6242 N Cheyenne Ave · Tulsa, OK 74126

$90,000

3 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 5 Days on market

Built 1968 0.33 ac lot Est $111k · 19% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.3/10.0
• Schools +0.8/10.0

Listing remarks

This 3-bedroom, 1-bath home offers central heat and air, a functional floor plan, and plenty of potential. Included in the sale is the vacant lot nextdoor, providing additional space for outdoor enjoyment, future possibilities, or added privacy. Whether you're a first-time buyer looking for an affordable place to call home or an investor seeking your next opportunity, this property offers a unique combination of value and flexibility. Conveniently located with easy access to schools, shopping, and major roadways. Come see the possibilities for yourself! Photos coming soon!

Key facts

• Added privacy
• Central heat and air
• Outdoor enjoyment

Tags

• CENTRAL HEAT AND AIR
• FUNCTIONAL FLOOR PLAN
• VACANT LOT NEXTDOOR
• OUTDOOR ENJOYMENT
• ADDED PRIVACY
• EASY ACCESS TO SCHOOLS

Property features AI

Finance

• Other: Homestead exemption on file; Property listed as occupied; No conditions affecting sale
• Financial info: Loan qualification allowed
• HOA & community: No mandatory association dues

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: No specific utilities provided
• Home design: Single family residence; One story; Residential property; Existing property
• Construction: Frame construction; Composition roof; Built on combination foundation
• Exterior features: Covered porch; Porch; Outbuildings; Interior lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating
• Interior features: One living area; No fireplace; Combination foundation
• Laundry & utility: No laundry or utility details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 14.0% 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: 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.
• Zoned schools: Mclain Hs For Science And Tech (math 2% / reading 2%, grade F, #445 of 447 statewide, top 100%, 763 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 70 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 40% of the median local income ($42k/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 $622 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 + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $46k; list at $90k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1968 — 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: 1.57% ✓
• Cap rate: 14.03%
• Cash-on-cash: 27.64%
• DSCR: 2.23
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $110,544
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14 E 63rd St	0.18mi	3/1.0	1,176 (0%)	10mo	$54,800	$47	84
6365 N Denver Ave	0.18mi	3/2.0	1,152 (-2%)	2mo	$145,000	$126	83
6340 N Denver Ave	0.13mi	3/2.0	1,119 (-5%)	1mo	$190,000	$170	81
325 W 62nd Pl N	0.10mi	4/1.5 (+1)	1,236 (+5%)	4mo	$143,000	$116	76
6412 N Main St	0.27mi	4/1.0 (+1)	1,128 (-4%)	8mo	$55,000	$49	68
6375 N Cheyenne Ave	0.21mi	3/2.0	1,233 (+5%)	12mo	$115,000	$93	68
5708 N Detroit Ave	0.61mi	4/1.0 (+1)	1,176 (0%)	14mo	$110,000	$94	55
448 E 59th Pl N	0.65mi	3/1.0	1,000 (-15%)	0mo	$75,000	$75	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 1.89×
• Total profit: $22,358
• Equity at exit: $13,419

10-year hold

• IRR: 29.8%
• Equity multiple: 3.66×
• Total profit: $66,956
• Equity at exit: $7,782

Cash invested: $25,200 (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 74126

• Home prices YoY: -2.9%
• Active inventory: 70
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,417 high
• Mortgage (P&I): −$472
• Tax from tax record: −$30 /mo · $358/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $580

Break-even live

Break-even rent $683

Max offer price $90,000

Occupancy floor 54%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6308 N Boulder Ave Unit A Tulsa, OK	3.0	2.0	1200	$1,500	$1.25	1d	1	0.09mi
5731 N Garrison Pl Tulsa, OK	3.0	1.0	912	$925	$1.01	1d	1	0.94mi
5618 N Garrison Pl Tulsa, OK	3.0	1.0	904	$1,100	$1.22	21d	1	1.00mi
5519 N Garrison Pl Tulsa, OK	3.0	1.0	1076	$1,200	$1.12	21d	1	1.09mi
5510 N Johnstown Ave Tulsa, OK	3.0	1.0	972	$995	$1.02	1d	1	1.23mi
636 E 49th Pl N Tulsa, OK	3.0	1.0	1152	$1,000	$0.87	14d	1	1.47mi

Listing history 5 events

1. 2026-06-18
   days on market $90,000 Active 5 DOM
2. 2026-06-17
   days on market $90,000 Active 4 DOM
3. 2026-06-16
   days on market $90,000 Active 3 DOM
4. 2026-06-15
   remarks 579-char remark
5. 2026-06-15
   listed $90,000 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: $358 · $30/mo
• Projected year-2 tax: $810 · $67/mo
• Expected delta: +$452/yr (+$38/mo · 126.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% 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: $17,009
• − Mortgage interest: −$5,041
• − Property taxes: −$358
• − Insurance: −$450
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$2,618
• Taxable income: $5,820
• Est. tax owed @ 24.0%: −$1,397
• After-tax cash flow: $5,569/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: Osage County · 26,244 people
• City population: 389,418
• Metro: Tulsa, OK
• Population (ZIP): 9,920
• Household income: $42,172
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 417.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 45% White 26% Hispanic / Latino 14% Two or more races 11% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Iranian 1% Serbian 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 11% Other Asian/Pacific 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: ▼ -7.45%
• Current HPI: 253.7105
• Rent YoY: —
• 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

+91.5% since first listed

6 events — show timeline

• 2026-06-13 Listed $90,000 MLSOK
• 2022-05-26 Sold (Public Records) $46,500 Public Records
• 2007-11-09 Listing Removed — MLS Technology, Inc.
• 2007-05-08 Listed $47,500 MLS Technology, Inc.
• 2007-04-30 Listing Removed — MLS Technology, Inc.
• 2006-10-29 Listed $47,000 MLS Technology, Inc.

Property tax history

+13.0%/yr

Latest (2025): $358 · +8.8% YoY. Source: county tax records.