1611 S 116th E Ave

Tulsa, OK 74128
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3 bd, 2 ba | 1,368 sqft | Built in 1969

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List Price
$170,000

Initial Investment

$47,150

Purchase Price

$170,000

Down Payment

25%

Rent

$1,240

Total Return

$27,817

Annualized Return

9.6%

Cap Rate

5.4%

Gross Yield

8.8%

Cash Flow

-$625

Appreciation

3.4%
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Features

Occupancy

Occupied

Lease Start

03/11/2022

Lease End

02/28/2023

Lot Size

13,508

HOA

None

Flood Risk

Not Required

  • Seller is offering the buyer a FREE home warranty with the property once this property gets into contract
  • Per the inspection report dated March 2022, the following items were repaired by seller:
(1) Exterior: Approximately 6 foot of soffit repairs needed due to water damage above front porch. The sliding glass door damage to trim and gap that could allow for water intrusion. - CLEARED
(2) Roof: Approximately 4 shingles on the bottom edge need to be replaced. This could allow for leaks. There are signs of past leaks on the interior ceiling. Recommend repairs. – CLEARED
(3) Garage: There is staining and discoloration on the ceiling. Recommend microbial remediation. Approximately 4 x 8 sheet of drywall is missing from the garage ceiling. Recommend repairs. - CLEARED
(4) HVAC: Servicing switch box has opened, needs a plug to prevent water intrusion. - CLEARED
(5) Miscellaneous: The garage ceiling and walls show evidence of possible termites. - CLEARED
  • There is a $25 pet fee included in monthly rent

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Annual Financial Highlights

Expected Rent

$14,136

Expenses

-$3,319

Property Taxes

-$2,200

Loan Payments

-$9,242

Net Cash Flow

-$625

See more in Financials

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