413 Reed Pl · Midwest City, OK 73110

$120,000

3 bd · 1.0 ba · 881 sqft · SingleFamily public records · 8 Days on market

Built 1950 6,900 sqft lot Est $124k · at est.

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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 +20.3/30.0
• ARV discount +9.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.9/10.0
• 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

CUTE CORNER HOME LOW MAINT. SIDING NEWER WINDOWS HARDWOOD FLOORS IN MOST ROOMS MAY QUALIFY FOR MWC GRANT-SELLER FINISHING A FEW THINGSS BRING AN OFFER

Key facts

• Covered back deck
• Storage shed
• Corner lot

Tags

• CORNER LOT
• COVERED BACK DECK
• STORAGE SHED
• MATURE TREES
• MINUTES FROM SHOPPING
• MINUTES FROM DINING

Property features AI

Finance

• Other: Located in Traub Add; No storm shelter; Corner lot acreage approximately 0.1584 acres; Flood insurance not required
• Financial info: Not assumable; Loan financing available
• HOA & community: No mandatory association dues

Exterior

• Home design: Single family residence; One-story; Existing property; Residential property; Homestead exempt
• Construction: Vinyl siding; Shingle roof; Conventional foundation; Built prior to 2026
• Exterior features: Covered deck; Outdoor storage; Corner lot

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One living area; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/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 $119k (0.6% below list).
• Recommended offer: $119k (0.6% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 25y 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 $89k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $119,239 (0.6% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $124,221
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 Stansell Dr	0.19mi	3/1.0	903 (+2%)	1mo	$130,000	$144	86
128 W Lilac Ln	0.35mi	3/1.0	875 (-1%)	1mo	$75,000	$86	82
508 W Lockheed Dr	0.47mi	3/1.0	924 (+5%)	2mo	$115,000	$124	69
207 W Ercoupe Dr	0.49mi	2/1.0 (-1)	864 (-2%)	2mo	$117,500	$136	68
1500 Sandra Dr	0.35mi	2/1.0 (-1)	816 (-7%)	2mo	$114,900	$141	64
220 W Ercoupe Dr	0.49mi	2/1.0 (-1)	816 (-7%)	0mo	$118,000	$145	60
713 E Proctor Pl	0.40mi	3/1.0	990 (+12%)	2mo	$135,000	$136	59
1407 E Lockheed Ct	0.47mi	2/1.0 (-1)	816 (-7%)	2mo	$138,500	$170	59
109 E Northrup Dr	0.47mi	3/2.0	950 (+8%)	6mo	$100,000	$105	56
6220 SE 11th St	0.71mi	3/1.0	933 (+6%)	4mo	$155,000	$166	54
223 E Jacobs Dr	0.68mi	3/1.0	965 (+10%)	1mo	$140,000	$145	51
7111 SE 15th St	0.47mi	2/1.0 (-1)	756 (-14%)	5mo	$100,000	$132	45

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-9,698
• Equity at exit: $17,892

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $4,053
• Equity at exit: $10,375

Cash invested: $33,600 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,192 high
• Mortgage (P&I): −$629
• Tax from tax record: −$109 /mo · $1,312/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $153

Break-even live

Break-even rent $998

Max offer price $120,000

Occupancy floor 82%

Sensitivity live

Price	-10% $221	-5% $187	+0% $153	+5% $119	+10% $85
Rent	-10% $59	-5% $106	+0% $153	+5% $200	+10% $248
Rate	-1.0pp $214	-0.5pp $184	base $153	+0.5pp $122	+1.0pp $91

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	22d	1	0.08mi
1111 Jet Dr Oklahoma City, OK	3.0	1.0	1067	$1,095	$1.03	5d	1	0.08mi
314 W Peach St Midwest City, OK	2.0	1.0	736	$950	$1.29	24d	1	0.14mi
317 W Peach St Oklahoma City, OK	2.0	1.0	878	$1,045	$1.19	4d	1	0.15mi
313 W Peach St Oklahoma City, OK	2.0	1.0	724	$975	$1.35	18d	1	0.16mi
2220 S Air Depot Blvd Oklahoma City, OK	3.0	1.0	1020	$1,395	$1.37	24d	1	0.24mi
6608 SE 15th St Oklahoma City, OK	3.0	2.0	1103	$1,425	$1.29	22d	1	0.32mi
215 W McArthur Dr Oklahoma City, OK	2.0	1.0–2.0	795	$1,122	$1.41	3d	5	0.34mi
407 W Fairchild Dr Oklahoma City, OK	3.0	1.0	1062	$1,045	$0.98	3d	1	0.38mi
7122 SE 15th St Oklahoma City, OK	2.0	1.0	816	$1,100	$1.35	5d	1	0.43mi
201 W Fairchild Dr Oklahoma City, OK	3.0	1.0	984	$975	$0.99	3d	1	0.45mi
124 E Northrup Dr Oklahoma City, OK	4.0	1.0	1085	$1,400	$1.29	24d	1	0.51mi
208 W Ercoupe Dr Oklahoma City, OK	3.0	1.0	1125	$1,500	$1.33	24d	1	0.51mi
423 W Douglas Dr Oklahoma City, OK	3.0	1.0	1014	$1,095	$1.08	22d	1	0.52mi
209 W Douglas Dr Oklahoma City, OK	2.0	1.0	952	$895	$0.94	18d	1	0.55mi
204 W Lockheed Dr Oklahoma City, OK	2.0	1.0	864	$1,150	$1.33	18d	1	0.57mi
404 Mid America Blvd Oklahoma City, OK	2.0	1.0	831	$1,150	$1.38	3d	1	0.58mi
204 Elm St Oklahoma City, OK	3.0	2.0	1098	$1,250	$1.14	24d	1	0.59mi
312 Bolton Pl Oklahoma City, OK	3.0	1.5	756	$1,099	$1.45	24d	1	0.74mi
413 E Northrup Dr Oklahoma City, OK	3.0	1.0	800	$1,395	$1.74	3d	1	0.75mi
422 E Northrup Dr Oklahoma City, OK	3.0	1.0	819	$1,395	$1.70	3d	1	0.79mi
444 1/2 Babb Dr Oklahoma City, OK	2.0	1.0	920	$895	$0.97	5d	1	0.81mi
442 Babb Dr Oklahoma City, OK	2.0	2.0	920	$925	$1.01	5d	1	0.81mi
2105 Maple Dr Midwest City, OK	3.0	2.0	1032	$1,295	$1.25	24d	1	0.87mi
421 N Key Blvd Oklahoma City, OK	2.0	1.0	780	$900	$1.15	24d	1	0.91mi
403 N Key Blvd Oklahoma City, OK	2.0	1.0	794	$995	$1.25	5d	1	0.95mi
536 E Northrup Dr Oklahoma City, OK	2.0	1.0	858	$889	$1.04	3d	1	0.96mi
538 E Indian Dr Oklahoma City, OK	2.0	1.0	739	$920	$1.24	22d	1	0.99mi
205 N Key Blvd Oklahoma City, OK	2.0	1.0	1047	$995	$0.95	22d	1	1.03mi
616 Lions Park Pl Oklahoma City, OK	2.0	1.0	906	$950	$1.05	3d	1	1.10mi
322 E Kerr Dr Oklahoma City, OK	3.0	1.0	1086	$1,200	$1.10	24d	1	1.14mi
609 E Steed Dr Oklahoma City, OK	2.0	1.0	811	$1,800	$2.22	24d	1	1.20mi
4772 SE 23rd St Oklahoma City, OK	3.0	1.0	1044	$1,300	$1.25	3d	1	1.31mi
121 Gill Dr Oklahoma City, OK	3.0	1.0	950	$1,150	$1.21	3d	1	1.32mi
6000 E Reno Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	692	$989	$1.43	24d	1	1.34mi
764 E Rose Dr Oklahoma City, OK	3.0	1.0	920	$1,025	$1.11	3d	1	1.35mi
4814 Kristie Dr Oklahoma City, OK	2.0	1.0	825	$895	$1.08	24d	1	1.35mi
4765 SE 25th St Oklahoma City, OK	2.0	1.0	864	$895	$1.04	5d	1	1.36mi
4769 SE 27th St Oklahoma City, OK	3.0	1.0	1000	$1,300	$1.30	24d	1	1.40mi
4625 Tinker Diagonal Oklahoma City, OK	2.0	2.0	900	$1,050	$1.17	12d	1	1.43mi

Listing history 7 events

1. 2026-06-13
   statusdays on market $120,000 Pending 8 DOM
2. 2026-06-09
   days on market $120,000 Active 7 DOM
3. 2026-06-08
   days on market $120,000 Active 6 DOM
4. 2026-06-07
   days on market $120,000 Active 5 DOM
5. 2026-06-05
   days on market $120,000 Active 2 DOM
6. 2026-06-02
   remarks 350-char remark
7. 2026-06-02
   listed $120,000 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: $1,312 · $109/mo
• Projected year-2 tax: $1,312 · $109/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: $14,309
• − Mortgage interest: −$6,722
• − Property taxes: −$1,312
• − Insurance: −$600
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$3,491
• Taxable loss: −$106
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $1,865/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

+200.8% since first listed

14 events — show timeline

• 2026-06-02 Listed $120,000 MLSOK
• 2024-11-26 Rental Removed $995 RENTLY
• 2024-11-02 Price Changed $995 RENTLY
• 2024-09-17 Listed for Rent $1,095 RENTLY
• 2024-08-29 Rental Removed $1,095 RENTLY
• 2024-08-23 Price Changed $1,095 RENTLY
• 2024-07-31 Listed for Rent $1,145 RENTLY
• 2024-07-18 Rental Removed $1,145 RENTLY
• 2024-06-21 Listed for Rent $1,145 RENTLY
• 2022-06-27 Price Changed $1,125 RENT.
• 2022-03-17 Sold (Public Records) $89,000 Public Records
• 2022-01-26 Sold (Public Records) $55,000 Public Records
• 2001-05-04 Sold (MLS) $35,500 MLSOK
• 2001-02-13 Listed $39,900 MLSOK

Property tax history

+6.5%/yr

Latest (2025): $1,312 · +2.5% YoY. Source: county tax records.