1521 E Reading St · Tulsa, OK 74106

$100,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 6 Days on market

Built 1940 Est $120k · 17% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Appreciation +2.7/10.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0

Listing remarks MLS

Investment Property.

Key facts

• Huge backyard
• Built 1940
• Listed 6 days

Tags

• NEWLY RENOVATED KITCHEN
• HUGE BACKYARD

Property features AI

Exterior

• Home design: Built in 1940
• Construction: Living area approximately 1,056
• Exterior features: Located in the United Neighborhood of Springdale

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 11.3% 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 rising (+3.5%/yr); 137 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,818 units permitted in Tulsa County in 2024 (518 in 5+ unit buildings).
• This rent runs 39% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 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.
• At projected returns (-3.0% appreciation + 3.5% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 23y 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.
• Current owner paid $19k; list at $100k implies a 419% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1940 — 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: 11.28%
• Cash-on-cash: 17.80%
• DSCR: 1.79
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $120,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2126 E Queen Pl	0.56mi	3/2.0	1,032 (-2%)	14mo	$163,047	$158	54
2142 E Seminole St	0.60mi	3/1.0	1,152 (+9%)	7mo	$125,000	$109	51
2027 N Quaker Ave	0.30mi	3/2.0	1,145 (+8%)	22mo	$169,000	$148	50
2419 N Quincy Ave	0.58mi	3/1.0	968 (-8%)	13mo	$110,000	$114	48
2245 N Victor Ave	0.53mi	3/1.0	972 (-8%)	20mo	$62,500	$64	46
1516 N Xanthus Ave	0.44mi	2/1.0 (-1)	1,206 (+14%)	9mo	$90,000	$75	44
757 E Seminole St	0.61mi	3/2.0	1,140 (+8%)	13mo	$170,000	$149	43
2130 E Oklahoma Pl	0.63mi	3/1.0	1,188 (+12%)	11mo	$84,000	$71	40
1819 N Xanthus Ave	0.43mi	2/1.0 (-1)	914 (-13%)	15mo	$35,000	$38	40
2003 N Norfolk Ave	0.42mi	3/2.0	1,171 (+11%)	22mo	$190,000	$162	40
2202 E Tecumseh St	0.61mi	3/1.0	1,206 (+14%)	12mo	$75,000	$62	38
1730 E Marshall Pl	0.59mi	3/2.0	1,180 (+12%)	17mo	$230,000	$195	34

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 · 3.54% rent growth · sell at horizon

5-year hold

• IRR: 9.9%
• Equity multiple: 1.39×
• Total profit: $10,958
• Equity at exit: $14,910

10-year hold

• IRR: 19.4%
• Equity multiple: 2.66×
• Total profit: $46,564
• Equity at exit: $8,646

Cash invested: $28,000 (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 74106

• Home prices YoY: -2.5%
• Rents YoY: 3.5%
• Active inventory: 137
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$524
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $415

Break-even live

Break-even rent $807

Max offer price $100,000

Occupancy floor 64%

Sensitivity live

Price	-10% $472	-5% $444	+0% $415	+5% $387	+10% $359
Rent	-10% $310	-5% $363	+0% $415	+5% $468	+10% $520
Rate	-1.0pp $466	-0.5pp $441	base $415	+0.5pp $389	+1.0pp $363

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1025 N Quincy Ave Unit A Tulsa, OK	3.0	2.0	1303	$1,450	$1.11	25d	1	0.78mi
1623 N Atlanta Ave Tulsa, OK	3.0	1.0	975	$1,175	$1.21	4d	1	0.83mi
1807 N Atlanta Ave Tulsa, OK	3.0	1.0	812	$995	$1.23	25d	1	0.83mi
1005 N Quincy Ave Unit A Tulsa, OK	3.0	2.0	1303	$1,450	$1.11	4d	1	0.84mi
1036 N Madison Ave Tulsa, OK	2.0	1.0	800	$1,100	$1.38	25d	1	0.92mi
1008 E King Pl Tulsa, OK	3.0	1.0	1284	$1,295	$1.01	3d	1	0.92mi
2144 N Garrison Pl Tulsa, OK	2.0	1.0	832	$1,050	$1.26	17d	1	0.92mi
1928 N Columbia Pl Tulsa, OK	2.0	1.0	888	$1,000	$1.13	17d	1	1.12mi
1816 N Delaware Pl Tulsa, OK	3.0	1.0	990	$950	$0.96	4d	1	1.23mi
238 E Young Pl Unit A Tulsa, OK	3.0	2.0	1020	$1,550	$1.52	17d	1	1.31mi
238 E Young Pl Unit B Tulsa, OK	3.0	2.0	1000	$1,700	$1.70	25d	1	1.31mi
205 E Marshall St Tulsa, OK	3.0	2.0	1452	$1,725	$1.19	25d	1	1.36mi
1462 N College Ave Tulsa, OK	3.0	1.0	1150	$1,250	$1.09	25d	1	1.43mi
720 N Columbia Ave Tulsa, OK	3.0	1.0	1233	$1,150	$0.93	4d	1	1.49mi

Listing history 6 events

1. 2026-06-18
   days on market $100,000 Active 6 DOM
2. 2026-06-17
   days on market $100,000 Active 5 DOM
3. 2026-06-16
   days on market $100,000 Active 4 DOM
4. 2026-06-15
   days on market $100,000 Active 3 DOM
5. 2026-06-13
   remarks 58-char remark
6. 2026-06-13
   listed $100,000 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: $853 · $71/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: +$47/yr (+$4/mo · 5.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,986
• − Mortgage interest: −$5,602
• − Property taxes: −$853
• − Insurance: −$500
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$2,909
• Taxable income: $3,565
• Est. tax owed @ 24.0%: −$856
• After-tax cash flow: $4,128/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): 15,655
• Household income: $40,776
• Rent vs Own: 53.7% rent · 46.3% own
• Severe rent burden: 1055.0

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 0.65)
• Race & ethnicity: Black 55% White 17% Hispanic / Latino 14% Two or more races 13% Native American 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Romanian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 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: ▼ -4.58%
• Current HPI: 179.5268
• Rent YoY: ▲ 3.54%
• 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

+900.0% since first listed

28 events — show timeline

• 2026-06-13 Listed $100,000 FSBO.com
• 2019-02-04 Sold (MLS) $19,250 MLS Technology, Inc.
• 2019-01-17 Pending — MLS Technology, Inc.
• 2019-01-09 Listed $23,900 MLS Technology, Inc.
• 2011-09-26 Sold (MLS) $12,000 MLS Technology, Inc.
• 2011-08-03 Listing Removed — MLS Technology, Inc.
• 2011-07-19 Listing Removed — MLS Technology, Inc.
• 2011-07-13 Listed $15,500 MLS Technology, Inc.
• 2011-03-19 Listed $49,900 MLS Technology, Inc.
• 2011-03-15 Listing Removed — MLS Technology, Inc.
• 2010-09-14 Listed $49,900 MLS Technology, Inc.
• 2006-11-09 Sold (Public Records) $42,500 Public Records
• 2006-06-29 Sold (MLS) $25,000 MLS Technology, Inc.
• 2006-03-16 Listing Removed — MLS Technology, Inc.
• 2006-03-16 Listed $25,900 MLS Technology, Inc.
• 2006-01-23 Listing Removed — MLS Technology, Inc.
• 2005-08-26 Listed $34,900 MLS Technology, Inc.
• 2005-02-06 Listing Removed — MLS Technology, Inc.
• 2004-11-08 Listed $41,500 MLS Technology, Inc.
• 2004-10-20 Listing Removed — MLS Technology, Inc.
• 2004-04-22 Listed $56,500 MLS Technology, Inc.
• 2003-08-07 Sold (Public Records) $54,500 Public Records
• 2003-08-01 Sold (MLS) $54,500 MLS Technology, Inc.
• 2003-05-22 Listing Removed — MLS Technology, Inc.
• 2003-04-24 Listed $54,900 MLS Technology, Inc.
• 2003-02-28 Sold (MLS) $8,500 MLS Technology, Inc.
• 2003-02-04 Listing Removed — MLS Technology, Inc.
• 2003-02-03 Listed $10,000 MLS Technology, Inc.

Property tax history

+1.3%/yr

Latest (2025): $853 · +8.7% YoY. Source: county tax records.