Investing in Tulsa - duplex evaluation

[Sam Huang]

Hey BiggerPockets fam,

I used to live in Tulsa, but now I am OOS and would like to continue to invest there as it meets our goals.

Would you invest in a new construction duplex like this? https://docs.google.com/document/d/1lWz4pirkXlbpASNKBMV1RIpp...

Cost: $360K

Rents: ~2800/month (both units combined)

Area: West Tulsa (not the best area in town but pockets of West Tulsa are good and in close proximity to downtown). I would consider this a B- area.

Cashflow with current interest rates and 25%. down would be ~200/month. If our goal is long-term buy-and-hold and currently in accumulation phase, would you invest in this area and duplex?

[Melissa Justice]

@Sam Huang,

Hey there!
I actually just sold this exact same model to a client about a month ago-both units are already tenanted and its cash flowing very well. They’ve been really pleased with the performance so far.

This area of West Tulsa is a solid B-/B neighborhood with pockets that are improving steadily, especially given the close proximity to downtown. We’re seeing strong rental demand, especially for newer duplexes like this one that appeal to quality tenants looking for a modern unit but still want to stay close to the city.

A couple key updates:
Rents are actually $2,900/month total (advertised at $1,450 per unit).
There's a $10K builder incentive available, which you could use as a rate buydown if you go with our preferred lender-this could really help your cash flow or lower your monthly payment or take it as a cash back post close + Free property management services for year 1 of ownership.

If you're in long-term buy-and-hold mode and want new construction with minimal maintenance, this is a strong candidate.

Let me know if you want to dive deeper and we can do a call. :-)