th St Oklahoma City, OK	3.0	1.0	1070	$1,099	$1.03	43d	1	0.45mi
1633 NE 11th St Oklahoma City, OK	3.0	2.0	1284	$1,945	$1.51	1d	1	0.46mi
1709 N Page Ave Oklahoma City, OK	2.0	1.0	967	$895	$0.93	23d	1	0.47mi
2143 NE 19th St Oklahoma City, OK	2.0	1.0	1265	$945	$0.75	43d	1	0.47mi
2501 NE 16th St Oklahoma City, OK	2.0	1.0	941	$1,100	$1.17	43d	1	0.48mi
1501 NE Grand Blvd Oklahoma City, OK	3.0	1.0	1204	$1,200	$1.00	4d	1	0.49mi
1706 NE 8th St Oklahoma City, OK	3.0	2.0	1389	$1,345	$0.97	3d	1	0.57mi
2200 Hardin Dr Oklahoma City, OK	3.0	1.0	1091	$1,025	$0.94	43d	1	0.57mi
2107 Hardin Dr Oklahoma City, OK	3.0	1.0	999	$875	$0.88	43d	1	0.59mi
1801 N Jordan Ave Oklahoma City, OK	2.0	1.0	1080	$1,000	$0.93	14d	1	0.61mi
1727 NE 19th St Oklahoma City, OK	3.0	1.0	892	$995	$1.12	43d	1	0.61mi
1609 NE 18th St Oklahoma City, OK	2.0	1.0	899	$900	$1.00	4d	1	0.65mi
1444 NE 13th St Unit 1446 Oklahoma City, OK	2.0	2.0	1167	$1,199	$1.03	17d	1	0.65mi
1722 NE 20th St Oklahoma City, OK	2.0	1.0	800	$1,070	$1.34	43d	1	0.65mi
2308 NE 21st St Oklahoma City, OK	3.0	1.0	1400	$1,250	$0.89	2d	1	0.66mi
2132 Miramar Blvd Oklahoma City, OK	2.0	1.0	768	$800	$1.04	2d	1	0.67mi
1445 NE 10th St Oklahoma City, OK	2.0	1.0	1011	$1,195	$1.18	17d	1	0.71mi
1450 NE 16th Ter Oklahoma City, OK	3.0	1.0	1096	$1,295	$1.18	43d	1	0.71mi
2300 Granada Blvd Oklahoma City, OK	3.0	1.0	999	$1,000	$1.00	11d	1	0.72mi
2620 NE 19th St Oklahoma City, OK	2.0	1.0	900	$995	$1.11	43d	1	0.72mi
2705 NE 18th St Oklahoma City, OK	3.0	2.0	1399	$1,000	$0.71	21d	1	0.73mi
2112 NE 23rd St Oklahoma City, OK	3.0	1.0	1117	$1,070	$0.96	17d	1	0.75mi
2616 NE Success St Oklahoma City, OK	3.0	2.0	1312	$1,350	$1.03	23d	1	0.75mi
1428 NE 10th St Oklahoma City, OK	3.0	2.0	1487	$1,600	$1.08	43d	1	0.75mi
2036 NE Grand Blvd Oklahoma City, OK	2.0	1.0	1092	$995	$0.91	2d	1	0.76mi
1436 NE 8th St Oklahoma City, OK	2.0	1.0	1048	$1,095	$1.04	43d	1	0.80mi
2313 NE 23rd St Oklahoma City, OK	3.0	2.5	1500	$1,095	$0.73	43d	1	0.81mi
2604 NE 21st St Oklahoma City, OK	3.0	1.0	1260	$995	$0.79	23d	1	0.82mi
1148 N Lottie Ave Oklahoma City, OK	2.0	1.0	1040	$1,150	$1.11	3d	1	0.87mi
1812 NE 24th St Oklahoma City, OK	3.0	1.0	1071	$1,175	$1.10	2d	1	0.95mi
1904 NE 25th St Oklahoma City, OK	2.0	1.0	939	$950	$1.01	4d	1	0.98mi
1220 NE 17th St Oklahoma City, OK	2.0	1.0	1100	$1,195	$1.09	43d	1	0.98mi
1931 NE 25th St Unit 10 Oklahoma City, OK	2.0	1.0	900	$875	$0.97	23d	1	0.99mi
1921 NE 25th St Unit 3 Oklahoma City, OK	2.0	1.0	900	$875	$0.97	19d	1	0.99mi
1200 NE 17th St Unit B Oklahoma City, OK	2.0	1.0	1002	$2,100	$2.10	43d	1	1.02mi

Listing history 10 events

1. 2026-06-18
   days on market $110,000 Active 15 DOM
2. 2026-06-17
   days on market $110,000 Active 14 DOM
3. 2026-06-16
   days on market $110,000 Active 13 DOM
4. 2026-06-15
   days on market $110,000 Active 12 DOM
5. 2026-06-13
   days on market $110,000 Active 10 DOM
6. 2026-06-09
   days on market $110,000 Active 6 DOM
7. 2026-06-08
   days on market $110,000 Active 5 DOM
8. 2026-06-07
   days on market $110,000 Active 4 DOM
9. 2026-06-05
   remarks 572-char remark
10. 2026-06-05
    listed $110,000 Active 1 DOM

ⓘ 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: $618 · $52/mo
• Projected year-2 tax: $990 · $82/mo
• Expected delta: +$372/yr (+$31/mo · 60.1%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,292
• − Mortgage interest: −$6,162
• − Property taxes: −$618
• − Insurance: −$550
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$3,200
• Taxable income: $1,476
• Est. tax owed @ 24.0%: −$354
• After-tax cash flow: $2,846/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): 6,225
• Household income: $23,413
• Rent vs Own: 62.2% rent · 37.8% own
• Severe rent burden: 681.0

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 0.56)
• Race & ethnicity: Black 63% White 16% Two or more races 13% Hispanic / Latino 12% Asian 2%
• Hispanic origin (detail): Mexican 10%
• Foreign-born: 10% · Canada, Guatemala, China
• Languages at home: 87% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 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: ▲ 2.42%
• Current HPI: 192.3185
• Rent YoY: —
• 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

7 events — show timeline

• 2026-06-03 Listed $110,000 MLSOK
• 2026-05-31 Rental Removed — Avail
• 2026-05-20 Listed for Rent — Avail
• 2024-04-25 Rental Removed — Avail
• 2024-04-23 Listed for Rent — Avail
• 2024-04-18 Rental Removed — Avail
• 2024-02-13 Listed for Rent — Avail

Property tax history

+14.8%/yr

Latest (2025): $618 · +4.1% YoY. Source: county tax records.