628 SW 28th St · Oklahoma City, OK 73109

$68,000

2 bd · 1.0 ba · 770 sqft · SingleFamily public records · 7 Days on market

Built 1915 7,000 sqft lot Est $79k · 14% under

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Why this score? — see what drove the A- 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 +13.9/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.1/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0

Listing remarks

The College Hill Cottage 628 SW 28th St, Oklahoma City · College Hill Addition $68,000 2 bd - 1 bath - 770 sqft Welcome home to The College Hill Cottage — a lovingly maintained piece of Oklahoma City history, built in 1915 and brimming with the kind of quiet, timeless character that simply can't be replicated. Tucked into the storied College Hill Addition neighborhood, this 2-bedroom ranch carries over a century of stories within its walls, and it's ready to welcome yours. Step onto the charming covered front patio — the perfect perch for your morning coffee or an evening watching the neighborhood come alive. Inside, you'll find a cozy, functional layout featuring carpe

Key facts

• Covered front patio
• Green spaces
• Historical touches

Tags

• COVERED FRONT PATIO
• HISTORICAL TOUCHES
• MOVE IN READY
• GREEN SPACES

Property features AI

Finance

• Other: Property listed as active; Occupied: No
• Financial info: Loan qualification possible; Sale requires court approval
• HOA & community: No mandatory association dues

Exterior

• Utilities: Public utilities
• Home design: Single family residence; One level; Faces north; Residential property; Existing build status; Homestead exempt
• Construction: Brick and frame construction; Composition roof; Combination foundation; Built (existing)
• Exterior features: Front porch; Chain-link fence; Interior lot

Interior

• Kitchen: Free‑standing gas range and oven
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Interior features: Carpet and laminate flooring; No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $68k).
• Cap rate 11.4% 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: Capitol Hill Hs (math 2% / reading 4%, grade F, #444 of 447 statewide, top 99%, 1,455 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 (+4.5%/yr); 85 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 $7k of equity ($470 loan paydown + $7k appreciation (10.0% local appreciation)).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.5% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $17k; list at $68k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — 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 $68,000

Questions for the listing agent

1. Built in 1915 — 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: 1.31% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.30%
• DSCR: 1.81
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $79,310
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
920 SW 26th St	0.38mi	2/1.0	824 (+7%)	9mo	$85,000	$103	63
117 SW 26th St	0.58mi	2/1.0	764 (-1%)	12mo	$136,475	$179	62
3240 S Klein Ave	0.51mi	2/1.0	795 (+3%)	11mo	$135,000	$170	61
825 SW 25th St	0.36mi	2/1.0	850 (+10%)	9mo	$90,000	$106	58
315 SW 32nd St	0.42mi	2/1.0	704 (-9%)	13mo	$41,000	$58	55
801 SW 33rd St	0.38mi	2/1.0	864 (+12%)	11mo	$55,000	$64	53
3121 S Clegern St	0.42mi	2/1.0	864 (+12%)	10mo	$101,000	$117	52
404 SW 38th St	0.71mi	2/1.0	850 (+10%)	4mo	$57,000	$67	46
1116 SW Binkley Ave	0.67mi	2/1.0	708 (-8%)	23mo	$60,000	$85	36

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

Projected returns pro-forma

10.0% appreciation · 4.51% rent growth · sell at horizon

5-year hold

• IRR: 38.6%
• Equity multiple: 3.99×
• Total profit: $56,872
• Equity at exit: $61,260

10-year hold

• IRR: 33.8%
• Equity multiple: 9.19×
• Total profit: $155,847
• Equity at exit: $132,109

Cash invested: $19,040 (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 73109

• Home prices YoY: 9.5%
• Rents YoY: 4.5%
• Active inventory: 85
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $888 high
• Mortgage (P&I): −$357
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $290

Break-even live

Break-even rent $520

Max offer price $68,000

Occupancy floor 62%

Sensitivity live

Price	-10% $329	-5% $310	+0% $290	+5% $271	+10% $252
Rent	-10% $220	-5% $255	+0% $290	+5% $325	+10% $360
Rate	-1.0pp $325	-0.5pp $308	base $290	+0.5pp $273	+1.0pp $255

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 SW 26th St Unit 6 Oklahoma City, OK	1.0	1.0	600	$645	$1.07	13d	1	0.30mi
540 SW 24th St #3 Oklahoma City, OK	1.0	1.0	726	$625	$0.86	45d	1	0.31mi
316 SW 27th St Unit 4 Oklahoma City, OK	1.0	1.0	615	$679	$1.10	13d	1	0.34mi
316 SW 27th St Unit 8 Oklahoma City, OK	1.0	1.0	615	$679	$1.10	45d	1	0.34mi
3407 S Lee Ave Oklahoma City, OK	2.0	1.0	900	$980	$1.09	45d	1	0.36mi
3312 S Harvey Ave Oklahoma City, OK	2.0	1.0	840	$1,100	$1.31	21d	1	0.50mi
3618 S Lee Ave Oklahoma City, OK	1.0	1.0	760	$850	$1.12	45d	1	0.51mi
3616 S Lee Ave Oklahoma City, OK	1.0	1.0	760	$775	$1.02	45d	1	0.51mi
220 SW 34th St Oklahoma City, OK	1.0	1.0	625	$725	$1.16	45d	1	0.61mi
116 SW 23rd St Oklahoma City, OK	1.0	1.0	700	$650	$0.93	45d	1	0.67mi
115 SW 23rd St Oklahoma City, OK	1.0	1.0	750	$575	$0.77	17d	1	0.69mi
3906 S Hudson Ave Oklahoma City, OK	1.0	1.0	700	$750	$1.07	25d	1	0.73mi
900 Hangar Dr Oklahoma City, OK	2.0	1.0–2.0	743	$2,075	$2.79	3d	37	0.73mi
934 Hangar Dr Unit 7 Oklahoma City, OK	1.0	1.0	635	$1,500	$2.36	45d	1	0.74mi
934 Hangar Dr Unit 3 Oklahoma City, OK	2.0	2.0	864	$1,550	$1.79	45d	1	0.74mi
934 Hangar Dr Unit 1 Oklahoma City, OK	1.0	1.0	591	$1,300	$2.20	18d	1	0.74mi
3913 S Harvey Ave Unit 2 Oklahoma City, OK	1.0	1.0	568	$900	$1.58	45d	1	0.77mi
1056 Hangar Dr Oklahoma City, OK	2.0	1.5	844	$2,400	$2.84	45d	1	0.82mi
1329 SW Grand Blvd Oklahoma City, OK	2.0	1.0	858	$1,050	$1.22	45d	1	1.02mi
632 SW 44th St Oklahoma City, OK	2.0	1.0	958	$1,000	$1.04	5d	1	1.06mi
317 SE 24th St Oklahoma City, OK	2.0	1.0	917	$950	$1.04	5d	1	1.12mi
407 SE 25th St Oklahoma City, OK	3.0	1.0	896	$1,275	$1.42	45d	1	1.18mi
1004 SW 45th St Oklahoma City, OK	2.0	1.0	756	$950	$1.26	25d	1	1.22mi
4101 S Shields Blvd Apt 3B Oklahoma City, OK	3.0	2.0	957	$1,025	$1.07	5d	1	1.24mi
4101 S Shields Blvd Unit Shields 3B Oklahoma City, OK	3.0	2.0	957	$1,050	$1.10	25d	1	1.24mi
101 SE 42nd St Unit B Oklahoma City, OK	2.0	1.0	740	$645	$0.87	45d	1	1.25mi
109 SE 42nd St Apt A Oklahoma City, OK	2.0	1.0	800	$799	$1.00	18d	1	1.26mi
1323 S Blackwelder Ave Oklahoma City, OK	2.0	1.0	651	$1,095	$1.68	45d	1	1.37mi
2125 SW 26th St Unit B Oklahoma City, OK	1.0	1.0	800	$700	$0.88	25d	1	1.39mi
526 SE 21st St Oklahoma City, OK	3.0	1.0	1054	$1,150	$1.09	5d	1	1.39mi
620 SW 50th St Oklahoma City, OK	2.0	1.0	977	$1,100	$1.13	3d	1	1.44mi
630 SE 21st St Oklahoma City, OK	3.0	2.0	1000	$1,095	$1.09	45d	1	1.47mi
2140 SW 35th St Oklahoma City, OK	3.0	2.0	976	$1,300	$1.33	45d	1	1.48mi

Listing history 7 events

1. 2026-06-18
   status $68,000 Pending 7 DOM
2. 2026-06-18
   days on market $68,000 Active 7 DOM
3. 2026-06-17
   days on market $68,000 Active 6 DOM
4. 2026-06-16
   days on market $68,000 Active 5 DOM
5. 2026-06-15
   days on market $68,000 Active 4 DOM
6. 2026-06-13
   remarks 680-char remark
7. 2026-06-13
   listed $68,000 Active 2 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: $314 · $26/mo
• Projected year-2 tax: $612 · $51/mo
• Expected delta: +$298/yr (+$25/mo · 95.0%)

ⓘ 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 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,654
• − Mortgage interest: −$3,809
• − Property taxes: −$314
• − Insurance: −$340
• − Repairs & maintenance: −$852
• − Management: −$852
• − Depreciation: −$1,978
• Taxable income: $2,509
• Est. tax owed @ 24.0%: −$602
• After-tax cash flow: $2,882/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): 21,378
• Household income: $43,133
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1473.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 62% Two or more races 24% White 23% Black 9% Native American 5%
• Hispanic origin (detail): Mexican 58%
• Common ancestry: Italian 1% Hispanic 1% Scottish 1%
• Foreign-born: 26% · Canada
• Languages at home: 49% English-only · Spanish 50% Other Asian/Pacific 0%

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: ▲ 23.48%
• Current HPI: 270.5333
• Rent YoY: ▲ 4.51%
• 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

+300.0% since first listed

2 events — show timeline

• 2026-06-11 Listed $68,000 MLSOK
• 1988-01-19 Sold (Public Records) $17,000 Public Records

Property tax history

+4.4%/yr

Latest (2025): $314 · -0.5% YoY. Source: county tax records.