4405 SE 40th St · Del City, OK 73115

$75,000

3 bd · 1.0 ba · 620 sqft · SingleFamily public records · 135 Days on market

Built 1952 8,377 sqft lot Est $78k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

"A Very Smart Price" Not many homes at this price with so much to offer! Garage converted to 3rd bed or extra dining space. Interior utility room. Central heat and hot water tank recently replaced. Has a 260 SF florida room not included in the SF. 2 car covered patio, newer carpet, laminate floors in living and dining room.

Key facts

• Wood-look flooring
• Interior laundry
• Close to tinker afb

Tags

• WOOD-LOOK FLOORING
• INTERIOR LAUNDRY
• PARTIALLY ENCLOSED PATIO
• COVERED PULL THROUGH PARKING
• CLOSE TO TINKER AFB
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Listing previously had a price decrease; Home not occupied; No home warranty
• Financial info: Sold/Offered as-is; financing options include cash and conventional; Not assumable
• HOA & community: No mandatory association dues

Exterior

• Parking: Concrete parking
• Utilities: Public utilities
• Home design: Single-family residence; One-level; North-facing; Residential property
• Construction: Frame construction; Composition roof; Conventional foundation; Existing property
• Exterior features: Covered patio; Chain link fence; Interior lot

Interior

• Kitchen: Free-standing gas range and oven
• Bedrooms: 3 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Laminate flooring; Bonus room; Inside utility
• Laundry & utility: Inside utility

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 5.9% in Del 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 64/100 on livability (#180 in OK) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, amenities D, crime 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: Townsend Es (math 8% / reading 17%, grade F, #652 of 845 statewide, top 79%, 459 students, 0% FRL); Del City Hs (math 5% / reading 15%, grade F, #361 of 447 statewide, top 94%, 1,158 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 (+1.3%/yr); 119 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $519 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 + 1.3% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 12y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $44k; list at $75k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 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 1952 — 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 F-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 F 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: 1.63% ✓
• Cap rate: 14.01%
• Cash-on-cash: 27.57%
• DSCR: 2.23
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $78,120
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4429 SE 38th St	0.14mi	3/1.0	620 (0%)	1mo	$113,000	$182	93
4428 SE 38th St	0.12mi	2/1.0 (-1)	620 (0%)	4mo	$47,500	$77	87
4220 SE 45th St	0.47mi	2/1.0 (-1)	713 (+15%)	16mo	$90,000	$126	34

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 · 1.26% rent growth · sell at horizon

5-year hold

• IRR: 19.7%
• Equity multiple: 1.78×
• Total profit: $16,463
• Equity at exit: $11,183

10-year hold

• IRR: 26.8%
• Equity multiple: 3.17×
• Total profit: $45,541
• Equity at exit: $6,485

Cash invested: $21,000 (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 73115

• Home prices YoY: -20.9%
• Rents YoY: 1.3%
• Active inventory: 119
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,224 high
• Mortgage (P&I): −$393
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $482

Break-even live

Break-even rent $614

Max offer price $75,000

Occupancy floor 56%

Sensitivity live

Price	-10% $525	-5% $504	+0% $482	+5% $461	+10% $440
Rent	-10% $386	-5% $434	+0% $482	+5% $531	+10% $579
Rate	-1.0pp $520	-0.5pp $501	base $482	+0.5pp $463	+1.0pp $443

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4128 SE 43rd St Oklahoma City, OK	3.0	1.0	620	$1,275	$2.06	24d	1	0.41mi
4741 Ridgeway Dr Oklahoma City, OK	2.0	1.0	615	$850	$1.38	3d	7	0.69mi
4215 SE 53rd St Oklahoma City, OK	1.0–2.0	1.0	769	$915	$1.19	24d	1	0.94mi
5537 S Sunnylane Rd Oklahoma City, OK	1.0–2.0	1.0–1.5	840	$850	$1.01	3d	11	1.08mi
4713 SE 23rd St Oklahoma City, OK	3.0	1.0	750	$1,095	$1.46	24d	1	1.12mi
5707 SE 48th St Oklahoma City, OK	1.0–3.0	1.0–2.0	899	$1,363	$1.52	2d	6	1.20mi

Listing history 31 events

1. 2026-06-07
   statusdays on market $75,000 Pending 135 DOM
2. 2026-06-05
   days on market $75,000 Active 133 DOM
3. 2026-06-03
   days on market $75,000 Active 132 DOM
4. 2026-06-02
   days on market $75,000 Active 131 DOM
5. 2026-06-01
   days on market $75,000 Active 130 DOM
6. 2026-05-31
   days on market $75,000 Active 129 DOM
7. 2026-05-18
   price $75,000
8. 2026-05-14
   status Active
9. 2026-05-04
   status Pending
10. 2026-04-13
    price $80,000
11. 2026-03-11
    price $89,900
12. 2026-01-12
    listed $99,999 Active
13. 2025-08-22
    historical
14. 2025-08-20
    status Active
15. 2025-07-14
    status Pending
16. 2025-06-06
    listed $105,000 Active
17. 2024-11-14
    historical $999
18. 2024-10-31
    price $999
19. 2024-10-17
    historical $1,025
20. 2024-10-17
    listed $1,025
21. 2024-09-21
    listed $1,025
22. 2024-09-21
    historical $1,025
23. 2024-09-19
    listed $1,025
24. 2024-08-26
    historical $1,025
25. 2024-08-24
    listed $1,025
26. 2024-08-23
    historical $1,025
27. 2024-08-15
    listed $1,025
28. 2024-08-13
    historical $1,025
29. 2024-08-13
    listed $1,025
30. 2014-10-23
    soldstatus $43,900 335-char remark

    Show marketing remark (335 chars)

    "A Very Smart Price" Not many homes at this price with so much to offer! Garage converted to 3rd bed or extra dining space. Interior utility room. Central heat and hot water tank recently replaced. Has a 260 SF florida room not included in the SF. 2 car covered patio, newer carpet, laminate floors in living and dining room.

31. 2014-06-11
    listed $45,000 335-char remark

    Show marketing remark (335 chars)

    "A Very Smart Price" Not many homes at this price with so much to offer! Garage converted to 3rd bed or extra dining space. Interior utility room. Central heat and hot water tank recently replaced. Has a 260 SF florida room not included in the SF. 2 car covered patio, newer carpet, laminate floors in living and dining room.

ⓘ 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: $725 · $60/mo
• Projected year-2 tax: $725 · $60/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 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: $14,694
• − Mortgage interest: −$4,201
• − Property taxes: −$725
• − Insurance: −$375
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,182
• Taxable income: $4,860
• Est. tax owed @ 24.0%: −$1,166
• After-tax cash flow: $4,622/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 — Del City

• Score: 64/100
• State rank: #180
• US rank: #14305

Category grades

Amenities D Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety C- User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Del City, OK
• County: Oklahoma County · 771,644 people
• City population: 20,225
• Metro: Oklahoma City, OK
• Population (ZIP): 20,225
• Household income: $46,810
• Rent vs Own: 44.3% rent · 55.7% own
• Severe rent burden: 965.0

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 0.69)
• Race & ethnicity: White 50% Black 19% Hispanic / Latino 15% Two or more races 14% Native American 5% Asian 1%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -71.80%
• Current HPI: 271.8383
• Rent YoY: ▲ 1.26%
• 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

+66.7% since first listed

25 events — show timeline

• 2026-05-18 Price Changed $75,000 MLSOK
• 2026-05-14 Relisted — MLSOK
• 2026-05-04 Pending — MLSOK
• 2026-04-13 Price Changed $80,000 MLSOK
• 2026-03-11 Price Changed $89,900 MLSOK
• 2026-01-12 Listed $99,999 MLSOK
• 2025-08-22 Listing Removed — MLSOK
• 2025-08-20 Relisted — MLSOK
• 2025-07-14 Pending — MLSOK
• 2025-06-06 Listed $105,000 MLSOK
• 2024-11-14 Rental Removed $999 SHOWMOJO
• 2024-10-31 Price Changed $999 SHOWMOJO
• 2024-10-17 Rental Removed $1,025 RENTALBEAST
• 2024-10-17 Listed for Rent $1,025 SHOWMOJO
• 2024-09-21 Listed for Rent $1,025 RENTALBEAST
• 2024-09-21 Rental Removed $1,025 SHOWMOJO
• 2024-09-19 Listed for Rent $1,025 SHOWMOJO
• 2024-08-26 Rental Removed $1,025 SHOWMOJO
• 2024-08-24 Listed for Rent $1,025 SHOWMOJO
• 2024-08-23 Rental Removed $1,025 RENTALBEAST
• 2024-08-15 Listed for Rent $1,025 RENTALBEAST
• 2024-08-13 Rental Removed $1,025 SHOWMOJO
• 2024-08-13 Listed for Rent $1,025 SHOWMOJO
• 2014-10-23 Sold (MLS) $43,900 MLSOK
• 2014-06-11 Listed $45,000 MLSOK

Property tax history

+12.1%/yr

Latest (2025): $725 · +2.8% YoY. Source: county tax records.