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$390,000

For Sale - Active
2112 E 59th St Unit B6, Tulsa, OK 74105
3 Beds
3 Baths
3,128 Square Feet
0.00 Acres Lot
Built in 1963
For Sale - Active
Units n/a
Checked: 6 hours ago
Updated: Aug 30, 2025 at 11:23PM

Investment Summary


Monthly Cash Flow
-$1,316
Cap Rate
1.6%
Cash-on-Cash Return
-17.6%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-13.0%

Property Description


0.00 Acres Lot
Built in 1963
For Sale - Active
Units n/a

Your opportunity to bring new life back to one of the largest units in Garden Park. This rare corner unit has 3 large bedrooms, each with private baths, 2 living areas, 3 courtyards, 3128 square feet per Court House and plenty of storage. The unique architecture, moldings and beautiful hardware is one reason this home was featured in a magazine. Garden Park is gated with full time security, 2 pools and a vibrant community.

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Location


Property Details


Parking

  • Description: Carport
  • Details: Carport, Storage
  • Garage Spaces: 1
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 1
  • Basement Description: None
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Siding (not specified)
  • Foundation: Slab
  • Roof Type: Gable
  • Roof Material: Asphalt, Fiberglass

HOA

  • Has HOA: Yes
  • HOA Fee: $1,057/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 39900933128150
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other
  • Year Built: 1963

Tax Information

  • Annual Tax: $4,134

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Central
  • Cooling: Central Air

Location

  • County: Tulsa

Listing Details


Listed by:
Jo Albert
McGraw, REALTORS
(918) 640-3933

Source:
MLS Technology
MLS#: 2529645
MLS Technology

Investment Summary


Monthly Cash Flow
-$1,316
Cap Rate
1.6%
Cash-on-Cash Return
-17.6%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-13.0%

Purchase Details

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Purchase price:
$390,000
Amount financed:
-$312,000
Down payment:
$78,000
Closing costs:
$11,700
Rehab costs:
$0
Initial cash invested:
$89,700
Square feet:
3,128
Cost per square foot:
$125
Monthly rent per square foot:
$0.90

Financing Details

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Loan amount:
$312,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,846
Property tax:
$345
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,387

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$345-$4,134
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (38%)
38%-$1,057-$12,684
Total operating expenses: (75%)
75%-$2,102-$25,218

Cash Flow


Monthly Yearly
Net operating income:
$530 $6,360
Mortgage payments:
-$1,846 -$22,152
Cash flow:
$1,316 $15,792