405 E Rickenbacker Dr · Midwest City, OK 73110

$140,000

3 bd · 2.0 ba · 1,140 sqft · SingleFamily public records · 6 Days on market

Built 1943 7,793 sqft lot Est $141k · at est.

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Why this score? — see what drove the D 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 +16.8/30.0
• ARV discount +7.9/15.0
• DSCR +5.2/10.0
• 1% rule +3.9/10.0
• 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

Looking for a deal? This is it! Be warned though, this house needs some work to be livable but would make a great investment property or fixer upper to move into. Similar homes in size in this area have been selling for up to $115k - $120k when fully remodeled. Seller is looking to sell as-is but would consider making some repairs with the right offer. Want a new roof before you buy it? Great. Make an offer, we'll work it into the price. New HVAC system? Awesome. Make an offer, we'll work it into the price. Seller is licensed agent in state of Oklahoma #170512

Key facts

• 7,793 sq ft lot
• 2 garage spots
• Built 1943

Property features AI

Finance

• Other: Owner is associated with sale; Down the street from the park (directions)
• Financial info: Listing offered as-is; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: 2-car garage
• Utilities: No flood insurance required (per listing)
• Home design: Single family residence; One level; Residential property
• Construction: Brick and frame construction; Composition roof; Conventional foundation; Existing property
• Exterior features: Interior lot; No additional exterior features listed

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/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 (11.3% below list).
• Recommended offer: $124k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.6% in Midwest City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 40 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 $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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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.
• Current owner paid $47k; list at $140k implies a 196% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,240 (11.3% below list)

Questions for the listing agent

1. Built in 1943 — 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. 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?
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: 0.89% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $141,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 E Douglas Dr	0.12mi	3/2.0	1,129 (-1%)	2mo	$140,000	$124	90
313 E Jacobs Dr	0.32mi	3/1.0	1,101 (-3%)	5mo	$90,000	$82	71
314 E Ercoupe Dr	0.19mi	3/1.0	1,055 (-8%)	8mo	$125,500	$119	68
507 E Curtis Dr	0.39mi	3/1.5	1,079 (-5%)	6mo	$45,000	$42	66
102 E Lilac Ln	0.29mi	3/1.5	1,241 (+9%)	7mo	$145,000	$117	64
208 W Jacobs Dr	0.36mi	3/1.0	1,022 (-10%)	0mo	$171,000	$167	62
1111 N Redbud Dr	0.56mi	2/1.0 (-1)	1,154 (+1%)	3mo	$155,000	$134	61
515 N Key Blvd	0.32mi	3/1.0	1,027 (-10%)	5mo	$155,000	$151	60
202 E Northrup Dr	0.48mi	3/1.0	1,220 (+7%)	7mo	$169,000	$139	56
533 E Ercoupe Dr	0.45mi	3/1.0	1,008 (-12%)	2mo	$123,500	$123	54
605 Lions Park Pl	0.64mi	3/1.5	989 (-13%)	1mo	$85,000	$86	45
516 Monroney Dr	0.53mi	3/1.0	989 (-13%)	6mo	$135,000	$137	44

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: -12.0%
• Equity multiple: 0.57×
• Total profit: $-16,969
• Equity at exit: $20,874

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-7,529
• 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 73110

• Rents YoY: 3.0%
• Active inventory: 173
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$734
• Tax from tax record: −$99 /mo · $1,183/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $90

Break-even live

Break-even rent $1,128

Max offer price $140,000

Occupancy floor 88%

Sensitivity live

Price	-10% $170	-5% $130	+0% $90	+5% $51	+10% $11
Rent	-10% $-8	-5% $41	+0% $90	+5% $139	+10% $189
Rate	-1.0pp $161	-0.5pp $126	base $90	+0.5pp $54	+1.0pp $17

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	4d	1	0.11mi
306 E Grumman Dr Oklahoma City, OK	3.0	1.0	1219	$1,300	$1.07	25d	1	0.14mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	19d	1	0.19mi
316 E Harmon Dr Oklahoma City, OK	3.0	1.0	1212	$1,395	$1.15	4d	1	0.21mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	4d	1	0.27mi
209 W Douglas Dr Oklahoma City, OK	2.0	1.0	952	$895	$0.94	19d	1	0.30mi
208 W Ercoupe Dr Oklahoma City, OK	3.0	1.0	1125	$1,500	$1.33	25d	1	0.30mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	25d	1	0.30mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	6d	1	0.32mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	4d	5	0.36mi
210 W Jacobs Dr Oklahoma City, OK	3.0	1.0	1200	$1,200	$1.00	25d	1	0.37mi
205 N Key Blvd Oklahoma City, OK	2.0	1.0	1047	$995	$0.95	23d	1	0.37mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	6d	1	0.41mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	6d	1	0.42mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	23d	1	0.46mi
120 E Northrup Dr Oklahoma City, OK	4.0	2.0	1364	$1,475	$1.08	25d	1	0.47mi
124 E Northrup Dr Oklahoma City, OK	4.0	1.0	1085	$1,400	$1.29	25d	1	0.47mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	25d	1	0.47mi
407 W Fairchild Dr Oklahoma City, OK	3.0	1.0	1062	$1,045	$0.98	4d	1	0.51mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	3d	1	0.55mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	4d	1	0.55mi
110 E Myrtle Dr Oklahoma City, OK	3.0	1.5	1236	$1,300	$1.05	13d	1	0.60mi
423 W Douglas Dr Oklahoma City, OK	3.0	1.0	1014	$1,095	$1.08	23d	1	0.62mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	4d	1	0.64mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	25d	1	0.64mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	4d	1	0.65mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	19d	1	0.66mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	4d	1	0.67mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	6d	1	0.67mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	23d	1	0.71mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	6d	1	0.71mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	25d	1	0.78mi
1436 Maple Dr Oklahoma City, OK	4.0	2.0	1409	$1,350	$0.96	17d	1	0.84mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	25d	1	0.87mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	23d	1	0.97mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	25d	1	1.09mi
407 E Key Blvd Oklahoma City, OK	4.0	2.0	1200	$1,395	$1.16	25d	1	1.17mi
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	4d	1	1.18mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	25d	1	1.20mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	25d	1	1.22mi

Listing history 5 events

1. 2026-06-21
   days on market $140,000 Active 6 DOM
2. 2026-06-18
   days on market $140,000 Active 3 DOM
3. 2026-06-17
   days on market $140,000 Active 2 DOM
4. 2026-06-16
   remarks 407-char remark
5. 2026-06-16
   listed $140,000 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: $1,183 · $99/mo
• Projected year-2 tax: $1,260 · $105/mo
• Expected delta: +$77/yr (+$6/mo · 6.5%)

ⓘ 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 · 18 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: $14,909
• − Mortgage interest: −$7,842
• − Property taxes: −$1,183
• − Insurance: −$700
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − Depreciation: −$4,073
• Taxable loss: −$1,275
• Est. tax savings @ 24.0%: +$306
• After-tax cash flow: $1,391/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

+143.5% since first listed

5 events — show timeline

• 2026-06-15 Listed $140,000 MLSOK
• 2020-05-28 Sold (Public Records) $47,500 Public Records
• 2020-05-28 Sold (MLS) $47,300 MLSOK
• 2020-05-07 Pending — MLSOK
• 2020-05-06 Listed $57,500 MLSOK

Property tax history

+4.8%/yr

Latest (2025): $1,183 · +2.5% YoY. Source: county tax records.