4620 SE 22nd St · Del City, OK 73115

$135,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 38 Days on market

Built 1948 0.26 ac lot Est $114k · 18% over

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Why this score? — see what drove the F 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 +15.7/30.0
• DSCR +4.8/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Unique property featuring a move in ready home and a fully equipped 30x30 shop designed for versatility and usability. The home offers 2 bedrooms with an additional flexible room that can serve as a third bedroom, office, or bonus space (no closet). With 960 square feet, the home has been painted and is comfortable and functional, with opportunity for a buyer to update to their liking. Behind gated access, the 30x30 metal-frame shop is a standout feature and rare feature. It includes fully insulated walls and ceiling, concrete slab flooring, and a reinforced thickened concrete area designed to support heavier equipment or specialized use. An electrical panel is installed with conduit run, p

Key facts

• Gated access
• Insulated walls
• Quick access to i-40

Tags

• GATED ACCESS
• INSULATED WALLS
• CONCRETE SLAB FLOORING
• LARGE DRIVE-IN ACCESS
• QUICK ACCESS TO I-40

Property features AI

Finance

• Other: Homestead exemption indicated
• Financial info: Seller is offering the property As‑Is; Loan qualification possible
• HOA & community: No mandatory association dues

Exterior

• Parking: Additional parking and concrete pad; Backyard parking access; 1‑car garage
• Utilities: Electricity available; Public utilities
• Home design: Single family residence; One level; Property faces north; Residential property, existing
• Construction: Stone construction; Composition roof (replaced/updated 2021); Conventional foundation
• Exterior features: Outbuildings and workshop; Chain link fencing; Interior lot

Interior

• Kitchen: Free‑standing electric range/oven; Free‑standing range and oven
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: Dishwasher; Living area; Dining area; Study/office
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $58 ($700/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (17.9% below list).
• Recommended offer: $111k (17.9% below list) — sets the bar for 1% rule.

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: Del City Es (math 8% / reading 12%, grade F, #711 of 845 statewide, top 87%, 523 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; 31 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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

• It's been on market 38 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $135k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $110,856 (17.9% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.85%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $114,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4624 SE 22nd St	0.01mi	3/1.0 (+1)	1,071 (+12%)	1mo	$130,000	$121	74
4620 SE 27th St	0.33mi	2/1.0	1,017 (+6%)	0mo	$100,000	$98	74
4620 SE 21st St	0.08mi	3/1.0 (+1)	1,058 (+10%)	1mo	$110,000	$104	74
4605 SE 20th St	0.18mi	2/1.0	1,055 (+10%)	2mo	$143,000	$136	74
4804 Park Vista Dr	0.37mi	3/1.0 (+1)	979 (+2%)	1mo	$139,000	$142	74
4608 SE 23rd St	0.08mi	2/1.0	825 (-14%)	1mo	$90,000	$109	72
4732 Elmview Dr	0.66mi	3/1.5 (+1)	962 (+0%)	0mo	$155,000	$161	62
4745 SE 25th St	0.24mi	3/2.0 (+1)	1,065 (+11%)	0mo	$126,500	$119	61
4008 Pine Ave	0.55mi	3/1.0 (+1)	1,026 (+7%)	2mo	$77,500	$76	57
4404 SE 13th St	0.68mi	3/1.0 (+1)	1,026 (+7%)	2mo	$151,000	$147	50
4036 Pine Ave	0.48mi	3/1.0 (+1)	834 (-13%)	2mo	$70,000	$84	49
3904 Pine Ave	0.65mi	3/1.0 (+1)	830 (-14%)	3mo	$70,800	$85	40

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: -15.1%
• Equity multiple: 0.47×
• Total profit: $-20,122
• Equity at exit: $20,129

10-year hold

• IRR: -9.5%
• Equity multiple: 0.46×
• Total profit: $-20,516
• Equity at exit: $11,672

Cash invested: $37,800 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,109 high
• Mortgage (P&I): −$708
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $58

Break-even live

Break-even rent $1,035

Max offer price $135,000

Occupancy floor 90%

Sensitivity live

Price	-10% $135	-5% $97	+0% $58	+5% $20	+10% $-18
Rent	-10% $-29	-5% $15	+0% $58	+5% $102	+10% $146
Rate	-1.0pp $126	-0.5pp $93	base $58	+0.5pp $23	+1.0pp $-12

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4713 SE 23rd St Oklahoma City, OK	3.0	1.0	750	$1,095	$1.46	24d	1	0.14mi
4772 SE 23rd St Oklahoma City, OK	3.0	1.0	1044	$1,300	$1.25	3d	1	0.28mi
4765 SE 25th St Oklahoma City, OK	2.0	1.0	864	$895	$1.04	5d	1	0.31mi
4613 SE 27th St Oklahoma City, OK	2.0	1.0	768	$1,050	$1.37	24d	1	0.32mi
4613 SE 28th St Del City, OK	3.0	1.0	1056	$1,255	$1.19	2d	1	0.38mi
4769 SE 27th St Oklahoma City, OK	3.0	1.0	1000	$1,300	$1.30	24d	1	0.41mi
4650 SE 29th St Del City, OK	2.0	1.0	1100	$900	$0.82	24d	1	0.50mi
3932 Mallard Dr Oklahoma City, OK	3.0	1.0	958	$950	$0.99	3d	1	0.54mi
3928 Teal Dr Oklahoma City, OK	3.0	1.0	1033	$1,200	$1.16	17d	1	0.60mi
4741 Ridgeway Dr Oklahoma City, OK	2.0	1.0	615	$850	$1.38	3d	7	0.60mi
1608 Breckenridge Dr Del City, OK	2.0	1.0	820	$1,050	$1.28	3d	1	0.62mi
3900 Mallard Dr Oklahoma City, OK	3.0	1.0	960	$975	$1.02	16d	1	0.62mi
4625 Tinker Diagonal Oklahoma City, OK	1.0	1.0	600	$850	$1.42	20d	1	0.63mi
4625 Tinker Diagonal Oklahoma City, OK	1.0	1.0	600	$850	$1.42	11d	1	0.63mi
4625 Tinker Diagonal Oklahoma City, OK	2.0	2.0	900	$1,050	$1.17	12d	1	0.63mi
1700 Karen Dr Oklahoma City, OK	2.0	1.0	748	$950	$1.27	24d	1	0.66mi
4814 Kristie Dr Oklahoma City, OK	2.0	1.0	825	$895	$1.08	24d	1	0.77mi
4340 Woodedge Dr Oklahoma City, OK	3.0	1.0	1026	$1,250	$1.22	3d	1	0.79mi
3812 SE 25th St Del City, OK	3.0	1.0	1044	$1,050	$1.01	24d	1	0.80mi
3628 Firethorn Dr Oklahoma City, OK	3.0	1.0	968	$995	$1.03	24d	1	0.91mi
1321 Mallard Dr Oklahoma City, OK	3.0	1.0	920	$1,288	$1.40	24d	1	0.97mi
2312 Mustang St Oklahoma City, OK	3.0	1.5	912	$1,100	$1.21	11d	1	1.01mi
2333 Becker Pl Del City, OK	3.0	1.0	972	$1,025	$1.05	22d	1	1.10mi
3204 SE 19th St Oklahoma City, OK	2.0	1.0	822	$1,100	$1.34	5d	1	1.16mi
1424 Tanglewood Dr Oklahoma City, OK	3.0	1.0	968	$1,145	$1.18	3d	1	1.23mi
3107 SE 21st St Oklahoma City, OK	2.0	1.0	720	$900	$1.25	3d	1	1.27mi
3224 SE 24th St Oklahoma City, OK	3.0	1.0	1122	$1,195	$1.07	5d	1	1.33mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	22d	1	1.41mi
423 W Douglas Dr Oklahoma City, OK	3.0	1.0	1014	$1,095	$1.08	22d	1	1.44mi
4600 Loch Ln Oklahoma City, OK	2.0	1.0	834	$1,195	$1.43	21d	1	1.45mi
4702 Loch Ln Unit 4309 Oklahoma City, OK	2.0	1.0	950	$1,200	$1.26	5d	1	1.45mi

Listing history 8 events

1. 2026-05-21
   status Pending
2. 2026-05-15
   price $135,000
3. 2026-04-13
   listed $150,000 Active
4. 2008-11-24
   historical
5. 2008-05-21
   listed $56,990
6. 2008-02-19
   historical
7. 2007-08-18
   listed $63,000
8. 1999-06-29
   soldstatus $36,500

ⓘ 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: $639 · $53/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$576/yr (+$48/mo · 90.3%)

ⓘ 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: $13,303
• − Mortgage interest: −$7,562
• − Property taxes: −$639
• − Insurance: −$675
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$3,927
• Taxable loss: −$1,629
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $1,091/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

+269.9% since first listed

8 events — show timeline

• 2026-05-21 Pending — MLSOK
• 2026-05-15 Price Changed $135,000 MLSOK
• 2026-04-13 Listed $150,000 MLSOK
• 2008-11-24 Listing Removed — MLSOK
• 2008-05-21 Listed $56,990 MLSOK
• 2008-02-19 Listing Removed — MLSOK
• 2007-08-18 Listed $63,000 MLSOK
• 1999-06-29 Sold (Public Records) $36,500 Public Records

Property tax history

+2.2%/yr

Latest (2025): $639 · +1.4% YoY. Source: county tax records.