4501 SE 21st St · Del City, OK 73115

$127,333

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 132 Days on market

Built 1948 10,424 sqft lot Est $97k · 32% 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 +15.3/30.0
• DSCR +4.7/10.0
• 1% rule +3.5/10.0
• 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

Charming 2-Bedroom Home in Del City Welcome to 4501 SE 21st Street, a well-located 2-bedroom home in the heart of Del City, Oklahoma. This property offers a functional floor plan with comfortable living spaces, making it an excellent option for first-time homebuyers, downsizers, or investors. The home features a spacious living area, two generously sized bedrooms, and a practical kitchen with ample cabinet space. Outside, enjoy a large yard with room for outdoor entertaining, gardening, or future improvements. Conveniently located near Tinker Air Force Base, major highways, shopping, and dining, this home provides easy access to downtown Oklahoma City while maintaining the charm of a quiet

Key facts

• Spacious living area
• Large yard
• Practical kitchen

Tags

• FUNCTIONAL FLOOR PLAN
• SPACIOUS LIVING AREA
• PRACTICAL KITCHEN
• LARGE YARD
• EASY ACCESS TO DOWNTOWN

Property features AI

Finance

• Other: Owner is an associate (condition affecting sale)
• Financial info: Not assumable; Loan qualification possible
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Home design: Single family residence; One level; Residential property
• Construction: Stone exterior; Architectural shingle roof (replaced/updated 2022); Conventional foundation
• Exterior features: Covered porch; Interior lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating
• Interior features: No fireplace; No in-law plan

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $127k.

Deal economics

• At list price, monthly cash flow is $46 ($552/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 $109k (14.6% below list).
• Recommended offer: $109k (14.6% 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: Epperly Heights Es (math 2% / reading 8%, grade F, #766 of 845 statewide, top 94%, 644 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; 27 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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 $881 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 132 days — a 12% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask is 9510% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $108,734 (14.6% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 15% 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. 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. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.55%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $96,525
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4608 SE 23rd St	0.21mi	2/1.0	825 (0%)	1mo	$90,000	$109	89
2109 SE Mickey Rd	0.11mi	3/1.0 (+1)	849 (+3%)	7mo	$114,500	$135	79
4036 Pine Ave	0.28mi	3/1.0 (+1)	834 (+1%)	2mo	$70,000	$84	78
4229 SE 22nd St	0.28mi	2/1.0	790 (-4%)	5mo	$105,000	$133	76
3904 Pine Ave	0.45mi	3/1.0 (+1)	830 (+1%)	3mo	$70,800	$85	71
4601 SE 26th St	0.35mi	2/1.0	874 (+6%)	5mo	$119,000	$136	69
1812 Karen Dr	0.43mi	2/1.0	748 (-9%)	2mo	$27,000	$36	63
1705 Elm Dr	0.53mi	2/1.0	760 (-8%)	2mo	$60,000	$79	60
3724 SE 15th St	0.69mi	2/1.0	836 (+1%)	8mo	$97,000	$116	59
4753 SE 19th St	0.41mi	3/1.0 (+1)	913 (+11%)	4mo	$115,000	$126	54
4012 SE 24th St	0.54mi	2/1.0	725 (-12%)	7mo	$88,000	$121	48
3904 SE 25th St	0.64mi	2/1.0	725 (-12%)	8mo	$84,900	$117	43

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: -15.7%
• Equity multiple: 0.45×
• Total profit: $-19,599
• Equity at exit: $18,986

10-year hold

• IRR: -10.3%
• Equity multiple: 0.42×
• Total profit: $-20,809
• Equity at exit: $11,009

Cash invested: $35,653 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,087 high
• Mortgage (P&I): −$668
• Tax from tax record: −$92 /mo · $1,106/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $46

Break-even live

Break-even rent $1,029

Max offer price $127,333

Occupancy floor 91%

Sensitivity live

Price	-10% $118	-5% $82	+0% $46	+5% $10	+10% $-26
Rent	-10% $-40	-5% $3	+0% $46	+5% $89	+10% $132
Rate	-1.0pp $110	-0.5pp $78	base $46	+0.5pp $13	+1.0pp $-21

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: $31,833
• Closing costs: $3,820
• Reserves months: —
• Total cash needed: —

Rent comps 27 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	0.32mi
3932 Mallard Dr Oklahoma City, OK	3.0	1.0	958	$950	$0.99	3d	1	0.37mi
3928 Teal Dr Oklahoma City, OK	3.0	1.0	1033	$1,200	$1.16	17d	1	0.41mi
4613 SE 27th St Oklahoma City, OK	2.0	1.0	768	$1,050	$1.37	24d	1	0.43mi
1608 Breckenridge Dr Del City, OK	2.0	1.0	820	$1,050	$1.28	3d	1	0.44mi
3900 Mallard Dr Oklahoma City, OK	3.0	1.0	960	$975	$1.02	16d	1	0.45mi
4772 SE 23rd St Oklahoma City, OK	3.0	1.0	1044	$1,300	$1.25	3d	1	0.46mi
4613 SE 28th St Del City, OK	3.0	1.0	1056	$1,255	$1.19	2d	1	0.48mi
4765 SE 25th St Oklahoma City, OK	2.0	1.0	864	$895	$1.04	4d	1	0.49mi
1700 Karen Dr Oklahoma City, OK	2.0	1.0	748	$950	$1.27	24d	1	0.49mi
4769 SE 27th St Oklahoma City, OK	3.0	1.0	1000	$1,300	$1.30	24d	1	0.58mi
4650 SE 29th St Del City, OK	2.0	1.0	1100	$900	$0.82	24d	1	0.61mi
4625 Tinker Diagonal Oklahoma City, OK	1.0	1.0	600	$850	$1.42	20d	1	0.62mi
4625 Tinker Diagonal Oklahoma City, OK	1.0	1.0	600	$850	$1.42	11d	1	0.62mi
4625 Tinker Diagonal Oklahoma City, OK	2.0	2.0	900	$1,050	$1.17	12d	1	0.62mi
4340 Woodedge Dr Oklahoma City, OK	3.0	1.0	1026	$1,250	$1.22	3d	1	0.67mi
3812 SE 25th St Del City, OK	3.0	1.0	1044	$1,050	$1.01	24d	1	0.67mi
3628 Firethorn Dr Oklahoma City, OK	3.0	1.0	968	$995	$1.03	24d	1	0.72mi
4741 Ridgeway Dr Oklahoma City, OK	2.0	1.0	615	$850	$1.38	3d	7	0.73mi
1321 Mallard Dr Oklahoma City, OK	3.0	1.0	920	$1,288	$1.40	24d	1	0.78mi
2312 Mustang St Oklahoma City, OK	3.0	1.5	912	$1,100	$1.21	11d	1	0.85mi
4814 Kristie Dr Oklahoma City, OK	2.0	1.0	825	$895	$1.08	24d	1	0.94mi
2333 Becker Pl Del City, OK	3.0	1.0	972	$1,025	$1.05	21d	1	0.94mi
3204 SE 19th St Oklahoma City, OK	2.0	1.0	822	$1,100	$1.34	4d	1	0.99mi
1424 Tanglewood Dr Oklahoma City, OK	3.0	1.0	968	$1,145	$1.18	3d	1	1.05mi
3107 SE 21st St Oklahoma City, OK	2.0	1.0	720	$900	$1.25	3d	1	1.10mi
3224 SE 24th St Oklahoma City, OK	3.0	1.0	1122	$1,195	$1.07	4d	1	1.18mi

Listing history 24 events

1. 2026-06-18
   days on market $127,333 Active 132 DOM
2. 2026-06-17
   days on market $127,333 Active 131 DOM
3. 2026-06-16
   days on market $127,333 Active 130 DOM
4. 2026-06-15
   days on market $127,333 Active 129 DOM
5. 2026-06-13
   days on market $127,333 Active 127 DOM
6. 2026-06-13
   days on market $127,333 Active 126 DOM
7. 2026-06-09
   days on market $127,333 Active 123 DOM
8. 2026-06-08
   days on market $127,333 Active 122 DOM
9. 2026-06-07
   days on market $127,333 Active 121 DOM
10. 2026-06-05
    days on market $127,333 Active 118 DOM
11. 2026-06-03
    days on market $127,333 Active 117 DOM
12. 2026-06-02
    days on market $127,333 Active 116 DOM
13. 2026-06-01
    days on market $127,333 Active 115 DOM
14. 2026-05-31
    days on market $127,333 Active 114 DOM
15. 2026-02-13
    price $1,397
16. 2026-02-10
    listed $1,325
17. 2026-02-06
    listed $127,333 Active
18. 2025-09-03
    historical $1,325
19. 2025-06-19
    listed $1,325
20. 2024-04-07
    historical $1,100
21. 2024-03-22
    listed $1,100
22. 2023-09-07
    soldstatus $1,137,000
23. 2014-10-29
    soldstatus $50,100
24. 1997-05-16
    soldstatus $27,000

ⓘ 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: $1,106 · $92/mo
• Projected year-2 tax: $1,146 · $95/mo
• Expected delta: +$40/yr (+$3/mo · 3.6%)

ⓘ 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: $13,048
• − Mortgage interest: −$7,133
• − Property taxes: −$1,106
• − Insurance: −$637
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$3,704
• Taxable loss: −$1,619
• Est. tax savings @ 24.0%: +$389
• After-tax cash flow: $941/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

-94.8% since first listed

10 events — show timeline

• 2026-02-13 Price Changed $1,397 APPFOLIO
• 2026-02-10 Listed for Rent $1,325 APPFOLIO
• 2026-02-06 Listed $127,333 MLSOK
• 2025-09-03 Rental Removed $1,325 APPFOLIO
• 2025-06-19 Listed for Rent $1,325 APPFOLIO
• 2024-04-07 Rental Removed $1,100 APPFOLIO
• 2024-03-22 Listed for Rent $1,100 APPFOLIO
• 2023-09-07 Sold (Public Records) $1,137,000 Public Records
• 2014-10-29 Sold (Public Records) $50,100 Public Records
• 1997-05-16 Sold (Public Records) $27,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,106 · +2.8% YoY. Source: county tax records.