Tulsa Real Estate Appreciation in Recent Years

[midtownnewbie]

I actually LIVE in Maple Ridge and my zip code is 74114...  I guess I need to tell the people building the park at 31st and Peoria that they've got the wrong location...

74119 appears to be north of 21st St between Riverside and Peoria.  Isn't that called something else?

[waterboy]

quote:Originally posted by midtownnewbie

I actually LIVE in Maple Ridge and my zip code is 74114...  I guess I need to tell the people building the park at 31st and Peoria that they've got the wrong location...

74119 appears to be north of 21st St between Riverside and Peoria.  Isn't that called something else?

Its called Maple Ridge. Geez guys. I live in Maple Ridge. 74119. You live in Maple Ridge South which is really not Maple Ridge at all by the time you get to 31st but was added onto the original association in the 1980's. The original MR was only 18th to 21st and Peoria to about Cincinnati. Look at the age of the homes and you can see distinctive differences.

Call it the Maple Ridge edition of Brookside North if you want.

Note: I don't want to sound midtown elitist.[]MP added several neighborhoods to its assoc. a long time ago to strengthen its influence (and make for better parties). Its like the Green Bay Packers club. Anyone can join but that doesn't mean they are Green Bay Packers!

[midtownnewbie]

Wow, I didn't know that.

[waterboy]

When the Skelly Mansion was built at 21st & Madison, Tulsa's new oil money could have grown either north or south. If you look at the homes north of Edison on Denver they look very much like the Maple Ridge area in style and materials. They aren't the oldest homes in Tulsa, simply the ones that were built to accomodate the oilmen from back east and their executives. Skelly tipped momentum to South Tulsa. He was so important to the oil biz that others wanted to build their homes nearby and Tulsa quickly grew south of 21st up to 31st from the 1920's to the 40's. Meanwhile some of Tulsa's earliest family names like the Mayo's settled on Reservoir Hill overlooking downtown and the refineries.

Many of the old homes in original MP have sold for $100ft or more. Even the modest homes across from me hit that mark.

[Hometown]

One of the Mayo Brothers that established the family's reputation in Tulsa, Cass Mayo, and his Wife Aileen (sp?) developed much of Old Reservoir Hill.  I have heard but not confirmed that Cass was also an amateur architect and he actually designed the homes he built.  He used commercial building techniques.  But the only address I have ever come across for Cass Mayo was on Cheyenne in Carlton Place, next door to his brother.  Reservoir Hill was associated with the Merchant Class.  Carlton Place was known for Oil Money.  Mayo's brother's home is the only one that remains on that block of Cheyenne. That old Synagogue that burned last week is in the next block (or two) over.  That old Synagogue was on my wish list of places I want to buy and develop.

Hopefully Tulsa's gain in real estate values has been modest enough, or our starting point was low enough, that our gains will be sustainable.

[bbriscoe]

Zillow's values for Tulsa and especially my house have fallen about 7-8% from their highs last year.  I'm not sure if the local market has really dropped that much or if Zillow is just off again.

[Conan71]

quote:Originally posted by Hometown

One of the Mayo Brothers that established the family's reputation in Tulsa, Cass Mayo, and his Wife Aileen (sp?) developed much of Old Reservoir Hill.  I have heard but not confirmed that Cass was also an amateur architect and he actually designed the homes he built.  He used commercial building techniques.  But the only address I have ever come across for Cass Mayo was on Cheyenne in Carlton Place, next door to his brother.  Reservoir Hill was associated with the Merchant Class.  Carlton Place was known for Oil Money.  Mayo's brother's home is the only one that remains on that block of Cheyenne. That old Synagogue that burned last week is in the next block (or two) over.  That old Synagogue was on my wish list of places I want to buy and develop.

Hopefully Tulsa's gain in real estate values has been modest enough, or our starting point was low enough, that our gains will be sustainable.

Unless there is a total cataclysm in Tulsa like the early '80's, I'd say you are safe.

[carltonplace]

quote:Originally posted by waterboy

HT, Maple Ridge is 74119 for comparison.

I suspect $80 per foot would have been on the low side for that zip and yours. But now, who knows?

74119 includes North Maple Ridge and Riverview.
Riverview doesn't have the same sense of "single family residential" that NMR has and the prices have not increased as quickly over time. We have however seen many older homes turned around in the last four years and if you drive though now, there are improvments going on everywhere (instead of tear downs).

I hope that Riverview is poised to become a new kind of neighborhood that has increasing density and new construction that co-exists with historic areas.

We have some historic areas that are very important to Tulsa: Council Oak, Stickball Park, McBirney Springs, McBirney mansion, Spotlight Theater, Ambassador, Perryman, Writesman, McFarlin, Boyd, Sophian, etc (My street turns 100 this year).

We don't have the cohesion that NMR has, but hopefully we can be something new.

[Conan71]

What is the three-block wide neighborhood called just east of the IDL and just southwest of 11th & Peoria?  Isn't that Tracy Park?  It would appear that's where the Maple Ridge charm finally stalled out to the north.

We drove through last weekend, and there's probably less than 10 houses left to gentrify.  Certainly did not hurt that the city came through and poured all new concrete streets.

Waterboy, I thought Maple Ridge had left 100/ft behind a long time ago...

[waterboy]

Like most neighborhoods it varies with size, style, location and condition. MR has had a fair amount of infill since the late 50's so it has a variety of styles/sizes from brick mansions and craftsman bungalows to mid century modern and duplexes. Morningside, (North MR between 15th and 18th) is more dense and uniform in style than the rest of the area. I have to say I don't keep up much with the bigger historic mansions as they aren't a comparable for my home. But the craftsman bungalows that have been modernized exceed $100 ft. Hope it lasts.

My home was built by the president of the Tulsa Ice Company (no refrigerators back then!) just before original MR was developed and has about 2200sq.ft not including basement area. As soon as the oil money started to move in, he built a larger home farther south.

[ARGUS]

Zillow has at least a 7-9% margin of error. Conan call me.

[Steve]

I bought my home in the Lortondale (26th & Yale) subdivision in 1987, paid $50,000.  Today, with some cosmetic updating, it would probably sell for around $115,000.  All irrelevant to me except for property tax reasons, as it is paid for and I have no intention of ever selling.

In older established areas of Tulsa, with mid range homes, not luxury mansions, I think history has shown market prices to double about every 20-25 years.

[Ben Wehr]

For Sale in Maple Ridge 74114
MLS 830356  Address- 1123 E 21st Street  
Sq ft 4196, 5bed,  3bath,  0 halfbath,  2 Car  Build in 1926, Listed at $610,000, $145/sq ft  Been on the market for 311 days

Average home sold in the last year
Avg Sqft 3,352, 3bed, 2full & 1 half bath, 2Car, Built in 1935, Avg List Price $396,470, Which is $116/sqft, Avg sale price $381,690, Which is $112/Sqft, Avg days on Mkt 112

Hope that helps. The average annual increase roughly for the Tulsa metro area is 3%. Now in some midtown/brook side areas with a little improvement it's not uncommon to see 6-10%.