6168 S Madison Pl Unit B · Tulsa, OK 74136

$81,500

2 bd · 1.5 ba · 954 sqft · Condo · 51 Days on market

Built 1968 Fair condition $250/mo HOA · 24% of rent

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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).

• Cash flow +12.8/30.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly renovated 2 Bedroom condo with fresh paint and carpet with close access to Riverside Park and trails. Two bedrooms upstairs with a full bath. Downstairs is tiled throughout living and dining area and kitchen that boasts granite counters. There is a convenient powder room on the first level and stacked washer and dryer. An impressive fenced and covered patio provides a space for outdoor living. This small private community has charming front courtyards and a neighborhood pool. AC condenser, hot water tank, oven, microwave and dishwasher new in 2022. The roof is less that one year old.

Key facts

• Fenced patio
• Tile flooring
• Granite countertops

Tags

• PRIME LOCATION
• SCENIC WALKING BIKING TRAILS
• TILE FLOORING
• GRANITE COUNTERTOPS
• FENCED PATIO
• NEIGHBORHOOD POOL

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Homeowners association (monthly fee); Association fee $250 per month; HOA covers structure maintenance, sewer, trash and water; Community pool

Exterior

• Security: Smoke detector(s); No safety shelter
• Utilities: Electricity available; Natural gas available; Public water; Public sewer
• Home design: 2-story building; Faces north; Slab foundation
• Construction: Brick veneer and wood siding over wood frame construction; Asphalt/fiberglass roof
• Exterior features: Covered, enclosed patio; Privacy fencing; Sidewalks (community)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Refrigerator; Granite and laminate counters
• Bedrooms: Bedroom on second level (no bath)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Aluminum frame windows with storm windows; Insulated doors with storm door(s); Granite counters; Laminate counters; Gas range connection
• Laundry & utility: Washer hookup; Dryer hookup (electric); Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $82k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-7 ($-84/yr) — negative.
• To cash-flow at today's rent, offer at most $80k (1.2% below list).
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $79k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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 flat; 172 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $563 of loan paydown is wiped out by about $2k 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 51 days — a 3% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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: HOA is 24% of rent.
• 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 $79,055 (3.0% 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. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.25% ✓
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 6.7

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: -20.4%
• Equity multiple: 0.31×
• Total profit: $-15,755
• Equity at exit: $12,152

10-year hold

• IRR: -22.7%
• Equity multiple: 0.01×
• Total profit: $-22,509
• Equity at exit: $7,047

Cash invested: $22,820 (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: 172
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,020 high
• Mortgage (P&I): −$427
• Tax est. 1.5%: −$102 /mo · $1,222/yr
• Insurance: −$34
• HOA: −$250
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $-7

Break-even live

Break-even rent $1,029

Max offer price $80,482

Occupancy floor 96%

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: $20,375
• Closing costs: $2,445
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
910 E 61st St Tulsa, OK	1.0	1.0	700	$926	$1.32	3d	1	0.07mi
6345 S Madison Pl Unit 1 Tulsa, OK	3.0	2.0	1080	$1,100	$1.02	3d	1	0.16mi
1110 E 60th St Tulsa, OK	1.0–2.0	1.0–2.0	794	$1,069	$1.35	3d	4	0.29mi
1329 E 64th St Tulsa, OK	1.0–2.0	1.0	624	$1,149	$1.84	1d	2	0.40mi
1337 E 61st St Tulsa, OK	1.0–2.0	1.0	700	$1,051	$1.50	3d	14	0.43mi
6642 S Peoria Ave Tulsa, OK	1.0–2.0	1.0	712	$1,100	$1.54	11d	2	0.48mi
1320 E 58th St Tulsa, OK	1.0	1.0	980	$1,200	$1.22	21d	1	0.48mi
1037 E 57th Pl #5 Tulsa, OK	1.0	1.5	1088	$1,100	$1.01	23d	1	0.49mi
5630 S Peoria Ave Unit 5630B-P Tulsa, OK	1.0	1.0	650	$925	$1.42	3d	1	0.54mi
6732 S Peoria Ave Tulsa, OK	1.0–2.0	1.0–2.0	810	$926	$1.14	2d	4	0.55mi
5628 S Peoria Ave Unit 5628A-P Tulsa, OK	2.0	2.0	950	$1,100	$1.16	3d	1	0.55mi
5624 S Peoria Ave Unit 5624C-P Tulsa, OK	2.0	1.0	850	$1,000	$1.18	3d	1	0.57mi
7901 Riverside Pkwy Tulsa, OK	2.0	2.0	950	$884	$0.93	3d	16	0.59mi
5620 S Quaker Ave Unit 5620D-Q Tulsa, OK	1.0	1.0	650	$999	$1.54	23d	1	0.63mi
5607 S Quaker Ave Unit 5607D-Q Tulsa, OK	2.0	2.0	950	$1,100	$1.16	3d	1	0.70mi
6105 S Troost Ave Tulsa, OK	2.0	2.0	1124	$1,300	$1.16	23d	1	0.74mi
6639 S Victor Ave Unit G203 Tulsa, OK	1.0	1.0	800	$850	$1.06	23d	1	0.93mi
6639 S Victor Ave Unit G208 Tulsa, OK	1.0	1.0	800	$850	$1.06	16d	1	0.94mi
1802 E 66th Pl Tulsa, OK	1.0–2.0	1.0–2.0	695	$1,100	$1.58	21d	3	0.98mi
1802 E 66th Pl Tulsa, OK	1.0–2.0	1.0–2.0	562	$995	$1.77	3d	1	0.98mi
1804 E 66th Pl Unit E108 Tulsa, OK	1.0	1.0	562	$850	$1.51	23d	1	0.99mi
6760 S Trenton Pl Tulsa, OK	1.0	1.0	700	$745	$1.06	23d	1	1.03mi
6760 S Trenton Pl Tulsa, OK	2.0	2.0	900	$900	$1.00	10d	1	1.03mi
5101 S Madison Ave Tulsa, OK	1.0–2.0	1.0	780	$1,150	$1.47	1d	2	1.07mi
5121 S Madison Ave Tulsa, OK	3.0	1.5	1048	$1,550	$1.48	11d	1	1.09mi
6630 S Zunis Ave Tulsa, OK	1.0–3.0	1.0–2.0	1000	$1,044	$1.04	1d	12	1.12mi
2218 E 59th St Tulsa, OK	1.0–2.0	1.0	787	$1,199	$1.52	3d	4	1.20mi
1818 E 71st St Tulsa, OK	2.0	1.0–2.0	700	$1,062	$1.52	1d	37	1.24mi
5151 S Utica Ave Tulsa, OK	1.0–2.0	1.0	799	$838	$1.05	1d	1	1.30mi
2409 E 59th Ct Unit 2433-4 Tulsa, OK	1.0	1.0	565	$675	$1.19	19d	1	1.31mi
6609 S Lewis Ave Tulsa, OK	1.0	1.0	600	$816	$1.36	2d	5	1.32mi
7224 S Elwood Ave Tulsa, OK	1.0–2.0	1.0–2.0	948	$1,790	$1.89	1d	6	1.35mi
737 W 71st St S Tulsa, OK	1.0–2.0	1.0	920	$1,000	$1.09	14d	12	1.41mi
737 W 71st St S Unit 102 Tulsa, OK	2.0	1.0	869	$900	$1.04	23d	1	1.41mi
737 W 71st St S Unit 108 Tulsa, OK	2.0	1.0	869	$1,000	$1.15	23d	1	1.41mi
5009 S Troost Ave Tulsa, OK	2.0	1.0	886	$1,400	$1.58	23d	1	1.43mi
1514 E 49th St Tulsa, OK	3.0	1.0	980	$1,295	$1.32	16d	1	1.47mi
4740 S Boston Ave Tulsa, OK	2.0	1.0	839	$1,475	$1.76	3d	1	1.48mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $81,500 Active 51 DOM
2. 2026-06-17
   days on market $81,500 Active 50 DOM
3. 2026-06-16
   days on market $81,500 Active 49 DOM
4. 2026-06-15
   days on market $81,500 Active 48 DOM
5. 2026-06-13
   days on market $81,500 Active 46 DOM
6. 2026-06-10
   days on market $81,500 Active 43 DOM
7. 2026-06-09
   days on market $81,500 Active 42 DOM
8. 2026-06-08
   days on market $81,500 Active 41 DOM
9. 2026-06-07
   days on market $81,500 Active 40 DOM
10. 2026-06-05
    days on market $81,500 Active 37 DOM
11. 2026-06-03
    days on market $81,500 Active 36 DOM
12. 2026-06-02
    days on market $81,500 Active 35 DOM
13. 2026-06-01
    days on market $81,500 Active 34 DOM
14. 2026-05-31
    days on market $81,500 Active 33 DOM
15. 2026-05-19
    price $81,500
16. 2026-05-09
    price $83,500
17. 2026-04-28
    listed $85,000 Active
18. 2024-02-21
    soldstatus $72,900 Closed 597-char remark

    Show marketing remark (597 chars)

    Newly renovated 2 Bedroom condo with fresh paint and carpet with close access to Riverside Park and trails. Two bedrooms upstairs with a full bath. Downstairs is tiled throughout living and dining area and kitchen that boasts granite counters. There is a convenient powder room on the first level and stacked washer and dryer. An impressive fenced and covered patio provides a space for outdoor living. This small private community has charming front courtyards and a neighborhood pool. AC condenser, hot water tank, oven, microwave and dishwasher new in 2022. The roof is less that one year old.

19. 2024-01-19
    status Pending 597-char remark

    Show marketing remark (597 chars)

    Newly renovated 2 Bedroom condo with fresh paint and carpet with close access to Riverside Park and trails. Two bedrooms upstairs with a full bath. Downstairs is tiled throughout living and dining area and kitchen that boasts granite counters. There is a convenient powder room on the first level and stacked washer and dryer. An impressive fenced and covered patio provides a space for outdoor living. This small private community has charming front courtyards and a neighborhood pool. AC condenser, hot water tank, oven, microwave and dishwasher new in 2022. The roof is less that one year old.

20. 2024-01-16
    price $72,900 597-char remark

    Show marketing remark (597 chars)

    Newly renovated 2 Bedroom condo with fresh paint and carpet with close access to Riverside Park and trails. Two bedrooms upstairs with a full bath. Downstairs is tiled throughout living and dining area and kitchen that boasts granite counters. There is a convenient powder room on the first level and stacked washer and dryer. An impressive fenced and covered patio provides a space for outdoor living. This small private community has charming front courtyards and a neighborhood pool. AC condenser, hot water tank, oven, microwave and dishwasher new in 2022. The roof is less that one year old.

21. 2023-12-12
    listed $75,000 Active 597-char remark

    Show marketing remark (597 chars)

    Newly renovated 2 Bedroom condo with fresh paint and carpet with close access to Riverside Park and trails. Two bedrooms upstairs with a full bath. Downstairs is tiled throughout living and dining area and kitchen that boasts granite counters. There is a convenient powder room on the first level and stacked washer and dryer. An impressive fenced and covered patio provides a space for outdoor living. This small private community has charming front courtyards and a neighborhood pool. AC condenser, hot water tank, oven, microwave and dishwasher new in 2022. The roof is less that one year old.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $12,246
• − Mortgage interest: −$4,565
• − Property taxes: −$1,222
• − Insurance: −$408
• − Repairs & maintenance: −$980
• − Management: −$980
• − HOA: −$3,000
• − Depreciation: −$2,371
• Taxable loss: −$1,280
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $223/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This moderately rehabbed condo requires some interior and exterior updates to enhance its value. Fresh paint and new carpet on the staircase are the most immediate needs.

Repairs flagged

• Minor Staircase carpet — Worn but not frayed
• Minor Staircase handrail — Worn but not loose

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpet on staircase — New carpet improves comfort and reduces maintenance
• Both Replace worn flooring in living areas — Fresh flooring enhances curb appeal and interior aesthetics
• Both Replace worn paint on exterior — Fresh paint enhances curb appeal and exterior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Staircase carpet · Worn but not frayed	Minor	$500–3,000
Staircase handrail · Worn but not loose	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpet on staircase — New carpet improves comfort and reduces maintenance ↑
• Both Replace worn flooring in living areas — Fresh flooring enhances curb appeal and interior aesthetics ↑
• Both Replace worn paint on exterior — Fresh paint enhances curb appeal and exterior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+8.7% since first listed

7 events — show timeline

• 2026-05-19 Price Changed $81,500 MLS Technology, Inc.
• 2026-05-09 Price Changed $83,500 MLS Technology, Inc.
• 2026-04-28 Listed $85,000 MLS Technology, Inc.
• 2024-02-21 Sold (MLS) $72,900 MLS Technology, Inc.
• 2024-01-19 Pending — MLS Technology, Inc.
• 2024-01-16 Price Changed $72,900 MLS Technology, Inc.
• 2023-12-12 Listed $75,000 MLS Technology, Inc.