224 E Myrtle Ln · Midwest City, OK 73110

$130,000

3 bd · 1.0 ba · 1,119 sqft · SingleFamily public records · 2 Days on market

Built 1947 7,022 sqft lot Est $152k · 15% under

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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 +21.4/30.0
• ARV discount +14.1/15.0
• DSCR +6.8/10.0
• 1% rule +4.8/10.0
• 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 MLS

Move in ready!! Very well maintained home with 3 beds and 2 living areas. New ceramic tile in the kitchen and dining. Large backyard with 2 storage sheds. This is a perfect home for someone needing extra space. The add on would be perfect to use for the master bed and would make it 4 bedrooms. Storm shelter under the carport. Brand new roof on the house, both sheds and the carport roof is coming soon!!

Key facts

• New hvac system
• 7,022 sq ft lot
• Built 1947

Tags

• COSMETIC IMPROVEMENTS
• MAJOR CAPITAL UPDATES
• ROOF APPROXIMATELY 4 YEARS OLD
• NEW HVAC SYSTEM
• UPDATED ELECTRICAL COMPONENTS
• FOUNDATION STABILIZATION

Property features AI

Finance

• Other: Homestead exemption indicated
• Financial info: Listed as-is; cash offers accepted; Assumable financing not available; Loan qualification indicated as not available
• HOA & community: No mandatory association dues

Exterior

• Security: Storm shelter
• Utilities: Cable available; Electricity available; Natural gas available; Public utilities
• Home design: Single family residence; One level; Property faces north; Residential property
• Construction: Frame and masonry veneer exterior; Composition roof (replaced or installed 2022); Conventional foundation
• Exterior features: Porch; Interior lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; One dining area; No fireplace; Never occupied

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 $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 $128k (1.6% below list).
• Recommended offer: $128k (1.6% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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 $899 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $127,945 (1.6% below list)

Questions for the listing agent

1. Built in 1947 — 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: 0.98% ✗
• Cap rate: 8.06%
• Cash-on-cash: 6.32%
• DSCR: 1.28
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $152,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 N Redbud Dr	0.24mi	2/1.0 (-1)	1,154 (+3%)	3mo	$155,000	$134	76
313 E Jacobs Dr	0.46mi	3/1.0	1,101 (-2%)	5mo	$90,000	$82	72
317 E Key Blvd	0.65mi	3/1.0	1,107 (-1%)	5mo	$90,000	$81	64
208 W Jacobs Dr	0.49mi	3/1.0	1,022 (-9%)	0mo	$171,000	$167	62
217 E Douglas Dr	0.69mi	3/2.0	1,129 (+1%)	2mo	$140,000	$124	60
223 E Jacobs Dr	0.40mi	3/1.0	965 (-14%)	1mo	$140,000	$145	57
1616 Rulane Dr	0.73mi	3/1.5	1,089 (-3%)	4mo	$169,500	$156	56
515 N Key Blvd	0.58mi	3/1.0	1,027 (-8%)	5mo	$155,000	$151	55
1820 Sandra Dr	0.70mi	2/1.0 (-1)	1,045 (-7%)	1mo	$98,000	$94	50
116 W Jarman Dr	0.66mi	3/1.0	1,004 (-10%)	3mo	$145,000	$144	50
605 Lions Park Pl	0.66mi	3/1.5	989 (-12%)	1mo	$85,000	$86	47
713 E Proctor Pl	0.73mi	3/1.0	990 (-12%)	2mo	$135,000	$136	45

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-8,895
• Equity at exit: $19,383

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $7,808
• Equity at exit: $11,240

Cash invested: $36,400 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$682
• Tax from tax record: −$83 /mo · $997/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $192

Break-even live

Break-even rent $1,037

Max offer price $130,000

Occupancy floor 80%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 E Northrup Dr Oklahoma City, OK	4.0	1.0	1085	$1,400	$1.29	24d	1	0.15mi
120 E Northrup Dr Oklahoma City, OK	4.0	2.0	1364	$1,475	$1.08	24d	1	0.15mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	4d	1	0.16mi
110 E Myrtle Dr Oklahoma City, OK	3.0	1.5	1236	$1,300	$1.05	12d	1	0.18mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	24d	1	0.21mi
1436 Maple Dr Oklahoma City, OK	4.0	2.0	1409	$1,350	$0.96	16d	1	0.24mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	3d	1	0.27mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	24d	1	0.27mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	2d	1	0.32mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	17d	1	0.40mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	24d	1	0.42mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	3d	1	0.42mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	4d	1	0.44mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	4d	1	0.44mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	3d	1	0.48mi
316 E Harmon Dr Oklahoma City, OK	3.0	1.0	1212	$1,395	$1.15	3d	1	0.53mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	4d	1	0.53mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	21d	1	0.53mi
210 W Jacobs Dr Oklahoma City, OK	3.0	1.0	1200	$1,200	$1.00	24d	1	0.53mi
306 E Grumman Dr Oklahoma City, OK	3.0	1.0	1219	$1,300	$1.07	24d	1	0.57mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	24d	1	0.59mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	2d	5	0.60mi
407 E Key Blvd Oklahoma City, OK	4.0	2.0	1200	$1,395	$1.16	24d	1	0.62mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	24d	1	0.62mi
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	3d	1	0.64mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	3d	1	0.65mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	24d	1	0.65mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	24d	1	0.65mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	21d	1	0.66mi
221 E Kerr Dr Oklahoma City, OK	3.0	1.5	1339	$1,145	$0.86	4d	1	0.68mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	3d	1	0.69mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	24d	1	0.69mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	17d	1	0.69mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	21d	1	0.72mi
208 W Ercoupe Dr Oklahoma City, OK	3.0	1.0	1125	$1,500	$1.33	24d	1	0.74mi
209 W Douglas Dr Oklahoma City, OK	2.0	1.0	952	$895	$0.94	17d	1	0.76mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	4d	1	0.77mi
407 W Fairchild Dr Oklahoma City, OK	3.0	1.0	1062	$1,045	$0.98	3d	1	0.78mi
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	3d	1	0.80mi
1933 Rulane Dr Oklahoma City, OK	4.0	1.0	1500	$1,250	$0.83	24d	1	0.85mi

Listing history 3 events

1. 2026-06-18
   days on market $130,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $130,000 Active 1 DOM

ⓘ 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: $997 · $83/mo
• Projected year-2 tax: $1,170 · $98/mo
• Expected delta: +$173/yr (+$14/mo · 17.3%)

ⓘ 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 5/10 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: $15,353
• − Mortgage interest: −$7,282
• − Property taxes: −$997
• − Insurance: −$650
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$3,782
• Taxable income: $186
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $2,257/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

+602.7% since first listed

19 events — show timeline

• 2026-06-15 Listed $130,000 MLSOK
• 2025-06-02 Rental Removed $1,100 APPFOLIO
• 2025-05-06 Listed for Rent $1,100 APPFOLIO
• 2024-03-14 Rental Removed $1,025 APPFOLIO
• 2024-01-26 Price Changed $1,025 APPFOLIO
• 2024-01-12 Listed for Rent $1,050 APPFOLIO
• 2022-07-12 Sold (Public Records) $200,000 Public Records
• 2018-06-19 Sold (Public Records) $65,000 Public Records
• 2018-06-15 Sold (MLS) $66,500 MLSOK
• 2018-06-01 Pending — MLSOK
• 2018-05-17 Price Changed $73,000 MLSOK
• 2018-05-11 Price Changed $86,000 MLSOK
• 2018-04-25 Price Changed $72,500 MLSOK
• 2018-04-02 Price Changed $74,000 MLSOK
• 2018-03-23 Price Changed $79,900 MLSOK
• 2018-03-21 Price Changed $84,000 MLSOK
• 2018-03-14 Listed $86,000 MLSOK
• 1997-12-29 Sold (Public Records) $46,500 Public Records
• 1981-06-01 Sold (Public Records) $18,500 Public Records

Property tax history

+7.7%/yr

Latest (2025): $997 · +2.5% YoY. Source: county tax records.