508 E Boeing Dr · Midwest City, OK 73110

$62,000

2 bd · 1.0 ba · 837 sqft · SingleFamily public records · 34 Days on market

Built 1944 6,451 sqft lot Est $114k · 46% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Solid investment opportunity in Midwest City. This property offers strong potential for a rental or value-add project with room to increase equity. Ideal for investors or handy homeowners looking to build sweat equity. Functional layout with opportunity to update and customize. Located in a convenient area with easy access to Tinker AFB, shopping, and major highways. Bring your vision—great chance to add to your portfolio or create your next project.

Key facts

• Easy access
• Convenient area
• Functional layout

Tags

• INVESTMENT OPPORTUNITY
• FUNCTIONAL LAYOUT
• CONVENIENT AREA
• EASY ACCESS

Property features AI

Finance

• Other: Occupied; Conditions affecting sale: None; Days on market: 6; Price recently decreased
• Financial info: Loan qualification: Yes; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Circle drive; 2-car garage
• Utilities: Manual geocode source
• Home design: Single family residence; One level; Residential property
• Construction: Brick and frame construction; Composition roof; Conventional foundation; Existing property
• Exterior features: Porch; Interior lot

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central gas cooling
• Interior features: Living area with one living area; One dining area; No fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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); 173 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $429 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $62k implies a 176% gain — meaningful room to come down on a strong offer.

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 $60,140 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.71% ✓
• Cap rate: 14.28%
• Cash-on-cash: 28.54%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $113,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 E Curtis Dr	0.05mi	2/1.0	864 (+3%)	4mo	$68,000	$79	89
517 E Boeing Dr	0.05mi	2/1.0	864 (+3%)	6mo	$115,000	$133	88
507 N Key Blvd	0.30mi	2/1.0	837 (0%)	1mo	$80,000	$96	85
521 E Douglas Dr	0.14mi	2/1.0	864 (+3%)	5mo	$120,000	$139	84
508 E Curtis Dr	0.05mi	2/1.0	899 (+7%)	4mo	$132,000	$147	82
413 N Marshall Dr	0.24mi	2/1.0	796 (-5%)	2mo	$80,000	$101	79
320 E Fairchild Dr	0.29mi	3/1.0 (+1)	899 (+7%)	2mo	$111,000	$123	67
544 E Northrup Dr	0.71mi	2/1.0	835 (-0%)	5mo	$142,000	$170	63
220 W Ercoupe Dr	0.74mi	2/1.0	816 (-2%)	0mo	$118,000	$145	61
207 W Ercoupe Dr	0.69mi	2/1.0	864 (+3%)	2mo	$117,500	$136	61
422 Monroney Dr	0.28mi	3/1.0 (+1)	720 (-14%)	1mo	$129,000	$179	58
508 W Lockheed Dr	0.64mi	3/1.0 (+1)	924 (+10%)	2mo	$115,000	$124	47

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: 22.8%
• Equity multiple: 1.94×
• Total profit: $16,250
• Equity at exit: $9,244

10-year hold

• IRR: 30.8%
• Equity multiple: 3.77×
• Total profit: $48,016
• Equity at exit: $5,361

Cash invested: $17,360 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$325
• Tax from tax record: −$72 /mo · $865/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $413

Break-even live

Break-even rent $536

Max offer price $62,000

Occupancy floor 56%

Sensitivity live

Price	-10% $448	-5% $430	+0% $413	+5% $395	+10% $378
Rent	-10% $329	-5% $371	+0% $413	+5% $455	+10% $496
Rate	-1.0pp $444	-0.5pp $429	base $413	+0.5pp $397	+1.0pp $380

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
205 N Key Blvd Oklahoma City, OK	2.0	1.0	1047	$995	$0.95	23d	1	0.03mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	6d	1	0.13mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	25d	1	0.21mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	23d	1	0.36mi
705 N key Blvd Midwest City, OK	1.0	1.0	700	$795	$1.14	25d	1	0.43mi
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	4d	1	0.49mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	6d	1	0.50mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	6d	1	0.51mi
810 N Marshall Dr Midwest City, OK	1.0	1.0	686	$875	$1.28	22d	1	0.52mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	4d	1	0.53mi
417 Babb Dr Midwest City, OK	1.0	1.0	640	$700	$1.09	13d	1	0.53mi
901 N Key Blvd Oklahoma City, OK	1.0	1.0	620	$600	$0.97	16d	1	0.54mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	19d	1	0.54mi
305 Babb Dr Oklahoma City, OK	1.0	1.0	625	$825	$1.32	6d	1	0.60mi
209 W Douglas Dr Oklahoma City, OK	2.0	1.0	952	$895	$0.94	19d	1	0.64mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	4d	1	0.65mi
208 W Ercoupe Dr Oklahoma City, OK	3.0	1.0	1125	$1,500	$1.33	25d	1	0.66mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	3d	1	0.68mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	4d	1	0.68mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	4d	1	0.71mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	4d	5	0.75mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	25d	1	0.87mi
407 W Fairchild Dr Oklahoma City, OK	3.0	1.0	1062	$1,045	$0.98	4d	1	0.88mi
423 W Douglas Dr Oklahoma City, OK	3.0	1.0	1014	$1,095	$1.08	23d	1	0.96mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	6d	1	0.99mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	25d	1	0.99mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	25d	1	1.02mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	19d	1	1.04mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	4d	1	1.05mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	23d	1	1.10mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	6d	1	1.10mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	25d	1	1.16mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	25d	1	1.17mi
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	4d	1	1.19mi
677 Midtown Pl Midwest City, OK	1.0–2.0	1.0–2.0	770	$1,450	$1.88	3d	1	1.27mi
9300 Orchard Blvd Oklahoma City, OK	1.0	1.0	674	$859	$1.27	25d	1	1.34mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	23d	1	1.36mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	25d	1	1.38mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	25d	1	1.48mi

Listing history 12 events

1. 2026-06-09
   days on market $62,000 Active 34 DOM
2. 2026-06-08
   days on market $62,000 Active 33 DOM
3. 2026-06-07
   days on market $62,000 Active 32 DOM
4. 2026-06-05
   days on market $62,000 Active 29 DOM
5. 2026-06-03
   days on market $62,000 Active 28 DOM
6. 2026-06-02
   days on market $62,000 Active 27 DOM
7. 2026-06-01
   days on market $62,000 Active 26 DOM
8. 2026-05-31
   days on market $62,000 Active 25 DOM
9. 2026-04-30
   status Pending
10. 2026-04-16
    price $62,000
11. 2026-04-10
    listed $75,000 Active
12. 1979-07-01
    soldstatus $22,500

ⓘ 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: $865 · $72/mo
• Projected year-2 tax: $865 · $72/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: $12,698
• − Mortgage interest: −$3,473
• − Property taxes: −$865
• − Insurance: −$310
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,804
• Taxable income: $4,214
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $3,943/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

+175.6% since first listed

4 events — show timeline

• 2026-04-30 Pending — MLSOK
• 2026-04-16 Price Changed $62,000 MLSOK
• 2026-04-10 Listed $75,000 MLSOK
• 1979-07-01 Sold (Public Records) $22,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $865 · +2.5% YoY. Source: county tax records.