3601 NW 15th St · Oklahoma City, OK 73107

$109,000

2 bd · 1.0 ba · 740 sqft · SingleFamily public records · 3 Days on market

Built 1947 9,261 sqft lot Est $127k · 14% under

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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 +15.7/30.0
• ARV discount +13.7/15.0
• DSCR +4.8/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SMALL 2 BED 1 BATH 1 CAR GARAGE, LARGE WOODED LOT, NEED SOME COSMETIC, GOOD FOR FIRST TIME HOME BUYER OR INVESTER.

Key facts

• 9,261 sq ft lot
• Built 1947
• Listed 3 days

Property features AI

Finance

• Other: Homestead exemption indicated
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Security: Smoke alarm
• Utilities: Public utilities; Double glazed windows
• Home design: Single family residence; One level entry
• Construction: Vinyl siding; Composition roof (replaced/updated 2024); Slab foundation
• Exterior features: Covered porch; Interior lot; Wood fencing

Interior

• Kitchen: Free‑standing gas range; Oven (free‑standing)
• Bedrooms: 3 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bath
• Heating & cooling: Other heating; Window unit(s) for cooling
• Interior features: Ceiling fan(s); Disposal; Microwave; Refrigerator; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $48 ($576/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (16.2% below list).
• Recommended offer: $91k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: Buchanan Es (math 2% / reading 2%, grade F, #802 of 845 statewide, top 100%, 479 students, 0% FRL); Taft Ms (math 2% / reading 5%, grade F, #330 of 345 statewide, top 96%, 1,045 students, 0% FRL); Northwest Classen Hs (math 5% / reading 10%, grade F, #420 of 447 statewide, top 95%, 1,702 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 (+7.3%/yr); 221 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 27y 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 $14k; list at $109k implies a 679% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• 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 $91,326 (16.2% below list)

Questions for the listing agent

1. Built in 1947 — 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. 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?
6. 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.
7. 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.
8. 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: 0.84% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $126,540
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3221 NW 15th St	0.44mi	2/1.0	764 (+3%)	4mo	$133,000	$174	70
3517 NW 20th St	0.36mi	2/1.0	780 (+5%)	6mo	$125,000	$160	69
3732 NW Liberty St	0.34mi	2/1.0	711 (-4%)	10mo	$129,000	$181	69
3609 NW 11th St	0.31mi	2/1.0	834 (+13%)	10mo	$132,500	$159	56
3933 NW Liberty St	0.52mi	2/1.0	756 (+2%)	21mo	$94,000	$124	54
3926 NW 13th St	0.46mi	1/1.0 (-1)	714 (-4%)	20mo	$84,000	$118	51
1727 N Sapulpa Ave	0.59mi	2/1.0	845 (+14%)	2mo	$99,500	$118	47
4125 NW 13th St	0.70mi	2/1.0	797 (+8%)	12mo	$150,000	$188	45
3819 NW 10th St	0.52mi	2/1.0	838 (+13%)	16mo	$143,500	$171	40
3905 NW 23rd St	0.70mi	2/1.0	832 (+12%)	9mo	$142,000	$171	39
4028 NW 11th St	0.66mi	3/1.0 (+1)	850 (+15%)	2mo	$148,500	$175	37
4121 NW 13th St	0.69mi	2/1.0	840 (+14%)	23mo	$137,900	$164	26

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 · 7.29% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.65×
• Total profit: $-10,530
• Equity at exit: $16,252

10-year hold

• IRR: 5.0%
• Equity multiple: 1.43×
• Total profit: $13,060
• Equity at exit: $9,424

Cash invested: $30,520 (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 73107

• Rents YoY: 7.3%
• Active inventory: 221
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $913 high
• Mortgage (P&I): −$572
• Tax from tax record: −$56 /mo · $678/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $48

Break-even live

Break-even rent $853

Max offer price $109,000

Occupancy floor 90%

Sensitivity live

Price	-10% $110	-5% $79	+0% $48	+5% $17	+10% $-14
Rent	-10% $-24	-5% $12	+0% $48	+5% $84	+10% $120
Rate	-1.0pp $103	-0.5pp $76	base $48	+0.5pp $20	+1.0pp $-9

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3403 NW 17th St Unit B Oklahoma City, OK	1.0	1.0	572	$1,050	$1.84	45d	1	0.26mi
3224 NW 13th St Oklahoma City, OK	2.0	1.0	640	$900	$1.41	16d	1	0.44mi
3205 NW 14th St Unit b Oklahoma City, OK	1.0	1.0	613	$850	$1.39	5d	1	0.47mi
3114 NW 12th St Unit 1 Oklahoma City, OK	1.0	1.0	567	$795	$1.40	5d	1	0.64mi
2946 NW 13th St Oklahoma City, OK	1.0	1.0	624	$725	$1.16	13d	1	0.76mi
4220 NW 10th St Unit 28A Oklahoma City, OK	1.0	1.0	680	$715	$1.05	25d	1	0.95mi
4220 NW 10th St Oklahoma City, OK	1.0–2.0	1.0	730	$845	$1.16	6d	11	0.95mi
4220 NW 10th St Unit 15G Oklahoma City, OK	1.0	1.0	600	$710	$1.18	25d	1	0.95mi
3033 N Grand Blvd Oklahoma City, OK	1.0	1.0	672	$675	$1.00	3d	1	1.06mi
2645 NW 13th St Unit A Oklahoma City, OK	1.0	1.0	700	$600	$0.86	23d	1	1.14mi
3175 N Portland Ave Oklahoma City, OK	1.0	1.0	700	$834	$1.19	16d	1	1.14mi
3175 N Portland Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	809	$960	$1.19	17d	3	1.14mi
2943 Pioneer Ave Unit 2943 Oklahoma City, OK	1.0	1.0	643	$895	$1.39	4d	1	1.16mi
1309 N Meridian Ave Oklahoma City, OK	1.0–2.0	1.0–1.5	925	$975	$1.05	4d	4	1.21mi
2748 NW 23rd St Unit 5 Oklahoma City, OK	1.0	1.0	511	$650	$1.27	25d	1	1.22mi
800 N Meridian Ave Oklahoma City, OK	1.0	1.0	525	$749	$1.43	6d	1	1.28mi
800 N Meridian Ave Oklahoma City, OK	1.0–3.0	1.0–2.0	912	$829	$0.91	25d	1	1.28mi
2526 1/2 NW 12th St Oklahoma City, OK	1.0	1.0	715	$900	$1.26	45d	1	1.33mi
2531 W Park Pl Oklahoma City, OK	1.0	1.0	716	$725	$1.01	5d	1	1.34mi
3116 NW 32nd St Oklahoma City, OK	2.0	1.0	720	$950	$1.32	5d	1	1.34mi
2436 NW 12th St Unit 1211 Oklahoma City, OK	1.0	1.0	684	$850	$1.24	23d	1	1.41mi

Listing history 16 events

1. 2026-05-15
   status Pending
2. 2026-05-12
   listed $109,000 Active
3. 2026-04-09
   historical $999
4. 2026-03-28
   listed $999
5. 2025-03-09
   historical $999
6. 2025-01-31
   price $999
7. 2024-10-24
   price $1,025
8. 2024-10-10
   price $1,049
9. 2024-08-01
   price $1,199
10. 2024-06-08
    price $1,299
11. 2024-06-06
    listed $1,075
12. 2024-03-14
    historical $950
13. 2023-12-04
    price $950
14. 2023-12-02
    listed $800
15. 1999-07-21
    soldstatus $14,000 114-char remark

    Show marketing remark (114 chars)

    SMALL 2 BED 1 BATH 1 CAR GARAGE, LARGE WOODED LOT, NEED SOME COSMETIC, GOOD FOR FIRST TIME HOME BUYER OR INVESTER.

16. 1999-04-22
    listed $22,500 114-char remark

    Show marketing remark (114 chars)

    SMALL 2 BED 1 BATH 1 CAR GARAGE, LARGE WOODED LOT, NEED SOME COSMETIC, GOOD FOR FIRST TIME HOME BUYER OR INVESTER.

ⓘ 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: $678 · $56/mo
• Projected year-2 tax: $981 · $82/mo
• Expected delta: +$303/yr (+$25/mo · 44.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $10,959
• − Mortgage interest: −$6,106
• − Property taxes: −$678
• − Insurance: −$545
• − Repairs & maintenance: −$877
• − Management: −$877
• − Depreciation: −$3,171
• Taxable loss: −$1,294
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $886/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): 25,791
• Household income: $56,873
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 1210.0

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 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 13% Native American 6% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 19% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 30% Vietnamese 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: ▼ -245.03%
• Current HPI: 274.7844
• Rent YoY: ▲ 7.29%
• 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

+384.4% since first listed

16 events — show timeline

• 2026-05-15 Pending — MLSOK
• 2026-05-12 Listed $109,000 MLSOK
• 2026-04-09 Rental Removed $999 RentEngineListings
• 2026-03-28 Listed for Rent $999 RentEngineListings
• 2025-03-09 Rental Removed $999 APPFOLIO
• 2025-01-31 Price Changed $999 APPFOLIO
• 2024-10-24 Price Changed $1,025 APPFOLIO
• 2024-10-10 Price Changed $1,049 APPFOLIO
• 2024-08-01 Price Changed $1,199 APPFOLIO
• 2024-06-08 Price Changed $1,299 APPFOLIO
• 2024-06-06 Listed for Rent $1,075 APPFOLIO
• 2024-03-14 Rental Removed $950 APPFOLIO
• 2023-12-04 Price Changed $950 APPFOLIO
• 2023-12-02 Listed for Rent $800 APPFOLIO
• 1999-07-21 Sold (MLS) $14,000 MLSOK
• 1999-04-22 Listed $22,500 MLSOK

Property tax history

+5.7%/yr

Latest (2025): $678 · +4.1% YoY. Source: county tax records.