4420 SE 38 St · Del City, OK 73115

$107,500

3 bd · 1.0 ba · 840 sqft · SingleFamily public records · 4 Days on market

Built 1952 8,377 sqft lot Est $120k · 11% under

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Why this score? — see what drove the C+ 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 +26.2/30.0
• ARV discount +12.2/15.0
• DSCR +8.9/10.0
• 1% rule +6.1/10.0
• 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 MLS

1st Time buyers....Ready for family...CLEAN...Maintance free exterior siding. ..NEW ROOF....Remodeled bath...Remodeled kitchen with dishwasher/stove....2nd drive for RV/BOAT double gate with backyard access...Bedrooms are spacious all 3...Ceiling fans..Tiled entry and kitchen/bath..... E Z 2 SHOW...

Key facts

• Eat-in dining space
• New vanity
• New flooring

Tags

• GRANITE COUNTERS
• EAT-IN DINING SPACE
• NEW FLOORING
• NEW VANITY
• TUB SHOWER COMBO

Property features AI

Finance

• Other: Vacant and ready for occupancy; Directions: From SE 44 and Sunnylane, travel north on Sunnylane to SE 38th and turn right/west. Home will be on your right.
• Financial info: Financing options include cash, conventional, FHA or VA; Loan qualification allowed; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Public utilities
• Home design: Single family residence; Residential property; Faces north; Existing property
• Construction: Vinyl siding; Shingle roof; Built with conventional construction methods
• Exterior features: Covered porch; Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One-level living; Living area reported as 840 (assessor); No fireplace; Conventional foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Cap rate 9.3% 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, crime 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.
• Zoned schools: Townsend Es (math 8% / reading 17%, grade F, #652 of 845 statewide, top 79%, 459 students, 0% FRL); Del City Hs (math 5% / reading 15%, grade F, #361 of 447 statewide, top 94%, 1,158 students, 0% FRL) — zoned schools average 0% FRL vs 57% district-wide (57 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.3%/yr); 119 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• This rent runs 31% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $743 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $45k; list at $108k implies a 139% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $107,500

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.11% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.90%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $120,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4428 SE 39th St	0.06mi	3/1.0	867 (+3%)	4mo	$85,000	$98	89
4321 SE 39th St	0.13mi	3/1.0	840 (0%)	19mo	$108,000	$129	78
4308 S Wofford Ave	0.26mi	3/1.5	888 (+6%)	2mo	$150,000	$169	74
4308 Sunnylane Cir	0.33mi	3/1.5	900 (+7%)	8mo	$178,000	$198	64
4112 SE 42nd St	0.50mi	3/1.0	840 (0%)	19mo	$129,000	$154	61
4322 Sunnylane Pl	0.29mi	2/1.5 (-1)	904 (+8%)	10mo	$125,000	$138	58
4209 SE 44th St	0.51mi	3/1.0	860 (+2%)	18mo	$67,000	$78	57
4300 Sunnylane Cir	0.30mi	3/1.5	927 (+10%)	17mo	$145,000	$156	53
4732 Elmview Dr	0.55mi	3/1.5	962 (+14%)	0mo	$155,000	$161	48
4012 SE 46th St	0.72mi	3/1.5	909 (+8%)	13mo	$130,000	$143	40
4709 S Dimple Dr	0.69mi	3/1.0	960 (+14%)	8mo	$135,000	$141	38
4220 SE 47th St	0.70mi	2/1.0 (-1)	768 (-9%)	22mo	$109,000	$142	30

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-2,090
• Equity at exit: $16,029

10-year hold

• IRR: 6.0%
• Equity multiple: 1.41×
• Total profit: $12,342
• Equity at exit: $9,295

Cash invested: $30,100 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$564
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $273

Break-even live

Break-even rent $850

Max offer price $107,500

Occupancy floor 72%

Sensitivity live

Price	-10% $334	-5% $304	+0% $273	+5% $243	+10% $213
Rent	-10% $179	-5% $226	+0% $273	+5% $321	+10% $368
Rate	-1.0pp $328	-0.5pp $301	base $273	+0.5pp $246	+1.0pp $217

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4600 Loch Ln Oklahoma City, OK	2.0	1.0	834	$1,195	$1.43	21d	1	0.49mi
4128 SE 43rd St Oklahoma City, OK	3.0	1.0	620	$1,275	$2.06	24d	1	0.49mi
4702 Loch Ln Unit 4309 Oklahoma City, OK	2.0	1.0	950	$1,200	$1.26	5d	1	0.53mi
4500 Cherry Hill Ln Oklahoma City, OK	2.0	1.0	850	$820	$0.96	24d	1	0.58mi
4104 SE 45th Ter Oklahoma City, OK	4.0	1.5	1111	$1,275	$1.15	2d	1	0.60mi
4741 Ridgeway Dr Oklahoma City, OK	2.0	1.0	615	$850	$1.38	3d	7	0.60mi
4650 SE 29th St Del City, OK	2.0	1.0	1100	$900	$0.82	24d	1	0.62mi
4004 SE 45th Ter Oklahoma City, OK	3.0	1.0	1006	$995	$0.99	24d	1	0.64mi
4721 SE 46th St Oklahoma City, OK	3.0	2.0	1002	$1,275	$1.27	12d	1	0.64mi
4613 SE 28th St Del City, OK	3.0	1.0	1056	$1,255	$1.19	2d	1	0.69mi
4217 SE 48th Ter Oklahoma City, OK	3.0	1.5	1043	$1,295	$1.24	24d	1	0.72mi
4613 SE 27th St Oklahoma City, OK	2.0	1.0	768	$1,050	$1.37	24d	1	0.74mi
4008 SE 47th St Oklahoma City, OK	3.0	1.5	1082	$1,145	$1.06	3d	1	0.77mi
4101 SE 48th St Oklahoma City, OK	3.0	1.0	974	$1,245	$1.28	16d	1	0.78mi
3451 SE 44th St Unit 269 Del City, OK	2.0	1.0	924	$850	$0.92	3d	1	0.81mi
3451 SE 44th St Oklahoma City, OK	1.0–3.0	1.0–2.0	974	$950	$0.98	12d	4	0.81mi
4814 Kristie Dr Oklahoma City, OK	2.0	1.0	825	$895	$1.08	24d	1	0.84mi
4917 S Karen St Oklahoma City, OK	3.0	1.5	960	$1,100	$1.15	24d	1	0.84mi
4769 SE 27th St Oklahoma City, OK	3.0	1.0	1000	$1,300	$1.30	24d	1	0.86mi
3812 SE 25th St Del City, OK	3.0	1.0	1044	$1,050	$1.01	24d	1	0.95mi
4765 SE 25th St Oklahoma City, OK	2.0	1.0	864	$895	$1.04	5d	1	0.97mi
3305 Neighbors Ln Oklahoma City, OK	3.0	1.0	945	$1,250	$1.32	3d	1	0.99mi
4215 SE 53rd St Oklahoma City, OK	1.0–2.0	1.0	769	$915	$1.19	24d	1	1.02mi
4713 SE 23rd St Oklahoma City, OK	3.0	1.0	750	$1,095	$1.46	24d	1	1.03mi
4772 SE 23rd St Oklahoma City, OK	3.0	1.0	1044	$1,300	$1.25	3d	1	1.07mi
3932 Mallard Dr Oklahoma City, OK	3.0	1.0	958	$950	$0.99	3d	1	1.13mi
3900 Mallard Dr Oklahoma City, OK	3.0	1.0	960	$975	$1.02	16d	1	1.15mi
5537 S Sunnylane Rd Oklahoma City, OK	1.0–2.0	1.0–1.5	840	$850	$1.01	3d	11	1.16mi
5707 SE 48th St Oklahoma City, OK	1.0–3.0	1.0–2.0	899	$1,363	$1.52	2d	6	1.19mi
2312 Mustang St Oklahoma City, OK	3.0	1.5	912	$1,100	$1.21	11d	1	1.27mi
4608 Tinker Rd Oklahoma City, OK	3.0	1.0	1123	$1,200	$1.07	2d	1	1.28mi
2333 Becker Pl Del City, OK	3.0	1.0	972	$1,025	$1.05	22d	1	1.28mi
3928 Teal Dr Oklahoma City, OK	3.0	1.0	1033	$1,200	$1.16	17d	1	1.30mi
5024 Brookdale St Oklahoma City, OK	3.0	1.5	1039	$1,550	$1.49	22d	1	1.31mi
3224 SE 24th St Oklahoma City, OK	3.0	1.0	1122	$1,195	$1.07	5d	1	1.38mi
1608 Breckenridge Dr Del City, OK	2.0	1.0	820	$1,050	$1.28	3d	1	1.38mi
5316 S Briarwood Dr Oklahoma City, OK	3.0	2.0	980	$1,149	$1.17	24d	1	1.41mi
5900 SE 48th St Oklahoma City, OK	2.0–3.0	1.0–2.0	1132	$1,299	$1.15	5d	1	1.43mi
4713 Love Dr Oklahoma City, OK	3.0	2.0	1112	$1,200	$1.08	24d	1	1.45mi
2908 SE 47th St Oklahoma City, OK	3.0	1.0	1100	$1,350	$1.23	3d	1	1.45mi

Listing history 12 events

1. 2026-06-03
   status $107,500 Pending 4 DOM
2. 2026-06-02
   days on market $107,500 Active 4 DOM
3. 2026-06-01
   days on market $107,500 Active 3 DOM
4. 2026-05-31
   days on market $107,500 Active 2 DOM
5. 2026-05-29
   listed $107,500 Active
6. 2008-10-30
   soldstatus $44,900 300-char remark

   Show marketing remark (300 chars)

   1st Time buyers....Ready for family...CLEAN...Maintance free exterior siding. ..NEW ROOF....Remodeled bath...Remodeled kitchen with dishwasher/stove....2nd drive for RV/BOAT double gate with backyard access...Bedrooms are spacious all 3...Ceiling fans..Tiled entry and kitchen/bath..... E Z 2 SHOW...

7. 2008-10-24
   soldstatus $44,000
8. 2007-08-18
   listed $54,999 300-char remark

   Show marketing remark (300 chars)

   1st Time buyers....Ready for family...CLEAN...Maintance free exterior siding. ..NEW ROOF....Remodeled bath...Remodeled kitchen with dishwasher/stove....2nd drive for RV/BOAT double gate with backyard access...Bedrooms are spacious all 3...Ceiling fans..Tiled entry and kitchen/bath..... E Z 2 SHOW...

9. 2000-03-28
   soldstatus $35,000
10. 2000-03-24
    soldstatus $34,900 269-char remark

    Show marketing remark (269 chars)

    CUTE AND EFFICIENT. NEW CARPET IN KITCHEN, AND HALL. NEW VINYL FLOORING IN KITCHEN. NICE STORM WINDOWS ARE TILT-OUT, MAKES FOR EASY CLEANING. GARAGE CONVERTED TO STORAGE ROOM. GOOD SIZE BACK YARD. PRICED TO SELL. TAKE A LOOK.******Contract Busted Need offer************

11. 1999-04-06
    listed $34,900 269-char remark

    Show marketing remark (269 chars)

    CUTE AND EFFICIENT. NEW CARPET IN KITCHEN, AND HALL. NEW VINYL FLOORING IN KITCHEN. NICE STORM WINDOWS ARE TILT-OUT, MAKES FOR EASY CLEANING. GARAGE CONVERTED TO STORAGE ROOM. GOOD SIZE BACK YARD. PRICED TO SELL. TAKE A LOOK.******Contract Busted Need offer************

12. 1982-11-01
    soldstatus $37,500

ⓘ 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: $758 · $63/mo
• Projected year-2 tax: $967 · $81/mo
• Expected delta: +$209/yr (+$17/mo · 27.6%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,356
• − Mortgage interest: −$6,022
• − Property taxes: −$758
• − Insurance: −$538
• − Repairs & maintenance: −$1,149
• − Management: −$1,149
• − Depreciation: −$3,127
• Taxable income: $1,615
• Est. tax owed @ 24.0%: −$388
• After-tax cash flow: $2,894/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

+186.7% since first listed

8 events — show timeline

• 2026-05-29 Listed $107,500 MLSOK
• 2008-10-30 Sold (MLS) $44,900 MLSOK
• 2008-10-24 Sold (Public Records) $44,000 Public Records
• 2007-08-18 Listed $54,999 MLSOK
• 2000-03-28 Sold (Public Records) $35,000 Public Records
• 2000-03-24 Sold (MLS) $34,900 MLSOK
• 1999-04-06 Listed $34,900 MLSOK
• 1982-11-01 Sold (Public Records) $37,500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $758 · +2.8% YoY. Source: county tax records.