2013 Albert Dr · Midwest City, OK 73130

$140,000

3 bd · 1.0 ba · 928 sqft · SingleFamily public records · 11 Days on market

Built 1963 7,200 sqft lot Est $142k · at est.

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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 +20.8/30.0
• ARV discount +8.1/15.0
• DSCR +6.6/10.0
• 1% rule +4.4/10.0
• Rent growth +3.9/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This one has great bones but needs your TLC. .. A 3-bed, 1-bath, with an addition converted garage creating a second living room or study. Ceiling Fans in every bedroom and living room. A spacious, fenced backyard featuring a huge covered back patio offers additional outdoor space for entertaining. You can't beat this location! Close to everything within 10 minutes - Tinker Air Force Base, Downtown Oklahoma City, shopping, entertainment, restaurants - you name it!

Key facts

• Second living room
• Converted garage
• Covered back patio

Tags

• FENCED BACKYARD
• COVERED BACK PATIO
• CONVERTED GARAGE
• SECOND LIVING ROOM
• CLOSE TO TINKER AIR FORCE BASE

Property features AI

Finance

• Other: Homestead eligible; Located in Rhapsody Heights 4th addition; No storm shelter
• HOA & community: No mandatory association dues

Exterior

• Utilities: Cable available; Electricity available; Natural gas available; Public water/sewer
• Home design: Single family residence; One level; East-facing
• Construction: Brick and frame construction; Composition roof; Conventional foundation; Built as existing property
• Exterior features: Covered patio; Covered porch; Interior lot

Interior

• Kitchen: Freestanding electric range/oven
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Ceiling fan(s); Wood-burning fireplace
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/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 $131k (6.2% below list).
• Recommended offer: $131k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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: Schwartz Es (math 62% / reading 62%, grade B, #6 of 845 statewide, top 1%, 330 students, 0% FRL); Carl Albert Hs (math 16% / reading 33%, grade F, #150 of 447 statewide, top 48%, 1,115 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.
• Zoned-school proficiency averages 43% at this address vs 14% district-wide (+30 pts) — the actual schools serving this property are materially stronger than the Midwest City-Del City average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.7%/yr); 167 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $968 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,388 (6.2% below list)

Questions for the listing agent

1. Built in 1963 — 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 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?
4. 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?
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: 0.94% ✗
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $141,984
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9601 Sonata Ct	0.22mi	3/1.0	960 (+3%)	17mo	$107,000	$111	70
1904 Albert Dr	0.12mi	3/1.5	816 (-12%)	6mo	$125,000	$153	67
1704 Symphony Ln	0.38mi	3/1.0	981 (+6%)	8mo	$155,000	$158	66
1725 Melody Dr	0.52mi	3/1.5	924 (-0%)	11mo	$115,000	$124	64
1628 Waltz Way	0.49mi	3/1.5	949 (+2%)	11mo	$170,000	$179	62
9244 Orange Dr	0.52mi	2/2.0 (-1)	1,000 (+8%)	13mo	$145,000	$145	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 · 5.73% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-6,782
• Equity at exit: $20,874

10-year hold

• IRR: 7.8%
• Equity multiple: 1.66×
• Total profit: $25,737
• Equity at exit: $12,105

Cash invested: $39,200 (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 73130

• Home prices YoY: -21.0%
• Rents YoY: 5.7%
• Active inventory: 167
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,314 high
• Mortgage (P&I): −$734
• Tax from tax record: −$53 /mo · $637/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $192

Break-even live

Break-even rent $1,070

Max offer price $140,000

Occupancy floor 80%

Sensitivity live

Price	-10% $272	-5% $232	+0% $192	+5% $153	+10% $113
Rent	-10% $89	-5% $140	+0% $192	+5% $244	+10% $296
Rate	-1.0pp $263	-0.5pp $228	base $192	+0.5pp $156	+1.0pp $119

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9409 Rhythm Rd Oklahoma City, OK	3.0	1.5	1087	$1,250	$1.15	22d	1	0.32mi
9429 SE 29th St Oklahoma City, OK	3.0	1.0	896	$999	$1.11	3d	1	0.46mi
9225 Stonegate Oklahoma City, OK	2.0	1.0	870	$1,025	$1.18	3d	1	0.61mi
677 Midtown Pl Midwest City, OK	1.0–2.0	1.0–2.0	770	$1,450	$1.88	2d	1	0.84mi
9619 SE 4th St Oklahoma City, OK	2.0	1.0	640	$880	$1.38	24d	1	1.22mi

Listing history 3 events

1. 2026-04-30
   status Pending
2. 2026-04-19
   price $140,000
3. 2026-04-18
   listed $140 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: $637 · $53/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$623/yr (+$52/mo · 97.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 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: $15,767
• − Mortgage interest: −$7,842
• − Property taxes: −$637
• − Insurance: −$700
• − Repairs & maintenance: −$1,261
• − Management: −$1,261
• − Depreciation: −$4,073
• Taxable loss: −$8
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $2,310/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): 21,476
• Household income: $71,189
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 378.0

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 0.60)
• Race & ethnicity: White 60% Black 18% Two or more races 14% Hispanic / Latino 7% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Tagalog/Filipino 1%

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: ▼ -65.22%
• Current HPI: 245.8385
• Rent YoY: ▲ 5.73%
• 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

3 events — show timeline

• 2026-04-30 Pending — MLSOK
• 2026-04-19 Price Changed $140,000 MLSOK
• 2026-04-18 Listed $140 MLSOK

Property tax history

+2.8%/yr

Latest (2025): $637 · +27.6% YoY. Source: county tax records.