737 E Steed Dr · Midwest City, OK 73110

$129,900

3 bd · 1.0 ba · 936 sqft · SingleFamily public records · 187 Days on market

Built 1953 6,761 sqft lot Est $131k · 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 +21.0/30.0
• ARV discount +7.9/15.0
• DSCR +6.7/10.0
• 1% rule +4.6/10.0
• 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

Very well taken care of 3 bedroom 1 bath home, with a 12x25' detached garage! The home has updated double pane vinyl windows with updated HVAC, plumbing and appliances. Great curb appeal in a great neighborhood! Home has been in probate proceedings.

Key facts

• Updated appliances
• Great neighborhood
• Curb appeal

Tags

• DETACHED GARAGE
• UPDATED HVAC
• UPDATED PLUMBING
• UPDATED APPLIANCES
• CURB APPEAL
• GREAT NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $182 ($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 $124k (4.3% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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: Country Estates Es (math 12% / reading 17%, grade F, #604 of 845 statewide, top 76%, 335 students, 0% FRL); Midwest City Ms (math 5% / reading 14%, grade F, #299 of 345 statewide, top 88%, 1,046 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); 173 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 6d 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 $898 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 187 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $130k implies a 420% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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: 0.96% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.01%
• DSCR: 1.27
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $131,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
517 E Kerr Dr	0.26mi	3/1.0	925 (-1%)	1mo	$140,000	$151	85
837 S Stahl Dr	0.31mi	3/1.0	975 (+4%)	1mo	$141,000	$145	78
717 S Midwest Blvd	0.32mi	3/1.0	868 (-7%)	4mo	$121,500	$140	70
2113 Turner Dr	0.39mi	2/1.0 (-1)	960 (+3%)	4mo	$65,000	$68	69
705 Stahl Dr	0.14mi	3/1.0	1,067 (+14%)	2mo	$121,500	$114	69
404 E Jarman Dr	0.36mi	2/1.0 (-1)	972 (+4%)	6mo	$60,000	$62	67
411 Showalter Dr	0.60mi	3/1.5	925 (-1%)	4mo	$62,000	$67	64
605 Lions Park Pl	0.68mi	3/1.5	989 (+6%)	1mo	$85,000	$86	56
2420 Murray Dr	0.74mi	3/1.0	975 (+4%)	8mo	$137,500	$141	52
544 E Northrup Dr	0.53mi	2/1.0 (-1)	835 (-11%)	5mo	$142,000	$170	48
2600 N Towry Dr	0.70mi	3/1.5	1,029 (+10%)	2mo	$165,000	$160	47
264 E Coe Dr	0.53mi	3/1.0	1,072 (+14%)	9mo	$130,000	$121	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 · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-9,497
• Equity at exit: $19,369

10-year hold

• IRR: 2.5%
• Equity multiple: 1.18×
• Total profit: $6,455
• Equity at exit: $11,231

Cash invested: $36,372 (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: 173
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,243 high
• Mortgage (P&I): −$681
• Tax from tax record: −$65 /mo · $776/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $182

Break-even live

Break-even rent $1,013

Max offer price $129,900

Occupancy floor 80%

Sensitivity live

Price	-10% $256	-5% $219	+0% $182	+5% $145	+10% $109
Rent	-10% $84	-5% $133	+0% $182	+5% $231	+10% $280
Rate	-1.0pp $248	-0.5pp $215	base $182	+0.5pp $149	+1.0pp $114

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	4d	1	0.09mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	25d	1	0.11mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	25d	1	0.39mi
641 E Frolich Dr Oklahoma City, OK	3.0	1.5	1032	$975	$0.94	25d	1	0.40mi
721 E Bouse Dr Oklahoma City, OK	3.0	1.0	1002	$1,225	$1.22	4d	1	0.55mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	4d	1	0.55mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	25d	1	0.57mi
8032 E Reno Ave Oklahoma City, OK	1.0–2.0	1.0	770	$850	$1.10	4d	3	0.63mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	3d	1	0.63mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	4d	1	0.65mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	4d	1	0.71mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	6d	1	0.77mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	6d	1	0.78mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	25d	1	0.81mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	25d	1	0.83mi
124 E Northrup Dr Oklahoma City, OK	4.0	1.0	1085	$1,400	$1.29	25d	1	0.84mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	23d	1	0.86mi
121 Gill Dr Oklahoma City, OK	3.0	1.0	950	$1,150	$1.21	3d	1	0.87mi
8517 E Reno Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	837	$859	$1.03	6d	1	0.88mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	6d	1	0.89mi
677 Midtown Pl Midwest City, OK	1.0–2.0	1.0–2.0	770	$1,450	$1.88	3d	1	0.91mi
327 N Midwest Blvd Unit 205 Midwest City, OK	2.0	1.0	920	$900	$0.98	25d	1	0.99mi
8717 Saint George Way Oklahoma City, OK	2.0	2.0	1075	$1,150	$1.07	25d	1	0.99mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	25d	1	1.03mi
8801 Saint George Way Oklahoma City, OK	3.0	2.0	1122	$1,175	$1.05	25d	1	1.06mi
8801 Saint George Way Oklahoma City, OK	3.0	2.0	1122	$1,175	$1.05	12d	1	1.06mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	6d	1	1.11mi
9225 Stonegate Oklahoma City, OK	2.0	1.0	870	$1,025	$1.18	3d	1	1.14mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	18d	1	1.16mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	25d	1	1.17mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	4d	1	1.17mi
205 N Key Blvd Oklahoma City, OK	2.0	1.0	1047	$995	$0.95	23d	1	1.23mi
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	4d	1	1.25mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	6d	1	1.28mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	23d	1	1.28mi
3409 Willow Creek Dr Oklahoma City, OK	3.0	1.0	932	$1,050	$1.13	25d	1	1.29mi
3413 Willow Creek Dr Oklahoma City, OK	3.0	1.0	872	$975	$1.12	4d	1	1.30mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	4d	5	1.32mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	18d	1	1.33mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	4d	1	1.33mi

Listing history 23 events

1. 2026-06-21
   days on market $129,900 Active 187 DOM
2. 2026-06-18
   days on market $129,900 Active 184 DOM
3. 2026-06-17
   days on market $129,900 Active 183 DOM
4. 2026-06-16
   days on market $129,900 Active 182 DOM
5. 2026-06-15
   days on market $129,900 Active 181 DOM
6. 2026-06-13
   days on market $129,900 Active 179 DOM
7. 2026-06-13
   days on market $129,900 Active 178 DOM
8. 2026-06-09
   days on market $129,900 Active 175 DOM
9. 2026-06-08
   days on market $129,900 Active 174 DOM
10. 2026-06-07
    days on market $129,900 Active 173 DOM
11. 2026-06-05
    days on market $129,900 Active 170 DOM
12. 2026-06-03
    days on market $129,900 Active 169 DOM
13. 2026-06-02
    days on market $129,900 Active 168 DOM
14. 2026-06-01
    days on market $129,900 Active 167 DOM
15. 2026-05-31
    days on market $129,900 Active 166 DOM
16. 2026-04-04
    status Pending
17. 2026-03-01
    status Active
18. 2026-02-28
    historical
19. 2026-02-26
    price $129,900
20. 2026-01-18
    price $134,900
21. 2025-12-15
    price $139,900
22. 2025-10-17
    listed $149,900 Active
23. 1995-07-20
    soldstatus $25,000

ⓘ 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: $776 · $65/mo
• Projected year-2 tax: $1,169 · $97/mo
• Expected delta: +$393/yr (+$33/mo · 50.6%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,920
• − Mortgage interest: −$7,276
• − Property taxes: −$776
• − Insurance: −$650
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$3,779
• Taxable income: $52
• Est. tax owed @ 24.0%: −$12
• After-tax cash flow: $2,174/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

+419.6% since first listed

8 events — show timeline

• 2026-04-04 Pending — MLSOK
• 2026-03-01 Relisted — MLSOK
• 2026-02-28 Listing Removed — MLSOK
• 2026-02-26 Price Changed $129,900 MLSOK
• 2026-01-18 Price Changed $134,900 MLSOK
• 2025-12-15 Price Changed $139,900 MLSOK
• 2025-10-17 Listed $149,900 MLSOK
• 1995-07-20 Sold (Public Records) $25,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $776 · +2.5% YoY. Source: county tax records.