Sand Springs, Oklahoma, is a great spot for real estate investors. The market is stable, offering benefits from both short and long-term investments. It is a suburb close to Tulsa with nearly 20,000 people. The town has greatly developed, going from a small community to a lively city1.
Income levels in Sand Springs almost double the state average, making it economically appealing for investors1. The town also excels in growing community facilities and infrastructure. This includes affordable and new homes that stand out in character, space, and design1. These factors contribute to the promising investment opportunities in Sand Springs.
The town attracts investors with its high rental incomes. Airbnb and traditional rentals make an average of $1,838 and $1,933 respectively2. Returns can reach up to 8.28% for Airbnb properties and 7.56% for traditional rentals. These numbers show the profitable investment possibilities in Sand Springs2.
Explore Sand Springs’ Development to discover new business openings. Also, find out how community enhancements add value to the town.
Key Takeaways
- Sand Springs offers various real estate investment opportunities ranging from single-family homes to multi-unit properties.
- The town has a population of nearly 20,000 and household incomes almost twice that of the state average1.
- Average rental incomes are $1,838 for Airbnb and $1,933 for traditional rentals2.
- Potential cash on cash returns can reach up to 8.28% for Airbnb and 7.56% for traditional rentals2.
- Significant development in community facilities and infrastructure adds value to property investment in Sand Springs1.
Understanding the Real Estate Market in Sand Springs, OK
The Sand Springs real estate market shows exciting trends for investors. This analysis helps investors understand the market better. It guides them to make smart choices.
Market Trends
Recently, the number of new listings and homes sold in Sand Springs has gone up. This month alone, there were 53 new listings and 41 homes sold. This tells us the market is active and healthy3. Sand Springs has a median home price of $234,921. This price is higher compared to nearby areas3. It shows Sand Springs is an attractive place for investment.
Price Appreciation
Investing in Sand Springs homes is profitable. The returns on investment properties range up to 7.56%3. The average price for homes here is $257,691. Some properties are even listed at $329,9004. This tells us that property values in Sand Springs are on the rise, making it a great spot for investors.
Rental Demand
There’s a big demand for rental properties in Sand Springs, with 30% of people renting3. The median rent is affordable at $9333. Schools rank from 4 to 10, and there’s public transport by Metropolitan Tulsa Transit Authority3. These factors contribute to a strong rental market in Sand Springs.
In closing, Sand Springs is a market where property values are growing. For more on demographics, public transit, and the housing market, see this thorough guide to Sand Springs3.
Top Reasons to Invest in Sand Springs Real Estate
Sand Springs real estate is a smart choice for many investors. This city offers strong economic growth, a growing population, and great community features. These elements make it an excellent place for investment.
Economic Growth
Recently, Sand Springs has seen impressive economic development. It has over 5,304 jobs, providing stability for its people5. Tech jobs have increased by 19% since 2015, showing economic progress5. Investors can find properties at low prices, leading to potentially high profits6.
Population Trends
The population of Sand Springs is growing, making it attractive for investing. Around 18,638 people live here, creating a vibrant community5. The larger Tulsa area, including Sand Springs, now has over 1 million people5. This growth ensures a steady demand for homes and rentals.
Community Features
Sand Springs is known for its high quality of life. It boasts parks, restaurants, and natural attractions. Neighborhoods like Prattwood Estates and Charles Page offer great community amenities5. Though it scores 19 on Walk Score, its amenities greatly enhance living standards5. These benefits support strong real estate values and rent demand.
| Benefit | Economic Impact |
|---|---|
| Job Opportunities | 5,304 jobs5 |
| Population Growth | 18,638 residents5 |
| Quality of Life | Notable parks and restaurants |
Key Neighborhoods to Consider
When looking for the best spots in Sand Springs to invest, focus on areas that promise growth and good returns. Think about the easy access to local attractions, community quality, and rising property values. Choosing where to buy is key to your investment’s success.
The South Peoria neighborhood stands out with its mix of suburban feel and city convenience. It’s near Sand Springs’ lively center. Meanwhile, Sand Springs Southeast is also appealing with an average property price of $266,669. This is higher than most places in Oklahoma and a lot of the U.S7.. Its average rent is $885, which is cheaper than almost all Oklahoma neighborhoods, suggesting rent could rise7. With only 3.3% of homes vacant, it’s a secure place to invest7.
Keystone Lake’s Key neighborhood is another top choice for investors. Homes here cost about $333,317 on average. That’s more than most Oklahoma neighborhoods8. Here, rent goes for $2,303 on average, higher than 95.7% of the state. This shows it’s a desired place8. Its low vacancy rate of 2.7% means properties are in high demand8. Plus, most homes are owned, not rented, adding to its investment stability8.
In general, Sand Springs offers both affordability and a chance for a good return. It has 19,925 people and homes average $173,400, below the U.S. median9. Renting is cheaper here too, at $993, compared to the higher national median9. The local income average is $70,431, showing a solid economy9.
These neighborhoods are rated highly, with Sand Springs scoring an A minus from 93 reviews. Nearby places like Glenpool, Skiatook, Mannford, and Sapulpa have good grades too. They range from A minus to B. These ratings show why Sand Springs is top for real estate in Tulsa’s area9. Read more in the blog.
Popular Single-Family Home Investments
Sand Springs offers great opportunities for investing in single-family homes. This area stands out for its excellent living conditions, wide range of property types, and competitive pricing. Key neighborhoods worth looking at include Hudson Lake Estates, Lake Keystone area, and central Sand Springs.
Hudson Lake Estates
Investing in Hudson Lake Estates is promising thanks to beautiful scenes and modern features. Waterfront homes here have a median price of $275,000. They are in high demand and attract many interested buyers10. The rental market in this neighborhood is strong, too. It benefits from the lovely views and being close to important services. This makes it a prime spot for families and investors.
Lake Keystone
Lake Keystone offers a special mix of peaceful lakeside life and city comforts. Here, 30 waterfront homes are up for sale. This appeals to people looking for both fun by the lake and a place to call home10. Homes in this area sell quickly, usually in about 40 days. This highlights the area’s popularity10. Smart investments here can lead to solid returns.
Sand Springs Central
Central Sand Springs combines old charm with modern living nicely. The median home price in the 74063 zip code is $289,000. This makes it an appealing choice for those seeking both value and profit11. Last month, 30 homes were sold in this area. This shows a strong market with good turnover of properties11. Renters and buyers like single-family homes here for their easy access and community amenities.
| Neighborhood | Median Listing Price | Days on Market | Current Listings |
|---|---|---|---|
| Hudson Lake Estates | $275,00010 | 40 days10 | 30 homes10 |
| Lake Keystone | $275,00010 | 40 days10 | 30 homes10 |
| Sand Springs Central | $289,00011 | 39 days11 | 30 homes sold11 |
Investment Insights on Duplex and Multiplex Units in Sand Springs
Investing in multi-family units like duplexes in Sand Springs is a smart move. This city has a strong need for housing, which means it’s a good place to invest. This can bring in stable income and increase in value over time.
Knowing the market, managing properties, and understanding costs are key. For example, a duplex might cost $365,000 but could make about $200 monthly after expenses. This shows the benefit of investing in Sand Springs.
Nathan Tabor talks about flipping apartments for profit and why careful research is needed. He stresses checking zoning laws before buying. This helps avoid legal or financial issues later. His guidance, based on wins and losses, offers a roadmap for investors here12.
There’s a steady demand for homes in Sand Springs, making it an attractive market. Low costs for the right properties add to the appeal. The area is seeing real estate growth, with values going up and rentals doing well.
With these points in mind, investors can make smart choices in Sand Springs. It’s a way to earn now and build wealth over time in a growing market.
Comparing Sand Springs to Nearby Cities
When you compare real estate, look at each city’s living costs and market trends. Sand Springs stands out when comparing it to cities like Tulsa, Jenks, and Owasso.
Tulsa
The average home cost in Tulsa is $179,100. But, Sand Springs’ homes are a bit pricier at $198,30013. Even though Sand Springs homes cost 7.4% more, living expenses like utilities and transportation are similar to the national average. This detail puts Sand Springs in a competitive spot in comparisons with Tulsa. Tulsa has a big population of 403,000. This high number makes the demand for homes rise significantly14.
Jenks
Buying in Jenks is getting popular cause home sale prices jumped to $315,000. That’s a 31.3% increase from last year15. This big jump makes Jenks more expensive compared to Sand Springs, where homes are at $145,000. For investors, Sand Springs is more appealing due to its lower costs15. Jenks has steady rental demand, which is good for long-term investors.
Owasso
Owasso’s market thrives because of strong jobs and growing population, much like Tulsa. It’s a lively suburb with homes reasonably priced, making it attractive. When we look at Sand Springs, it’s interesting for those who want cheaper homes. Sand Springs has homes priced at $145,000 and a living cost 5% above Oklahoma’s average1315. Owasso attracts investors with a good balance of owned and rented properties.
In summary, comparing Sand Springs with nearby cities shows different benefits based on investment goals. Choosing between places like Jenks for higher returns or Sand Springs for affordability is key. Getting to know the unique market of each area helps investors make smart choices131514.
Essential Tips for First-time Investors
Entering the real estate market for the first time can be overwhelming. First-time investors in Sand Springs can gain a lot from targeted strategies and clear insights.
Property Management Considerations
Effective property management is key in real estate investment. For those not nearby, using a specialized property management service in Sand Springs is crucial. Property management fees usually are about 8% of rental income. This cost is important in your overall investment plan to make sure you profit.
Cost and Revenue Analysis
Building a profitable real estate portfolio needs careful investment cost analysis. It’s important to look closely at cash flow, ROI, and vacancy rates. In Sand Springs, rental income varies from $1,238 to $3,816 a month, affecting your returns16. Nearby Tulsa’s average rental is $1,902 a month, with a cash-on-cash return of 5.00%16. This info helps compare potential earnings.
Legal and Market Research
Before sealing any property deal, doing detailed legal and market research is essential. Knowing about local laws, tenant rules, and the market can lower risks. Sand Springs, home to about 18,638 people and several job opportunities, offers valuable info for wise investment decisions17. Being aware of favored areas like Prattwood Estates and Charles Page helps in picking the best spots17.
Notable Success Stories from Investors
Investors have hit the jackpot in Sand Springs. Thanks to smart buys and well-thought-out plans, their investments have paid off big. Here, making money from property isn’t just talk. Real stories and evidence show it’s true.
Case Chudy 1: Single-Family Home
Single-family homes are a win in Sand Springs. One investor, for example, saw a return of 5.31% right away. This shows that homes like these are a solid choice for earning well. Plus, home values in Tulsa have jumped by 38% since 202018.
Such success stories spotlight the perks of investing in Sand Springs. A strong community and great public services play a big part. This is clear with the $15.7 million bond package19 that was passed.
Case Study 2: Duplex Property
A duplex brought another investor steady cash, about $200 monthly. With more folks renting instead of buying, demand for rentals is up18. This change has also led to new rental homes being built, like 161 in Bixby18. So, investing in different types of properties here makes sense.
Charles Page’s dream of a well-planned community is why Sand Springs thrives. His work has made the real estate market here strong. To dive deeper into Charles Page’s impact, check out this interview.
Conclusion
Investing in Sand Springs, OK, brings both opportunity and consistency. You’ll find diverse options like Prattwood Estates and Charles Page, offering single-family homes and duplexes20. This variety helps investors broaden their horizons in real estate portfolios.
The city’s economic growth and welcoming community add to its appeal. These make Sand Springs a smart choice for buying and selling real estate.
The real estate scene in Sand Springs is marked by competitive prices and steady interest21. Take a house at 119 W 45th Pl, listed at $229,900. This price is below the area’s median, making it a great deal more about the property. Homes here often sell fast, with an average stay of 40 days on the market and a typical listing price around $275K20.
Sand Springs is ideal for both new constructions and existing homes. Last month, 24 homes, including condos and townhomes, were sold here20. It’s a growing market, promising steady income from rentals and value increase. The city’s future development plans also signal continuous growth and development opportunities22.
FAQ
What are the best neighborhoods to invest in Sand Springs, OK?
In Sand Springs, check out South Peoria, Hoover, and Keystone Lake. These areas have a mix of suburban charm and nature. They also have a lot of people wanting to rent, and home values go up.
Can you explain the current market trends in Sand Springs?
Right now, Sand Springs’ property market is doing well. Home values are going up slowly but surely. There are a lot of people looking to rent homes. Plus, homes here, from new ones to old ones, can make good money.
How has property value grown in Sand Springs?
Homes in Sand Springs, from two bedrooms to four, can earn up to 7.56% return. This shows homes here are getting more valuable.
What drives rental demand in Sand Springs?
More people want to rent in Sand Springs because it’s growing, has nice places to live, and is attracting more residents. This makes it a great place to invest in.
Why is economic growth a key factor in investing in Sand Springs real estate?
Since 2015, tech jobs in Sand Springs grew by 19%. This job growth keeps property values and rent demand up.
How have population trends affected Sand Springs’ real estate market?
Over 1 million people live around Tulsa and Sand Springs. This growing population makes more people want to rent, raising home values.
What community features contribute to Sand Springs’ investment appeal?
Parks, eateries, and natural sights improve living in Sand Springs. These perks make the area’s homes more valuable and sought after.
Which key neighborhoods should investors consider in Sand Springs?
Look at Hudson Lake Estates, Lake Keystone, and Central Sand Springs for investing. They offer nice homes, fair prices, and good earnings.
What makes duplex and multiplex properties attractive in Sand Springs?
Duplexes and multiplexes in Sand Springs have high rent demand. They need low upfront costs. These properties promise steady income, perfect for long-term plans.
How does Sand Springs compare to nearby cities?
Sand Springs is cheaper than Jenks, Tulsa, and Owasso. It has unique draws for investors. With a median home price of $144,000 and 31% renters, it’s an attractive market.
What are essential tips for first-time investors in Sand Springs?
New investors should manage properties well, analyze costs and profits, and study laws and the market. This prepares them for success.
Can you share success stories from Sand Springs investors?
Investors say single-family homes return 5.31%. Duplexes can make $200 monthly. These stories prove Sand Springs’ investments are solid and profitable.
Source Links
- Morrow Place subdivision by Simmons Homes – https://www.newhomesource.com/communities/ok/tulsa-area/sand-springs
- Sand Springs, OK Investment Property for Sale | Mashvisor – https://www.mashvisor.com/oklahoma/sand-springs-investment-property-for-sale/c
- Is Sand Springs, OK a Good Place To Live? | Flyhomes – https://zerodown.com/quality-of-life/sand-springs–ok
- Sand Springs, OK Latest Real Estate – Chinowth & Cohen – https://www.ccoklahoma.com/latest-sand-springs-ok-real-estate-listings.html
- Luxury Homes for Sale in Sand Springs, OK – https://www.redfin.com/city/35763/OK/Sand-Springs/luxury-homes
- Sand Springs – https://www.newwestern.com/wholesale-real-estate/sand-springs-ok/
- SAND SPRINGS SOUTHEAST – https://api.locationinc.com/ok/sand-springs/sand-springs-southeast
- KEY – https://www.neighborhoodscout.com/ok/tulsa/key
- Sand Springs, OK – https://www.niche.com/places-to-live/sand-springs-tulsa-ok/
- Waterfront Homes for Sale in Sand Springs, OK – https://www.redfin.com/city/35763/OK/Sand-Springs/waterfront
- Cheap Homes for Sale in 74063, OK – https://www.redfin.com/zipcode/74063/cheap-homes/page-2
- 10 Best States to Buy Investment Property in 2024 – https://management.org/best-states-to-buy-investment-property
- Tulsa, OK vs Sand Springs, OK – https://www.bestplaces.net/compare-cities/tulsa_ok/sand_springs_ok/costofliving
- 9 Most Affordable Tulsa Suburbs to Live In – https://www.redfin.com/blog/affordable-tulsa-suburbs/
- Sand Springs, OK – https://www.areavibes.com/sand springs-ok/
- Tulsa, OK Investment Property for Sale | Mashvisor – https://www.mashvisor.com/oklahoma/tulsa-investment-property-for-sale/c
- Vintage Homes for Sale in Sand Springs, OK – https://www.redfin.com/city/35763/OK/Sand-Springs/vintage
- State of real estate in Tulsa: Area sees surge in home values – https://tulsaworld.com/news/local/business/tulsa-real-estate-market/article_ae6ca2ae-ae5e-11ee-a9dd-cbf722d994c7.html
- Sand Springs: The quiet suburb that keeps this journalist hopping – https://tulsaworld.com/news/community/sand-springs/sand-springs-the-quiet-suburb-that-keeps-this-journalist-hopping/article_d77a12c8-8270-11ed-bfa0-1330d2cedb42.html
- Living Space – Sand Springs, OK Real Estate & Homes for Sale – https://www.redfin.com/city/35763/OK/Sand-Springs/amenity/living space
- PDF – http://tulsaplanning.org/tmapc/agendas/exhibits/CZ-505.pdf
- Pending Listings in Sand Springs, OK – https://www.redfin.com/city/35763/OK/Sand-Springs/pending-listings
