3305 SE 21st St · Del City, OK 73115

$68,000

2 bd · 1.0 ba · 672 sqft · SingleFamily public records · 71 Days on market

Built 1955 8,259 sqft lot Est $87k · 22% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom, 1-bath home offers a fantastic opportunity for investors or buyers looking to add their own personal touch. Conveniently located near Tinker Air Force Base, this property is perfectly situated for strong rental potential or a value-add project. The home features a functional layout with solid bones and just needs a little TLC to really shine. With some cosmetic updates and minor improvements, this property could be transformed into a great primary residence, rental, or flip. Whether you're an experienced investor or a first-time buyer ready to build equity, this is a great chance. Don’t miss the opportunity to bring your vision and make this home your own!

Key facts

• Solid bones
• Value-add project
• Functional layout

Tags

• STRONG RENTAL POTENTIAL
• FUNCTIONAL LAYOUT
• SOLID BONES
• COSMETIC UPDATES
• MINOR IMPROVEMENTS
• VALUE-ADD PROJECT

Property features AI

Finance

• Other: Property is in Mansfield Third Add
• Financial info: Listing terms: Cash, Conventional, FHA or VA; Loan qualification: Yes; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Utilities: Cable available; Electricity available; Natural gas available
• Home design: Single family residence; One level; North-facing; Residential property; Existing property
• Construction: Frame construction; Composition roof; Built on a conventional foundation; Homestead exemption
• Exterior features: Covered porch; Interior lot

Interior

• Kitchen: Free‑standing range (gas); Free‑standing oven (electric)
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; Dining area; No fireplace
• Laundry & utility: Conventional foundation

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $64k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 5.9% in Del City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#180 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities D, schools F.
• Midwest City-Del City (suburban): math 10% / reading 17% proficiency, ranked #231 of 270 in OK (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.3%/yr); 119 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $43k; list at $68k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,920 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 12.09%
• Cash-on-cash: 20.72%
• DSCR: 1.92
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $86,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3305 SE 21st St	0.00mi	2/1.0	672 (0%)	0mo	$58,000	$86	100
3621 Teal Dr	0.36mi	2/1.0	660 (-2%)	1mo	$85,000	$129	79
3909 SE 22nd St	0.33mi	2/1.0	696 (+4%)	6mo	$103,920	$149	74
3301 SE 21st St	0.01mi	3/1.0 (+1)	756 (+12%)	2mo	$115,000	$152	72
3708 SE 23rd St	0.30mi	2/1.0	747 (+11%)	2mo	$125,000	$167	65
2713 S Glenn Ave	0.40mi	2/1.0	713 (+6%)	11mo	$104,000	$146	62
2721 S Glenn Ave	0.41mi	2/1.0	713 (+6%)	13mo	$96,000	$135	60
3904 SE 25th St	0.47mi	2/1.0	725 (+8%)	8mo	$84,900	$117	58
4012 SE 24th St	0.51mi	2/1.0	725 (+8%)	7mo	$88,000	$121	57
1705 Elm Dr	0.53mi	2/1.0	760 (+13%)	2mo	$60,000	$79	52
1812 Karen Dr	0.66mi	2/1.0	748 (+11%)	2mo	$27,000	$36	48
4104 SE 22nd St	0.50mi	3/1.0 (+1)	733 (+9%)	15mo	$75,000	$102	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.26% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.43×
• Total profit: $8,204
• Equity at exit: $10,139

10-year hold

• IRR: 18.7%
• Equity multiple: 2.43×
• Total profit: $27,312
• Equity at exit: $5,879

Cash invested: $19,040 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73115

• Home prices YoY: -20.9%
• Rents YoY: 1.3%
• Active inventory: 119
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,003 high
• Mortgage (P&I): −$357
• Tax from tax record: −$78 /mo · $941/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $329

Break-even live

Break-even rent $586

Max offer price $68,000

Occupancy floor 62%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3107 SE 21st St Oklahoma City, OK	2.0	1.0	720	$900	$1.25	3d	1	0.19mi
1700 Karen Dr Oklahoma City, OK	2.0	1.0	748	$950	$1.27	23d	1	0.71mi
4713 SE 23rd St Oklahoma City, OK	3.0	1.0	750	$1,095	$1.46	23d	1	1.20mi
4625 Tinker Diagonal Oklahoma City, OK	1.0	1.0	600	$850	$1.42	19d	1	1.32mi
4625 Tinker Diagonal Oklahoma City, OK	1.0	1.0	600	$850	$1.42	10d	1	1.32mi
4741 Ridgeway Dr Oklahoma City, OK	2.0	1.0	615	$850	$1.38	2d	7	1.39mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $68,000 Pending 71 DOM
2. 2026-06-05
   days on market $68,000 Active 69 DOM
3. 2026-06-03
   days on market $68,000 Active 68 DOM
4. 2026-06-02
   days on market $68,000 Active 67 DOM
5. 2026-06-01
   days on market $68,000 Active 66 DOM
6. 2026-05-31
   days on market $68,000 Active 65 DOM
7. 2026-05-05
   price $68,000
8. 2026-03-27
   listed $75,000 Active
9. 1997-01-14
   soldstatus $43,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $941 · $78/mo
• Projected year-2 tax: $941 · $78/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,031
• − Mortgage interest: −$3,809
• − Property taxes: −$941
• − Insurance: −$340
• − Repairs & maintenance: −$963
• − Management: −$963
• − Depreciation: −$1,978
• Taxable income: $3,038
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $3,216/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Midwest City-Del City
• NCES district ID: 4019950
• Math proficiency: 10% ▼ -11.00%
• Reading proficiency: 17% ▼ -8.00%
• Median HH income: $45,724
• Composite: 12.09/100
• National rank: #9658
• State rank: #231 of 270 in OK

Livability — Del City

• Score: 64/100
• State rank: #180
• US rank: #14305

Category grades

Amenities D Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety C- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Del City, OK
• County: Oklahoma County · 771,644 people
• City population: 20,225
• Metro: Oklahoma City, OK
• Population (ZIP): 20,225
• Household income: $46,810
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 965.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 50% Black 19% Hispanic / Latino 15% Two or more races 14% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.80%
• Current HPI: 271.8383
• Rent YoY: ▲ 1.26%
• Metro: Oklahoma City, OK
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+58.1% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $68,000 MLSOK
• 2026-03-27 Listed $75,000 MLSOK
• 1997-01-14 Sold (Public Records) $43,000 Public Records

Property tax history

+4.8%/yr

Latest (2025): $941 · +2.8% YoY. Source: county tax records.