Real Estate Investing in Tulsa, Oklahoma (74104)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 74104 (Tulsa, 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: 15.1% of homes vacant — above national norms.
What’s happening in Tulsa, OK (74104)?
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Market Analysis: 74104 Tulsa
ZIP 74104 in Tulsa, OK carries a notable set of headwinds. Home values near $242K and rents of $1,587/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 74104 can be a worth a close look for hunting ground — but the discount at $242K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 74104 among OK's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 74104 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.
Experienced landlords with local relationships tend to find 74104 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Tulsa:
Property Strategy for 74104
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $209,573 | $1,440 | 4.9% | +8.0% | $104,786 |
| 3BR | $278,159 | $1,900 | 4.9% | +7.0% | $92,720 |
| 4BR | $348,424 | $2,200 | 4.5% | +5.7% | $87,106 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 74104 Compare?
| Metric | 74104 | Tulsa | Tulsa, OK | Oklahoma |
|---|---|---|---|---|
| Home Value | $241,628 | $103,506 | N/A | $214,563 |
| 5-Year CAGR | 5.6% | 5.9% | N/A | 6.9% |
| Avg Rent | $1,587 | $1,269 | N/A | - |
| Cap Rate | 5.1% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 74104 (Tulsa, OK). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $241,628 |
| Monthly Rent | $1,587 |
| Price-to-Rent | 12.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.9% |
| Cap Rate | 5.1% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +7.0% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | +15.4% ▲ |
| 3-Year CAGR | +9.3% ▲ |
| 5-Year CAGR | +9.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.1%). 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 74104
Population: 12,434
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 74104
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
TRAICE MS
ANDERSON ES
HOOVER ES
LANIER ES
LINDBERGH ES
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
Investor Insight: With 3,605 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the best play in Tulsa, OK?
For Tulsa, OK, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is the tenant base reliable in Tulsa, OK?
The renter base in Tulsa, OK is reasonable for the $1,587/mo price point. Screening well and pricing to market typically yields stable tenants.
What are rental rates like in Tulsa, OK?
Rental rates in Tulsa, OK average $1,587/mo. Tenant demand and $242K home values make the yield look reasonable by investor standards.
What kind of vacancy should I budget for in Tulsa, OK?
Occupancy in Tulsa, OK runs steady with elevated vacancy. Well-priced units at $1,587/mo lease on reasonable timelines.
Is Tulsa, OK a friendly market for rental owners?
For rental operators, Tulsa, OK rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
You know 74104 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 74104 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 74104 ranks in Tulsa, OK
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