Real Estate Investing in Alex, Oklahoma (73002)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 73002 (Alex, OK)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 18.3% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Alex, OK (73002)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 73002 Alex
The 73002 ZIP covers a section of Alex that demands careful diligence. Prices near $178K look accessible, but the work to make a deal cash flow is real.
The investment case in 73002 is resilient only for operators who understand what they are buying. A $178K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Meanwhile, 73002 offers a low basis, the region around Alex has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 73002 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Distressed ZIPs reward experience. substantial returns are possible in 73002, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Alex:
Market Trends
Home Value History (with trend line)
📊 How Does 73002 Compare?
| Metric | 73002 | Alex | Oklahoma |
|---|---|---|---|
| Home Value | $177,646 | $215,365 | $214,563 |
| 5-Year CAGR | 6.7% | 6.9% | 6.9% |
| Avg Rent | $846 | $869 | - |
| Cap Rate | 3.7% | 3.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 73002 (Alex, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $177,646 |
| Monthly Rent | $846 |
| Price-to-Rent | 17.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +10.9% ▲ |
| 3-Year CAGR | +6.3% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 73002
Population: 1,123
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 73002
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How do home values compare in Alex, OK?
In Alex, OK the median home value sits at $178K. Against the broader OK market, that reads as reasonable for most investors.
How does Alex, OK stack up for property investment?
Yes - Alex, OK a 3.0/5 investability score. With $178K home prices against $846/mo monthly rent, the market delivers a reasonable entry point for new investors.
Are landlord laws favorable in Alex, OK?
Rental owners in Alex, OK deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
Can I house hack in Alex, OK?
Alex, OK is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $178K price point reasonable to enter.
What is the typical renter like in Alex, OK?
Alex, OK offers a reliable renter base at the $846/mo rent level. Tenant turnover is reasonable for well-managed properties.
You know 73002 now. You don’t know where it ranks.
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