218 E Ercoupe Dr · Midwest City, OK 73110

$108,000

3 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 89 Days on market

Built 1944 6,752 sqft lot Est $152k · 29% under ↓ 21% since listing

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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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.4/10.0
• Livability +3.6/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Located at 218 East Ercoupe Drive in Oklahoma City, this property is a strong opportunity for investors or homeowners looking to create value. Whether you’re searching for your next flip, rental addition, or a place to update and make your own, this home offers solid potential in a stable area with consistent demand. The layout provides a functional foundation ready for cosmetic updates and improvements to maximize equity. With the right vision and upgrades, this property could easily be transformed into a desirable primary residence or income-producing asset. Ideal for a handy homeowner wanting to build sweat equity or an investor looking for their next project with upside. Opportuni

Key facts

• 6,752 sq ft lot
• Garage
• Built 1944

Property features AI

Finance

• Other: Lot size approximately 0.155 acre; Located in Atkinson Heights Addition
• Financial info: Loan qualification possible; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Security: No storm shelter
• Utilities: No water, sewer, or power details provided
• Home design: Single-family residence; One-and-one-half story; Residential property
• Construction: Frame construction; Composition roof; Conventional foundation; Built as existing (not new construction)
• Exterior features: Interior lot; Porch

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating or cooling details provided
• Interior features: Living area; Dining area; Porch; No fireplace; Existing property
• Laundry & utility: No laundry or utility details provided

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 $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.6% in Midwest 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 71/100 on livability (#30 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime D+, employment D, amenities 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: Midwest City Es (math 13% / reading 13%, grade F, #647 of 845 statewide, top 77%, 793 students, 0% FRL); Midwest City Hs (math 7% / reading 17%, grade F, #359 of 447 statewide, top 80%, 1,368 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 (+3.0%/yr); 171 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $747 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

• It's been on market 89 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1944 — 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 $101,520 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1944 — 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 D-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 D 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: 1.14% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.78%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $152,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 E Douglas Dr	0.04mi	3/2.0	1,129 (-1%)	2mo	$140,000	$124	91
313 E Jacobs Dr	0.30mi	3/1.0	1,101 (-3%)	5mo	$90,000	$82	77
507 E Curtis Dr	0.27mi	3/1.5	1,079 (-5%)	6mo	$45,000	$42	72
515 N Key Blvd	0.26mi	3/1.0	1,027 (-10%)	5mo	$155,000	$151	68
533 E Ercoupe Dr	0.34mi	3/1.0	1,008 (-11%)	2mo	$123,500	$123	64
223 E Jacobs Dr	0.27mi	3/1.0	965 (-15%)	1mo	$140,000	$145	62
208 W Jacobs Dr	0.47mi	3/1.0	1,022 (-10%)	0mo	$171,000	$167	61
1111 N Redbud Dr	0.65mi	2/1.0 (-1)	1,154 (+2%)	3mo	$155,000	$134	60
102 E Lilac Ln	0.37mi	3/1.5	1,241 (+9%)	7mo	$145,000	$117	60
202 E Northrup Dr	0.54mi	3/1.0	1,220 (+7%)	7mo	$169,000	$139	57
516 Monroney Dr	0.44mi	3/1.0	989 (-13%)	6mo	$135,000	$137	53
605 Lions Park Pl	0.58mi	3/1.5	989 (-13%)	1mo	$85,000	$86	49

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 · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-219
• Equity at exit: $16,103

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $22,003
• Equity at exit: $9,338

Cash invested: $30,240 (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 73110

• Rents YoY: 3.0%
• Active inventory: 171
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,233 high
• Mortgage (P&I): −$566
• Tax from tax record: −$91 /mo · $1,091/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $272

Break-even live

Break-even rent $889

Max offer price $108,000

Occupancy floor 73%

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 E Grumman Dr Oklahoma City, OK	3.0	1.0	1219	$1,300	$1.07	24d	1	0.14mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	4d	1	0.19mi
316 E Harmon Dr Oklahoma City, OK	3.0	1.0	1212	$1,395	$1.15	3d	1	0.20mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	24d	1	0.20mi
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	3d	1	0.23mi
205 N Key Blvd Oklahoma City, OK	2.0	1.0	1047	$995	$0.95	21d	1	0.24mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	17d	1	0.29mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	21d	1	0.39mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	3d	1	0.39mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	4d	1	0.40mi
209 W Douglas Dr Oklahoma City, OK	2.0	1.0	952	$895	$0.94	17d	1	0.40mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	4d	1	0.41mi
208 W Ercoupe Dr Oklahoma City, OK	3.0	1.0	1125	$1,500	$1.33	24d	1	0.41mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	2d	5	0.49mi
210 W Jacobs Dr Oklahoma City, OK	3.0	1.0	1200	$1,200	$1.00	24d	1	0.50mi
124 E Northrup Dr Oklahoma City, OK	4.0	1.0	1085	$1,400	$1.29	24d	1	0.55mi
120 E Northrup Dr Oklahoma City, OK	4.0	2.0	1364	$1,475	$1.08	24d	1	0.55mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	2d	1	0.56mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	3d	1	0.57mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	3d	1	0.58mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	24d	1	0.61mi
407 W Fairchild Dr Oklahoma City, OK	3.0	1.0	1062	$1,045	$0.98	3d	1	0.63mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	3d	1	0.64mi
110 E Myrtle Dr Oklahoma City, OK	3.0	1.5	1236	$1,300	$1.05	12d	1	0.70mi
423 W Douglas Dr Oklahoma City, OK	3.0	1.0	1014	$1,095	$1.08	21d	1	0.73mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	24d	1	0.77mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	4d	1	0.77mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	17d	1	0.78mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	3d	1	0.79mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	24d	1	0.83mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	21d	1	0.84mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	4d	1	0.84mi
1436 Maple Dr Oklahoma City, OK	4.0	2.0	1409	$1,350	$0.96	16d	1	0.93mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	24d	1	0.96mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	21d	1	1.10mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	24d	1	1.10mi
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	3d	1	1.17mi
407 E Key Blvd Oklahoma City, OK	4.0	2.0	1200	$1,395	$1.16	24d	1	1.21mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	24d	1	1.26mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	24d	1	1.28mi

Listing history 5 events

1. 2026-06-01
   days on market $108,000 Active 89 DOM
2. 2026-05-31
   days on market $108,000 Active 88 DOM
3. 2026-04-01
   price $118,000
4. 2026-03-19
   price $135,000
5. 2026-03-04
   listed $150,000 Active

ⓘ 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: $1,091 · $91/mo
• Projected year-2 tax: $1,091 · $91/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,794
• − Mortgage interest: −$6,050
• − Property taxes: −$1,091
• − Insurance: −$540
• − Repairs & maintenance: −$1,184
• − Management: −$1,184
• − Depreciation: −$3,142
• Taxable income: $1,604
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $2,875/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 — Midwest City

• Score: 71/100
• State rank: #30
• US rank: #6637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midwest City, OK
• County: Oklahoma County · 771,644 people
• City population: 57,386
• Metro: Oklahoma City, OK
• Population (ZIP): 32,348
• Household income: $51,228
• Rent vs Own: 54.9% rent · 45.1% own
• Severe rent burden: 1440.0

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 0.63)
• Race & ethnicity: White 55% Black 25% Two or more races 11% Hispanic / Latino 7% Native American 4% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -156.25%
• Current HPI: 257.0791
• Rent YoY: ▲ 2.99%
• 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

-21.3% since first listed

3 events — show timeline

• 2026-04-01 Price Changed $118,000 MLSOK
• 2026-03-19 Price Changed $135,000 MLSOK
• 2026-03-04 Listed $150,000 MLSOK

Property tax history

+5.1%/yr

Latest (2025): $1,091 · +2.5% YoY. Source: county tax records.