4318 Michigan St · Bartlesville, OK 74006

$150,000

3 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 13 Days on market

Built 1948 0.38 ac lot Est $136k · 10% over

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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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• ARV discount +3.0/15.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2 bedroom, 2 full bath home sits on a spacious . 38 acre fully fenced corner lot. An outdoor lovers paradise starts with a fully fenced front yard & covered front porch. Screened-in back porch with mini fridge, above-ground pool, just in time for summer, with a newly painted deck & newer sand filter, plus a garden area! The fully fenced lot includes a double gate, ideal for RV or boat parking and building a shop. Inside, the remodeled 2019 kitchen is a standout with granite countertops, stainless appliances including a 5-burner gas stove, LG microwave & Samsung refrigerator, apron front sink, updated faucet, & a center island with 3 swivel barstools. The invi

Key facts

• 0.38 acre lot
• 2 garage spots
• Pool

Property features AI

Finance

• HOA & community: Community gutters

Exterior

• Parking: Attached 2-car garage; Boat parking; RV access/parking
• Security: Storm shelter
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; Phone available
• Home design: Single-story home
• Construction: Vinyl siding with wood frame construction; Asphalt/fiberglass roof; Crawlspace foundation; Year built from public records
• Exterior features: Concrete driveway; Rain gutters; Covered deck/enclosed patio/porch; Above-ground pool with liner; Shed(s); Chain link/full privacy fencing; Corner lot; Faces south; Storm shelter

Interior

• Kitchen: Country-style kitchen with island and pantry; Dishwasher; Disposal; Microwave; Oven/Range/Stove; Refrigerator; Gas range connection
• Bedrooms: Master bedroom with private bath and separate closets; Additional bedroom with walk-in closet
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: Two full bathrooms (including master bath with shower-only configuration and a hall/full bath)
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Granite counters; High-speed Internet; Wired for data; Ceiling fan(s); Electric oven connection; Gas range connection; Programmable thermostat; Vinyl insulated windows; Insulated doors; Storm door(s)
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (inside, separate)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/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 $150k (0.1% below list).
• Recommended offer: $150k (0.1% below list) — sets the bar for 1% rule.
• Cap rate 8.5% vs local median 4.7% in Bartlesville — 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 64/100 on livability (#175 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D+, crime D+.
• Bartlesville (town): math 30% / reading 29% proficiency, ranked #59 of 270 in OK (top 22%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 231 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 46 units permitted in Washington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washington County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $149,837 (0.1% below list)

Questions for the listing agent

1. Built in 1948 — 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 D-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 D 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: 1.00% ✗
• Cap rate: 8.51%
• Cash-on-cash: 7.91%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $136,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3816 Indiana St	0.40mi	3/1.0	1,300 (-1%)	3mo	$130,000	$100	78
243 NE Elmhurst Ave	0.16mi	3/1.0	1,200 (-8%)	2mo	$125,000	$104	77
348 N Fenway Ave	0.32mi	3/1.0	1,356 (+3%)	5mo	$139,900	$103	76
328 SE Waverly Ave	0.46mi	3/1.0	1,365 (+4%)	4mo	$144,000	$105	69
420 N Cummings Ave	0.42mi	3/2.0	1,374 (+5%)	4mo	$120,000	$87	65
521 NE Elmhurst Ave	0.45mi	3/1.0	1,224 (-7%)	4mo	$121,997	$100	65
429 NE Elmhurst Ave	0.25mi	2/1.0 (-1)	1,140 (-13%)	2mo	$101,000	$89	60
129 Fleetwood Pl	0.69mi	3/2.0	1,260 (-4%)	0mo	$134,000	$106	57
413 Nebraska Ct	0.32mi	3/2.0	1,504 (+15%)	4mo	$150,000	$100	53
3816 Nebraska St	0.48mi	3/1.5	1,462 (+11%)	5mo	$159,000	$109	52
624 NE Fenway Ave	0.48mi	3/2.0	1,157 (-12%)	2mo	$173,000	$150	52
428 N Spruce Ave	0.50mi	3/2.0	1,505 (+15%)	2mo	$158,000	$105	46

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,736
• Equity at exit: $22,365

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $16,600
• Equity at exit: $12,969

Cash invested: $42,000 (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 74006

• Home prices YoY: -33.2%
• Active inventory: 231
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$787
• Tax from tax record: −$58 /mo · $694/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $277

Break-even live

Break-even rent $1,148

Max offer price $150,000

Occupancy floor 77%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
437 NE Myers Ave Bartlesville, OK	4.0	2.0	1405	$1,500	$1.07	11d	1	0.35mi
4714 NE Wisconsin St Bartlesville, OK	3.0	2.0	1500	$1,350	$0.90	15d	1	0.66mi
4716 NE Wisconsin St Bartlesville, OK	3.0	2.0	1161	$1,350	$1.16	23d	1	0.66mi
5610 Baylor Dr Bartlesville, OK	3.0	2.0	1407	$1,500	$1.07	3d	1	1.12mi
4715 SE Adams Blvd Unit 905D Bartlesville, OK	2.0	2.0	953	$900	$0.94	11d	1	1.22mi
5530 Colony Way Bartlesville, OK	1.0–2.0	1.0–2.5	1176	$1,399	$1.19	23d	4	1.37mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $150,000 Pending 13 DOM
2. 2026-06-05
   days on market $150,000 Active 12 DOM
3. 2026-06-03
   days on market $150,000 Active 11 DOM
4. 2026-06-02
   days on market $150,000 Active 10 DOM
5. 2026-06-01
   days on market $150,000 Active 9 DOM
6. 2026-05-31
   days on market $150,000 Active 8 DOM
7. 2026-05-30
   days on market $150,000 Active 7 DOM
8. 2026-05-10
   status Pending
9. 2026-05-05
   listed $140,000 Active

ⓘ 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: $694 · $58/mo
• Projected year-2 tax: $1,350 · $112/mo
• Expected delta: +$656/yr (+$55/mo · 94.5%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥112°F today · 18 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: $17,980
• − Mortgage interest: −$8,402
• − Property taxes: −$694
• − Insurance: −$750
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$4,364
• Taxable income: $894
• Est. tax owed @ 24.0%: −$214
• After-tax cash flow: $3,107/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: Bartlesville
• NCES district ID: 4003630
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $48,889
• Composite: 25.69/100
• National rank: #7389
• State rank: #59 of 270 in OK

Livability — Bartlesville

• Score: 64/100
• State rank: #175
• US rank: #13940

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment C- Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bartlesville, OK
• County: Washington County · 41,935 people
• City population: 41,935
• Metro: Bartlesville, OK
• Population (ZIP): 27,911
• Household income: $71,796
• Rent vs Own: 24.2% rent · 75.8% own
• Severe rent burden: 563.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 54,946 people
• By 2030: 56,249 · +2.4%
• By 2040: 58,867 · +7.1%
• By 2050: 61,600 · +12.1%
• By 2075: 69,355 · +26.2%
• By 2100: 73,067 · +33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Two or more races 9% Native American 7% Hispanic / Latino 6% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 3% Slovak 2% Serbian 2%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 4% Vietnamese 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+47.6) · D 25.0% · R 72.7% · Other 2.4%
• 2008→2024 swing: -3.1pp toward R · 2008: -44.6pp · 2024: -47.6pp
• All cycles: 2024: R+47.6 2020: R+48.0 2016: R+48.5 2012: R+47.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -118.35%
• Current HPI: 237.9056
• Rent YoY: —
• Metro: Bartlesville, 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

2 events — show timeline

• 2026-05-10 Pending — MLS Technology, Inc.
• 2026-05-05 Listed $140,000 MLS Technology, Inc.

Property tax history

+3.4%/yr

Latest (2025): $694 · +0.3% YoY. Source: county tax records.