6008 SE 3rd St · Midwest City, OK 73110

$110,000

3 bd · 1.0 ba · 966 sqft · SingleFamily public records · 87 Days on market

Built 1961 6,159 sqft lot Est $155k · 29% 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 +24.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.0/10.0
• 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

Great investment opportunity or owner-occupant starter home! This 966 sq ft 3-bed, 1-bath home is ready for cosmetic updates and offers tons of potential. Bring your vision and add value with fresh paint, flooring, and finishes. Spacious living areas and a functional layout make this a smart move-in or flip project. Convenient location close to shopping, dining, and Tinker Air Force Base. Property is being sold "AS IS"

Key facts

• Functional layout
• Convenient location
• Cosmetic updates

Tags

• INVESTMENT OPPORTUNITY
• COSMETIC UPDATES
• SPACIOUS LIVING AREAS
• FUNCTIONAL LAYOUT
• CONVENIENT LOCATION
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Living area recorded from assessor; Days on market: 41
• Financial info: Not assumable; Does not qualify for loan; Current price listed at $120,000; Taxes reported
• HOA & community: No mandatory association dues

Exterior

• Parking: 1-car garage
• Utilities: Homestead exempt
• Home design: Single-family residence; One-story; Existing property; Located in Howard Acres 2nd
• Construction: Brick and frame construction; Composition roof; Slab foundation; Built (existing)
• Exterior features: Interior lot; No special zoning; No flood insurance required

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: No fireplace; No in-law plan; One living area; Occupied

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $761 of loan paydown is wiped out by about $3k 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 87 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $110k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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: 1.10% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.45%
• DSCR: 1.38
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $154,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4925 Michael Pl	0.48mi	3/1.0	918 (-5%)	1mo	$149,999	$163	69
513 Leslie Dr	0.62mi	3/1.5	978 (+1%)	1mo	$156,000	$160	66
6220 SE 11th St	0.54mi	3/1.0	933 (-3%)	4mo	$155,000	$166	66
1133 W Peebly Dr	0.38mi	3/1.5	1,067 (+10%)	1mo	$182,500	$171	62
208 S Fox Dr	0.44mi	2/1.0 (-1)	884 (-8%)	6mo	$122,800	$139	56
4713 Crest Pl	0.75mi	3/1.5	1,012 (+5%)	3mo	$75,000	$74	53
6125 SE 11th St	0.49mi	3/1.0	848 (-12%)	8mo	$145,000	$171	50
4800 Gina Pl	0.72mi	3/1.5	1,020 (+6%)	6mo	$169,900	$167	50
1800 N Mitchell Dr	0.72mi	3/1.5	1,038 (+8%)	6mo	$142,900	$138	47
1820 Sandra Dr	0.74mi	2/1.0 (-1)	1,045 (+8%)	1mo	$98,000	$94	46
616 Leslie Dr	0.61mi	2/1.5 (-1)	1,076 (+11%)	2mo	$167,000	$155	44
4720 Trapp Dr	0.70mi	3/1.5	1,110 (+15%)	4mo	$142,500	$128	37

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-4,019
• Equity at exit: $16,401

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $14,253
• Equity at exit: $9,511

Cash invested: $30,800 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,207 high
• Mortgage (P&I): −$577
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $217

Break-even live

Break-even rent $933

Max offer price $110,000

Occupancy floor 77%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6000 E Reno Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	692	$989	$1.43	23d	1	0.13mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	21d	1	0.92mi
2904 Treight Creek Ln Midwest City, OK	2.0	2.0	984	$1,495	$1.52	1d	2	0.94mi
4625 Tinker Diagonal Oklahoma City, OK	2.0	2.0	900	$1,050	$1.17	11d	1	1.00mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	23d	1	1.09mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	4d	1	1.17mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	21d	1	1.17mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	2d	1	1.20mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	23d	1	1.21mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	17d	1	1.21mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	23d	1	1.23mi
121 Gill Dr Oklahoma City, OK	3.0	1.0	950	$1,150	$1.21	1d	1	1.27mi
4340 Woodedge Dr Oklahoma City, OK	3.0	1.0	1026	$1,250	$1.22	2d	1	1.28mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	4d	1	1.30mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	23d	1	1.47mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	23d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $110,000 Active 87 DOM
2. 2026-06-17
   days on market $110,000 Active 86 DOM
3. 2026-06-16
   days on market $110,000 Active 85 DOM
4. 2026-06-15
   days on market $110,000 Active 84 DOM
5. 2026-06-13
   days on market $110,000 Active 82 DOM
6. 2026-06-13
   days on market $110,000 Active 81 DOM
7. 2026-06-09
   days on market $110,000 Active 78 DOM
8. 2026-06-08
   days on market $110,000 Active 77 DOM
9. 2026-06-07
   days on market $110,000 Active 76 DOM
10. 2026-06-05
    days on market $110,000 Active 73 DOM
11. 2026-06-03
    days on market $110,000 Active 72 DOM
12. 2026-06-02
    days on market $110,000 Active 71 DOM
13. 2026-06-01
    days on market $110,000 Active 70 DOM
14. 2026-05-31
    days on market $110,000 Active 69 DOM
15. 2026-05-03
    price $110,000
16. 2026-05-03
    status Active
17. 2026-03-19
    status Pending
18. 2026-02-05
    listed $120,000 Active
19. 2005-01-03
    soldstatus $68,000
20. 1982-08-01
    soldstatus $21,000

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,368 · $114/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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,485
• − Mortgage interest: −$6,162
• − Property taxes: −$1,368
• − Insurance: −$550
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$3,200
• Taxable income: $887
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $2,390/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

+423.8% since first listed

6 events — show timeline

• 2026-05-03 Price Changed $110,000 MLSOK
• 2026-05-03 Relisted — MLSOK
• 2026-03-19 Pending — MLSOK
• 2026-02-05 Listed $120,000 MLSOK
• 2005-01-03 Sold (Public Records) $68,000 Public Records
• 1982-08-01 Sold (Public Records) $21,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,368 · +2.5% YoY. Source: county tax records.