113 Oak Tree Dr

Midwest City, OK 73130

$164,900D

3 bd · 2.0 ba · 1,306 sqft · Built 1984 · SingleFamily · Pending · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,457/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$257
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $30/mo
• Annual: $357/yr
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• 1% rule: 0.88%
• Cash to close: $46,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $30 ($357/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 $146k (11.6% below list).
• It's been on market 64 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (11.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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: Cleveland Bailey Es (math 17% / reading 17%, grade F, #540 of 845 statewide, top 68%, 307 students, 0% FRL); Carl Albert Ms (math 14% / reading 26%, grade F, #158 of 345 statewide, top 47%, 834 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 fast (+5.7%/yr); 167 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 23y 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.
• 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.

Questions for listing agent

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.